With the coronavirus pandemic hitting Bangladesh hard, millions of the country’s poor are slipping back into destitution. The health crisis coupled with the prospect of deglobalisation are already reversing much of the country’s impressive gains in poverty reduction. Poverty in the country has now doubled from 21 to nearly 41 per cent.
The fallout is particularly devastating for the South Asian country’s economy, which is disproportionately reliant on its global supply chains to keep its economy thriving. Its garment industry alone contributes about 16% of Bangladesh’s GDP. With the effects of the pandemic hitting the nation hard, how bad is it likely to get? Can the nation’s poor survive the onslaught of the pandemic? Will the government’s stimulus package help improve the plight of the country’s poor?