Myanmar Central Bank Revamp to End Army Legacy: Southeast Asia
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The Central Bank of Myanmar will undergo its biggest revamp since the military junta set it up in 1990 as lawmakers prepare to vote on a bill that would allow it to conduct an independent monetary policy.
The proposed legislation, drafted with the help of Japan, Thailand, the International Monetary Fund, World Bank and Asian Development Bank, will pass with only “superficial changes” in parliament, according to Win Myint, a lawmaker who sits on the bank’s monetary affairs development committee. President Thein Sein may sign the bill next month, he said.