Serious hospital
deficiencies forced the government in Peru and in all Latin American
countries to enact a radical quarantine, which led to a serious loss of
economic activity, jobs, income, with profound recessive effects. Quarantine
equal to recession; as explained in the interview to the author of this blog on
Canal Cable Vision of Trujillo, broadcast on Friday 17.4.2020, (see interview
here)
It is more:
the desperation by the lack of income causes that many citizens are ignoring
the quarantine.
Tertiary
sectors, such as tourism (hotels and transportation), gastronomy, commerce, and
all kinds of services, such as hairdressing salons, cinemas, shows, in which
millions of Peruvians are employed, even as independent and informal, will have
a greater plummet, than not it will be mitigated by the government's timid
monetarist approach measures, including:
• Release of
funds to be channeled to companies via commercial banks,
• Cash bonds
of close to US $ 110 per family for 3.5 million vulnerable families, in addition
to delivery of grocery baskets;
• Reduction
of the reference interest rate of the
Central Bank,
• Facilities
for companies to temporarily fire servers;
Skewed,
recessive and insufficient,
compared to what should be done, and that makes us waste precious time.
Measures that could not be extended if the health crisis continues.
What are the
ultraliberal apostles saying now that they said that tourism and services in
general could support an entire nation? The opponents of all kinds of industry
and infrastructure? The promoters of indiscriminate importation and the
gravediggers of protection for the national industry? The fiscal austerity
gurus responsible for a $ 19 billion health infrastructure gap in a single
country?
We have
witnessed, as Peru has not been able to solve with internal production the
vital need for mechanical respirators, anti-COVID test kits; medicines, and
means of sanitary protection, which are not produced in Peru. Several
universities and the armed forces offered to manufacture them, demonstrating
the technical feasibility of doing so, but with the obvious time constraints,
input supply, and productive capacity.
The world
will live in what follows, if it is to survive, a total change of political and
economic paradigms, with an emphasis on producing livelihoods for the
population, ending the exorbitant privileges of the speculative financial
sector, and leading to an industrialization and recovery, FD style Roosevelt,
as the Schiller
Institute has put it for 4 decades, and recently the President of Mexico,
Antonio Manuel López
Obrador.
04/19/20
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