Salone News

Give Bank Governor a chance

28 December 2020 at 22:52 | 1276 views

Contributed

By Brima Orfeh Fofanah, USA

A lot, or should I say, too much has been made of the shortage of cash in the banks.

As frustrating and inconvenient as this situation may be, we should try to be measured in our criticism of the Bank Governor, instead of running away with it, exploiting the situation as political fodder, trying to score political points with 2023 round the corner.

I watched the Governor being interviewed on video, coming out as clean as he could baring his soul.

His explanation of events leading to the present state makes complete sense. We in Africa should count ourselves lucky, having been so far shielded from the devastation effects of the pandemic. This pandemic has led to a slow down in everything. Think of how many containers are arriving at the port these days compared to what it used to be pre-Corona. Even truckers at the port now have their businesses slashed by almost half. How do I know? I have friends engaged in the business.

The Governor came across as honest, sincere and dedicated to his job.

Go back and listen to the Governor on video. He had made sure to order enough for two years, then Corona struck. Everything slowed down. Printers could not honour orders on time. The situation is further compounded by people hoarding for reasons only they know.

The pandemic has adversely affected all countries, in all areas.
Maybe this is how it has decided to come down on Mama Salone.

It is frustrating, inconvenient for all right now, including the Governor. Countries, even the most developed like the US go through times of stress. We also do in our individual personal lives. The silver lining to it all is it will not be forever, it will pass.
People are going through hard times in the US. To feed their families, for the first time, many have to go to food kitchens, food banks, where food is given at no cost by charitable organizations. The lines could be one, two miles long. Hard to believe if you do not live here. Now Law makers have decided to give a one time stimulus check to people who qualify of $600. Trump who kept away from the negotiations refused to sign saying it should be increased to $2,000.00 Gimmicks. People sleep under bridges because they have been evicted. Homelessness in the US is a big social problem.

Unemployment has hit an all time high-14,000,000 receive unemployment checks weekly. When corona struck it was $600 weekly. It has been reduced to $300 weekly if Trump goes ahead and sign. I just heard he signed today. Will check it out.
The hospitality industry, which is one of the biggest employers is in trouble, 110,000 restaurants have shut their doors for good. Those that have shut down but may reopen are more in number. 37 percent of the hotels have closed.

So you see the pandemic has struck in many diverse ways, both countries and individuals.

In Sierra Leone the shortage of cash in banks is one way. I do not want to sound pessimistic but you all need to brace up. We hope it does not happen, but the more corona extends its tentacles in our country, the greater will be the hurt.

As for the Governor, please give him a breather and try to understand what he is going through.

Photo: Bank of Sierra Leone Governor Professor Kelfala Kallon

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