Reuters-World Bank cuts off Myanmar (r)

[ktint@xxxxxxxxxxxxx]

Hi Gaimusho-san:

It is quite fair a decision. 
I urge Japanese Government to follow the suit instead of regular 
extension of grant-in-aid by billions of yen, absolutely wasting 
tax-payer's money. Please (both Shosha and Gaimusho) halt  undermining 
the will of Burmese people. 

K. Tint

>World Bank cuts off Myanmar 
>01:58 p.m Sep 04, 1998 Eastern 
>
>WASHINGTON, Sept 4 (Reuters) - The World Bank on Friday cut financial ties
>to Myanmar, saying it would not consider giving the government any more
>money because it had failed to make repayments on past loans. 
>
>In a rare and severe step, the Washington-based lending agency said it
>placed loans and credits to the Myanmar government in ``nonaccrual''
>status, meaning the country will not be able to borrow money from the World
>Bank until it clears its arrears, estimated at $14 million. 
>

In another recent NEWS:

>Japan Provides More Aid to Myanmar
 Xinhua
 04-SEP-98

   YANGON (Sept. 4) XINHUA - Japan has extended to Myanmar a grant-in-aid 
of 2 billion yen (15 million U.S. dollars) for debt relief, according to 
a press release of the Japanese Embassy here Friday. 
    Notes to this effect were exchanged on the same day here between the 
two sides. 
    The grant-in-aid was extended to relieve the burden of debt the 
Myanmar government owes to the Japanese government, the press release 
said. 
    Japan, one of the major donors of Myanmar, has extended 20 
grants-in-aid for debt relief to the country. 
     According to official statistics, Japan's investment in Myanmar 
reached 206 million dollars in 17 permitted projects at the end of April 
this year, ranking ninth among 23 countries or regions which have a total 
of 7 billion dollars of investment in the country.


KT