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

By Associated Press Friday, July 25, 2008 - Added 7m ago BANGKOK, Thailand - 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 today. 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... [read full story]                    

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