Govt repays US$1.495 bln debt using State income without new foreign loans

The government repays debt of $1.495 billion using State income without taking further loans from foreign countries, said Maj-Gen Zaw Min Tun at the 21st Press Conference of the Information Team of the State Administration Council.
“The government conscientiously pays back the capital and interest of foreign loans yearly to date like the first government term of democracy,” he said.
The Information Team leader continued that ” The current government makes loan repayment of $1.495 billion using the State income.”
Some businesses are suspended as the government does not receive any foreign loans. The government focuses on State development without taking foreign loans and financial assistance. The former governments took international business loans and development finance. The support of international countries is crucial to a developing country, he added. — TWA/GNLM