#BTEditorial – ‘Tis the season to prepare for first recovery

We are in the midst of the most lucrative season for businesses and no doubt after a year in which COVID-19 relentlessly stifled their attempts to return to profitability, operators large and small are pulling out all the stops to lure shoppers.

With the recent ease in the national curfew which has given way to longer shopping hours, there has been a noticeable uptick in business activity.

Business leaders have been pressing Government to fully reopen the economy. Indeed, it was one of the key messages from the 12th report of The Barbados Economic Recovery and Transformation Plan Monitoring Committee (BERT MC) issued on Monday.

Co-chair of the BERT MC and Chairman of the Barbados Private Sector Association Trisha Tannis in delivering the report said: “It’s essential that the full reopening of the economy takes place and that we really get to a position in our management of the crisis that we’re back to some degree of normalcy without restrictions but still being able to manage the crisis responsibly,” adding that measures to effectively manage the situation must be implemented to ensure the healthcare system does not become overwhelmed and that businesses can continue to operate safely and provide jobs.

“We need to avoid anything that looks like a full lockdown of the economy as much as we can. We do know if that’s anywhere in our near- to medium-term future that that will essentially set us back again.”

For well over a year now, Barbados has done a reasonably good job of trying to stem the tide of the pandemic and saving lives and while we are not in the clear especially with the threat of the omicron variant, hardly can anyone deny the need to focus on rebuilding the economy and livelihoods with a new year around the corner.

Striking the right balance won’t be easy but putting the economy on the path to recovery cannot be delayed.

While some argue that lives must come before livelihoods, the two need not be at odds.

The glaring fact remains thousands of Barbadians are still unemployed. The National Insurance Scheme, our welfare system and other social services are hard pressed to keep up with the demands. And Government borrowing, though understandable, is already high.

With a sharp falloff in tax revenue and the slump in economic activity, Government’s coffers are under pressure and therefore a clearly defined strategy for moving forward is key.

We are well aware of Government’s attempts to kickstart the safe zone initiative in the health sector which has fallen off track.

The lessons are however timely for the business sector which must find practical solutions to fully operate and return to viability while providing a safe environment for staff and clients.

In no way are we dismissing the threat posed by the coronavirus and we implore every Barbadian to play their part. Get vaccinated as soon as possible, wear masks correctly, avoid unnecessary crowds and gatherings whenever possible and wash hands frequently.

Examples from other countries that have re-opened while coping with COVID-19 and yes, even the emerging variants, show strong emphasis on boosting the rate of vaccination to achieve herd immunity, a robust testing capacity, continued contact tracing and the containment of isolated outbreaks.

Measures will also have to be taken to include precautions to ensure the safety of children, the elderly, children, people with comorbidities and others still unvaccinated.

Prime Minister Mottley has signalled that an increase in the vaccination rate and Barbadians adhering to the protocols could lead to the lifting of restrictions.

Clearly, opening up is not easy or without risk, and there will be mishaps along the way but remaining in limbo is not an option.