Economic and financial impact of the COVID-19 pandemic in South Asia

Abstract

The world is facing a COVID-19 pandemic outbreak with an unprecedented and enormous impact on the lives of humankind. The economic engine has suffered a big blow in economic and financial performance in all the regions. South Asian countries are also trying to cope with the challenges posed by the pandemic. This paper attempts to understand the severity of the pandemic, the responses by the governments of the region, and the way forward. The pandemic affected the services, manufacturing, trade, supply chain, and particularly the small businesses, which disrupted all the economic indicators, forecasts, and growth patterns. The paper also discusses the strategies devised by the countries to counter the shocks of pandemics and what new opportunities are identified under the circumstances.