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MYANMAR – The news source relates to Central Bank under junta’s council said that the terrorist junta council will pay the salaries of government employees by using 20,000 kyats banknotes in coming months, and they reduce the printing of 10,000 kyats banknotes.
The 20,000 kyats banknotes commemorating the completion of the statue of Marawijaya on July 31st and the 1 year anniversary of the white elephant will be used in employee salaries at the end of August. Gradually, the use of 20,000 kyats notes will be widespread.
The news source relates to the central bank said, “As for employee salaries, they will start paying 20,000 kyats banknotes. I don’t know how much money will be added. We know that we are already working to add 20,000 notes to the staff salaries. It is expected that 20,000 notes will be added at the end of August. In fact, it will be paid from July. The market will react greatly to the inflation of 20,000 notes, so they started to hold back for a while. It will reach to the hands of public gradually. The only difference is whether it will reach instantly or gradually.”
Meanwhile, the printing of 10,000 kyats banknotes were reduced and will print 20,000 kyats banknotes instead of 10,000 Kyats banknotes. After the time pass by, 20,000 kyats banknotes will substitute in place of 10,000 Kyats bank notes. They will not abolish 10,000 Kyats bank notes but reduce the printing and more 20,000 Kyats bank notes will be printed, and circulate in the currency market.