Amiss how to turn the tide, for the past few months now our world has been buckling under a pandemic that tightened its grip on it.
People worldwide have trimmed their activities to confine themselves within the domains of their homes.
Researchers, backed by politicians, are working round the clock to come up with an antidote to Covid-19.
Many are the countries that tried to introduce breakthroughs in the engagements to come up with efficacious drugs, vaccines and herbal medicines.
Despite the dauntless nature of the virus that does not discriminate affluent countries and developing ones, haves and have-nots, feeble ones and strong individuals, toddlers or senior citizens, public figures and ordinary people, the fight to conquer the virus has proceeded apace.
Super powers, boasting the challenge of this world is a not a hard nut to crack, are seen cowering down with sheer terror hard hit by the virus.
Researches have also revealed that the pandemic has hamstrung USA’s economy by 4.8 percent.
Arab Countries that heavily leaned on the export of fuel to lead a luxurious life are facing a tragic fate. Following the economic slowdown on the wake of Covid-19, fuel price has hit its ever low point. Extrapolation shows their economic growth could tumble below the zero label mark.
The prognosis of researchers show, above any other continent, the pandemic will highly militate against strife-torn and conflict-ridden African countries wadding through economic morass. Though not to the projected
level, the pandemic does cast a specter of death on the skies of such countries.
It has not taken the pandemic long to shake the economy of African countries exporting yields to prop up their incomes simultaneously extending a helping hand to affluent nations. As the saying goes to add an insult to injury, these countries are now confronted by the brunt of the pandemic.
Ethiopia is no exception to the unfolding. Specially, the cancellation of Ethiopian’s flights hamstrung the country’s export activities. However, the recent report of IMF throws light on the presence of light on the other end of the tunnel for countries like Ethiopia.
Some economic analysts had made a prognosis that at this moment in time, when countries economic growth is downward spiraling, stunningly, Ethiopia’s growth maintains from 3 to 4 percent growth. They mainly ascribe agricultural yields to the growth. The fact that Ethiopia exports items which mainly comprise coffee and gold that currently promises handsome returns in the global market serve a source of optimism pertaining to the vista of opportunists in the sector.
On the other hand, reversing their stance of downplaying our export items prior to the time the pandemic hit ,the 180 degree turn some Arab countries made to import our agricultural yields cognizant such yields are necessities they certainly can’t do without corroborates the case in point.
Parallel to scanning the trade horizon, in the sphere of diplomacy, we have to work hard towards the reopening
of the trade corridors that allow a click with neighbors in trading our yields. With some of them it is possible to conduct transaction with Birr. Discussing with IGAD’s leaders getting the ball rolling is imperative.
If the above option is ruled out, like our forefathers, bartering could not be seen antediluvian. For instance, it is possible to barter electricity for fuel with Sudan. Giving a kiss of life to the trade sector dragging its leg out from a shadowy unfolding is a task the global community could put on the backburner. Specially, heeding the expertise of economists regarding ways of troubleshooting the dearth is a must do for a forward looking leader. Here, it is important to note that it sure is good to review and recast laws and regulations that posed roadblocks on the foreign trade sector. In so doing the tangible situation need to be taken into consideration.
As our Premier Dr. Abiy Ahmed stressed this week on top of our farming plots already there tilling other lands that lay fallow we have to bump up production so as to avert shortage of food which could be in store as a repercussion of the pandemic. Exporting possible surplus yields to neighboring countries we could beef up our economic muscle on top of cushioning the aftermath of Covid-19. Hence closing ranks we have to work better than our best to translate this directive into action.
Also pertinent bodies should be alerted to forestall infestation by grasshoppers as much as citizens have to stay safe from the infection of Covid-19.
Let us roll up our sleeves to turn the tide.
The Ethiopian Herald May 17/2020
