Arbil, November 30 (Rn) – The U.S. Secretary of State Hillary Rodham Clinton’s historic visit to Burma, the Southeast Asian country that has isolated a long time to test the civilian government in the country the first time in decades on the commitment to reform, including cutting military ties and nuclear with North Korea. according to Fox News, Wednesday. (more…)
Posts Tagged ‘Aung San Suu Kyi’
Burma Seeks IMF Help to Modernize Currency Exchange System
Posted: August 9, 2011 in Investment Tips, Other CurrenciesTags: Asia, Aung San Suu Kyi, Burma, Economic, exchange rate, International, International Monetary Fund, Myanma kyat
Burma’s state-controlled media say the government has asked the International Monetary Fund to help it reform a complex foreign exchange system that has become a barrier to economic growth.
IMF officials confirmed to Reuters news agency this week that a team will travel to Burma in the second half of October to assist in the reforms. A spokeswoman said the team will help Burma to modernize the system and lift restrictions on the making of payments and transfers for international transactions.
Burma maintains an official exchange rate of 6 kyats to the U.S. dollar, compared to rates ranging around 800 to one on public markets. The country also has other rates for specific types of transactions.
