Myanmar Kyat or US Dollar for Power Purchase Agreements: Will the Government Insist on Myanmar Kyat Tariffs?


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One of the many challenges facing private investors in public infrastructure in Myanmar is, increasingly, the currency issue. The Myanmar Kyat (MMK) has been in a slow but steady decline against the US$ since 2014.


  • More pressure to accept MMK tariffs
  • Tariff entirely in MMK
  • Tariff in US$ but payable in MMK
  • Tariff in US$, payable in MMK with fixed conversion rates
  • Some of the tariff is paid in MMK
  • Tariff in US$, only payable in US$
  • A complex structure
  • Where is this going?
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