The coronavirus disease (COVID-19) pandemic triggered a health emergency that quickly mutated into an economic crisis of unforeseen proportions and dimensions. Containment measures in the form of trade restrictions and prolonged lockdowns snapped critical economic nodes, causing widespread disruptions and losses. Tourism and aviation sectors ground to a halt, small and medium-sized enterprises suffered a very high incidence of firm closures, the manufacturing sector suffered job losses, supply chain disruptions further aggravated production costs, and uncertainties and large-scale job losses put additional pressures on governments. It was clear from the onset of the pandemic that the development and roll-out of vaccines would be critical for containing the epidemic and paving the way of normalcy. The scientific community developed vaccines in record time, and governments rolled out the biggest inoculation programs of human history. In the meantime, guiding economies back to their pre-pandemic levels remains a daunting challenge, despite public policy interventions in the form of packages aimed at averting economic meltdown as well as for sustaining recovery. Central Asia Regional Economic Cooperation (CAREC) countries experienced all those upheavals and challenges, many of which persist.