Corona Pandemic and Bangladesh: Health and Economic Risks and Recommendations

COVID-19 pandemic is a global health and economic emergency that requires effective immediate actions by governments, the private sector and individuals. Given the nature of the virus, it is difficult to predict at this point the full extent of health implications and economic losses originating from COVID 19. The impact will depend on the duration of the disease and the type of remedial measures taken to tackle the disease and protect the economy. This report looks into the impact of COVID-19 on the Bangladesh economy at two levels: from global to national, and at the national level. While looking into the transmission channels of the impact, the study puts spotlight on five sectors which are critically important for the Bangladesh economy. These are: external sector performance; disruption of supply chains in major economic activities; healthcare; public finance; and monetary policy. The research suggests that in view of the emergent and the anticipated near-term scenario, Bangladesh’s policymakers will need to face the health and economic challenges of COVID-19 through appropriate policies, targetted measures and incentives, and if the situation demands, by putting in place a comprehensive stimulus package.