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 Maj Gen 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.”
The World Bank estimates Myanmar’s economy shrank 18% in the fiscal year ended in September 2021, and forecasts growth of just 1% through September this…
