It was when this loan of more than 2 trillion kyats landed.

The news was immediately transmitted back to the country.

Morning

Capital.

Central bank.

International Division.

The person in charge, Yuan Yi, organized a seminar.

Key members of the department were invited, as well as experts in economics and currency from the Institute.

Gave such a large loan to the Burmese scab.

Post-loan risk control is a must.

It's just that the situation here is really a bit complicated now, and there is no problem with the current economic development of Myanmar, but the monetary problem has suddenly become prominent, which makes the leaders of a central bank a little big.

A country.

The situation of two currencies is not uncommon in China.

But like the Burmese scab is now.

Among them, the Asian dollar, as a niche currency, has played an increasingly important role in the main currency circulation area, and even directly participated in economic activities, which made them a little confused.

It's like one day when the Hong Kong dollar suddenly circulates and settles in the country, it is so incredible.

This has never been the case before.

There is no precedent at all.

"At the end of last year, we gave Myanmar a loan of 160 billion yuan to help it develop the economy, improve people's livelihood, and carry out large-scale infrastructure construction, which was successively created by the central bank of Myanmar in accordance with the international exchange rate.

Due to the huge inflow of the Kyats into the market and the over-issuance of the Burmese government, the depreciation of the domestic currency of the Kyats began, which was within our expectations, and the value of the Asian dollar has remained stable, which is also expected.

However, what we didn't expect was that in the process of this Burmese dollar, the Asian dollar turned out to be a capital hedging pool in the Burmese country, because the Burmese country had no way to fight the idea of the Burmese dollar reserves.

Later, they discovered that the Asian dollar was freely convertible, so they used the Asian dollar as a hedging currency similar to the US dollar, and carried out a large number of exchanges, so that the Burmese dollar participated in a large number of domestic economic and saving activities.

This is not the most important thing, general commercial banks have deposit reserves for loans, and some of them must be handed over to the central bank to ensure the access of ordinary people, as well as the safety of residents' and enterprises' deposits, and to control the total flow of domestic currency.

However, the Bank of Myanmar does not have this restriction, and they can lend out all the Kyats they earn, which leads to the market circulation of the Kyats completely exceeding the original expectations, and the depreciation of the Kyats is expected to be longer and deeper.

This is not only a matter in Myanmar, but has even affected the import and export of trade with China, so that many domestic enterprises have also joined in this behavior to ensure the safety of their funds.

The purpose of this meeting is to brainstorm and explore the impact of this on the economic and trade between China and Burma, and even on the future economic development of Burma. ”

Yuan Yi first gave a comprehensive explanation of the current situation.

The experts present all looked down at the documents in their hands, and the more they looked at them, the more frightened they became.

I feel like I'm crazy.

How can such a thing be allowed.

"Wasn't there a limit to the exchange of the Kyats and the Asian Dollar before? An expert who had been involved in lending to Myanmar had gone through the documents in his hand and could not find an answer to that question.

"This time is not certain, the central bank of Myanmar has not released relevant information, and we do not have a government work report for Myanmar, we only know that there was a limit before, but when the limit is reached, it seems that the limit suddenly does not exist.

Our estimation is that the major interest groups in Burmese have made efforts to lift this limit together to facilitate their asset preservation, and you must know that the total amount of kyats in their hands is huge, and the banks that deposit Burmese will suffer serious losses.

The reasons are also easy to find, firstly, the Bank of Myanmar has half of the power to disburse renminbi, and there are many possibilities for increasing economic activity in the Myanmar-Asia Special Economic Zone and other parts of Myanmar. ”

Yuan Yi's answer.

Same as not saying.

The experts all looked at him speechlessly.

Yuan Yi was still calmly drinking tea, and he also rolled his eyes, I don't know something, what are you asking me to do?

The expert thought for a while and asked: "Then the problem now is that without the constraint of deposit reserves, there is a strong demand for value preservation from all walks of life in Myanmar, resulting in the Bank of Myanmar having a huge amount of kyats, and the Bank of Myanmar is unwilling to suffer the loss of depreciation and makes large-scale investments, resulting in the domestic liquidity of the Kyats has been completely out of control?"

"Yes. Yuan Yi nodded.

