EXCLUSIVE Myanmar, with $6 bln in foreign reserves, is doing utmost to stabilise currency -minister


Oct 19 (Reuters) – Myanmar’s military-appointed authorities are doing their utmost to stabilise the kyat currency and help an financial system in disaster since a coup in February, a cupboard minister advised Reuters on Tuesday, blaming the woe partly on foreign backers of opponents.

Inflation in the southeast Asian nation has soared greater than 5% for the reason that navy took energy and its foreign reserves stand equal to 11 trillion kyat, or $6.04 billion on the central financial institution’s official charge, Aung Naing Oo, the junta’s funding minister, mentioned in a uncommon interview.

He attributed Myanmar’s financial troubles to sabotage by opponents of the navy, a technique he mentioned was backed by some foreign nations, with out figuring out them.

Reporting by Poppy McPherson; Writing by Martin Petty; Editing by Clarence Fernandez

Workers count Myanmar's kyat banknotes at the office of a local bank in Yangon April 2, 2012. REUTERS/Soe Zeya Tun/