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Economy can not afford a second COVID-19 lockdown – !Gawaxab

Economy can not afford a second COVID-19 lockdown – !Gawaxab

The economy can ill afford a second COVID-19 lockdown, the Bank of Namibia (BoN) governor, Johannes !Gawaxab echoed on Wednesday.

!Gawaxab during a donation of COVID-19 equipment worth N$3 million to the Ministry of Health and Social Services reiterated that any lockdown even one as contained as a partial lockdown, could have a severe, long-lasting impacts on the economy.

“The damage caused could take years to undo. For this reason, it is sensible to prevent a further deterioration in the COVID-19 matrix in Namibia by focusing on prevention and containment,” he said.

According to !Gawaxab corporate Namibia needs to support government to protect the gains that have been recorded last year fighting this pandemic.

“And as individuals we should continue to play our part as responsible citizens and remain calm, and adhere to the recommended safety protocols, in order to protect our loved ones, our colleagues and our fellow citizens,” he added.

Meanwhile, he said the central bank remains committed towards supporting initiatives to assist and support the people as this pandemic requires an economic response that is equal to the scale of the disruption it is causing.

This includes a broad range of measures to mitigate the worst effects of the pandemic on businesses, on communities and individuals, he said.

“As we collectively drive the recovery of our economy as the country emerges from this pandemic, our economy must be open to new opportunities. The Bank of Namibia will play its role and move forward with efforts to grow the economy more rapidly as we work with the government and private sector to contribute effectively to economic development,” he concluded.


 

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Musa Carter

Musa Carter is a long-standing freelance contributor to the editorial team and also an active reporter. He gathers and verifies factual information regarding stories through interviews, observation and research. For the digital Economist, he promotes targeted content through various social networking sites such as the Economist facebook page (/Nameconomist/) and Twitter.

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