"If this continues, the inflation rate in Burmese will be frighteningly high, and Lang Cai will not fail to see this. The expert wondered.

Yuan Yi replied: "Of course he can see it, but now we think that Lang Cai has a bigger plan, and they have also tasted the benefits of economic stimulus, and now we have given so much money, and it will be gone."

Lang Cai may want to work hard again, with the help of external forces, to complete the construction of Burmese at one time, but this is all speculation, and it is unknown how it will be, but a little clue can be seen from the budget exceeding the standard this time. ”

Another expert continued: "This may not be what Lang Cai meant, it may be the result of the joint efforts of the major interest groups in Myanmar, and Lang Cai also had to compromise and agree to this budget plan that exceeded the standard." ”

I also agree with this point of view, it is likely that Lang Cai did not want to print money, and finally compromised, he was afraid that this wind would not be able to stop, after all, the power of interest groups is too strong. Someone else spoke.

"I don't agree, what is Lang Cai's prestige in Burma, I don't think I need to go into details, even if he compromises, he will not compromise completely like this, have you noticed that the loan amount this time is larger than the budget amount overrun, is this a decision made by Lang Cai who compromised?" Liu Jin, who had been silent, said.

When everyone heard it, they did the same.

Compromise is possible.

But Lang Cai's prestige is not low enough to require a completely unconditional compromise, and it is still fueling the fire.

If not a compromise.

So if it's not the initiative mentioned before, it has another purpose.

"Academician Liu, what do you think?" asked Yuan Yi. Liu Jin is that Academician Liu.

Liu Jin thought for a moment and said: "I don't agree with Lang Cai's statement that he wants to build it in place at one time, Lang Cai is not that kind of person, this is determined by character, I think he has other purposes." ”

"What purpose?" asked Yuan Yi with interest.

"Abolish the Asian dollar. Liu Jin said lightly.

As soon as these words came out, the conference room fell silent, and the sub-yuan was abolished, logically. It seems to make sense.

Liu Jin continued: "Now it is basically impossible for Lang Cai to abolish the Asian dollar through an executive order, Zero will not agree, the Myanmar-Asia Special Economic Zone will not agree, and they have an important strategic location, and the strength is not weak, and Lang Cai cannot solve the Asian dollar militarily."

Then he only through the form of economy and currency, economically, the special economic zone of Myanmar and Asia has completed the initial industrialization, borders with the three countries, the roads are smooth, and the economy is not at all restricted by Lang Cai.

So in the end, it can only fall on the currency.

And the disappearance of the exchange limit during this time, as well as the current loans, and the possible more loans in the future, are all a bureau of Lang Cai, which not only solves the development funds, but also solves an opponent

The result is self-evident, Lang Cai has the opportunity and all the advantageous conditions, or the orthodoxy of Burmese, he will definitely be the final winner, of course, if there are no accidents. ”

"What accident?" asked Yuan Yicha.

"That's more, now there are still two years before Lang Tsai's time in power, two years later, what the new president's attitude towards the Asian dollar will be, it is not necessarily, the longer the time, the greater the variables, but the Asian dollar will be included in the Burmese dollar system is certain. Liu Jin shook his head and said.

When he said this, a trace of doubt flashed in Liu Jin's eyes, because Ya Yuan didn't look like a master who was sitting still, and Zero was not, but he really couldn't think of any hope that Ya Yuan would win.

Yuan Yi was speechless when he heard this.

Another nonsense.

Today's other topics continue to be discussed.

"Now it can be concluded that the construction and development of Burmese will continue for a long time, and our Huaxia company has won more and more projects.

Due to the restrictions of the Bank of Myanmar, this money cannot be converted into US dollars in large quantities, and if it is converted into RMB, our exchange rate loss will also be large, so the money is currently remaining in the Bank of Myanmar and has not been transferred back to China.

Although they have a lot of US dollars and other foreign currencies, they are not obliged to exchange foreign currencies for our enterprises, so the Bank of Myanmar proposed to our bank last week to open up the free convertibility of Asian dollars and renminbi on a large scale.

In order to solve the problem that the funds earned by this part of our country's enterprises are stranded and unable to return to China. In this way, it is equivalent to that we will officially regard the Asian dollar as a kind of foreign exchange reserves, what are your views and suggestions on this issue? ”