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More than 83 per cent of households in Myanmar reported a drop in income since the start of 2020. AFP
Myanmar lurching towards state collapse, analysts say
Thu, 13 May 2021
In a worrying worrying sign of deepening economic collapse, military-ruled Myanmar’s agricultural sector is sinking fast as cash runs short and access to mobile-based financial services that were a lifeline is cut off.
After the February 1 coup d’etat, Myanmar reverted in large part to a cash-based economy – but cash itself is short.
The UN Development Programme (UNDP) warned recently that more than 83 per cent of households reported a drop in income since the start of 2020. In a worst-case scenario, about 26 million additional people next year, compared with 2017, could be living in poverty, defined as $1 a day.