UN says as much as 25 percent of cyclone aid lost to Myanmar currency controls

As much as 25 percent of cyclone relief aid in Myanmar is being lost because of the military government's foreign exchange system, a United Nations official said Friday. Dan Baker, the U.N. humanitarian coordinator for Myanmar, said he is concerned that the losses could upset donors who have already shown a reluctance to fund the relief effort following the May 2-3 cyclone that killed 84,537 people, according to the government. "This is a big issue. This is a big concern," Baker said. "The donors aren't going to give us money if they know they will (lose) a percentage of that. This is not an issue we can let go by." Myanmar requires that foreign aid money be converted first into Foreign Exchange Certificates at a set price and then into the country's national currency, the kyat. The certificates have been worth as much as 25... [read full story]