Gov’t Maintaining Decision to Dispense with Lockdowns as Part of COVID-19 Safeguards

• During the press conference held on Sunday, January 9, 2022, the Prime Minister, the Most Hon. Andrew Holness assured the public that the Government will no longer be resorting to lockdowns as part of strategies to contain COVID-19 transmission. 
• This sentiment by the government should relay a positive signal to businesses as the absence of lockdown days means fewer disruptions to business activity.  It also signals to the public that while COVID-19 carries with it risk, broader vaccine availability and continued medical innovation should limit the impact of this and future outbreaks. 
• With that said, each subsequent “wave” is expected to have less of an impact on consumer behaviour, financial markets, and the overall economy, as vaccine access and uptake become more widespread. Furthermore, businesses and households are expected to continue to look for ways to sustain their activities as they adapt to the new normal, given that COVID-19 will not disappear completely anytime soon. 
• It is our view that rising caseloads in 2022 will not curtail economic activity to the same extent as in 2020 or early 2021. The lessons of the past two years have equipped governments and corporations to better manage outbreaks. These lessons, coupled with higher vaccination rates are unlikely to warrant extreme measures, such as complete border closures in 2022.

(Source: JIS and NCBCM Research)