Some businesses have been suspended due to non-acquisition of loans during the SAC reign, and Myanmar has a foreign debt of US$ 10.68 billion as of the end of June 2022, said Major General Zaw Min Tun, spokesman of the State Administration Council (SAC) and Deputy Minister for Information.

This was said during the 21st press conference of the SAC information team held in Nay Pyi Taw on November 18 for the finance and trade sector.

"International economic loans and development loans have been obtained by successive governments. During this government, we have not made any additional loans. Some businesses have been suspended as we don’t make any addition loans. I would also like to say that in the current situation, the government is developing the country without obtaining foreign loans and subsidies," said Major General Zaw Min Tun.

In addition, under President U Thein Sein era, the foreign debt was US$ 7.91 billion during the 2011-2012 calendar year and US$ 9.53 billion in the 2015-2016 calendar year. Under the NLD government era, there was a debt of US$ 9.14 billion during the 2016-2017 calendar year and US$ 12.08 billion in the period of 2020-2021. Under the current government, the foreign debt is US$ 11.42 billion until the end of 2021-2022 and 10.68 billion until the end of June 2022, he said.

In addition, Major General Zaw Min Tun said that since the time of the first democratic government, their government has been responsibly repaying the capital and interest of foreign debts every year, and regarding the repayment of foreign loans, US$ 1.495 billion has been repaid from national income.

When the parliamentary democratic government came to power, it used a mixed economic system that combines project, economic and market economic systems. According to the records of the parliamentary democratic government, Myanmar owed more than 1,080 million kyats to the British government and India. During the time of Prime Minister U Nu, the Pyi Taw Tha project was implemented but failed, and the project loan was US$ 380 million and the loan from the Asian Development Bank was US$ 235 million. US$ 4.29 billion remained to be paid as the debt borrowed by successive governments before 1988. From 1988 to 2011, the outstanding amount to be paid was US$ 2.02 billion, from 2011 to 2016, it was US$ 3.78 billion, and from 2016 to 2020, it was US$ 1.25 billion, he said.

Major General Zaw Min Tun said that by continuing to talk with statistics, it will clearly see how much Myanmar's debt was during the previous successive governments without borrowing again under this government era and how much they paid.