The outbreak of coronavirus pandemic has left the economy of several countries of the world in disarray. The sudden outbreak of contagion forced many countries to observe a prolonged lockdown that unleashed an unfathomable stress on their respective countries' economy. The world has not yet been able to control the pandemic even after about six months of the virus outbreak. As the world reels from adverse impacts of the deadly disease, the trade, industries, businesses, banking services and overall commerce across the globe have been dealt a severe blow. Also, the pandemic has rendered millions of workers and enterprises vulnerable which has seen a sharp decline in investment, trade and disruption in travel and hospitality sectors. The trouble caused in the job market is unusually high due to the adverse impact of the pandemic.

The economic fall-out of the pandemic doesn't end here. Decline in remittances and official development assistance and shrinkage of other resources are sure to compound economic stagnation. Migrant workers have been losing jobs in their destination countries and are returning home in hordes amidst pandemic crisis without protection of their jobs and income. The impact of such crisis in the job market and poverty would be quite high in the least developed countries and low-income states. A country like Nepal, a low-income state, will thus have a very tough task in dealing with the economic problem that has arisen out of COVID-19 outbreak. For Nepal, as for other nations, protecting the most vulnerable, including the migrant workers who have helped keep our economy afloat during crises and those in informal sector, along with the implementation of provisions of adequate social security and health care, are some of best ways to minimise the pandemic's impact on our economy.

The prevailing situation definitely calls for a robust global response while the global agencies like United Nations and ILO need to play a key role in minimising the adverse impacts on nations, especially the low-income ones. Highlighting the economic stress unleashed by the pandemic, Prime Minister KP Sharma Oli, while addressing the Virtual ILO Global Summit the other day, advised that the world should support and strengthen the global agencies to promote human-centred agenda of decent works as embraced by the ILO and WHO whose norms and principles should be observed and followed to avoid impending crises. International solidarity at this gloomy time can prevent job losses and help migrant workers return to their destination countries.

What is solacing for a Nepali is that Nepal has undertaken some steps to avoid the negative impacts of the crisis on its economy and on its overall social fabric. The implementation of programmes like the PM's Employment Programme, Food For Work, subsidy to private sector for apprenticeship wages, skill development for re-deployment and reorienting of poverty funds for production and sustainable employment generation and restructuring of agriculture and support for SMEs without doubt are notable and commendable programmes that have assisted the state in reducing the adverse impacts of the pandemic on nation's economy and job market. However, it must also be said that dealing with the crisis at a global level, international support and solidarity is highly required