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Coronavirus Will Lead To Shortage Of All Type Of Goods-GUTA Hints.

The Ghana Union of Traders (GUTA) has told that the impact of the deadly coronavirus will affect the importation of all goods imported into the country.

Welfare Officer, Benjamin Yeboah, said, the impact will not affect spare parts but all that goods imported into the country.

According to him, goods such as drugs, spare parts, clothes, and even herbal medicines come from china, and the importation of these goods would be affected.

He emphasized if the case continues, we are going to run out of herbal medicines in this country.

Mr. Yeboah traders are now contemplating other routes to import their goods since the virus outbreak in China does not appear to be easing down.

Meanwhile, Finance ministers from the G7 group of nations have said they will use “all appropriate policy tools” to tackle the economic impact of coronavirus.

The Bank of England boss Mark Carney on Tuesday noted that the virus could produce a “large” but temporary hit to UK growth.

According to the BBC, Central bankers and finance ministers from Canada, France, Germany, Italy, Japan, the UK and the US held a conference call on Tuesday, led by US Treasury Secretary Steve Mnuchin and US Federal Reserve boss Jerome Powell.

“Given the potential impacts of Covid-19 on global growth, we reaffirm our commitment to use all appropriate policy tools to achieve strong, sustainable growth and safeguard against downside risks,” they said.

“Alongside strengthening efforts to expand health services, G7 finance ministers are ready to take actions, including fiscal measures where appropriate, to aid in the response to the virus and support the economy during this phase.

“G7 central banks will continue to fulfill their mandates, thus supporting price stability and economic growth while maintaining the resilience of the financial system.”

The Organisation for Economic Cooperation and Development (OECD) has also warned that the global economy could grow at its slowest rate since 2009 this year because of the virus.

By: Rainbowradio.

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