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.
Labour unions want garment factories to suspend operations this month to help prevent the spread of coronavirus at workplaces, but most employers are resisting the idea because of uncertainty over how long the shutdown might last.
The business community has welcomed interest rate cuts and other stimulus measures aimed at cushioning the impact of the coronavirus, but there’s consensus that more needs to be done to avert business closures and massive job losses.
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.