<span style="color: #222222;">The political turmoil in Myanmar combined with the impact of the COVID 19 pandemic could result in almost half of the nearly 50 million population in the country living into poverty by early next year. According to a report of the UN Development Programme (UNDP), the ongoing political crisis will compound the socioeconomic impact of the COVID 19 pandemic. Consequently close to 48.2 percent of the Myanmar population will live in poverty by 2022 compared to 24.8 percent in 2017.<br />''<br />''Noting the significant improvement over 12 years between 2005-17, the report mentions that Myanmar was able to nearly halve the number of people living in poverty during this period. However, the challenges of the last 12 months have put all these gains at risk. The report said that in the absence of functioning democratic institutions, Myanmar faces a tragic and avoidable backslide towards levels of poverty not seen in a generation.<br />''<br />''The urban poverty is also expected to triple as the worsening security situation continues to affect supply chains and hinder movement of people, services and commodities.<br />''<br />''According to the study, women and children are the biggest sufferers. Almost half of Myanmar's children are projected to be living in poverty within a year.<br />''<br />''The World Bank has projected a 10 percent contraction in the Myanmar economy in 2021 due to a combination of several factors like insufficient stimulus and investment, government relief not matching earning losses among others. The banking operations are in a standstill situation in the country. Almost 80 percent of Myanmar's international trade is seaborne. UNDP estimates that the trade volume in ports has dropped by between 55 and 64 percent in the two months since military take over on Feb 1. All these factors point out to the possibility of Myanmar approaching the point of economic collapse, says the UNDP report. </span>