On Shaky Ground

Description: 

How much further will Burma?s banks slide?...After the crash of more than a dozen finance houses that funded outside business ventures with their depositors? money, anxious bank customers rushed to withdraw their savings, thus precipitating a rundown on reserves of the national currency, the kyat. Other banks in Burma face similar problems. At the end of last year, top bankers were forecasting a boom for 2003. Last month, however, predictions were rife that the collapse of financial houses would drag down all the 20 banks with 350 branches nationwide..."

Creator/author: 

Naw Seng

Source/publisher: 

"The Irrawaddy" Vol. 11, No. 2

Date of Publication: 

2003-03-00

Date of entry: 

2003-06-03

Grouping: 

  • Individual Documents

Category: 

Language: 

English

Format: 

Size: