Friday, October 8 2021

Abosey Okai spare parts dealers have expressed fears of out of stock if the spread of the novel coronavirus continues.

According to Clement Boateng, the national organizer of the Ghana Traders Union, most spare parts and other import goods used in Ghana are imported from China, hence the fears.

“Things like medicines, spare parts, clothes and even herbal medicines come from China. So if the situation continues, we are going to run out of herbal medicine in this country.

“Everything is out of stock and if God doesn’t intervene, things are going to get out of hand. This will probably lead to price increases, ”he told Francis Abban on the Morning Starr on Tuesday.

He said traders are now considering other routes to import their goods as the virus outbreak in China does not appear to be abating. He also supported the claim that the stability of the local currency is partly due to the onset of the disease.

Meanwhile, stocks around the world fell for a fifth day amid growing concern over the coronavirus outbreak.

In London, the FTSE 100 index of the largest companies, usually multinationals, fell 1.1% at the start of the session, reflecting similar declines in other European markets.

In Asia, the Japanese Nikkei 225 index lost 0.8% and the Hong Kong Hang Seng fell 0.7%.

It comes as large companies warn they could suffer big losses as the virus spreads.

Stock markets faced turbulent days, with the FTSE 100 hitting a 12-month low on Tuesday and major US indices losing more than 3% overnight.

Instead, investors fled to safe-haven assets like gold, which hit $ 1,650 an ounce on Wednesday – near the seven-year highs seen earlier this week.

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