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Capital Markets

Myanmar: Back to the future for the military junta

What does the political turmoil in Myanmar mean for the country’s banks?

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Aung San Suu Kyi supporters hold aloft her image alongside the crossed-out face of successor general Min Aung Hlaing
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A Yangon financier, unburdened by political persuasion, sums up Myanmar’s February military coup.

“It’s a circular firing squad,” he says. “These are incredibly stupid steps. These guys have been watching too much Fox TV.”

The Fox TV jibe riffs at the reason why Myanmar’s military said it cancelled Aung San Suu Kyi’s five-year-old quasi-democracy.

Perhaps inspired by Donald Trump, the generals claimed that a November election, won in a landslide by Suu Kyi’s National League for Democracy (NLD), was fraudulent.

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