• Tuesday, Aug 09, 2022
  • Last Update : 04:24 pm

ED: On the road to inclusive recovery

  • Published at 05:07 am April 11th, 2021
economy
DHAKA TRIBUNE

Our inclusive recovery numbers paint a picture of strength and resilience, and give hope that we will build back, yet again

The first wave of the pandemic hit us hard -- no one can doubt this brutal fact. But Bangladesh built back, and achieved a degree of recovery that has been more inclusive than even some high income nations of the world. 

A report published by the International Food Policy Research Institute (IFPRI) in association with Cornell University shows that there has been a fall in unemployment and a reduction in food security in the aftermath of the economic toll taken by the first lockdown. What gives hope is that in rural Bangladesh, unlike in high income countries, recovery has been inclusive.

It is understandable that at a time when the country, indeed the world, is going through a crisis of this magnitude, inclusive economic recovery can hardly seem like a cause for celebration. After all, we are now in the thick of things -- with the Covid-19 death toll as high as ever -- and on the verge of a much-needed second hard lockdown.

Nevertheless, a country like Bangladesh must keep matters in perspective: Unlike many richer countries, we do not have the luxury of dropping everything to focus single-mindedly on Covid-19. Because for us, economic disaster, just like coronavirus, can also spell disaster for the masses. We cannot afford to forget the plight of the poor, especially in rural areas, who are highly dependent on their day’s income to put food on the table.

There will be more losses in the future, as this is a tough time, and all options on the table look less than ideal. Yet, our inclusive recovery numbers paint a picture of strength and resilience, and give hope that we will build back, yet again, and recoup our economic losses relatively quickly.