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US Treasury eases limits on remittances to Myanmar
12 May 2008 16:29:09 GMT
Source: Reuters
WASHINGTON, May 12 (Reuters) - The U.S. Treasury Department said on Monday that it was easing restrictions on amounts that U.S. individuals are allowed to send to crisis-stricken Myanmar.

The Treasury said that, after consulting the State Department, its Office of Foreign Assets Control was issuing a license permitting U.S. financial institutions to process unlimited amounts of funds in the form of personal remittances to Myanmar.

Previously, personal remittances to Myanmar could not exceed $300 per Burmese household in any three-month period.

Myanmar's military government is accepting aid from the outside world for an estimated 1.5 million people facing hunger and disease in its cyclone-ravaged Irrawaddy delta.

The Treasury said the new license it was issuing would not permit money transfers to or through people who are blocked under a sanctions program that the United States maintains against Myanmar.

(Reporting by Glenn Somerville, Editing by Sandra Maler)


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Last updated:Mon May 12 16:26:04 2008