Myanmar orders companies, banks to suspend foreign loan repayments, report media

JULY 16 — Myanmar's central bank has ordered local companies and banks to suspend and reschedule repayment of foreign loans, according to local media, its latest effort to exert control over foreign currency flows.

"According to foreign currency law and foreign currency management rules, the repayment of foreign loans including original and interest values should be suspended and licensed banks should rearrange with their customers ... regarding repayment schedule," the central bank statement said.

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