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Reuters
More than 100 days after Myanmar’s military took power from the country’s democratically elected government, fighting between troops and ethnic insurgents has left tens of thousands of displaced women and children facing a humanitarian crisis, groups monitoring the situation said Thursday.
Since launching a Feb. 1 coup, the military, or Tatmadaw, has gone on the offensive in Myanmar’s remote Kachin and Karen states, regularly conducting airstrikes against insurgents in the two regions. The intensified clashes have caused hundreds of thousands of residents to flee their homes and rely on aid as internally displaced persons (IDPs).
The Karen National Union’s (KNU’s) Fifth Brigade announced on March 5 that it would stand with protesters nationwide in demanding the return of a federal democracy, prompting an intensification of fighting with the Tatmadaw. Refugees have said that around 100,000 people have since been displaced from the Fifth Brigade’s a
Myanmar’s parallel finance minister has warned that he will not meet the debts of the junta
Myanmar’s interim national unity government has warned foreign banks to grant loans to the Min Aung Hlaingen junta, saying it will not recognize the debt after it regains power.
The warning was issued by the Finance Minister parallel government Aung San Suu Kyi, made up of supporters of the fallen leader. He said financial institutions should follow foreign investors to boycott the military regime.
“The NUG government will not accept any domestic or international debt created by the junta,” Tin Tun Naing told the Financial Times in a video interview inside Myanmar.
Myanmar Junta Reaps Millions in Gem Sales as Economy Crumbles
A buyer examines a piece of jade at a gems market in Mandalay, Myanmar, in March 2019. Photo: IC Photo
(Nikkei Asia) Fresh economic data from private research groups suggest that Myanmar’s economy is deteriorating more sharply than feared after the Feb. 1 coup, with heightened risks of soaring inflation, collapsing trade and increased poverty.
At the same time, recent days have seen a remarkable display of the military’s grasp on Myanmar’s natural resources, with a multi-million dollar, 10-day auction of gems, jade and pearls in the capital, Naypyitaw.