Effect of corona measures on the economy is already noticeable

WILLEMSTAD - “Our terrace and restaurant are closed. We only have take out. In this way we can at least keep some staff at work,” says Thijs de Bruin, co-owner of the popular Café De Buren on Wilhelminaplein.

De Buren is one of the catering establishments that was forced to close the restaurant section due to the measures taken by the Curaçao government against the spread of the coronavirus. "How long we can do this without the help of the government is still unclear to us."

The effects of the measures are already noticeable. Corinda de Mooij can talk about this. She works as a diving instructor at the Scuba Lodge. It is not certain whether her contract will be extended. “It is all still unclear. I have a contract until April 11 and they probably won't be able to renew after that.”

Because no work means no income, she tries to go back to the Netherlands, but that is not possible because she is a resident of Curaçao. The borders are closed to residents of Curaçao, she has no choice but to wait for this crisis on the island, without work, income and no prospect of a new job.

The Handelskade, where normally many tourists can be found, is now almost empty. Restaurants have closed their doors, a few, such as De Buren, are still open for take-out. Most retailers have also closed their stores as a precaution for the safety of customers and employees.

"We cannot measure the effect yet," says Carine Ghazzi, director of the retailer association Downtown Management Organization (DMO) in Punda. But it is clear that this will have a major impact on local business owners, she says.

“The most painful consequence will be the effect on the jobs that will be lost. Due to the uncertainty of how long this situation will last, it is very difficult to make statements about it now,” says Ghazzi.

The business owners are happy with the initiatives that have been quickly set up by the banks to ease the pain among them. Last week, several banks including Maduro & Curiel's Bank (MCB), Orco Bank and Banco di Caribe announced that they will allow their customers to defer installments for personal loans and mortgages for up to three months.

MCB director Michael de Sola has indicated that people who live in a rental home who are no longer able to pay their rent due to the crisis can apply for additional overdraft. In this way, the MCB tries to accommodate its customers.

The government has presented a package to stimulate the economy and mitigate the consequences of the measures against corona.




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