Analysis: Myanmar’s Coup Will Be ‘Painful’ for Already Struggling Economy, Analysts Warn
Myanmar’s economy could take a significant hit following this week’s military coup, analysts say, as the U.S. mulls fresh sanctions and foreign investors appear rattled — potentially putting billions of dollars’ worth of business investments at risk for the Southeast Asian country.
Citing “fraud” in the November general elections, Myanmar’s military, known as the Tatmadaw, took control of the government on Monday — the same day the newly elected parliament was set to convene. Leaders of the National League for Democracy ruling party were detained, including State Counsellor and Nobel Peace laureate Aung San Suu Kyi, who has since been charged with illegally importing walkie-talkies. The military also announced blocks on Facebook, Instagram and Twitter.
The fate of the economy, which is already suffering because of COVID-19, will depend on what the military does moving forward, says Aye Min Thant, a journalist based in Yangon.
Photo courtesy of Julie Ricard.
Source: NPR (link opens in a new window)