Coronavirus: It will take 23 months for employers to recover - Kotei

The Ghana Employers Association (GEA) has hinted it will take them 23 months to recover from the impact of the deadly coronavirus in Ghana.

This was disclosed by the General Secretary of the Industrial and Commercial Workers Union (ICU), Mr. Solomon Kotei in an interview with Rainbow Radio.

Mr. Solomon Kotei disclosed to Kwabena Agyapong that GEA has presented a request to the government demanding for a ”special package” to mitigate the impact of the deadly virus.

Mr. Kotei stated that for businesses to be able to step up from the outbreak, the government must give them a special stimulus package.

He said as companies respond to the COVID-19, the government must support them to protect employees.

The International Labour Organisation (ILO) has called for a swift and coordinated policy responses at national and global level, with strong multilateral leadership, to limit the direct health effects of COVID-19 on workers and their families, while mitigating the indirect economic fallout across the global economy.

According to them, the crisis has already transformed into an economic and labour market shock, impacting not only supply (production of goods and services) but also demand (consumption and investment).

ILO also said labour supply is declining because of quarantine measures and a fall in economic activity.

Overall losses in labour income are expected in the range of between 860 and 3,440 billion USD.

The loss of labour income will translate into lower consumption of goods and services, which is detrimental to the continuity of businesses and ensuring that economies are resilient.