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Mizzima: Currency dealer sentenced



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       Currency dealer sentenced to 7 year-imprisonment under ESA

Rangoon, July 4, 2001
Mizzima News Group (www.mizzima.com)

The military government in Burma has jailed a currency dealer in Rangoon
for seven years imprisonment under Emergency Security Act (ESA), which
is traditionally used against its political opponents. Ma Khin Aye, who
owns a store near Myaynigone Point in Rangoon, was recently sentenced to
seven years in jail for her alleged role in the "currency slide" which
the military-run Burma witnessed two months ago.

Burma's currency, the kyat, fell to lowest record in its exchange with
foreign currencies in April and May until the government cracked down on
black-market moneychangers in Rangoon and other cities. The kyat sank to
850-900 per US dollar in mid May as lowest ever-level while the official
exchange rate is pegged at six kyat a dollar.

The authorities had arrested several dozens of moneychangers, including
Ma Khin Aye, by the end of May to prevent further currency drop. While
many of them have been reportedly released since then, Ma Khin Aye was
sentenced for seven years imprisonment under 5 J of the Emergency
Security Act (ESA) by a court in Rangoon last month.

"We are surprised that while big moneychangers on Magol Street
(Shwebontha Street) are released, the authorities have jailed Ma Khin
Aye", commented a money dealer in Rangoon.

Ma Khin Aye, a not-very-big currency dealer who also has a travel and
tour business, had worked as moneychanger since 1998.

At present, the kyat is being traded at 560 per US dollar in Rangoon.



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<center><b><font color="#000099"><font size=+2>Currency dealer sentenced
to 7 year-imprisonment under ESA</font></font></b></center>

<p><i><font color="#CC0000"><font size=+1>Rangoon, July 4, 2001</font></font></i>
<br><i><font color="#CC0000"><font size=+1>Mizzima News Group <a href="http://www.mizzima.com";>(www.mizzima.com)</a></font></font></i>
<p><font size=+1>The military government in Burma has jailed a currency
dealer in Rangoon for seven years imprisonment under Emergency Security
Act (ESA), which is traditionally used against its political opponents.
Ma Khin Aye, who owns a store near Myaynigone Point in Rangoon, was recently
sentenced to seven years in jail for her alleged role in the "currency
slide" which the military-run Burma witnessed two months ago.</font>
<p><font size=+1>Burma's currency, the kyat, fell to lowest record in its
exchange with foreign currencies in April and May until the government
cracked down on black-market moneychangers in Rangoon and other cities.
The kyat sank to 850-900 per US dollar in mid May as lowest ever-level
while the official exchange rate is pegged at six kyat a dollar.</font>
<p><font size=+1>The authorities had arrested several dozens of moneychangers,
including Ma Khin Aye, by the end of May to prevent further currency drop.
While many of them have been reportedly released since then, Ma Khin Aye
was sentenced for seven years imprisonment under 5 J of the Emergency Security
Act (ESA) by a court in Rangoon last month.</font>
<p><font size=+1>"We are surprised that while big moneychangers on Magol
Street (Shwebontha Street) are released, the authorities have jailed Ma
Khin Aye", commented a money dealer in Rangoon.</font>
<p><font size=+1>Ma Khin Aye, a not-very-big currency dealer who also has
a travel and tour business, had worked as moneychanger since 1998.</font>
<p><font size=+1>At present, the kyat is being traded at 560 per US dollar
in Rangoon.</font>
<p>&nbsp;</html>

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