Central Bank Of Myanmar Denies UN Report On Access To Money And Weapons

Myanmar military illustration. (Wikimedia Commons/KMK from Myanmar)

JAKARTA - Myanmar's central bank has denied reports by the United Nations that the country's military government can still access money and weapons for the war against anti-coup forces, saying financial institutions under bank supervision follow the specified procedures.

The Central Bank of Myanmar "expressed our strong objection to the UN Special Reporting Report", he said in a statement published in the junta newspaper on weekends. "The UN report is seriously detrimental to the interests of Myanmar civilians and relations between Myanmar and other countries," he continued.

The central bank said local and international banks involved in transactions with Myanmar had undergone comprehensive due diligence measures for all relations and business transactions.

"Financial transactions are only for imports of essential goods and basic necessities for Myanmar civilians, such as medicines and medical equipment, agricultural and livestock equipment, fertilizers, cooking oil, and fuel," he said.

As previously reported, Myanmar human rights whistleblower Tom Andrews reported on Wednesday last week that the country was still importing US$253 million worth of weapons, dual use technology, manufacturing equipment and other materials in the last 12 months to March, although international efforts to isolate the junta appear to have undermined its ability to buy military equipment.

The report said Myanmar received assistance from international banks, including from neighboring Southeast Asia, Thailand, for its purchases.

The report also said exports from Singapore had fallen to about 10 million US dollars from the previous more than 110 million US dollars in 2022, but Thai companies in Thailand partially covered up the gap, transferring $120 million worth of weapons and materials by 2023, double the previous year.

Separately, Thailand's Ministry of Foreign Affairs said in a statement on Thursday the country's banking and financial institutions followed protocols such as other major financial hubs, adding the government would investigate the UN reporting.

Facing its biggest challenge since the 2021 coup against Nobel laureate Aung San Suu Kyi, Myanmar's military has been caught in various low-intensity conflicts and is struggling to stabilize the economy that is collapsing.

Western countries have imposed various financial sanctions on the Myanmar military, banks and related businesses.