- by
- 05 23, 2024
Loading
IN THE DECADE when its generals allowed it some semblance of democracy, flourished. The government brokered a landmark ceasefire agreement with half of the country’s many rebel groups. Poverty rates plummeted and foreign investment surged. The economy grew annually by an average of 6.6%. A middle class emerged.In just one short year, the generals have undone the gains of the past decade. Employment has fallen. Dollar-a-day poverty has more than doubled, engulfing nearly half the population. In cities it has tripled. The currency has plunged by 60% in the past five months. The economy is 30% smaller than was forecast before the coup and the pandemic. Electricity blackouts are widespread. Schools are, in effect, shut.