DOI: 10.36347/sjebm.2020.v07i06.001

Pages: 197-208

The aim of this paper is to investigate the recessive impacts of the novel coronavirus (COVID-19) pandemic outbreak on the global economy in reference to the reports of the international agencies, including UNCTAD, OECD, UN, DESA, IBIS, and CDCP. How millions of people living in the vulnerable countries of the world are being infected and affected by the fatal virus is the main target of this study. The dreadful effects are prevailing in the global economy. Consequently, the worst case scenario has been created in macro economies. Global economy has become paralyzed and become stagnant. For this purpose, the paper would like to focus on the duty and responsibility of the global leaders through coordination and cooperation so that global economy can be invigorated. The impacts of the coronavirus on unemployment, capital flight, contraction of foreign direct investment, supply shock, demand shock, manufacturing industries, electronic goods, hospitality, tourism and cruise ships, oil prices, pharmaceuticals and healthcare, fashionable and luxurious products of the whole world have been discussed in this paper faithfully. Also, the adverse impacts of the COVID-19 on Bangladesh economies, including garment industries, remittance, and internal economy have been unveiled. Thus, paper would like to explore the current picture of the global economic crisis.