Myanmar

The abrupt departure of the US NGO fund from military-run Myanmar leaves a vacuum for microfinanciers.

Running a bank during the Covid-19 crisis in Myanmar is hard enough. Throw in a military coup and the situation becomes far worse.

Running a bank during the Covid-19 crisis in Myanmar is hard enough. Throw in a military coup and the situation becomes far worse.

Running a bank during the Covid-19 crisis in Myanmar is hard enough. Throw in a military coup and the situation becomes far worse.

Cash-starved small businesses and microfinance institutions in Myanmar are increasingly relying on a United Nations initiative to make ends meet. But results are mixed, showing there is still a long way to go to revive the industry.

The country’s lost decade appears to be assured: the military coup hit the financial system and the economy – and it is scaring away many investors.

Myanmar’s banking system has been on life support since the coup on February 1, with normal business grinding to a halt. But what’s replaced it feels like a slow-motion bank run that’s chaotic and corrupt.

Myanmar is once again an investment pariah as the country’s businesses and financial sector reel from the impact of the coup.