Irrawaddy-Feb 2

The World Bank says Myanmar’s military coup threatens Myanmar’s development as businesses fear for reforms made under the civilian government and foreign direct investment in the country. On Tuesday, some foreign firms, including the Suzuki Motor Corporation, ceased operations to ensure the safety of employees after the coup. The World Bank said it is “gravely concerned” about the situation and the wellbeing of citizens. The bank said it is firmly committed to Myanmar’s transition to democracy and its efforts to achieve sustainable growth and social inclusion. Businesses are now saying any recovery is in jeopardy with further investment unlikely and major firms planning to cease operations due to political instability.

Read more at: https://www.irrawaddy.com/news/burma/world-bank-coup-threatens-myanmars-development-prospects.html