“Cash is King” as they say. Without cash even the government, businesses, and the people will suffer. In times of crisis such as the one we live in, access to cash proves more difficult even for the employed. How much more the unemployed and vulnerable. And maybe the situation will be worsened months after the coronavirus pandemic in Ghana.
In a view, COVID-19 (coronavirus) is only a catalyst to more people losing their jobs because even before it hard hit to the people of Ghana, we had an uncountable number of people losing their jobs and daily bread due to the closure of a number of banks and micro-finance institutions in Ghana (since 2008). In addition, the change of government has always had it part of the story where some workers are told to go home or contract already awarded by the previous government aborted.
Also because government is not always transparent in its recruitment process, it makes many new graduates getting access to the few government positions difficult.
But going forward, a lot more people are going to go home or get fired from their jobs even if they survive the coronavirus hunger, and the disease itself after June 2020 as some predict. This is because with the COVID-19 and stay at home measure, peoples cash will soon get finished, unless those who insure a future income. Some businesses will find it difficult to take-off or start over with customers making little or no purchase. And many enterprises may close down due to capital or customers lost.
Some businesses around may likewise find it difficult to break even and pay salaries of employees not to even talk of taking new hires. Government may not be able to award new contracts nor pay old contractors on time, all adding up to the problem.
In the midst of the predicted hunger and job crisis, government intervention will only do us good if it is not political and discriminatory. Getting people and businesses back on track will not be automatic, because the government has already promised so many free stuffs, which some may not be fully honored as promised. The government may seemingly run out of cash to support the vulnerable and still embark on campaign for the 2020 elections.
At this point and month after the COVID-19, an immediate remedy may be for people to be frugal, government should continue to relieve people and businesses from increasing taxes, banks should be encouraged to keeping lending but to responsible people and businesses (those faithful to always pay their debt). Likewise, tenants whose rent are due should sit with landlords, and borrowers should have new discussions with people and institutions who already lend them some monies before the pandemic.
Last but not the least, it meant no disrespect, but we should for once abide by our laws and stay out of troubles. I will do it myself. I will even keep washing my hands, keep my hand sanitizer in my bag, and leave my sandals at the door.