Chapter 759 Central Bank Meeting (Subscribe!)

Just when the loan of more than 2 trillion kyats landed.

The news was sent back to the country immediately.

early in the morning,

Beijing.

central bank.

International Division.

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

The main members of the department and some experts in economics and currency from the research institute were invited.

He gave Myanmar such a large loan.

Post-loan risk control is a must.

It's just that the situation here is a bit complicated. At present, there is no problem with Myanmar's economic development, but the currency problem has suddenly become prominent, which makes the leaders of a central bank nod.

one country.

The situation of the two currencies is not uncommon in China.

But like Myanmar is now.

Among them, the Asian dollar, which is a niche currency, plays an increasingly important role in the main currency circulation area, and even directly participates in economic activities, which makes them a little confused.

Just like the day when the Hong Kong dollar suddenly circulated and settled in the country, it was so incredible.

This has never been the case.

Completely without precedent.

"At the end of last year, we gave Myanmar 160 billion yuan in loans to help it develop its economy, improve people's livelihood, and carry out large-scale infrastructure construction. These funds were successively created by the Central Bank of Myanmar at the international exchange rate.

Due to the huge inflow of kyat into the market and the over-issuance of the Myanmar government, the domestic currency devaluation of the kyat began, which is within our expectations, and the value of the Asian dollar has remained stable, which is also in our as expected.

However, what we did not expect is that in the process of the Myanmar Kyat, Yayuan has become a capital hedging pool in Myanmar, because there is no way for Myanmar domestic and overseas to build the idea of ​​​​Myanmar dollar reserves. .

Later, they found that the Asian dollar could be freely exchanged, so they regarded the Asian dollar as a value-preserving currency similar to the U.S. dollar, and carried out a large number of exchanges, which made the kyat participate in the domestic economy and savings activities in Myanmar.

This is not the most important thing. Generally, commercial bank loans have deposit reserves, and part of them must be handed over to the central bank to ensure ordinary people's deposits and withdrawals, as well as to ensure the safety of residents' and corporate deposits, and to control the total amount of domestic currency flows.

However, the Bank of Myanmar does not have this restriction. They can lend out all the kyat income, which has led to the market circulation of the kyat completely exceeding the original expectation, and the expectation of the devaluation of the kyat will be prolonged and deepened.

This is not only a domestic matter in Myanmar, it has even affected our trade import and export with China, and many domestic enterprises have also joined this behavior to ensure their own financial security.

The purpose of this meeting is to brainstorm and discuss the impact on the economic and trade relations between my country and Myanmar, and even the future economic development of Myanmar and Myanmar. This matter is highly valued. "

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

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

I feel like I'm going crazy.

How can such a thing be allowed.

"Isn't there a limit on the exchange of kyat and Asian dollar before? When was this released?" An expert who has participated in loans to Myanmar scoured the documents in his hand, but could not find an answer to this question.

"At this time, it is uncertain, the Central Bank of Myanmar has not released relevant information, and we do not have Myanmar's government work report. 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 Myanmar have worked together to lift this limit to facilitate their asset preservation. You must know that the amount of kyat in their hands is huge, and the banks that deposit the kyat will suffer serious losses.

The reasons are also easy to find. First, the Myanmar-Asia Bank holds half of the right to allocate RMB, and the economic activities in the Myanmar-Asia Special Economic Zone and other places in Myanmar are increasing, and there are many possibilities. "

Yuan Yi's answer.

Same as not saying.

The experts all stared at him silently.

Yuan Yi is still drinking tea calmly and rolling his eyes. What do you ask me to do if I don't know?

The expert thought for a while and then asked: "The problem now is that, without the restriction of deposit reserves, there is a strong demand for value preservation from all walks of life in Myanmar, resulting in Bank of Myanmar owning a huge amount of kyat, and Bank of Myanmar is unwilling to do so. Suffering from the loss of devaluation and investing aggressively, the domestic liquidity of the kyat has been completely out of control?”

"Yes." Yuan Yi nodded.

"If this continues, the inflation rate in Myanmar will be terrifyingly high. Lang Cai and the others 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. Now we only give so much money, and it will be gone when we use it.

Lang Cai may be trying to work hard again and use external forces to complete the construction of Myanmar at one time, but this is all speculation. "

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

"I also agree with this point of view. It is very likely that Lang Cai didn't want to print money and finally compromised. He was afraid that the wind would not stop. After all, the power of interest groups is too powerful." Another person said.

"I don't agree with Lang Cai's prestige in Myanmar. I don't want to go into details. Even if he compromises, he will not completely compromise like this. Have you noticed that the loan amount this time is larger than the overrun budget amount. , is this a decision made by a compromised Lang Cai?" Liu Jin, who has been silent all the time, said.

Everyone heard it too.

Compromise is possible.

However, Lang Cai's prestige was not low enough to require a complete and unconditional compromise, and it also contributed to the flames.

If not compromise.

Then if it is not the initiative mentioned before, it has other purposes.

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

Liu Jin thought for a while and said, "I also don't agree with Lang Cai's statement that he wants to build in place at one time. Lang Cai is not that kind of person. This is determined by his personality. I think he has other purposes."

"What purpose?" Yuan Yi asked curiously.

"Abolish Ya Yuan." Liu Jin said lightly.

As soon as these words came out, the conference room fell into silence, abolishing Yayuan, logically. . It seems to make sense.

Liu Jin continued to explain: "Now it is basically impossible for Lang Cai to abolish the Asian dollar through an executive order. Zero will not agree, and the Myanmar-Asia Special Economic Zone will not agree, and they have an important strategic position and are not weak. Cai was unable to resolve Ya Yuan militarily.

Then he can only use the form of economy and currency. Economically, the Myanmar-Asia Special Economic Zone has completed the initial industrialization, bordering the three countries, the roads are smooth, and the economy is not restricted by Langcai at all.

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

The disappearance of the exchange limit during this period, as well as the current loan, and the possibility of more loans in the future, are all part of Langcai’s game, which not only solves the development fund, but also solves an opponent.

The result is self-evident, Lang Cai has the first opportunity and all the advantages, and is still the orthodox of Burma, he will definitely be the final winner, of course, if there are no accidents. "

"What accident?" Yuan Yi asked.

"This is a lot more. There are still two years before Lang Cai will take office. After two years, it will be uncertain how the new president will treat Yayuan. Inclusion into the Kyat system is certain." Liu Jin shook his head.

When he said this, a trace of doubt flashed in Liu Jin's eyes, because Ya Yuan didn't seem like a master who was sitting still, neither did Zero, but he really couldn't think of any hope of winning for Ya Yuan.

Yuan Yi was speechless.

Another nonsense.

Continue with other topics for today.

"It can now be concluded that the construction and development of Myanmar will continue for a long period of time, and our Huaxia company has won more and more projects. Except for RMB appropriation projects, among other additional projects, all parties are now getting kyat. Convert to Asian Dollars immediately.

Due to the restrictions of the Central 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 very large. Therefore, the money is still in the Bank of Myanmar and has not been transferred back to China.

The Bank of Myanmar is not the Central Bank of Myanmar. Although they have a lot of US dollars and other foreign currencies, they are not obliged to exchange foreign currencies for our enterprises. Therefore, the Bank of Myanmar proposed to our bank last week to open up the free exchange of Asian dollars and RMB on a large scale. 's proposal.

In order to solve the problem that the funds earned by some Chinese enterprises are stranded and cannot be returned to China. In this way, it means that we will officially treat the Asian dollar as a kind of foreign exchange reserve. What are your views and suggestions on this issue? "