Thai steel manufacturers have fresh concerns over the impact of the suspension of foreign loan payments in Myanmar on steel exports to Myanmar. Myanmar’s central bank instructed companies and individual borrowers to suspend paying principal and interest to foreign lenders in a move to slow the country’s decreasing foreign exchange reserves. Authorities ordered companies with […]
Read MoreBANGKOK (AP) – Army-ruled Myanmar’s economy remains fragile as civil strife, inflation and onerous policy decisions add to troubles facing farmers and businesses, reports by the World Bank and other experts said yesterday. Conditions have improved since last year, right after the military ousted the elected government of Aung San Suu Kyi, but the country […]
Read More(Bloomberg) — The outlook for Myanmar’s economy remains weak as surging inflation, dollar shortages and lingering domestic conflict pose challenges to its pandemic recovery, according to the World Bank. The lender estimates that gross domestic product in 2022 will be about 13% lower than in 2019 despite a better-than-previously expected 3% GDP growth seen for […]
Read MoreThe Central Bank of Myanmar’s order for companies and individual borrowers to suspend repayment of foreign loans, the latest in a series of steps to shore up the nation’s dwindling foreign exchange reserves, is unlikely to have a significant impact on Thai exports, says the Thai National Shippers’ Council (TNSC). According to Chaichan Chareonsuk, chairman […]
Read MoreMost Thai listed companies will experience limited impact from the Central Bank of Myanmar’s order to temporarily prohibit companies and retail borrowers from repaying foreign loans to sustain the country’s foreign exchange reserves as most Thai companies operating in Myanmar do not have debts in foreign currency. However, analysts at Asia Plus Securities (ASPS) said […]
Read MoreThai businesses operating in Myanmar have been advised to seek funding sources in Thailand or other countries after the Central Bank of Myanmar (CBM) suspended loan repayment in foreign currencies. The Department of International Trade Promotion (DITP) director-general Phusit Rattanakul Seriroengrit said on Tuesday that CBM asked commercial banks across the country on July 13 […]
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