SINGAPOREBank branches in Myanmar are closed and government employees are boycotting work. Factory workers have fled to their rural homes and foreign companies have flown their overseas employees out. The internet is largely cut off.
More than two months since the military seized power in a coup and unleashed a deadly campaign to suppress protests, the economy is collapsing,with the World Bank and othersexpecting a double-digit contraction over the course of this year. The upheaval is erasing the large gains that the country had made in reducing poverty and is frightening away foreign businesses and tourists that had done much to lift Myanmar over the last decade.