Kaladan News
Dated:
US Sanctions Cripple
Chittagong, August 19: US sanctions against Burma have
plunged the military State’s ailing
economy into
chaos, crippling trade and
prompting the junta to
devise ways of beating the
measures, analysts say,
according to AFP,
The law bans all imports into the
356 million dollars annually, and freezes the regime’s
property holdings and financial
assets in US banks as
well as halting foreign
remittances.
transactions are already refusing
to process
transactions with their
the flow of greenbacks in and out
of the country and
triggering confusion for
import-export traders over
how to proceed with their business.
Apart from the thousands of workers who stand to lose
their jobs as textile factories
producing garments for
the
has to pay much higher prices for
some essentials
goods.
Dollar crisis worsened in
economic restrictions. One of
has described the
unjust and inhumane act that will
cause chaos and
anarchy.
For the cause of financial hardship, the SPDC
authorities are forcibly collecting
money from the
villagers under the pretext of
holding football
tournament in northern Arakan. They
are collecting
Kyat 10,000 to 12,000 from every village for football
tournament and other kinds of toll,
said a Village
Peace and Development Council member. ##
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