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Most natural and man-made disasters, from earthquakes to climate change to financial crises, have a disproportionately large negative impact on the poor and other vulnerable or marginalised groups. Pandemics like COVID-19 are not an exception. Although COVID-19 may be an "equal opportunity infector",1 the poor are more susceptible to infection and to succumbing to it if infected. The poor are also likely to bear a disproportionately high share of the burden of curtailment measures designed to curb the spread of the virus. COVID-19 not only highlights existing inequalities and disparities, it exacerbates them. Therefore, informed policy making that considers these ground realities and how they affect costs and benefits is critical especially in countries with high proportions of the poor, and where safety nets are likely to be weak. Unfortunately, limited testing capabilities is another feature of being poor, and this prevents the assembly of data required to make informed decisions. Fear of the unknown, coupled with the potential for exponential spread, is leading governments in poor countries to err on the side of caution and to employ draconian measures. Lockdowns are being prolonged because the data required to support a safe lifting of the measures cannot be collected, even though the same data deficit means that extensions may not be justified either. The costs of lockdowns on the welfare of the poor is rising, and can accelerate the longer they are in place, in the absence of income support. The infection curve finds its counterpart in the misery curve, which measures the loss of incomes and livelihoods, contributing to long-term and sometimes irreversible harm. This makes prolonged lockdowns not only a potentially erroneous policy instrument for minimising overall harm, it is also likely to render them ineffective since implementation will be compromised as violations begin to increase. This suggests that there may be a need, over time, to ease certain restrictions that inflict significant misery on vulnerable groups. Otherwise, violations may increase to a point where they compromise the overall objectives of the lockdown, causing health and economic crises that together approximate a humanitarian disaster.

The Asian Development Bank conducted a Philippine enterprise survey during April and May 2020 to gauge the impact of the novel coronavirus disease (COVID-19) on the business community. This report provides a rich set of initial facts and ideas for the government to develop evidence-based policymaking to support the revival of Philippine enterprises hurt by the pandemic. It also provides survey-based information for current and future analytical use.

The government budget reflects the government's spending priorities. It is deemed important to assess whether the priorities as outlined in the proposed 2020 President's Budget are consistent with the policy pronouncements of the current administration. In this light, the study examines whether budget allocation is consistent with the priorities that the government identified in its various policy pronouncements. It also evaluates the overall fiscal picture as projected in the proposed budget and its consistency with the macroeconomic assumptions. In addition, it examines the national revenue program, which together with the national expenditure program indicates the overall fiscal health in the 2020. The budget analysis indicates the high spending priority given to social services sector and economic services sector that is consistent with the policy pronouncements of the government. Nevertheless, the budget cut in the health sector needs further inquiry.

Multilateral Matters is the quarterly publication of the Centre for Multilateralism Studies (CMS), analyzing the most recent developments regarding multilateralism by our team. It covers articles on relevant economic and political issues as well as programmed and latest publications from the research center. The objective of the newsletter is to promote the research being done by our centre, raising awareness of the many events that we hold on a regular basis.

The COVID-19 outbreak is affecting regional economies. To cope with grim growth prospects, governments are leaning on fiscal stimulus to weather the crisis. Such policy measures will largely be determined by politics as different sectors compete for limited resources.

The economy of Batam Island, one of the most favoured tourist destinations for Singaporeans, has deteriorated significantly due to the COVID-19 pandemic. What are the implications and how has the local government managed the situation?

The objectives of CPD's media briefing, which is being organised as part of its COVID-19 Monitoring Initiative, are three-fold: To share CPD's assessment of GoB'spublic policy response in view of the ongoing corona emergency situation. To present CPD's proposals to ensure food and income security in the situation of severe disruptions and lockdown. To disseminate CPD's proposals which has sent to the NBR in view of the FY2021 budget. Today's presentation will focus on following issues: Quick assessment of government's economic interventions in view of COVID-19. An estimate of the food and income support, particularly for the marginalised people. CPD's budget proposals submitted to the NBR.

The main objective of this assignment is to assess the socio-economic impact of COVID-19 on the severely affected sectors of the economy including travel and tourism and associated informal economy. The emphasis is on the poor and groups made vulnerable by the crisis. The study intends to inform targeted measures to be taken by the government to mitigate the effects and to enhance community resilience. This assessment is closely coordinated with relevant government departments, as well as potential stakeholders that are currently involved in discussions around response and recovery. The assessment is rapid in nature to enable swift design and delivery of response measures to reduce the negative impacts at the household and community level.

Towards the end of 2019, the global economy appeared to be on an optimistic path of expansion, financial markets were bullish, and trade and political tensions were predictable. The onslaught of COVID-19 in early 2020, has abruptly cast a dark shadow of uncertainty through a concerted health, economic and humanitarian crisis playing out synchronously across the world. As countries have tried to 'flatten the curve' through lockdowns and social distancing guidelines, these measures have restricted the flow of goods, capital and labor, disrupted global supply chains, and resulted in losses of jobs and income, defaults and bankruptcies. Global efforts to flatten the 'infection curve' has triggered a macroeconomic 'recession curve'. The IFIs have projected a contraction of the global economy ranging between 3.3 percent and 5.2 percent, which is likely to worsen under more pessimistic scenarios. Cross border flows such as trade, capital flows and remittances also are expected to shrink in 2020. Likewise, logistics restrictions have prompted multinational firms to either diversify supplies over efficiency gains or turn inwards. Tourist arrivals is estimated to fall by 60 to 80 percent in 2020, translating to a decline in international tourism receipts (exports) of USD 80 billion globally. Nevertheless, countries are trying to carve safe corridors or 'bubbles' where groups of countries that have tamed the spread of coronavirus would be allowed to travel only among themselves as tourists or even temporary migrants. Furthermore, consumers tend to buy more essential goods and postpone conspicuous consumption in uncertain times: worldwide spending on tourism has seen a fall of over 50 percent. Likewise, lockdowns have prompted adoption of digital and low-touch activities. Some countries stand out for having tackled COVID-19 through widespread testing and contact tracing, early preparedness; harnessing of technology, often a result of sustained public investments in health infrastructure and leadership that believes in accountability.

