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MYANMAR – The National Unity Government (NUG) announced on July 27 that the 20,000 kyats worth of banknotes that the coup regime issued would not be recognized and would be considered illegal banknotes by the NUG and its successor governments.
The illegal junta-controlled Central Bank of Myanmar (CBM) announced on July 23 that it will issue and print new banknotes worth 20,000 kyats starting July 31, 2023.
NUG promulgated that the terrorist junta council, which is under pressure from all sides, has started printing a new type of banknote and regarded it as an effort to prolong their terms and replenish the funds needed to continue to perpetrate brutal terrorist attacks against the public.
The NUG’s statement also stated that the printing of illegal currency notes could lead to inflation and that the infamous junta council would steal people’s labor and hard-earned money.
It was said that the printing of new banknotes at a time when the people of Myanmar had been suffering the risk of conflict that had never been experienced before, such as armed conflicts, poverty, and epidemics, due to the irrational actions of the illegal coup council in Myanmar, could cause further hardship to the people.
Therefore, the National Unity Government’s Interim Central Bank Chairman, Mr. Tin Tun Naing, signed and announced that the 20,000-kyat notes soon to be issued by the terrorist junta council were declared illegal notes.