Including the Bahamas, the pandemic has wreaked havoc all across the world. However, the recent report from the world bank is being seen as a ray of hope. A report published by the world bank has appreciated and lauded the Bahamas’ unemployment benefits in Covid-19. Further comminating, the reports said that the country’s policies regarding the unemployment benefits are appreciable, and is one of the few in the region that offers unemployment payments to its citizens.
The report further says that the country is among the few in Latin America that offer these benefits to its citizens. These include Latin America, and the Caribbean (LAC). The job benefits that cater to the requirements of the citizens are rare in the region, and the country’s policies make it more possible.
The report mentions Brazil, Chile, and Uruguay that have a working plan in place. In addition to that, the insurance plan has also been appreciated in the report. Adding further, the reports substantiate that unemployment insurance in Argentina, The Bahamas, Barbados, Colombia, Ecuador, and the República Bolivarian is laudable. Besides that, the reports state that countries like the Bahamas offer unemployment benefits to their citizens, and that is much help in the pandemic.
Earlier, to assess the issue, the government had established the Unemployment Assistance Program, however, was separate from the National Insurance Benefit. Though the pandemic wreaked havoc on the economy, the impact was lessened due to the aggressive policies of the government. Since the advent of the pandemic in 2020, the government of the country had spent $16 million on these programs, $136 million on sponsored unemployment extension, and $97 million on the national unemployment benefit. These developments come as the workers are vulnerable in missing out on various benefits from the government in other countries, however, the world bank report offers insights into the progressive system in the Bahamas.
The report further states that the workers with precarious contracts are more likely to be left out from the income programs. Commenting on Latin America, the report says that only one-third of the countries provide unemployment benefits to their citizens. The report comes after there have been various controversies in the country regarding the honorariums to the frontline workers. Even though the government has promised to reconsider the list of the names that are to receive the payments, the opposition has lashed out at the fact that some of the names were being left out.
In this regard, many of the workers have sicked out to protest the issue. However, the health minister has said that the eligibility is decided by the cabinet, and he will personally take the case to make the team reconsider the names. In another set of developments, the minister informed that he had asked his assistant, and driver to return the payments that they received as honorariums which they have. The report from the world bank is being seen as a positive development and a boost to the confidence of the government.