Myanmar Plans Its Own Digital Currency This Year to Lift Economy
- Junta mulls joint venture with local firms on digital project
- GDP to grow 1% in fiscal year after shrinking 18%: World Bank
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Myanmar’s military government plans to establish a digital currency to support domestic payments and boost the economy within the year and is assessing how to move forward, according to a top spokesman of the State Administration Council.
“We are undecided whether we should do it as a joint venture with local companies or by the government alone,” said Major General Zaw Min Tun, who is deputy information minister in the junta that toppled civilian government a year ago. “A digital currency will help improve financial activities in Myanmar.”