NASSAU, BAHAMAS — A Bahamian accountant and fraud expert yesterday warned that continuous lockdowns could result in long term economic harm to the country.
Kendrick Christie told Eyewitness News, “one must balance the approach”.
“I do believe the lockdown is a tool to be used but it has to be carefully considered as continuous lockdowns result in long term economic harm for a short term virus threat.One must balance the approach,” he said.
“It must be risk based and take into that The Bahamas is an archipelago. The risk in one island may not be the same as another. The population concentration may not be the same as another.
“It is risk based as one does not have the country resources to manage the virus for such a large area so while you may institute heavy restrictions for high spike areas, you should do controlled measures for low spike areas to allow that island’s economy to function and benefit from being low spike. Vietnam is one of the many countries that is revisiting the wholesale lockdown and doing more targeted restrictions with excellent results.”
Christie said: “One must understand that the very same restrictions you employ may cause a concentration of persons in one area with low social distancing.
“We know we are a heavy cash based society so limiting banking to three days at 1pm has been causing very long lines and frustration for Bahamians.”
Christie stressed that government must have a lockdown exit strategy.
“We must understand that with our deficit which stands now at $1.3 billion, meaning that forecast expenditures exceed revenue,” he said.
“Government while restricting business owners and employees however well intentioned will not be able to assist these persons and entities when manpower is reduced or they are forced to close. COVID-19 tests, masks and other PPEs are not even given free by the Government.”
He added: “We as business owners are asking the government to unveil the exit strategy and come. up with an innovative, balanced plan to get our economy going while managing the virus.”
