COVID 19: Finance, and political risks influenced ‘unlocking’ of restrictions – Prof Gatsi

Dean of the University of Cape Coast Business School, Prof. John Gatsi has scored that the unlocking of the partial ‘lock-down’ in the Greater Accra, Greater Kumasi, Tema and Kasoa areas, is largely influenced by some financial and economic, as well as political risks, that an extension of the restriction poses to the country.

President Nana Addo yesterday, in a televised message, called off the ‘three weeks old’ partial lock-down of these communities.

Government has since, been offering some social support, in terms of distributing food to vulnerable communities, and waivers on utilities; one that is estimated to cause the state billions of cedis should the pandemic persist for longer period.

This, Prof. Gatsi explains that, government couldn’t have sustained these initiatives as it overwhelmed the state’s coffers.

“…once I infer that the economic cost of the lock-down is huge, it is not sustainable. Because on daily basis, you see the needs of people that are offloaded to government, so if you want to continue the lock-down, – Accra and Kumasi have created this financial burden, what of if you go to the Eastern Region” he said in an interview on Skyy Power Fm’s morning show; the Jolly Breakfast Show.

The renowned economist continued that the country risk being plunged into a state of insecurity, as “the pressure on people was such that, by the close of this new week, if they were not to unlock, you will see a lot of people misbehaving because they can no longer stay in their homes without access to what they used to”

The other risk factor Prof. Gatsi identified is the political implication on the continued ‘lock-down’. He indicated that the COVID 19 pandemic had altered the political calendar and programs of various political parties, and that given that the country need to prepare for election this year, the lock-down will have to be lifted.

“Whether we like it or not, COVID 19 has actually destroyed the political calendar of politicians, it has destroyed their programs, plans, and in fact it has destroyed and put pressure on them to meet the needs of the people” he said.