Pakistan is facing unprecedented health and economic shocks from the rapid propagation of the Covid-19 outbreak. Growth is expected to contract sharply, by -1.5 percent in FY 2020, as the economy is buffeted by demand and supply shocks. Exports and remittances are expected to decline sharply, which together with a temporary loss of market access create an urgent balance of payments (BoP) need. In addition, public finances are expected to come under significant pressure from the sudden increase in health- and mitigation-related expenditures as well as the decline in tax revenues.