International companies struggle to get dollars in Myanmar

Image from Laotian Times.

YANGON, Sept 9 (Laotian Times): Foreign companies in the country are grappling with an increasing shortage of US dollars, with the military government’s unpredictable foreign currency regulations putting their business operations at risk.

Foreign companies in Myanmar need US dollars to pay offshore vendors for the supply of raw materials and commodities. However, since the military seized control in February 2021, it has been extremely difficult for them to obtain dollars from banks.