BROOKLYN, NY– The Grenada Bankers Association (GBA) has warned that the low levels of vaccination will “lengthen the period of economic downturn” in the country even as it commended the “significant actions that have been taken thus far” to curb the spread of the coronavirus (COVID-19) pandemic.
GBA officials met with Finance Minister Gregory Bowen. According to a joint statement issued afterward, they discussed macroeconomic and financial issues, including the effect of the COVID-19 pandemic on the economy, emphasizing vaccination.
According to the statement, the GBA commends the “significant actions that have been taken thus far and those that are ongoing in managing risks related to COVID-19 to keep our country safe.
“However, as new variants emerge and countries (some neighboring islands) deal with second and third waves of COVID-19 infections, accelerating vaccination take-up becomes even more crucial and urgent.”
The statement said that both parties are concerned about Grenada’s relatively low vaccination levels, which heightens the risk of a second wave of COVID-19 outbreak and its accompanying social and economic ramifications.
“The harsh truth is that low levels of vaccination lengthen the period of economic downturn as well as social disruptions and increase the likelihood of more restrictions and lockdowns. Therefore, vaccine take-up must increase now to arrest the rising human toll caused by the pandemic and halt further strains on the economy and financial sector.
“While we understand that in normal times the choice to get vaccinated is a personal one, in the context of the deadly pandemic, the public good supersedes personal choice. These are extraordinary times, and as such, extraordinary actions are necessary.”
The statement said that the two parties “strongly encourage all citizens and residents to get vaccinated, because vaccination is the only sustainable way out of the pandemic and to protect those most at risk in the frontline in all sectors, be it public or private including banking and government services.”
They said the emerging global evidence suggests that higher vaccination rates tend to be associated with lower rates of infection, hospitalization, and deaths related to COVID-19.
“We also strongly encourage Grenadians to counter misinformation with credible and specific facts from reliable sources, including from family, friends, and co-workers who themselves have already been vaccinated. We also encourage everyone to adhere to the health protocols of physical distancing, hand-washing, sanitizing, and masking.
“We all have a responsibility to protect ourselves, our loved ones, our co-workers and to play our part in protecting lives and livelihoods,” the statement added.
The Ministry of Health said that so far, 21 859 persons have received the first dose of the Astra Zeneca vaccine, while 17, 013 have received both doses.
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