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Myanmar

  • Myanmar army kills journalist it calls rebel
    YANGON, Myanmar – Myanmar’s army shot dead a journalist who was detained while covering clashes between the army and ethnic rebels at the rugged border, saying he reached for a soldier’s gun during an attempted escape, the press
  • Myanmar says 2015 election won’t be delayed
     YANGON, Myanmar – Myanmar says it will hold a general election in late 2015 as planned, countering rumors that the vote could be postponed.
  • Thai prime minister to visit Myanmar
      YANGON, Myanmar – Thailand’s appointed prime minister, Gen. Prayuth Chan-ocha, makes his first official overseas trip Thursday since seizing power in a military coup.
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Japan is canceling $3.58 billion in Myanmar debt

YANGON, Myanmar – Japan says it is canceling $3.58 billion in debt owed by Myanmar.

A Japanese Embassy statement Wednesday said the move is intended to help Myanmar’s efforts in democratization, national reconciliation and economic and social reform.

Myanmar accumulated $8.4 billion in foreign debt during the socialist regime of the late Gen. Ne Win from 1962 to 1988, and $2.61 billion under the military junta that took over in 1988. An elected government took power in 2011.

The World Bank announced Sunday that the Japan Bank for International Cooperation, Japan’s overseas development bank, will provide a bridge loan to Myanmar to cover outstanding debt to the World Bank and the Asian Development Bank totaling about $900 million. That will allow them to provide new development loans.

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