[Featured]: The economic impacts on the world’s pandemic, the case with Ghana

The fight is not among civilians, the judiciary or the government, the fight is against humanity and the novel Coronavirus(COVID-19)

A Nation divided against itself can never stand- Abraham Lincoln.

“We are not here merely to make living. We are here to enable the world to live more amply, with greater vision, with a finer spirit of hope and achievement.

We are here to enrich the world, and we impoverish ourselves if we forget the errand.”- Woodrow Wilson“`

“It could take three years for the US economy to recover from the novel coronavirus” according to the World Economic Forum.

Is that the case with Ghana?

No investors are willing to trade on the stock market because the return on investment is down. Ghana is suffering in terms of goods, incomes and tax revenue from a dependable trade partner. Also, Ghana’s monetary components like merchandise trade, foreign reserves, services, and unilateral transfers are bound to suffer.

It has affected both sides of the economy; supply and demand. The supply of goods and services is impaired because factories and companies in some affected economies are shut down and output falls as a result.

The demand for other commodities is also falling because many consumers stay at home and stop spending, also businesses and investors have postponed production and investment.

LIGHT AT THE END OF THE TUNNEL, GHANA?

In the situation of aggregate demand and supply shocks COVID-19 results, Central Bank has included measures to remove supply constraints and has to explore different strategies on macroeconomic outcomes, indicators and financial sectors which will help the average citizens.

However, the Agriculture Sector through the Ministry of Agriculture has also outlined measures to mitigate and help curb hunger that is bound to be confronted, which will help the country. We also plead on the government to prioritize on the One District One Factory(1D1F).

Secondly, the dollar- Cedis rate will depreciate as compared to previous weeks and will gradually come down because of our less importation of goods and services.

Moreover, several analyses have also proven that Ghana’s unemployment issues will come down, as a result of making more pharmaceutical companies, agricultural sector becoming relevant in the economy, hence employing more citizens in the sector.

Furthermore, Ghanaians are relatively making good use of their locally produced products which is going to help the economy, eventually, we will gain foreign reserves as we become competitive advantageous.

Eventually, Ghanaians are gradually adapting to positive socioeconomic growth and better hygiene which will go a long way to better our health and less our spending on hospital bills.

Ghanaians are becoming very meticulous about our health issues.

That’s Great Ghanaians!.

Lastly, animals and other living creatures keep asking, has Humans forsaking their Human rights?

The Climate is reviving from the immense depleting over the decades.

Almost the whole world halt production amidst this period and is bringing back our lost Climate and ozone layers.

Oh Yes!, We shall Overcome and this too shall pass away.

STAY HOME AND HAVE A GREAT MONTH OF HOPE!.

By Master Osei-Fosu Solomon (OFS)