Myanmar Recovery Dented by Devastating Quake, World Bank Says

Myanmar’s economy is headed for its worst performance since the pandemic as the strife-torn country reels from the impact of a devastating earthquake in March that’s estimated to have caused $11 billion in damage, according to the World Bank.

The 7.7 magnitude earthquake on March 28 affected more than 17 million people and wrecked widespread damages to residential buildings, public infrastructure and heritage sites in areas accounting for about one-third of Myanmar’s gross domestic product. The impact of the quake still continues to disrupt lives and livelihood, “exacerbating the already very difficult conditions in the affected areas,” the bank said in a report Thursday.