Top economist says either lockdowns or out-of-control virus spread would be “detrimental to the economy”
NASSAU, BAHAMAS — All Bahamians must bear the collective responsibility of helping to curb the spread of COVID-19 to ensure this nation’s economic revival is maintained, according to a prominent banker.
Gowon Bowe, Fidelity Bank (Bahamas) chief executive officer, noted that all-out lockdowns, as well as an uncurtailed spread of the virus, would both be “damning” to the economy.
“There is a tipping point, notwithstanding all other factors, that you are going to have to make some decisions,” Bowe told Eyewitness News.
“I think the message is that the last resort will be lockdowns. If you look at some other countries — UK, Spain, Canada, Germany — they re-employed lockdown mechanisms when their numbers started to get out of control.
“I think the message locally is that we are a smaller nation, should be more agile and able to conform better. The message should be that in the absence of self-discipline and self-regulation the threat always exists of having to take more drastic measures.
“In order to maintain the economic resurgence that is starting, we all need to look in the mirror and say that we are personally responsible for ensuring that The Bahamas remains clean, green and COVID-free.”
Tourism Minister Dionisio D’Aguilar said on Monday that the country must “double down” on its efforts to curb the third wave of COVID-19 in the country, acknowledging that the US Centers for Disease Control and Prevention’s (CDC) level four health notice on The Bahamas was certainly not a “bright spot” in the tourism industry’s attempted rebound.
The CDC has advised against travel to The Bahamas, moving this nation from a level three health notice to a more serious level four. In its notice, the CDC warned that COVID-19 levels in The Bahamas are “very high”.
The country currently has 477 active COVID cases and 9,800 in total since the onset of the pandemic.
Bowe said: “All-out lockdowns would be detrimental to the economy but, equally, an uncurtailed spread of the virus would also be damning. A lockdown, whether by imposition or happenstance, is a reality that we have to avoid at all costs.
“Our leaders need to be saying that if persons don’t act responsibly, there are laws and actions that will be imposed to make decisions that we should be personally making.”
