Bangladesh’s economy may continue to suffer under the Covid-19 pandemic throughout the current fiscal year (2021-2022) due to vaccine shortages and the government’s incapability to enforce a strict lockdown. For this, it will continue to struggle to achieve Covid herd immunity through inoculation of vaccines for its reliance on the supply under COVAX scheme. So, there remains the risk of more vaccine shortages, posing a bottleneck to the country’s vaccination drive once again, says a Fitch Solutions report.
An American renowned credit rating agency and global leader in financial information services, Fitch Solutions has also revised its forecast about Bangladesh’s GDP growth for FY 22 to 5.5 per cent from its previous projection of 6.7 per cent. Moreover, the inability of the government to credibly enforce stringent lockdowns for, as long a duration required to stem the ongoing outbreak, will likely see pandemic-related reasons reflect on the country’s economic recovery. These weaknesses prevent a return to pre-pandemic trend growth of 7 to 8 per cent over the near term. Besides, still-low rates of vaccination will imply elevated infection risks throughout FY22, opined the report titled “Persistent Pandemic Headwinds to Cap Bangladesh’s Economic Recovery Prospects”.
Shortage of vaccines has created a chaotic situation since Saturday, the first day of the six-day mass inoculation campaign, in most of the vaccination centres across the country as hundreds of people who completed their registration did not get the vaccine on the first three days. At least 2.45 crore people aged 25 years and above completed their registration, over three lakh of them are foreign-bound workers and students. Among them, 1.31 crore people received the first jab and only around 45 lakh got both the first and the second doses. In such a shaky situation, the government has decided to lift most of the restrictions on people’s movement and public transport from tomorrow (Wednesday) even when the pandemic continues to exact a heavy toll on people’s lives with high death and infection rates. Terming the decision as strange, health experts have said relaxing restrictions means the death and infection rates would increase further.
As has been observed during the three days, the mass vaccination drive has become a drive to spread mass infection due to the mismanagement at the vaccination centres. The government had first announced to provide one crore doses of vaccines during the drive, but later it changed the decision and planned to inoculate 35 lakh people. The government should come up with a firm roadmap on vaccine collection and then strengthen vaccination drive.
