Group urges foreign officials to locate, freeze Myanmar assets

Activist group says Myanmar military controls $5.7bn in foreign currency reserves, facilitating ‘brutal’ repression.

Myanmar’s military may have access to more than $5bn in foreign exchange reserves that it could use to further strengthen its hold following a coup on February 1, according to an activist group. Justice for Myanmar – self-described as a group of covert activists campaigning for justice and accountability for the people of Myanmar – released a statement on Monday asking the global community to locate and freeze these funds, about $5.7bn of the country’s foreign currency reserves. “The brutal and corrupt Myanmar military generals are relying on access to our foreign reserves and the global financial system to fuel their repression of the people and cement their illegitimate military junta,” the group said in a statement, asking the international community and the banking industry take “immediate action” to prevent the army from using the funds.