Short Economic advice to the Gambia Government
The spread of the COVID-19 virus is a global emergency for people’s lives and health. At the same time, the outbreak is having major effects on the economy globally. To mitigate the effects of the COVID-19 outbreak and to reduce the spread of the virus, several economic measures have been taken.
Due to the extraordinary situation and the fast-moving pace of events, further measures to strengthen the fight against the virus outbreak and its consequences may rapidly need to be taken. The measures taken so far in response to the COVID-19 virus are outlined below;
The Gambia government should employ quantitative easing methods to cope with the Covid-19 pandemic. The small and medium businesses should be assisted with financial packages, debts obligation be postponed by financial institutions, strict measures be taken to monitor basic goods prices fluctuation. Any businessman found hiking or hoarding goods be severely dealt with.
Rent obligations are canceled until normalcy is restored. I do not foresee this point be implemented because the President, Adama Barrow, is a rent collector and has a vested interest in this regard. The GRA should postpone tax collection for at least three months.
Moreover, the government should engage involve in the importation of rice, sugar, onions, oil, etc. The government should offer financial support to workers in the tourism and hospitality industry, and any other industry that laid off their workers due to the Coronavirus. Government projects on construction should be halted with immediate effect, and all funds thereof are channeled to the importation of foodstuffs.
Our borders should be closed; no entry halas!!!
Amadou Kurabia Baldeh,