ranjan

The impact of COVID-19 and the oil price plunge in the Middle East and Central Asia has been substantial and could intensify. With three quarters of the countries reporting at least one confirmed case of Covid-19 and some facing a major outbreak, the Coronavirus pandemic has been the largest near term challenge to the region. Like much of the rest of the world, people in these countries were taken by surprise with this development, and I would like to express my solidarity with them as they cope with this unprecedented health crisis. The outbreak could be compounded by reduced imports due to disruption in Global trade, giving rise to shortage of medical supplies and other goods resulting in substantial inflation. Uncertainty about the duration and nature of  shocks has complicated the Policy Response. Beyond the devastating toll on Human Health, this Pandemic is causing significant drop in Domestic and External demand, Disruption in production, Fall in consumer confidence and tigh