Singapore denies hosting Tatmadaw money hoard
The Monetary Authority of Singapore (MAS) denied reports that Singaporean banks are holding vast sums of Tatmadaw (military) funds. MAS conducted an inquiry after advocacy group Justice For Myanmar claimed the military is in possession of USD 5.7 bil
UK, Canada issue new sanctions
Canada and the U.K. have joined the U.S. in targeted sanctions against military officials. The U.K. accused the Tatmadaw (Myanmar military) of human rights abuses following the coup, “including violating the right to life, the right to freedom
U.S. identifies sanction targets
The U.S. Department of the Treasury has identified 10 military-linked individuals and three entities as the targets of new economic sanctions. The named parties include Senior General Min Aung Hlaing and Deputy Commander-in-Chief Soe Win, both of who
Unrest affects trade
As the political situation hangs in uncertainty, so does the flow of goods. The Ministry of Commerce released data on external trade from start of current fiscal year (October 1st, 2020) until January 22nd, 2021 and both import and exports have plumm
Banks close, gold traders urge calm
Banks and gold traders alike have urged calm amid rumors and uncertainty. Internet outages forced several banks to suspend operations over the weekend, and this week KBZ closed all of its Yangon branches after many of its workers walked out to join o
