Myanmar’s junta has approached foreign banknote companies to help it print more money as it faces a shortfall in tax and export revenues, according to the shadow government formed by supporters of ousted leader Aung San Suu Kyi. 

The approach, which was confirmed by a second person with knowledge of the situation, comes amid a sharp economic contraction in the country, a boycott on doing business with the junta by the anti-coup camp and a severe wave of Covid-19 infections. 

Tin Tun Naing, the finance minister in the parallel National Unity Government, whose members are in exile or hiding, said that the military-controlled ministry of planning, finance and investment had approached foreign banknote and security printing companies, including Chinese firms, but had been rebuffed.