Question 1
The world has been hit by the outbreak of a viral disease in the
latter part of 2019 named “novel Coronavirus disease 2019”
(COVID-19). A lot of people in many countries have been infected
leading to loss of many lives and hence necessitating a lockdown by
many countries. This has also stalled economic activities globally.
This viral outbreak has also been declared as a global pandemic by
the World Health Organisation (WHO). Ghana however recorded its
first case of the COVID-19 on March 12, 2020 and the number of
confirmed cases keep increasing with few deaths. The president
therefore thought it wise to declare a lockdown of some major parts
of the country on March 30, 2020 with its attendant effects and he
reopened it three weeks later.
Required:
a. What are the potential trickle down economic effects on the
Ghanaian economy of the global impact caused by the deadly COVID-19
since no country is an island by itself?
b. Discuss the potential economic impact of the COVID-19 on the
economy of Ghana with reference to the following thematic areas:
Gross Domestic Product; Inflation; Government Revenue; Budget
Deficit; Debt level.
c. What is your assessment of the feasibility and practicability of
the fiscal and monetary measures that have been put in place by the
government so far?
d. By looking at the bright side, identify any three economic
opportunities that COVID-19 presents to the Ghanaian economy.
Get Answers For Free
Most questions answered within 1 hours.