Myanmar’s new military regime is striving to present a business-as-usual approach to the economy in the face of daily street protests, but even a normally pliant private sector is crying foul at some of its initial steps.
A new Central Bank deputy governor has lashed out at protesters and bank staff who have joined the Civil Disobedience Movement and forced private banks to close their branches, and claimed the military regime is “doing its best” and should be given more time.
Economic turmoil and government measures to curb the coronavirus have dealt a cruel blow to workers in the informal sector, where layoffs go unrecorded and people out of work lack access to social security.
Three projects totaling 900 megawatts that were due to go live on April 3 remain weeks, possibly months, away from completion. But thanks to COVID-19 and the apparent absence of a signed contract, the developers may avoid the heavy fines.
The Kayin State Border Guard Force has come under intense pressure from the Tatmadaw over its extensive, controversial business interests and there’s concern the ultimatum could trigger fresh hostilities in one of the country’s most war-torn areas.