COVID-19 originated in China with the first reported cases in December 2019, and then spread across well over 200 countries, territories and areas in less than four months. In the Philippines, the first confirmed case was on January 30, 2020 (involving a 38-year-old Chinese national from Wuhan), and the first recorded COVID-19 related death outside China was in Metro Manila on 2 February 2020.1 COVID-19 cases in the Philippines shot up to over 35,000 confirmed cases, and over 1,200 deaths in a span of less than five months since that first case. Unfortunately, it appears that the Philippines is still stuck in the long first wave of infections. Metro Manila and Metro Cebu, the two largest urban agglomerations in the country, have endured long periods of severe social lockdown put in place to limit the spread of the coronavirus in and from these pandemic epi-centres. COVID-19 and the resulting lockdown measures have plunged the Philippine economy into its first recession in two decades. The government estimates that the lockdown of Northern Luzon alone could have cost up to PhP24 billion a day in output losses.

Nowadays, global economic growth has been severely affected beyond anything passed in nearly a century. The outbreak of the coronavirus disease has brought its negative impact and destructive outcome on the economies alongside with the sharp fluctuations in global energy and stock markets. There might be observed a subsequent sharp decline in the number of transactions and practical shutdown of many markets due to the large-scale quarantine and self-isolation measures. Taking into consideration the abovementioned factors, it becomes clear that there emerged a need to revise all economic forecasts for 2020-2021. The International Monetary Fund (IMF) predicted a decline of the global economic growth rate in April (-3%), but in accordance with the current circumstances, the figures were revised in June, representing a 4.9% decrease. In spite of a fact that Azerbaijan became one of the first countries among the post-soviet countries, that allocated the largest share of GDP, in order to eliminate the economic problems caused due to the pandemic, the impact of the emerged difficulties made a necessity to revise the budget.

Multilateral Matters is the quarterly publication of the Centre for Multilateralism Studies (CMS), analyzing the most recent developments regarding multilateralism by our team. It covers articles on relevant economic and political issues as well as programmed and latest publications from the research center. The objective of the newsletter is to promote the research being done by our centre, raising awareness of the many events that we hold on a regular basis.

Azerbaijan became the country among the post-soviet countries, that allocated the largest share of GDP, in order to eliminate the economic challenges caused due to the outbreak of COVID-19. Providing favorable economic conditions in the post-pandemic period is as crucial as supporting the economy during the period of the pandemic. Thus, it seems like all implemented programs and activities, including the huge amount of government funding, is going to maintain the economic balance and provide the development over the long-term period. It is an undeniable fact that the impact of the pandemic on the economy might be fully assessed only over time. Experience demonstrates that early evaluation may lead to even greater recession and instability. This paper aims to demonstrate the challenges faced by Azerbaijan in the framework of the fight against a pandemic. Since the economy of a country was affected, a detailed analysis may provide a better understanding of the outcome, enlightening the areas which need more support and development.

Developing Asia has suffered as the COVID-19 pandemic persists. Growth, trade, and tourism collapsed in 2020, leading to the region's first economic contraction in nearly 6 decades. Governments across Asia acted quickly to contain the virus and its economic effects, and signs of bottoming out have now appeared. Inflation remains benign, constrained by depressed demand and declining food prices. A prolonged pandemic is the primary downside risk to the outlook. Persistent or renewed outbreaks and a return to stringent containment could possibly derail the recovery and trigger financial turmoil. Recovery depends on measures to address the health crisis and on continued policy support. The pandemic has highlighted the importance of wellness, both physical and mental. Wellness—the pursuit of holistic health and well-being—is a component of the UN's Sustainable Development Goals. This report evaluates the state of wellness in Asia, documents how the wellness economy is a large and growing part of the region's economy, and discusses how policy makers can promote wellness by creating healthy living environments, encouraging physical activity and healthy diets, and enhancing workplace wellness.

Developing Asia has suffered as the COVID-19 pandemic persists. Growth, trade, and tourism collapsed in 2020, leading to the region's first economic contraction in nearly 6 decades. Governments across Asia acted quickly to contain the virus and its economic effects, and signs of bottoming out have now appeared. Inflation remains benign, constrained by depressed demand and declining food prices. A prolonged pandemic is the primary downside risk to the outlook. Persistent or renewed outbreaks and a return to stringent containment could possibly derail the recovery and trigger financial turmoil. Recovery depends on measures to address the health crisis and on continued policy support. The pandemic has highlighted the importance of wellness, both physical and mental. Wellness—the pursuit of holistic health and well-being—is a component of the UN's Sustainable Development Goals. This report evaluates the state of wellness in Asia, documents how the wellness economy is a large and growing part of the region's economy, and discusses how policy makers can promote wellness by creating healthy living environments, encouraging physical activity and healthy diets, and enhancing workplace wellness.