fbpx

African countries must be ready for radical change in global economy after COVID-19- Bawumia

BY: Isaac Yeboah
Vice President Dr Mahamudu Bawumia
Vice President Dr Mahamudu Bawumia

Vice President Dr. Mahamudu Bawumia has urged African countries to get ready for a radical change in global economic outlook after the COVID-19 pandemic.

Writing on his twitter page, Dr. Bawumia predicted that the impact of the Coronavirus pandemic will have a major impact on economies and asked countries, particularly Africans, to get ready.

"The post COVID-19 global economic architecture is going to be a radically different one," the Vice President wrote on Twitter.

Many countries have been largely self-reliant in managing the devastation of COVID-19, and Dr. Bawumia also predicted that many countries will even be more self-reliant in the production of goods and services after the eradication of the virus.

"It will usher in more self-reliance in the production of goods and services," he said.

Dr. Bawumia also urged African countries to be ready for the new order.

"We in Africa have to get ready for this new future."

The Vice President's tweet attracted many reactions from economists, who agreed with his observation. commended and agreed with the Vice President's tweet.

"Well said Veep," Professor Quartey of the University of Ghana responded.

"Ghana certainly has to position itself and produce a lot of import substitutes. The small business soft loans to be administered by NBSSI can make a lot of difference if it is well targeted and given to deserving businesses," added the economic Professor.

Broadcaster, Richard Dela Sky also tweeted his agreement to Dr. Bawumia's prediction, adding that Africa nations must get to work immediately.

"This tweet from @MBawumia is so true that we must get to work already," tweeted Richard Sky.

"Every country [that knows what time it is] is turning to its own people and industries to crank up the process of restoring the health of their economies and the future of their people. We MUST too."