New era in Burma?

[Deleted]

It seems appropriate to write Burma rather than Myanmar today, since the political party of Aung San Suu Kyi, the NLD, won 40 of the 45 legislative seats up for election.

Unfortunately, there are 664 seats in the Burmese parliament, so it will take some time for power to begin shifting. 25% of the seats in parliament are reserved for the military in any case.

Naturally, nobody is duped that this was done out of the goodness of the heart of the leaders of Myanmar -- the sudden shift was almost certainly just to ward off economic sanctions from a lot of the rest of the world. Nevertheless, that is pretty much how things started in the USSR, and it did not take long for popular pressure to sweep away the people in charge.

We must also not forget that Mrs. Suu won the elections in 1990, and terrible things happened after that election, which was never validated.

[Deleted]

In one of the biggest economic reforms that Burma has seen, the central bank has set the reference exchange rate for its currency.

It set a rate of 818 kyat against the US dollar on Monday, the first business day since moving to a managed float.

The previous official exchange rate was 6.4 kyat.

It's about time! When I had to change currency on the black market, I was afraid that the police were going to pounce on me at any moment.

[tod2]

I can picture you now. Sunglasses, dark alley, a hole in a wall with just a small curtain drawn across. You speak in a hushed tone to the curtain. The curtain answers back and a hand comes out.....just up to the wrist.
You place your moola in the open palm which then shoots back behind the curtain at lightning speed.
You wait.....and wait....all the time furtively glancing up and down the alley and freeze everytime a figure makes it's way in your direction .
Thankfully just as you are about to ask the curtain "What up doc?" the hand shoots out and you grab your cash and try and count it as you move rapidly back to the main street. ;D

[hwinpp]

I don't think I ever exchanged more that the official 200USD.

I also exchanged the box of State Express 555 and the bottle of Black Label in the rickety lift of the Strand ;D

[bixaorellana]

Almost four years after the OP in this thread ~

Friday 13 November 2015 12.24 GMT
Aung San Suu Kyi has won Myanmar’s landmark election and claimed a staggering majority in parliament, ending half a century of dominance by the military and providing the symbol of a decades-old democracy movement with a mandate to rule.The government’s election commission in the capital of Naypyidaw said the National League for Democracy (NLD) party had won 348 seats across the lower and upper house of parliament, 19 more than the 329 needed for an absolute majority.     <-- click text for full story

Also from the quoted article, in another echo of the OP:
Aung San Suu Kyi does not have complete power and the army generals, who have amassed billions of dollars in wealth, will still control the most powerful ministerial portfolios – interior, defence and border affairs.
The Myanmar armed forces, or Tatmadaw, also has an automatic hold of a quarter of seats in parliament, meaning the opposition needed to win at least 329 seats to make up a majority (67%) of both houses.

[mossie]

I note that the military say they are going to let the winners govern. Let us hope they keep their word