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Reuters-World Bank cuts off Myanmar (r)
- Subject: Reuters-World Bank cuts off Myanmar (r)
- From: ktint@xxxxxxxxxxxxx
- Date: Sat, 05 Sep 1998 08:07:00
I urge Japanese Government to follow the suit instead of the regular
extending of the
>World Bank cuts off Myanmar
>01:58 p.m Sep 04, 1998 Eastern
>
>WASHINGTON, Sept 4 (Reuters) - The World Bank on Friday cut financial ties
>to Myanmar, saying it would not consider giving the government any more
>money because it had failed to make repayments on past loans.
>
>In a rare and severe step, the Washington-based lending agency said it
>placed loans and credits to the Myanmar government in ``nonaccrual''
>status, meaning the country will not be able to borrow money from the World
>Bank until it clears its arrears, estimated at $14 million.
KT