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.
The Ministry of Electricity and Energy has issued a tender for 1,060 megawatts of on-grid solar power but given investors just a month to prepare bids at a time when they are unable to enter or travel around the country.
Myanmar’s five million microfinance borrowers will resume repayments on May 15, but many are now jobless or on reduced incomes because of COVID-19 and the health of the US$1.3 billion sector is unclear.
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.