Union Government allowed to raise local/foreign loans with approval of SAC

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An aerial view of the office building of the Central Bank of Myanmar

It is stipulated in the Union Budget Law of the 2023-2024 financial year that the Union Government can obtain local or foreign loans with the approval of the State Administration Council.
It is also mentioned that loans for work projects or expenditures included in the Union Budget can be raised by issuing bonds or securities or by other means.
According to the section on obtaining a loan, the interest rate and necessary terms and conditions for obtaining a loan can be determined after consultation with the Central Bank of Myanmar. — TWA/KZW

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