Description:
How much further will Burma?s banks slide?...After the crash of more than a dozen finance houses that funded outside business ventures with their depositors? money, anxious bank customers rushed to withdraw their savings, thus precipitating a rundown on reserves of the national currency, the kyat.
Other banks in Burma face similar problems. At the end of last year, top bankers were forecasting a boom for 2003. Last month, however, predictions were rife that the collapse of financial houses would drag down all the 20 banks with 350 branches nationwide..."
Source/publisher:
"The Irrawaddy" Vol. 11, No. 2
Date of Publication:
2003-03-00
Date of entry:
2003-06-03
Grouping:
- Individual Documents
Category:
Language:
English