Run on banks: Panic among Depositors

Description: 

Sittwe, 22 February: "Traders and depositors in Myanma Economic Bank at Sittwe, capital of the western state of Burma, have been panicky as the State Central Bank issued an order two weeks ago, limiting the withdrawal to just half a million kyats a week an amount worth about 450 US dollars, according to our correspondent. For the workshop owners and small businessmen in the city, the amount is far less than what they need to run their enterprises let alone pay the employees, a disgruntled automobile workshop owner said. The same is true with the wholesalers of cloth, toys, rice and cooking oil, and other commodities..."

Source/publisher: 

Narinjara News

Date of Publication: 

2003-02-22

Date of entry: 

2003-06-03

Grouping: 

  • Individual Documents

Category: 

Language: 

English

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Format: 

htm

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