Myanmar aiming for 5.8 pc growth rate

YANGON, Apr 3 : Myanmar is aiming for a growth rate of 5.8 per cent in the coming year, the state-run Working Peoples Daily reported Thursday. The targets for the next fiscal year, which includes a gross domestic product of 58 billion kyat (9.6 billion dollar) at the official exchange rate, were based on “objectives achieved and exceeded" last year, dubbed "economic year," the paper said. Myanmar new fiscal year began on April 1. reports AFP.

Japan's current account surplus up

TOKYO, Apr 3: Japan's surplus in its current account. a broad measure of international trade (lows, i posted a mild eight per cent increase in February from a year earlier after surging 83 per cent in January, the Finance 1 Ministry reported Fridtn The ministry said the sur plus had grown sharply in previous months because of the yens rapid appreciation. The rising yen caused exports to grow In dollar terms out of proportion to their aclual volume in-

[ crease, it said, reports AP.

Russia's $lb grain debt restructured

WASHINGTON. Apr 3 : Russia will be able to reschedule one billion dollar of its debt for grain and other US farm goods, but It is too early to tell If that will allow it to resume purchases under a US government programme that guarantees bank loans, US agriculture officials said Friday. The department announced the agreement reached Friday in Paris with creditor nations but further details were unavailable. A department official, who insisted on anonymity, said it was I too early to tell whether the | rescheduling would make Russia eligible again to buy farm goods, mostly grain, under an export credit pro- ' gramme, reports AP.

US releases $ 50m aid to Nicaragua

WASHINGTON, Apr 3 : I Citing progress on human rights and other issues, the Stale Department released 50 million dollar Friday in economic assistance to Nicaragua that had been . suspended for almost a year. । In a reciprocal gesture, Nicaragua assured the administration that Humberto ! Ortega, the Sandinista commander of the Nicaraguan armed forces, will step down in 1995, low years ahead of schedule, officials said. Other sources said, . however, that no final decisions had been made on I Ortega's status, reports AP.

Danish fishermen to continue strike

COPENHAGEN. Apr 3: | Fishermen rejected gov-| ernment requests to slop threatening ferries and ■ blockading foreign boats ' Thursday on the fourth day I of their strike for more stale aid. Well continue our actions." said Carsten Poulsen, one of the fishermen who claim their blockades have kept all fish out of Denmark during four days of negotiations for higher quotas, cheaper stale loans and better subsidies, reports AP.

US jobless rate remains unchanged

WASHINGTON, Apr 3: The US jobless rale remained unchanged al 7.0 per cent in March when 22,000 Jobs were lost, the Labour Department reported Friday. Economists had predicted another 100,000 to 150,000 Jobs would be added to the payroll from February, when the number of new Jobs Jumped by 367,000, reports AFP.

Japan to support US phone project

• TOKYO, Apr 3: Almost 20 Japanese companies will participate in an ambitious' plan by Motorola Inc. to develop a worldwide cellular phone network based on satellites, Japanese media reported. The group will set up an investment company later this month to participate in the 3.4 billion dollar iridium Project, Kyodo News Service reported late Friday, says Al’.