Financial Times FT.com

Burma gas sales surge but little cash leaks out

By Amy Kazmin in Rangoon

Published: May 11 2009 03:00 | Last updated: May 11 2009 03:00

Strong exports of natural gas have swollen Burma's foreign exchange reserves to a record high but have not been used by the military regime to boost health or education spending for the impoverished population, the International Monetary Fund says in a report.

In its annual evaluation of Burma's economy, the IMF says the global economic slowdown and the devastating May 2008 cyclone, which killed 140,000 people, have taken their toll. Gross domestic product growth slowed to about 4.5 per cent last year, from 5.5 per cent a year earlier.

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