Coronavirus a greatest threat to Caribbean economy, how to tackle? ~ WIC News

The corona virus recession could turn into depression for almost all Caribbean districts as the COVID-19 pandemic worsens the situation. The situation is difficult to cope with, as it tears apart the public on one side and experiences a recession-like state in another economy.

Governments across the Caribbean are well on the way to saving their people and economy from the COVID-19 pandemic, with substantial aid to those on wages or those who will suffer huge losses, including taxi drivers, tour operators, small buses, restaurants and hotels and all other tourism related companies as it is the main source of income for almost all Caribbean countries.

In this economic tsunami, some of the prime ministers took wise steps to protect their people and economy. However, some are confused as to whether they should strengthen the medical facility or support the economy due to limited resources.

A simple example of this is the Prime Minister of Grenada, Dr. Keith Mitchell, who recently announced more than $ 42 million in aid to help overcome economic crises, aside from power and tax reduction plans:

  1. "We are working tirelessly to avoid layoffs and loss of livelihood in the tourism sector by providing income support to hoteliers, restaurants, bars, small travel agents, and $ 20 million in wage support and public buses, taxi drivers, tourist sellers, and others."
  2. Adjust the $ 7 million small hotelier facility at Grenada Development Bank to this facility.
  3. Work with NIS (National Insurance Scheme) to support $ 10 million in unemployment benefits.
  4. Suspend the 2% increase in NIS payments for the period.
  5. Encourage the union movement to work with the business community.
  6. Expand public sector investment programs to promote employment at local level.
  7. Put the monthly prepayment on corporation tax.
  8. Put the installments on the annual stamp duty.
  9. The government is committed to ensuring that electricity costs are reduced by 30% from three months, including March, April and May.
  10. Put certain cleaning agents on the price control list.
  11. Expand the soft lending facility for small businesses with more than $ 5 million in support.
  12. Increase support for farm workers to immediately boost agricultural production across the island.

On the contrary, the Prime Minister of St. Kitts and Nevis has so far disappointed the nation's people because he appears to be confused about the choice of the local economy revitalization program.

So far, there has been no COVID-19 positive case in the country in St. Kitts and Nevis. Due to the decline of the tourism industry, which is the breadwinner of every citizen, the country is still in the great economic crisis. Instead of helping people, the governments of St. Kitts and Nevis decided to spend $ 16 million on modernizing the health system.

After a video surface internet in connection with this WIC News correspondent, however, the situation of the viral video was compared. It turned out that the video showed some truth. In addition, 85 health professionals from Taiwan and Cuba reached St. Kitts and Nevis to better treat COVID-19. However, the facts given in the video are correct.

  1. $ 16 million was injected into the healthcare sector for COVID-19
  2. 85 professionals from Taiwan and Cuba
  3. No entry for nations affected by COVID-19

In an interview with WIC News, former official Nigel Faron compared the situation to the government of Dr. Denzil Douglas under the Labor Party. "If this was the situation under the employment service. Dr. Douglas clearly could have done much better than the current prime minister. Dr. Douglas is the season leader as he has already mastered the major crisis during Hurricane Lany, the sugar industry shutdown and the international recession in recent decades, ”he added.

He also mentioned that Dr. Douglas shared his proposed plans to boost the economy of St. Kitts and Nevis through his personal social media handle: "There is a possibility that Dr. Keith Mitchell's advice or reference from Dr. Douglas received because he is one with a knack for crisis management. "

The mere appearance of video content on the website does not constitute endorsement of such video content by WIC News or its affiliates. The video is uploaded for reference purposes only.

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