Global economy will be radically different after coronavirus - Vice President Bawumia

Vice President Dr. Mahamudu Bawumia has predicted a radical change to the outlook of global economy after the coronavirus pandemic.

The deadly coronavirus, which started in China last year, has not only devastated humanity, it has also ravaged economies around the world as countries battle to stop the virus.

Writing on his Twitter account on Friday, Dr. Bawumia predicted the effects of the pandemic will change the global economic outlook.

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

With countries, especially African nations, leading their own unique charge against COVID-19, Dr. Bawumia has also predicted that the experience will make African countries more self reliant, especially in the production of goods and services.

"It will usher in more self-reliance in the production of goods and services. We in Africa have to get ready for this future."

Many respondents to his tweet commended and agreed with the Vice President's tweet.

One of them was economist, Professor Peter Quartey of the University of Ghana, who added that Ghana must position itself and produce a lot of import substitutes.

"Well said Veep," wrote Professor Quartey.

"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," he added.

The post COVID-19 global economic architecture is going to be a radically different one. It will usher in more self- reliance by countries in the production of goods and services. We in Africa have to get ready for this future.

— Dr. Mahamudu Bawumia (@MBawumia) April 10, 2020