Myanmar’s coup takes a rising economic toll

Sub-title: 

Many businesses are struggling as protests, civil disobedience campaigns and cuts to the internet hit trade

Description: 

"Business operations are yet to fully resume following a coup d’etat launched by Myanmar’s powerful military three weeks ago, raising fresh concerns about an economic collapse. Many businesses are now dealing with low sales, finding it difficult to operate and face an uncertain future as the coup staged by Myanmar’s military approached its third week. The military regime, however, has been adamant that under its administration it will be business as usual, with Commander-in-Chief Min Aung Hlaing stating in his first televised speech on February 8 that agreements made under the previous government will be followed and adding that approaches were being made to the international community to come and invest in Myanmar. “There will be no change in the foreign policy, government policy and economic policy of the country during the period [where] we are temporarily taking responsibility for the state. We shall continue on the same path as before,” Min Aung Hlaing said on the military-owned Myawady TV channel. A forecast of Myanmar’s GDP growth has been lowered to 2% from 5% for the 2020/21 financial year by New York-based research group Fitch Solutions due to the coup..."

Creator/author: 

Dominic oo

Source/publisher: 

"Asia Times" (Hong Kong)

Date of Publication: 

2021-02-26

Date of entry: 

2021-02-28

Grouping: 

  • Individual Documents

Category: 

Countries: 

Myanmar

Language: 

English

Resource Type: 

text

Text quality: 

    • Good