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Covid-19: Economist advises using savings as a key strategy for households to have liquidity

Praia, Jun 10 (Inforpress) – The economist António Baptista advised the use of savings as a fundamental strategy for families to have liquidity, mainly to deal with crises that are never foreseen.

António Baptista, who is president of the Association for the Promotion of Financial Education, told Inforpress that in Cabo Verde there is great difficulty for people to save money, clarifying that this trend “is not associated with low income”.

Invited to assess Cabo Verdean’s ability to use savings in times of crisis, the economist explained that with this pandemic situation, the need for this strategy became clear, because people “were not careful”, which harmed income from the less attentive.

As he pointed out, saving is one of the aspects that improves the resilience of families, but unfortunately, in the country this practice has not been taught.


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