The large financial reserves of the army are not immune to the deleterious context that Burma has been going through since the coup d'état of February 1. At the head of several conglomerates established in key sectors of the economy (banking, telecommunications, gas extraction, mining, etc.), Tatmadaw, the name given to the Burmese army, nevertheless has a well-stocked portfolio. According to a report by Independent Economists for Myanmar (IEM), a collective of Burmese and foreign economists formed in the aftermath of the coup, the military holds
"at least $ 4 billion"
in overseas accounts, or
"two-thirds of the country's foreign currency"
, and can count on the 2.5 billion dollars generated each year by its companies.
Read also:
In Burma, the economic crisis is added to political chaos
But the stagnation of the conflict between the men in uniform and the anti-coup activists, to which must be added the dire economic outlook (the World Bank forecasts a 10% recession in 2021) and the Covid-19 health crisis little by little
This article is for subscribers only.
You have 75% left to discover.
Freedom has no borders, like your curiosity.
Continue reading your article for € 1 for 2 months
I ENJOY IT
Already subscribed?
Log in