Joint Statement – Ministry Of Finance & Grenada’s Bankers’ Association

PR – The Minister for Finance, together with the Permanent  Secretary and other officials of the Ministry of Finance met recently  with members of the Grenada Bankers’ Association. They discussed  macroeconomic and financial issues, including the effect of the  COVID-19 pandemic on the economy, giving special focus to the issue  of vaccination. They have issued the following joint statement:

“The Grenada Bankers’ Association (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 neighbouring  islands) deal with second and third waves of COVID-19 infections,  accelerating vaccination take-up becomes even more crucial and  urgent. 

Both sides are concerned about the relatively low vaccination levels  in Grenada, which heighten 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 lock downs. Therefore, vaccine  take-up must increase now to arrest the rising human toll caused by the  pandemic and to 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.  

Therefore, we 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 The  emerging global evidence suggests that higher rates of vaccination  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, sanitising 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.”