Mizzima News

June 14, 2003:: The U.S. decision to impose economic sanctions on
Burma is likely to create a serious impact. Burma faced a severe financial
crisis when most countries stopped investment in the country in view of
prevailing political instability. However, India appears to be
exceptional in this regard, taking a soft stand towards the Burmese junta
because of the growing militancy problem. But now India has to think twice
before granting future financial assistance to Burma.

The prevailing unrest and the bank crisis have greatly affected the
Burmese. Many people living in remote areas are facing starvation in view
of the growing economic crisis, as they are not in a position to
provide for their daily needs. If investment into Burma diminishes these
people will face a seriously problematic situation.

The Asian Development Bank and the World Bank have already stopped
providing loans to the Burma owing to political unrest. Although the
situation in Burma is deteriorating by the day, the junta's officials seem to
be aloof, neither willing to initiate talks with Aung San Suu Kyi nor
interested in the country's good. This makes the common people the
victims.

Several developed and the developing countries have raised a vociferous
protest against the junta's conduct towards Aung San Suu Kyi. Many have
threatened to take harsh action. But despite these strong protests, the
junta has turned a deaf ear and continues labeling false allegations
against Suu Kyi. Since 1988, all developmental activities have come to a
grinding halt. The literacy rate has dropped greatly. Hundreds of
youths are yet to be enrolled in school.

Despite its vast natural resources, Burma is said to be one of the most
underdeveloped countries in Asia. Rampant corruption and the misuse of
public funds have crippled the economy. Many junta officials reportedly
fuel corruption. Senior junta officials have siphoned off vast amounts
of funds meant for the development of the country. But the common
people cannot raise their voice against the junta's abuse of power for fear
of severe punishment.

During the past several years hundreds of people have lost their lives,
and many political leaders are still in prison for registering protest
against junta. Now the question is why the junta is unleashing a reign
of terror on the common people? Will they start a peace process
considering the gravity of the situation?