The National Bank of Rwanda has put in place many measures to mitigate the COVID-19 menace that has dented the economies of countries. The latest is the lifting of withdrawal limits in savings cooperatives (Saccos) to cushion members in these trying times. The partial lifting of the lockdown means that the two-month pressure on household earnings, especially among casual workers who were most affected. While some few countries have ignored the social distancing advice for fear of bringing their economies on their knees, others do so to show a semblance of normality. The ill-advised show of bravado could be their undoing. The extreme reduction in production means that many have depleted tax sources and nations are beginning to drain their reserves. Now many are turning to sports to lift their spirits and earnings. Popular mass sports such as football not only help to keep many entertained, they are also sources billions of revenues. Many countries are mulling resumption of competitions albeit with caveats, but in Rwanda the message is clear; the moratorium on holding mass sports will only be lifted in September at the earliest, though training sessions will resume in August. Germany, the football powerhouse might do that as early as next week even if it means playing in empty stadiums, as long as television revenues resume streaming in. In Mexico they have a more pressing issue; beer. With the suspension of production, authorities claim they only have a few days’ of supplies and could soon run out. The worries are well-founded as beer is worth five billion dollars and accounts for at least 20 per cent of exports. Incidentally, their flagship brand, mostly exported to the US, is called Corona. Unfortunately, many Americans are boycotting it for obvious reasons. But the bottom line is this; should safety fall prey to financial considerations? Whatever the cost, stay safe.
