Rather than arresting money exchangers and other businessmen, junta leader Min Aung Hlaing and the management of the junta-controlled Central Bank of Myanmar (CBM) should be imprisoned, according to the shadow National Unity Government (NUG).

Tin Tun Naing, the NUG Planning, Finance and Investment Minister, said: “In order to reduce inflation, and the price of dollars, gold and property they [the junta] shouldn’t be focusing on arresting gold sellers, dollar dealers, car dealers, or real estate agents. If they genuinely aim to solve these issues, we should not detain them. Instead, we should arrest Min Aung Hlaing and his associates as well as the executives of the Central Bank of Myanmar, who are responsible for this biased monetary policy.”

The comment was made during a conversation with the activist Min Ko Naing. “All these problems would be resolved once they [junta chief and CBM executives] are arrested and detained”, added Tin Tun Naing.

He alleged that Min Aung Hlaing is following a pattern of arresting businessmen when prices rise, in the same way as the Myanmar dictator Ne Win had in the past. Both dictators wrongly blamed greedy businessmen and traders for the failure of their disastrous economic policies.

“During dictatorships, regardless of the dictator’s era, they all behave in the same manner”, said Tin Tun Naing.

He also revealed that in the last two years the junta has minted an extra 20 billion kyats which “highlights the huge influx of money into the nation’s economy.”

On 19 August the CBM convened a meeting with businessmen in Nay Pyi Taw where it said that it would take action against USD dollar speculators and those who spread rumours about the USD dollar.

The current governor of the CBM is junta-appointed Than Than Swe, who has survived an assasination attempt.

On 31 August the USD dollar was worth 3,500 kyats on the black market. It has dropped by more than 300 per cent since before the coup when one USD dollar was worth about 1,300 kyats.