Myanmar

Myanmar is a nation in transition, seeking to break with a past marred by authoritarian rule, economic mismanagement, and multiple conflicts that persist today, driven by social exclusion and predatory natural resource extraction. The country’s opening, in 2011, and the first democratic elections, in 2015, marked critical turning points for Myanmar. Unification of exchange rates, initial liberalisation of product and factor markets, integration into regional markets, and modernisation of economic and financial institutions and systems resulted in rapid economic growth and measurable improvements in social welfare since 2011. Poverty almost halved, falling from 48 percent to 25 percent between 2005 and 2017. As in other countries, exclusion in Myanmar occurs along many lines including gender, ethnicity, and citizenship. Broadly shared economic opportunities are needed to reinforce durable peace, but progress is needed for peace and civil liberties to offer economic opportunities to all and maximize growth and shared prosperity in Myanmar (World Bank, 2020).