Economic slump due to Covid-19
Level one – too little too late?
Level one saw the opening of the economy but is it too late to save the damaged caused by level five lockdown.
Small and big businesses were hit hard alike by the national lockdown. The damaged caused by the lockdown had a ripple effect in society.
People pleaded with the president to opened the economy, but it fell on deaf ears. Many small and big businesses were forced to close shop resulting to job loss.
More than a third of the economy is destroyed.
The president has yet again made a loan by the IMF (International Monetry Fun and World Bank) to bail the country out of the pandemic crisis.
According to reports, an economist Morgan Stanley said the economy will take a while to recover.
Will the economy and the society stable as we enter 2021?
Mogammad Adams, a DSTV installation technician says the lockdown has crippled him. “I’m struggling to keep afloat. People are counting their pennies before they spend on luxury items.”
Habib Edwards, student accommodation manager said: “All our rooms are empty. We will have to wait what the new year brings.”
Quawnieg Bailey, Education Training and Development practitioner said: ” Level One was left too late. The country was already in a recession before the lock down. I have no work.”
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