Myanmar’s central bank talks up stability amid economic challenges
The Central Bank of Myanmar pledged 18 August to assist private banks that may run into financial difficulties, looking to address recent speculation that some financial institutions were heading for a crash due in part to the recent depreciation of the kyat.
Central Bank officials held a meeting with representatives from several private banks on 17 August before declaring in a statement that reports of the latter’s collective slide, including Kanbawza Bank and the Tay Za-founded Asia Green Development Bank, were baseless.
