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Reuters-Myanmar complains it ignore
- Subject: Reuters-Myanmar complains it ignore
- From: tinkyi@xxxxxxxxxxxxx
- Date: Sat, 01 May 1999 20:26:00
Subject: Reuters-Myanmar complains it ignored by Asian Dev. Bank
Myanmar complains it ignored by Asian Dev. Bank
07:14 a.m. May 01, 1999 Eastern
MANILA, May 1 (Reuters) - Myanmar on Saturday questioned the Asian
Development Bank's reluctance to extend financial and technical assistance
to it and said it was time the multilateral agency changed its policy.
``The bank has ignored providing assistance to Myanmar although Myanmar has
been striving to develop her economy...It is opportune time to provide its
assistance to Myanmar,'' Finance and Revenue Minister Khin Maung Thein said
in his speech at the annual meeting of the Manila-based ADB.
The ADB ceased leading to Myanmar, formerly Burma, in 1986 and stopped
extending technical assistance in 1987.
The bank said this was due to the country's dual exchange rate system, which
gave its currency differing values.
Khin Maung Thein said Myanmar should be treated in the same fashion as other
ADB members. ``It is unfair to neglect Myanmar because Myanmar has been a
legitimate member of the bank since 1973...Myanmar wants to be treated
equally,'' he said.
ADB officials said they were observing Myanmar's economy and would formulate
an operational strategy at the appropriate time.
((Sharon Buan, Manila newsroom +632 841-8914, fax +632 817-6267,