Tit-bits on Impact of Covid-19 on Businesses and Economy
- Ghana has been named among 5 other countries to possibly face debt distress due to the virus outbreak. The current debt burden coupled with the slump in oil revenues are the factors.
- Ghana’s parliament debate on whether to ‘dip their hands’ to the Heritage Funds to fight COVID 19. The minority in opposition disgrees with the proposal.
- The UN suggests that the Coronavirus pandemic could cost Africa US$200 million and 50% of jobs could be lost as part of Covid-19 impact
- Covid-19 outbreak could cost Ghana GHS9.5 Billion according to the Minister of Finance
- The Finance Minister has announced that Ghana would lose GHS5.7 Million in petroleum revenue due to the Coronavirus pandemic. GNPC would receive GHS642 Million less than what was originally ecpected
- Partial lockdown of some Ghanaian cities starts today. Military and other security agencies engaged to ensure compliance
- The Chief Executive Officer of the Association of Ghana Industries, Mr Seth Twum Akwaboah, is calling on banks and the other financial institution to provide stimulus packages to businesses in the country. This is as a result of the covid-19 pandemic which is hitting businesses hard.
- International oil prices have fallen into an 18-year low, US$22.7 per barrel for the Brent Crude.
- The tourism industry continues to reel under the searing heat of the coronavirus pandemic.
- Players in the beauty industry close down their businesses
- It has emerged that Virgin Atlantic is expected to seek a bail out worth hundreds of millions of pounds from the British government. Other Airlines may also follow suit.
- There are now more than 730,000 infections globally and almost 35,000 deaths bringing mortality rate to about 4.7%
- Spain has reported 812 new deaths, taking the national total to 7,340
- New dates for the Tokyo Olympics have been announced: 23 July to 8 August 2021. Olympic games should have been held in June – July 2020 but has been postponed to the newly announces dates
