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The World Bank's Action on Burma la



Subject: The World Bank's Action on Burma last year

NEWS RELEASE
 News Release No. 99/1930/EAP 
                                                                       
Contacts: 
                                                                                 
Andrea Beckwith (202) 473-4051
                                                                                 
Peter Stephens (202) 458-2281
                                                                                 
Fax: (202) 522-3405


WORLD BANK PLACES CREDITS TO UNION OF MYANMAR IN NON-ACCRUAL
STATUS 

Washington, September 4, 1998 ? Effective September 2, 1998, the World 
Bank has placed all credits to the Union of Myanmar in non-accrual 
status. 

This action was in accordance with the Bank?s established policy of 
placing all its loans and credits to, or guaranteed by, a country in 
non-accrual status if
payment on any loan or credit is overdue by more than six months. 

At the date of this action, credits from the International Development 
Association (IDA), the Bank?s concessional lending arm, to the Union 
of Myanmar
totaled US$719.92 million equivalent as of July 31, 1998, with total 
arrears of US$14.02 million equivalent as of September 2, 1998.