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Myanmar owes $4953 million to foreign organisations
Category: Uncategorised Published on Wednesday, 30 November -0001 06:24 Written by Staff Correspondent Translated by A.K.K
Myanmar owes US$4,953 million to the Asian Development Bank, World Bank and 10 members of the Paris Club.
Myanmar owes US$4,953 million to the Asian Development Bank, World Bank and 10 members of the Paris Club.
Myanmar borrowed the money from ADB and the International Development Association (IDA) of World Bank in 1973-1974 and from 10 members of the Paris Club (Denmark, Germany, Canada, Finland, France, Italy, Netherlands, Norway, Austria and United Kingdom) from the start of 1970.
Myanmar borrowed $686 million from the ADB and still owes it $630 million. Of the total outstanding debt, $426 million plus interest of $96 million have to be paid before January 22, 2013.
Myanmar borrowed $860 million from World Bank and still owes it $793 million, of which $420 million will have to be paid before January 18, 2013.
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