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Back Issue on World Bank/Burma



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Dear BurmaNetters, Maykha Readers,Burma Watchers,
                                                                            
                              Here's some outdated piece of information but
I reckon it to be worthwhile to take into account if you're a policy maker
for your government or your political group trying to influence the Burmese
situation.

Sincerely,

Julien Moe
___________

NEWS RELEASE
News Release No. 99/1930/EAP  Contacts:  Andrea Beckwith (202) 473-4051
Peter Stephens (202) 458-2281
Fax: (202) 522-3405 


WORLD BANK PLACES CREDITS TO UNION OF MYANMAR IN NON-ACCRUAL STATUS 

Washington, September 4, 1998 ? Effective September 2, 1998, the World Bank
has placed all credits to the Union of Myanmar in non-accrual status. 

This action was in accordance with the Bank?s established policy of placing
all its loans and credits to, or guaranteed by, a country in non-accrual
status if payment on any loan or credit is overdue by more than six months. 

At the date of this action, credits from the International Development
Association (IDA), the Bank?s concessional lending arm, to the Union of
Myanmar totaled US$719.92 million equivalent as of July 31, 1998, with total
arrears of US$14.02 million equivalent as of September 2, 1998. 

Source:World Bank