Deserted. Most shops on Luwum Street in Kampala remained closed since Thursday following a presidential ban on public transport and markets, among others, as some of the measures to combat the spread of coronavirus. PHOTO BY DAVID LUBOWA As of yesterday, the cumulative cases of Covid-19 around the globe was approaching 540,000, with more than 24,000 deaths.
The coronavirus, that started spreading from Wuhan City in China in December last year, is rapidly putting the economies of the world to a standstill as cases have been reported in about 200 countries and territories around the world.
Back home, the number of cumulative cases of Covid-19 increased from 14 to 18 following President Museveni’s confirmation of four new cases via his social media platforms on Facebook and Twitter yesterday.
The world was recovering from the global financial crisis that started in 2007, and the effect of coronavirus is clearly sending every economy to a backtracking foot since governments are having challenges on how to stabilise the sinking ship.
Everywhere, governments are charged with ensuring availability of testing kits and also making the health facilities ready to handle the overwhelming number of cases.
The number of people leaving their jobs without any assurance of when they will return is increasing by the day as governments opt for lockdowns or stay home orders as one of the mitigating measures in regard to fast spreading pandemic.
Much as governments in Africa have almost taken one common measure- the closing of borders, it is still not yet clear what they are up to in regard to shielding their economies from a fall if the pandemic surges as higher as it is in Europe, the United States of America, and China.
Countries earmark relief
With the US surpassing China with the number of confirmed cases (85,612 against China’s 81,340), the Trump administration has agreed with the Senate on a $2 trillion package to save the world’s biggest economy from falling as a result of the Covid-19.
This package includes $500 billion to help companies struggling with bank loans, $350 billion to save small business operators from closing shop, and $1,200 (about Shs5m) for lower and middle income earning adults. Each child has been provided with a $500 (about Shs1.9m) package by the government. There are other insurance packages for different categories of people.
As per a report in Quartz, the […]
