CNI News
26 July 2023
The State Administration Council's Central Bank of Myanmar is making the public poorer by printing and issuing new 20,000 kyat notes starting from 31 July 2023, so members of the National Unity Government (NUG) need to expand the revolution, said Duwa Lashi La, acting president of the NUG.
He said as above at the NUG's 25th meeting that was held at 10:00 a.m. on 25th July, 2023.
" If we look back our country's history, we can find repeatedly that successive military governments have applied the random policy and ignored the public affairs. Now, without understanding the side-effects, they will issue the 20,000 kyat notes. The people are struggling for the daily living cost. So, members of the NUG need to have a broader perspective and expand the revolutionary process." he said.
While seeing the design of a 20,000 kyat note that will be issued by the Central Bank
As the NUG has officially opened the Spring Development Bank, it should be the people's hope that can replace the unstable Myanmar Kyat. The public is depending on Kyat. So as not to make the public labor be destroyed by the instability of the Kyat currency, NUG need to protect with modern financial strategies, he added.
"In order not to automatically lose the values of the people's labor in the air, we have to systematically establish a financial system that doesn't depend on the kyat currency so that the people can enjoy the financial system that is free from the control of the military council" he said.
In commemoration of the completion of the Maravijaya Buddha Image and in celebration of the one-year birthday of a white elephant, “Rattha Nandaka,” born on 23 July 2022, 20,000 kyat notes will be issued in a limited number which the central bank reported on 23rd July, 2023.
Because the statement was not thoroughly and clearly issued, the people were greatly worried and commodity prices including those of gold and dollar have skyrocketed.
Maj-Gen Zaw Min Tun
" 20,000 kyat notes will be issued not massively but as a commemoration. Gold coins were issued to commemorate the 75th Independence Day. At that time, how much money you have, you were not able to buy as much as you wanted. This time is also like before. When you change your very old currency notes with better ones, you will receive 20,000 kyat notes. But you won't get 20,000 kyat notes alone if you change 100 lakh kyats. You will be issued just three 20,000 kyat notes." Maj-Gen Zaw Min Tun, spokesperson of the SAC.
20,000 kyat notes will be issued in a limited number and the SAC has no plan to abolish the currencies the State has officially issued and it has no rights to abolish them, the SAC reported. The officially-issued currency by the State cannot be designated as illegally under the Section 36 (e) of the 2008 constitution
