politics

Japan to waive Y300 bil of Myanmar's debt

17 Comments

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© 2012 AFP

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17 Comments
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And the taxpayers of Japan will show their 'gratitutes' to Mr Noda's generous action for their hard earned money 'evaporized'!

1 ( +7 / -6 )

As a first step, Japan will waive 127.4 billion yen in debt that was first agreed in 2002 but was suspended while the country was in the grip of the military regime,

so it was just agreed but money was never given to Myanmar? or am i missing something important here?

The remaining 176.1 billion yen, including interest and delay penalties,

looks like sarakin (loan shark) calculations.

anyway, good relief for japanese taxpayers since the actual amount is too small.

0 ( +1 / -1 )

Here a waive there a pledge old mc Noda had a farm With a 300 here in Burma and a 300 there in Euro And on that farm live a tax payer. Old mc Noda had a farm with an ouch ouch here an ouch ouch there.

0 ( +4 / -4 )

well done! i like to see more of this kinda news.

-1 ( +2 / -3 )

Japan should not waive the large amount of the taxpayers money. Someday when Myanmar had a really better economy, Japan should let it pay back some amount of the money. Don't give up all.

-3 ( +2 / -5 )

During its years of isolation, Japan-unlike its Western allies-maintained trade ties and dialogue with Myanmar, warning that a hard line on the then-ruling junta could push it closer to China, its key ally and commercial partner.

Is it just me, or does anyone else see incredible hypocrisy from Japan's side? They were worried Burma could become "closer to China" - yet Japan herself maintained China as her number one partner in trade.

Anyway, Burma still stinks and is far from a free country, the military still run the show. There are now serious hitches emerging preventing Suu Kyi from taking office. I will believe in the "democratic reforms" when they actually happen.

0 ( +1 / -1 )

some14some,

Money was indeed lent to Myanmar by Japan. That's where the original debt came from. It's this money, or rather 300 billion yen of it, that Japan intends to write off as long as Myanmar continues with its democratic reforms.

This sort of carrot-stick type of debt forgiveness is very common between wealthy nations and developing nations, particularly when looking to entice them towards less violent government systems.

1 ( +2 / -1 )

Okay, what?? Are the banks going to waiver Japan's debts? This country is out of control with bailing out and investing in other countries and yet, those living in this country are footing the bill and will so for generations to come. Why is the public not demanding a stop to this outrageous spending?? I 100% understand wanting to help countries but Japan is NOT in the position to be throwing cash around like it is.

-1 ( +2 / -3 )

Burma is flush with oil. Japan had its first year in decades with a trade deficit last year because it shut its reactors. The US pressured Japan not to buy Iranian oil. This is not charity, or not completely anyway. It's realpolitik.

2 ( +4 / -2 )

Nessie's correct. It's the way the world works. And honestly, taxpayers aren't going to feel a yen of this. Didn't ten years ago. Won't ten years from now.

0 ( +1 / -1 )

Someone wants to be first in line for the buffet....

0 ( +0 / -0 )

Burma is rich in natural resources that Japan eagerly needs. Providing aid and waiving off debts are some of the ways of ensuring future business contracts.

1 ( +1 / -0 )

So long term, is it to Japan's advantage to do this? I guess so if they can waive that amount of money. Next on the list is N. Korea . . .

0 ( +0 / -0 )

Magic formula to cash in billions : cook up a posture of post-US amid an opportunity brought along by international geopolitics --> receiving a few US officials with vague promises --> open your pocket & wait.. Magic will be bring in cash NOT by the US but its loyal followers like Japan..not the end then... The Chinese, not crossing their arms, will bring even bigger checks with even higher bids.. The magic game will carry on for a decade or so.. Democratization ? Who wants to lose grip of power ?

0 ( +0 / -0 )

Thank You so much Japan and Japanese government! It's really a great step forward for ever be great developments and opening wide space, zones and safe hevens for Japanese companies and capitals from those destructive and continued natural disastors! Ever be wise and brave Japanese to new ways and safe lands for yours/world shared souls of high professionals, intellectual properties, trillions of high valued currencies and assets! Please, strive thinking in new ways to save Japanese, not only by overseas companies, but by overseas freezones! Let Myanmar or any other safe countries be be the start!**** Yes, instead of trillions of dollars and Yens, souls and assets damaged or washed to the ocean and Japan sea by continued earthquakes

0 ( +0 / -0 )

yes best way to suck up to the leaders of emerging markets is plenty of bribes disguised as waivers.

0 ( +0 / -0 )

Almoros Idriss,

About your Apr. 23, 2012 - 02:05AM JST post. Were you being sarcastic? I can't really tell what your point is.

0 ( +0 / -0 )

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