You choose, we deliver
If you are interested in this story, you might be interested in others from The Journal Gazette. Go to www.journalgazette.net/newsletter and pick the subjects you care most about. We'll deliver your customized daily news report at 3 a.m. Fort Wayne time, right to your email.

Myanmar

  • Hunt starts for massive bell in Myanmar river
    Divers attached to safety ropes have plunged into waters south of Myanmar’s old capital as part of renewed efforts to retrieve a bronze bell that has been lying for centuries at the confluence of three rivers.
  • Planting rice traditionally in Myanmar
    Flooded paddy fields stretch along both sides of the highway leading to Myanmar’s capital where thousands of farmworkers, mostly women, uproot sprouts and then gently tap them on their feet to remove mud from the roots.
  • Kerry stayed at US-blacklisted Myanmar hotel
    YANGON, Myanmar – The U.S. says Secretary of State John Kerry did not break any rules when he stayed in a hotel owned by a tycoon blacklisted because of ties to Myanmar’s former military regime.
Advertisement

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.

Advertisement