Since the military seized power in a coup six months ago, Myanmar has been crippled by a cash shortage. To help prevent a run on the banks, randomly selected A.T.M.s are stocked with cash daily, and withdrawals are capped at the equivalent of $120. With cash in short supply, depositors can’t withdraw their savings, customers can’t pay businesses and businesses can’t pay their workers or creditors. Fewer than 100 A.T.M.s now have cash each day across the Southeast Asian nation. Currency hoarding has become widespread and many businesses will accept only cash, not digital bank transfers.

Source: New York Times August 07, 2021 09:00 UTC