Myanmar Economy Stymied by Forex, Import Curbs, World Bank Says

Myanmar’s economic recovery is being hampered by a shortage of foreign exchange, import restrictions and power outages, according to the World Bank.

The business environment remains challenging and many firms are finding it difficult to access foreign exchange, obtain trade licenses, import raw materials, and adapt to logistics constraints, the World Bank said in its country report released on Tuesday.

The assessment serves as a warning against complacency to an economy, which the development lender said showed tentative signs of stabilization in the first half of 2023. Among the positives for Myanmar it listed were a broadly stable ...