Myanmar is discussing with burgeoning ally Russia the use of its Mir bank card for payments, the junta spokesperson said on Tuesday, as the military-ruled country reels from a currency crisis and the impact of Western sanctions.
Myanmar has faced social and economic collapse since a military coup early last year, and the move to adopt the Russian payment system comes as the increasingly isolated junta struggles to maintain foreign exchange reserves and stabilise its currency and inflation rate.
Using Russia's Mir payments system and cards will allow direct exchange between the rouble and kyat currencies, junta spokesperson Zaw Min Tun told a news conference.
