We analysed the macroeconomic policy responses to COVID-19 pandemic and the impact of the pandemic on economic growth, and the level of consumption. The COVID-19 crisis is a dual crisis - public health crisis and a macroeconomic crisis. The policy responses to this crisis have been a ‘life versus livelihood’ sequencing and the findings are such that global cooperation, and domestic macroeconomic policies complementing with exit strategy to solve the economic disruptions in supply chains can be helpful.

 

Keywords: COVID-19, Monetary Policy, Fiscal Policy, Macroeconomic Responses.

JEL Classification Codes: E5, E6, I150