Myanmar to consider launching national digital currency
The Myanmar government, which came to power as a result of a military coup, plans to launchttps://lh3.googleusercontent.com/mg4glZnplQag3s1pgCShw5Nhspvw356a0QdADFqXIZroDbCnWm00CMQBqF4aYRO0XxDt_KcfzPkGo-tD7DLl3E18_VJKq2gpBJbvPa3mI-PkeGs=s750h CBDC. This was reported by Bloomberg.
"We haven't decided whether we should implement the project on our own or with local companies," said Zaw Min Tun, deputy minister of information.
The official said the digital currency will support domestic payments and economic growth.
Win Myint, director of the Central Bank of Myanmar's Monetary Authority Department, explained that the project is under discussion.
The initiative comes two months after the deposed government recognized USDT as the official currency. Supporters of the arrested leader Aung San Suu Kyi began fundraising for the campaign to overthrow the military regime.
The World Bank, which estimated that Myanmar's GDP will fall by 18% in fiscal year 2021
