Battered Burmese Kyat/Inflation --

[brelief@xxxxxxx]

Subject: Battered Burmese Kyat/Inflation -- Who's fault? 

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FAR EASTERN ECONOMIC REVIEW
July 4, 1996

Intelligence

Talk of the Town

Talk in Rangoon about an insect plague which may have decimated
about a third of the rice crop as well as political uncertainty have
battered the Burmese kyat and caused a steep rise in the prices of
essentials.  The black - market rate for the kyat has plunged to 145 to
the U.S. dollar, from 135 two weeks ago and 120 in May.  At the same
time, the prices of rice, onions, and cooking oil are climbing rapidly.  It
is uncertain how the ruling junta will react, but recent reports in the
state - run New Light of Myanmar are putting the blame on opposition
leader Aung San Suu Kyi.  Some observers believe that the junta may
use the economic crisis as a pretext to arrest the opposition leader.


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