Lack of access to formal financial services is one of the foremost reasons why a farmer in Myanmar continues to be in debt for generations. According to various studies conducted by IMF
By virtue of just having a bank account, underprivileged can manage their financial needs better, get direct benefits from the government schemes, invest the savings and enjoy a decent
Experts, who have supported the IMF's projection of Myanmar as the fastest growing economy in the World, give credit to change of government and some recent economic reforms for this positive [...]
One can imagine the pitiable condition of the farmers from the fact that according to United States Agency for International Development (USAID), 30% to 50% of the total rural population is landless.