Our professor for reputation and crisis management at Kellogg School of Management told us: "Nothing seems to work during a crisis. People are either confused or panicked all along."

Hence, he emphasised and re-emphasised appropriate communication and paying heed to informal waves also.

Communication has to be effective and accurate in almost every situation even during normal times because if it isn't, then chances are that there will be misunderstandings, wrong actions will be taken, and negative outcomes will have to be endured. In times of crisis, it is critical that communication is near perfect, precise, and well-organised, especially when it is being disseminated by the authorities to the public.

We are in crisis mode in Bangladesh right now on multiple fronts such as high inflation, looming foreign currency shortage, power shortage and disruptions in global supply chains. In fact, anyone who says that we are not in any kind of crisis at the moment is either intentionally misinforming or is very likely out of touch with reality.

It is essential that the authorities take charge and maintain reasonable control of communication channels to ensure that people are getting the correct message and are not relying on informal and unofficial channels

Any possible miscommunication based on unrealistic opinions needs to be fully restricted because the Bangladeshi public is definitely smart enough to know that the current situation in the country is not at its best.

Hence, it is vital that the communication from the government to the people is consistent and appropriately planned with the presumption that people are already well aware. During such times, ineffective communication may lead to widespread panic among the general public.

If there is a lack of adequate communication from the relevant authorities, then it would likely result in the creation of rumours and the so-called "grapevine" becoming the dominant force in fashioning the perceptions of the people and this is certainly not desired during such times.

Thus, it is essential that the authorities take charge and maintain reasonable control of communication channels to ensure that the public is getting the correct message and are not relying on informal and unofficial channels which may not always have the best intentions.

It is important for the authorities to control the narrative and keep the general public calm.

Communication from the authorities may also be designed to create and sustain the confidence in the people and provide realistic guidance to them for handling the situation. Intentionally misinforming the public may lead to them quickly realising that they are not being treated honestly and that there is an attempt to hide the reality from them.

Instead, if the authorities are cautiously candid with people and inform them of the actions the government is taking and what is expected during this crisis period from a realistic point of view, it may actually increase the public's confidence and give them some rational relief.

Even the people close to the government must apply caution while speaking in the public domain. While in a dealing room environment in the mid-nineties, I saw how a translation error in the speech of the chief of Deutsche Bundesbank in French forced the German mark to lose many points in currency trades.

The author is an economic analyst.