August 9, 2021: 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.”