S2.E5: New Year, Same Gloomy Outlook?

The Big Issues

The economic outlook for the start of the year 2022 looks promising to some but bleak to others. So in this episode we ask: Will the first quarter of the year will bring change for better, for worse, or more of the same? This programme first aired on NewsCo Observer Radio 91.1 FM on January 9th, 2022.

The host is Kieron Murdoch. The guests are:

1. Everett Christian, a retired banker with a long history as a revenue reform administrator. He is also a former President of the Chamber of Commerce and Industry Limited's board of directors, and former Chairman of the Social Security scheme's board of directors. He is presently a management and financial consultant.
2. Patrick Ryan, an Antiguan and Barbudan businessman. He is the Managing Director of George W. Bennet Bryson and Co. Ltd, as well as the principal of a number other businesses such as the tour company Tropical Adventures.
3. Petra Williams, an economist and statistician by training. She is also a business management consultant.
4. Vernon Jeffers, Managing Partner of Jewels Management & Consultancy Inc, and the current Executive Chairman of the Antigua Barbuda Hotel & Tourism Association (ABHTA). His career in the tourism industry includes senior management roles at the Sugar Ridge Resort, the Jolly Beach Resort and the St. James’ Club, to name a few.

More Background:

The last twelve months have seen fluctuations in our economy in line with the effects of adapting to COVID-19. But many hoped that 2022 would be different. Many hoped that with vaccination providing for higher level of immunity in the population, that economic affairs could expand with confidence. In the hotel sector especially, all parties looked to 2022 with promise - certainly with better expectations that 2021. But already there are rumblings in that sector - which provides so much employment at various levels - that cancellations are an immediate concern. It reflects the volatility in our traditional source markets.

In general, businesses found 2021 and 2020 to be crippling years in many respects. Many closed their doors, changed their trade, laid off staff, and saw their debts grow. And for those who had been left without work, finding employment became far more difficult in a pandemic economy, constantly frightened by curfews, work stoppage, and partial business closure. Meanwhile, the government made it quite clear throughout the last year, that it was working with far less revenue than ever before. Many public obligations suffered as a result.

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