‘We have enough foreign reserves’

The nation has sufficient foreign reserves to avoid an economic crisis similar to Sri Lanka’s, the military government said, pushing back on suggestions by some analysts that the South-East Asian nation faces a growing possibility of default.

Major General Zaw Min Tun, a spokesperson for the State Administration Council, said at a press conference on Tuesday that Myanmar has a “fair share of foreign-currency reserves”, including US dollars and yuan, without giving specific figures.