By Mohamed Jaward Nyallay
President Julius Maada Bio has warned of a bumpy ride ahead as the country responds to the Covid-19 pandemic, urging Sierra Leoneans to be prepared for it.
“It is not going to be the same. It is going to be tough, as it is all around the world. We must brace up for some tough times ahead,” the President said at a press briefing at State House on Wednesday, the first presser after the end of a three-day nationwide lockdown as part of the Covid-19 response.
The president’s warning comes midst soaring prices of commodities and worsening of the general economic situation, occasioned by the Coronavirus pandemic.
President Bio gave update on the government’s response so far.
Last week the Minister of Finance, Jacob Jusu Saffa, said they had already presented a proposal to development partners for consideration.
“Together with that program is what we call the Quick Action Economic Response Program with a financing gap structure of US$96 million and in the long term of another US$44 million,”
Saffa told journalists at a press conference on the 31st of March, the day the country confirmed its first case of the virus. As of Wednesday April 8, the cases had increased to seven.
On April 2nd this year, the World Bank Group, one of the leading development partners of the country, approved a US$7.5 million grant for Sierra Leone to help tackle the virus.
Just a day after that, the International Monetary Fund also approved a US$ 21.13 million under its Extended Credit Facility program, bringing the total disbursement under the program to US$63.39 million over the last two years.
It is not clear yet where these incoming funds will fit into the government’s broader economic program. The Ministry of Finance have not announced any comprehensive measure, almost two weeks since the country registered its first case.
Three weeks ago, the Bank of Sierra Leone announced a Le500 billion stimulus package for businesses that will be affected by the pandemic.
President Bio said his government was also working with development partners to see exactly where they will support businesses.
“We are working with development partners to try and see how we can intervene and cushion the effect, considering everything that is going on with small businesses and corporations in the current economic situation,” he said Wednesday.
The lockdown lasted for three days – from Sunday April 5 to Tuesday April 7. The National Commission for Social Action (NaCSA) said it spent over Le 4 billion to distribute food to some of the poorest households in the country.
Bio said that any more economic stimulus will target these sorts of people.
Throughout his address on Wednesday, the President played down the idea of shutting down the country for two or three weeks as other countries have done, saying he is worried about the economic difficulty that might cause on many families.
Just hours before his address to the nation, the 7th case was confirmed.
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