SAC Information Team Leader dispels rumours of demonetization

A fake notification was spreading on the social network that K5,000 and K10,000 notes issued by the Central Bank of Myanmar were declared illegal yesterday starting 2 pm. Concerning the issue, Major-General Zaw Min Tun, leader of the Information Team of the State Administration Council clarified as follows: –
“Section 36 of the 2008 Constitution clearly states about the economy of our country. The State Administration Council is a government that abides by the 2008 Constitution as an existing law.
”Therefore, subsection (e) of Section 36 of the 2008 Constitution states that it shall not demonetize the currency that is in circulation legally. We will strictly follow that stipulation now and also in the future.
”Then, subsection (d) adds it shall not nationalize economic enterprises. We will follow the Constitution.
”The terrorist groups — NUG and CRPH not only commit destabilization but also spread rumours of unrest in the country.
”There have been similar incidents in the past that K10,000 notes are abolished. So, what I want to say to the people is that the State Administration Council strictly abides by the 2008 Constitution. As such, the legally issued notes would not be demonetized according to subsection (e) of Section 36. The people should not believe in such rumours and chaos. – MNA