December 13, 2020 The World Bank and the International Monetary Fund have projected a contraction of 5.2 percent and 4.4 percent in the global economy Few economists could have imagined a pandemic as lethal and scary as the Covid-19 only a few years ago. More than 68 million people worldwide have already been infected with the virus and more than 1.6 million have died of the disease. Economic activities have been affected to such an extent that the World Bank and TShe International Monetary Fund have projected a contraction of 5.2 percent and 4.4 percent, respectively, in the global economy. The economic impact of the pandemic has not been uniform across the world however. In Pakistan it has been relatively less severe. Still, for the first time since 1952, there has been a negative GDP growth (0.4 per cent). Despite setbacks in almost every other sector, the banking sector’s performance has been satisfactory over the first 11 months of 2020.