The military council, which says that the country's economy is booming, has issued twenty-thousand-kyat banknotes again.
The Central Bank of the Military Council announced today, July 23, that twenty-thousand-kyat banknotes will be issued domestically starting on July 31.
It is said that this 20,000-kyat banknotes were issued to commemorate the completion of the construction of the Marawijaya statue erected by the military council and to mark the one-year anniversary of the birth of Ratha Nanda, the white elephant designated by the military council as a white elephant.
In the issue of twenty thousand kyat a limited number will be issued to replace the old banknotes, and the currently used banknotes will continue to be legal tender.
At a time when the international community pointed out that the country's economy was in crisis after the military coup, and domestically, the price of goods rose exponentially during the coup.
There are also criticisms that the issuance of new banknotes could cause the kyat to fall in value and increase inflation.