Japan writes off Burmese debt

by admin
May 25, 2013
Japan has announced a fresh wave of loans for Burma amounting to $500m and cancelled $1.74 bn worth of debt with the country, as they seek to expand economic ties.

The announcement was made as Japan's Prime Minister Shinzo Abe visited Burma and met with President Thein Sein, the first visit by a Japanese Prime Minister to the country since 1977.

He also had talks with opposition leader Aung San Suu Kyi.

Last year Japan announced the cancellation of $3.4bn debt from Burma, and the latest move will see that all outstanding debt are also erased.

See the full report from the BBC here.

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