Burma - Cyclone Nargis: Over $1.5 millio in aid lost in Burma

The United Nations has acknowledged that over the past three months some 1.56 million dollars in aid for the victims of Cyclone Nargis has been lost because of Myanmar's foreign exchange regulations.

"The loss in value due to foreign exchange for the Cyclone Nargis international humanitarian aid during the last three months has been about 1.56 million dollars," said Daniel Baker, UN Humanitarian Coordinator in Myanmar.

"We are not getting the full value of dollars donated for emergency relief, and donors are extremely worried and keen to see that this issue is resolved," said Baker, in the latest UN update on relief efforts for Cyclone Nargis.

Under Myanmar's foreign exchange controls, all foreign agencies must convert their dollars in to Foreign Exchange Certificates (FECs) at government banks before making local purchases.

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Published by Mike Hitchen, Mike Hitchen Consulting