Border News Agency
Kyauktaw, October 9
People in areas controlled by the Arakha Army (AA) are facing a shortage of Myanmar kyat banknotes. The shortage is increasingly affecting daily living costs, food purchases, and trade, according to local residents.
Since the Arakha conflict began, banking services have largely stopped operating, and the flow of cash has been restricted. Trade routes have also been blocked, contributing to the shortage of physical cash.
Residents say the shortage has become more severe recently, making life increasingly difficult for people who still depend mainly on Myanmar kyat for their daily transactions.
“It is extremely difficult to withdraw cash. Even if we have money in our bank accounts, we have to pay a percentage fee to get physical cash. As a result, prices are rising even further. If people continue to depend solely on the Myanmar kyat, they will continue to suffer,” a business owner from Kyauktaw Township told Border News Agency.
Residents also said that limited phone and internet services in AA-controlled areas have made online money transfers unreliable. This has created further difficulties in making payments and accessing money.
They believe the region needs a local currency system and better access to online payment services to help address these problems.
“The military junta is economically isolating the people and making them suffer. Every time we face such restrictions and difficulties, we also discover new ways to overcome them. The revolutionary government should turn this crisis into an opportunity by developing an alternative that can reduce dependence on the junta-controlled financial system,” a resident of the Arakha region said.
The cash shortage has contributed to rising local prices and made it harder for people to afford basic necessities. Traders and small business owners are also struggling to keep their businesses running.
“We face difficulties when transferring and withdrawing money. The main problem is the lack of cash. We are now being charged as much as 6,000 kyats for every 100,000 kyats withdrawn. We have to obtain the cash through traders who travel to India,” a woman working in money transfers and cash withdrawals in the Arakha region told Border News Agency.
Residents hope that the Arakha People’s Revolutionary Government will develop alternative financial arrangements and practical solutions to address the shortage, which they attribute in part to restrictions on banking services and the flow of money imposed by Myanmar’s military junta.
