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Friday 20 March 2020

Editorial

By Donicio R. Wever
ORANJESTAD — The outbreak of the corona virus caused many The situation we are in right now does not have another option than
businesses to close their doors and also led to more unemployment. to find financial support with the government of the Netherlands
This is a serious warning: Before things better, they will get worse. under favorable conditions in order to survive these difficult times.
In the times of the closure of the Lago, the government of Aruba
The Central Bank of Aruba does not have many reserves, maybe agreed to borrow 100,000,000 florin from the Netherlands. In the
four or five months maximum, and this goes along with practically current situation, we would need at least twenty times that amount.
no income during these months. Tourism is at a standstill, so there It is evident that a significant amount like this needs to be calculated
is no revenue from that sector. The average Aruban worker uses and determined thoroughly by financial experts and under guidance
their salary to buy products and pay for services, and still many send of an economist. To be clear, 2 billion florin is more or less 50 percent
money to their country of origin which results in a flight of money. of what we produce on a yearly base as country. A loan of this value
The savings quota on the island is relatively lower compared to other would be needed to bailout our economy and maintain employment
countries with the same level of development. This is the reason that on the island. The loaned sum would have to be directed to the
the Central Bank does not pass three or four months of import. With private sector with the goal keeping people employed.
the shutdown of tourism, our main source of income has disappeared.
If the mandate is to give financial support to the unemployed only,
The consequences will be bigger than what Aruba experienced those who have recently lost their jobs will do much more damage
in 1985 when Lago (the refinery) was closed or the 2008 Financial to our economy, and we are destined to fail in future reconstruction.
Crisis. We will not see a recovery earlier than by the end of the My hope is that this article will fuel a discussion about making the
year. The cinemas, restaurants, travel, minibuses and other public right choices to help Aruba keep moving forward.q
transportation are being crippled now.

Send us your positive message from home

ORANJESTAD — In these vacation for the future. You you give permission to The
difficult times we would like may also just say hello Aruba Today newspaper,
to reach out to our friends and show us how you feel Caribbean Speed Print-
abroad who were sup- because we are all in the ers and any of its affiliated
posed to spend their tropi- same boat right now. companies to use said ma-
cal vacation on Aruba or terials, as well as names,
who had to break up their Send us your picture(s) to- likeness, etc. for promotion-
vacation due to the CO- gether with completing the al purposes without com-
VID-19 situation. Aruba sentence: Aruba to me is pensation.
Today invites you to send …….. (Email: news@aru- Last but not least: check
us your picture and words batoday.com). Please do out our website and Face-
expressing your memory note: By submitting photos, book page! Thank you for
of our island or your dream text or any other materials, supporting our free news-

paper, we strive to make ward to have you here with
you a happy reader every us soon again! Stay healthy
day again and look for- and keep safe! q