Sunday May 27, 2012

Japan to resume Myanmar loans after 25 years

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    Athletes

    Myanmar is a keen borrower of foreign loans. However they have dishonoured many Japanese loans for infrastructurce projects. It is another Greece who was sweet in borrowing. Not for repaying. They have no capacity or willingness to honour the agreement. Back in 1987, I have worked in Rangoon Airport Extension Project. I do not think Japan will get back the half of the loan for that project. Most of the loan for Myanmar evaporate as smokes.

    Japan is still willing to borrow the loan. It is hungry for exploring the natural resources such as natural gas, timber and minerals. There may be some off shore reserve. However on shore reserve will be very limited now. Japan is a late comer. Party may be already over.

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