BUSINESS – Burma’s foreign debt now nearly $US10 billion

Burma is in debt to international institutions and foreign governments to the sum of $US9.5 billion as of the end of this fiscal year, according to Minister of Finance Dr Lin Aung. Speaking in parliament on Thursday, he said nearly the half the debt was owed to China with the rest divided among 16 other countries as well as the Asian Development Bank and the World Bank. No mention was made about fiscal policy nor whether Naypyidaw was taking steps to combat the national debt.