Military council leader Min Aung Hlaing is personally monitoring foreign currency inflows and outflows on a monthly basis while directly handling decisions related to foreign currency expenditures. In 2023, Deputy General Moe Myint Tun, who was appointed by Min Aung Hlaing as chairman of the Foreign Exchange Supervisory Committee, was removed from his position due to misappropriation and corruption. General Mya Tun Oo was subsequently appointed as the new chairman of the committee. Following Moe Myint Tun’s removal, regular monthly reports on foreign currency inflows, expenditures, and outflows in Myanmar must now be submitted directly to Min Aung Hlaing, according to sources.
Previously, Min Aung Hlaing had delegated full authority to former Foreign Exchange Supervisory Committee Chairman Moe Myint Tun, giving him sole decision-making power on matters related to foreign currency expenditures. However, after the emergence of corruption cases involving foreign currency trading under Moe Myint Tun, Min Aung Hlaing issued an order prohibiting any foreign currency expenditure without his approval. Large-scale foreign currency expenditures can no longer be decided by current committee chairman Mya Tun Oo alone and must receive Min Aung Hlaing’s explicit approval and authorization.
Min Aung Hlaing is strictly managing foreign currency to prevent trade deficits and personally makes decisions regarding the purchase of military weapons, helicopters, and aircraft. Unlike former Senior General Than Shwe who delegated foreign currency management to other generals, Min Aung Hlaing not only sets foreign currency policies himself but also intervenes in detailed management of foreign currency matters. At a May 30 discussion in Naypyidaw on
