CORONAVIRUS:
Thousands of villagers boarded convoys of buses heading east of Kathmandu, Nepal, Tuesday, April 21, amid a nationwide lockdown. It was the first time that buses carrying passengers were allowed to leave Kathmandu since the lockdown was imposed last month, as part of measures to help stop the spread of COVID-19. Nepal’s government imposed the lockdown on March 24 and have extended it to April 27.
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READ MORE: South Asian countries could see their lowest growth in 40 years as lockdowns to contain the coronavirus pandemic freeze large parts of the domestic economies in the world’s most populous region, according to a World Bank report.
The South Asia Economic Focus report estimates that regional growth is likely to fall to between 1.8% and 2.8% in 2020, a steep drop from the 6.3% projected six months ago.
“South Asia finds itself in a perfect storm. Tourism has dried up, supply chains have been disrupted, demand for garments has collapsed, consumer and investor sentiments have deteriorated, international capital is being withdrawn and inflows of remittances are being disrupted,” according to the report.
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