Reports of counterfeit banknotes circulating in Myanmar have skyrocketed in recent weeks amid the junta’s mismanagement of the economy, but experts s
AFP
Violent political conflict since the February military coup and a deadly third wave of the COVID-19 pandemic have pummeled Myanmar’s economy, with the World Bank predicting a double-digit contraction of GDP this year and many urban residents struggling with shrinking incomes and rising food prices.
The military ouster of the country’s elected civilian-led government nearly six months ago came after a year of business and travel lockdowns to prevent the spread of the pandemic had hobbled the country’s $75 billion economy.
The Feb. 1 coup d’état brought widespread anti-military protests and walkouts by civil servants and white-collar workers that were met with military violence, killing more than 900 civilians.