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 by AFP Staff Writers Yangon (AFP) July 9, 2021
A state-backed Myanmar power company warned its customers Friday their electricity supplies could be disrupted if they continue refusing to pay their bills as part of a boycott that has hit the junta in the coffers. Myanmar has been in turmoil since a February coup that ousted civilian leader Aung San Suu Kyi and her government, with hundreds dead in a brutal crackdown and a mass anti-junta strike crippling the economy. Thousands of civil servants have walked out in protest, leaving schools, universities and hospitals empty and the State Administration Council -- as the junta calls itself -- struggling to issue bills or collect taxes. The Yangon Electricity Supply Corporation noted the boycott on its Facebook page Friday. "For the benefits of the people, you are requested to cooperate and help to regularly pay monthly fees," it said. It added that, without money from its customers, production and supply of electricity would be affected. Not everyone took the warning seriously. "Don't care whether you cut off the power or not... because I've bought enough candles," one Facebook user commented below the statement. "Return the power to the elected government and it will get back to normal," wrote another. Since the coup Myanmar's economy has been in freefall and is expected to contract by 10 percent in 2021, according to the World Bank. The junta has justified its power grab as a means to protect democracy, alleging electoral fraud in November's election, won Suu Kyi's National League for Democracy. bur-rma/leg
G20 handed roadmap for tackling climate-linked financial risks Zurich (AFP) July 7, 2021 A leading international finance body on Wednesday urged G20 finance ministers and central bank chiefs to better respond to growing climate-related financial risks, warning of their "far-reaching" impacts. The Switzerland-based Financial Stability Board submitted a roadmap ahead of a G20 meeting in Venice later this week. The FSB, created in the wake of the 2008 financial crisis, said global climate-related risks are "far-reaching" and require a coordinated response. "They are global in n ... read more
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