Tuesday, May 26, 2020 - 09:00 Leo Olivero

Covid-19 has increased financial woes of many!

Following my Panorama report last week on how the pandemic has seriously affected world economies including our own; today’s focus is directly related on how the Covid pandemic is financially affecting the citizens of the world. It’s also where many in Gibraltar have really felt the catastrophic financial Covid effects to their everyday lives!

As highlighted yesterday, the pandemic is not over yet. But globally, it’s already cost a record number of jobs, including many in Gibraltar since the killer virus took hold of the world.

Many Asking Those First of the Month Scary Questions?

A growing number of people are asking that first of the month scary question rooted in their minds: ‘How will I pay my bills and put food on the table’. Unfortunately, many households were unprepared for the swift financial Covid blow. Not everyone, in fact far from it, have enough cash or savings to cover public health emergency expenses!

Financial emergencies, can happen to anyone and at any time. You don’t need a pandemic to find yourself in financial hole. It can happen because of a family illness, job loss, some urgent home repairs. But some events, can even shut down nations and communities for an extended period. Exactly, what Covid-19 has done worldwide!

Gibraltar is not a ‘Land of Milk and Honey’ For Everyone

In many cases events like this instantly puts a bad situation into a chronically harrowing one.

Gibraltar is not a ‘land of milk and honey’ for everyone, far from it. I penned a Panorama report earlier in the year in February, before Covid became globally airborne, where I said:

“In these so-called times of plenty, where we hear the frequent unprecedented calls and regular reminders of economic growth and of the widespread feel-good factor. It would be easy to overlook even ignore, the increasing number of social problems. Some, literally, threatening beneath the surface! Yet reality often throws up situations that serve as wake-up calls. Especially, when the so-called feel-good factor mood does not accurately transmit to the public how life in Gibraltar truly is or has become. Like for those people who living in squalor; the abuse of children and adults; the increase in poverty and social exclusion and domestic violence; bullying and the situation with the chronic local drug problem. There are more, of course”.