National debt reached USD 30 billion last year
By the end of the 2018-2019 fiscal year, Myanmar’s local and foreign debt was MMK40.8 trillion (roughly USD 30 billion), according to Myanmar’s annual debt report released last week. Speaking to parliament, U Maung Maung Win, deputy minis
Chinese firms take blame for Mandalay flood
Two Chinese companies will accept responsibility for a flood that forced thousands of people to flee their homes outside Mandalay. On Sunday, an embankment near the in-development Shwe Ge wastewater pumping station in Amarapura Township broke, forcin
China and US bash one another over Myanmar
Last week U.S. embassy chargé d’affaires George N. Sibley published a scathing op-ed that accused China of exploiting Myanmar’s people, extracting its natural resources, and eroding its sovereignty. Soon after, the Chinese embassy released i
China approves new rice exporters
China has granted export licenses for rice to 43 new Myanmar companies. A spokesperson from the Myanmar Rice Federation (MRF) said that the new licenses should boost the volume of rice Myanmar sells to China, which has suffered both from the COVID-19Construction of China-backed Kyaukphyu deep-sea port to start soon
Part of the Kyaukphyu Special Economic Zone (SEZ) in Rakhine State and a key component to the China Myanmar Economic Corridor (CMEC), itself part of the Belt and Road Initiative (BRI), the construction of Kyaukphyu deep-sea port is slated to kick off
