Coronavirus presents one of the most difficult problems that we, as a species, had to face in recent history. From handing the spike in medical emergencies to managing large scale pandemic strategies. Not to mention all the economic issues that are brought in with travel bans and mandatory curfew. And, while some disasters you could avoid by moving to Panama, this is not one of them. So, what is Panama doing to tackle the coronavirus outbreak? Furthermore, how is COVID-19 going to affect the economy and real estate in Panama? Well, that is what we are here to find out.
Understanding the current state of the coronavirus outbreak
To better understand how Panama is going to tackle the coronavirus outbreak, we first need to understand what the virus is like. After all, it is fairly new. And even though countries like China and Italy have been through a lot and have a ton of knowledge and experience to share, we still don’t have a full understanding of COVID-19. This is why the best course of action is for Panama to model its response after countries that are or were in a similar situation.
What we know about the coronavirus, so far
The biggest problem with coronavirus is that it is quite easy to spread. Even with minimum contact, you can easily spread COVID-19 to anyone near you. This is why most countries banned travel and relocation. And, why if you had plans for moving, you should sit tight for now and do further research on sites like State to State Move. Ideally, you should practice social distancing and keep a strict hygiene routine. Do that, and we will see this outbreak through without any long-lasting healthcare issues.
What we are hoping for
What Panama and all the other realistic countries are hoping for is a slow coronavirus outbreak. True, everyone dreams that the outbreak in their country will not affect much more then a couple of dozens of people and that it will last for a week or two. And that is precisely what all the leading experts are telling us WON’T HAPPEN. The coronavirus is going to be here for a while, and the best hope is that our healthcare system will be enough to take care of those that are most ill. And the only way that this will be possible, is if we have a slow outbreak.
The only way to tackle the coronavirus outbreak is to give healthcare workers as much time as possible to manage it.
How will Panama tackle the coronavirus outbreak
To help contain the spread of coronavirus, Panama has taken certain measures. Although some of these measures might seem extreme, we need to take into account how easy it is to spread coronavirus and how necessary it is to contain it. Some of the instated measures are:
- Suspension of all flights.
- A 24-hour quarantine (you can leave to get medicine or food, but you can only do so at certain periods determined by the last number of your personal ID).
- Ban of all alcohol sales.
- Panama’s government is regularly cleaning the city and disinfecting the necessary areas.
- Only key businesses (groceries, pharmacies, and certain government agencies) are open with hours changing daily.
Since there is a suspension of all flights to and from Panama, tourism and relocation are almost impossible. So, if you have moved away from Panama and if moving back to your home country is something that you wanted to do in the near future, you will have to wait. But, the important thing to note is tourism. Just consider that tourism brings in $1.4 million dollars annually to Panama, and you will soon see why this is such a large problem. There are certain measures, like banks giving 4 months of relief period, that are going to help recover from this economic stagnation.
When it comes to real estate, there are a couple of things that you need to know. First, all rentals and sales are suspended. Even short term rentals are put on hold. Also, due to the quarantine, no real estate company can show the property in person (not that they would have anyone to show it to). Rest assured that we are still providing our online service to all of our clients and that we will continue to do so from home throughout the outbreak.
Since the people of Panama are going to experience an economical hit during this period, the government has instated certain alleviations that should make this period a bit easier. Power companies are offering a 50% discount on the next bill. Furthermore, they will not cut anyone’s power off for the next 90 days due to non payment. Banks are waving interests and delaying payments for a term of 4 months. And you even have cable companies that are offering free movies. The biggest alleviation should come from the government implementing certain measures of financial relief. The way in which people will use this relief is through their cedula ID, where they will use it as a makeshift debit card. Due to the recent growth of Panama’s economy, we should expect these measures to come into fruition soon.
The main thing to keep in mind now is that we have to keep this outbreak at a minimum. We should all adhere to government regulations and pleads in order to both contain the outbreak and keep our economy going as much as possible. While there are around 980 confirmed cases of coronavirus in Panama right now over a 21 day period, the measures put forth by the government have brought the contagion to a lower levels in recent days. What’s more, emergency hospitals are being built at a quick rate, completing in only 30 days to attend the sick.
All things considered, the aftermath of the COVID-19 outbreak is going to hard. But, the government of Panama is doing the strict measurements in order to tackle the coronavirus outbreak. Our sole goal now should be to help our healthcare workers keep our nation healthy and to contain the spread of the virus. After this blows over, we will have ample time to recover our economy and to bring back the money lost from tourism and business.