Business

Economic recovery must be well planned: Tinio

December 23, 2021 3:30 am

Ariel view of Suva City. [File Photo]

Countries around the globe including Fiji will learn to live with the coronavirus and look at new adaptation plans.

Asian Development Bank’s Pacific Associate Economic Officer, Cara Tinio, says this may hinder economic progress but countries must have contingency plans to cushion the impact to some extent.

Tinio says the past trend shows that more new variants of coronavirus may emerge in the future, therefore, ADB suggests that economic recovery must be well planned.

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“At this point, we are in the wait-and-see mode to know more especially about this Omicron variant that just emerged. We need to see what sort of impact if any it will have. The best thing we can do right now is to continue monitoring the situation and be prepared for any contingencies that might arise.”

The Omicron variant has been described as transmissible with a high number of cases recorded in European states.

Many countries have already imposed travel restrictions, while Fiji has stepped up its preventative measures.

ADB believes the Fijian government’s move to reopen the international border is the most prudent way to address economic issues.