Myanmar’s Crisis Will ‘Permanently’ Scar Economy, World Bank Warns

(Nikkei Asia) — Myanmar’s economy faces “permanent” damage from distorted policies and the intensifying crisis since the military takeover on Feb. 1, 2021, the World Bank warns in a new report.

“In the medium-term, the deep contraction in 2021, the ensuing weak and uneven recovery, and increasing policy distortions will leave the economy permanently scarred,” the global lender said in the report, released on Tuesday.