Ministry of Finance (Myanmar)

Ministry of Finance
ဘဏ္ဍာရေးဝန်ကြီးဌာန
Agency overview
Formed 1948 (1948)
Type Ministry
Jurisdiction Government of Burma
Headquarters Naypyidaw
Minister responsible
Deputy Ministers responsible
  • Lin Aung
  • Maung Maung Thein
Website www.mof.gov.mm

The Ministry of Finance (Burmese: ဘဏ္ဍာရေးဝန်ကြီးဌာန; abbreviated MOF; formerly the Ministry of Finance and Revenue) administers Burma's monetary and fiscal policies.

Ministry of Finance is currently led by Win Shein, who was appointed by President Thein Sein on 7 September 2012.[1] The Ministry of Finance's State Lottery Department administers the Burmese lottery.

See also

Financing Geothermal projects in Myanmar use an estimated break even power cost of 5.3-8.6 U.S cents/kWh or in Myanmar Kyat 53-86K per kWh. This pegs a non-fluctuating $1=1000K, which is a main concern for power project funding. The main drawback with depreciation pressures, in the current FX market. Between June 2012 and October 2015, the Myanmar Kyat depreciated by approximately 35%, from 850 down to 1300 against the US Dollar. Local businesses with foreign denominated loans from abroad suddenly found themselves rushing for a strategy to mitigate currency risks. Myanmar’s current lack of available currency hedging solutions presents a real challenge for Geothermal project financing.[2]

References

  1. ↑ Thein Sein (7 September 2012). "Appointment of Union Ministers Order No. 30/2012". President Office. Retrieved 27 June 2015.
  2. ↑ DuByne, David (November 2015), "How Myanmar can Hedge Foreign Loans for Geothermal Projects to Mitigate Kyat Devaluation Risks" (PDF), OilSeedCrops.org

External links

This article is issued from Wikipedia - version of the Monday, March 07, 2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.