Fighting in Shan, Rakhine and Karen states has brought cross-border trade at the country’s key land import and export hubs to a virtual standstill since October.
National Unity Government also accused the more than 100-year-old Myanmar Federation of Chambers of Commerce and Industry of funding regime’s war crimes and genocide.
The Myanmar Economic Monitor says rising armed conflict since October and the regime’s economic mismanagement have restricted growth.h
Industrial zones have been told to secure their own fuel as the junta can no longer afford to subsidize imports.
The junta’s Central Bank of Myanmar can no longer afford to offer fuel importers its official exchange rate of 2,100 kyats per dollar.
The National Unity Government says more than 44 billion kyats were seized by resistance forces from private banks in Kawlin when the Sagaing Region town fell last month.
Jin San Jiao is latest northern Shan State trade hub in crosshairs of ethnic Brotherhood Alliance.
A Russian financial delegation is in Myanmar to discuss ways to boost trade and reduce dollar dependence.
The regime has invited Myanmar’s construction companies to develop a Rakhine State deep-sea port to link southern China with the Indian Ocean.
Traders report huge losses while the regime is being deprived of up to half a million dollars in tax revenue per day.
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