Description:
February 26, 2003—"Burma?s banks are more like a dubious "Ponzi" or pyramid scheme than well-run commercial banks. Between 1962 and 1988, the banks in Burma were all state-owned, and lent primarily to state owned enterprises. After 1988, the declaration of a so-called open market economy made way for private commercial banks, but they were never built on strong capital..."
Source/publisher:
"The Irrawaddy" Commentary Archive
Date of Publication:
2003-02-26
Date of entry:
2003-06-03
Grouping:
- Individual Documents
Category:
Language:
English