SINGAPORE—Bank branches in Myanmar are closed and government employees are boycotting work. 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. […] There is a reason for this: For half a century, Myanmar was ruled by military generals who enacted disastrous policies. The picture began to steadily change over the last decade as a democratic opening brought a partially civilian government to power and more international investment flowed in. By one measure, poverty declined to 24.8% in 2017 from 42.2% in 2010, according to World Bank data. […] After the coup, which toppled an elected government, the World Bank says the number of people living on less than $3.20 is expected to rise by 30% in 2021.
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