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India and Myanmar are advancing discussions on a local currency trade settlement mechanism using the Rupee and Kyat to enhance bilateral trade. Key challenges include addressing non-tariff barriers, improving trade financing, and overcoming infrastructural deficits, while the success of this initiative hinges on achieving balanced trade and formalizing existing practices. The mechanism aims to lower transaction costs and settlement times, fostering deeper economic ties in line with India's "Act East" policy.
China is grappling with a complex situation in Myanmar following an attack on its consulate, which has heightened fears of chaos in the region. The Chinese government has expressed serious concerns and demanded an investigation, as it navigates its support for the military junta while managing relationships with armed ethnic groups. Recent military setbacks for the junta raise questions about its stability, prompting China to exert pressure on rebel forces to maintain order and prevent a disorderly collapse of power.
Myanmar's military junta has created a challenging currency system, making the foreign-exchange market difficult for traders. Despite the odds, one local trader has achieved a remarkable 22% return on the volatile kyat, though his success is questionable given the lack of significant counterparties in the market.
World Bank Vice President Martin Raiser concluded his visit to Bangladesh, pledging support for reforms aimed at achieving inclusive and sustainable growth. The World Bank's $2.3 billion program will enhance economic resilience, aid flood recovery, and support the Rohingya population. Raiser emphasized the need for improved governance and job creation for the 2 million youth entering the job market annually.
MMR
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10:25 23.10.2024
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13:03 22.10.2024
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13:44 19.09.2024
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