New governor Daw Than Than Swe and her team, including ex-military officers, are expected to merely rubber stamp the junta’s erratic and damaging financial directives.
Major General Zaw Myint Naing is married to the sister of the chairman of Myanmar’s biggest private bank.
With the Myanmar currency continuing to weaken against the US dollar, fuel prices jumped by 200 kyats per liter overnight on Monday.
Exports to China and Thailand are slowing due to the junta’s insistence that all trade is carried out with US dollars at an exchange rate set by the regime.
The junta-controlled Central Bank of Myanmar’s latest restrictions on US dollars are a further sign that the economy is collapsing.
Dr. Bo Bo Nge is accused of failing to tax a donation from billionaire George Soros’s Open Society Foundation among other charges.
The Central Bank of Myanmar has responded to international pressure over its controversial order to immediately convert foreign currency into kyats.