Economist warns against panic buying over Covid-19 scare [watch]

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Ghanaians have been urged to desist from panic buying and withdrawals in the wake of confirmed cases of the Coronavirus (COVID-19) in the country.

Speaking on Adom TV’s Saturday morning show Nnawɔtwe Yi, lecturer at the Economics Department of the University of Ghana, Dr Adu-Owusu Sakordie, said “though it is important that we prepare, our preparedness should be done moderately.”

Economics Department of the University of Ghana, Dr. Adu-Owusu Sakordie
Dr Adu-Owusu Sakordie

“We need to prepare as Ghanaians in the wake of this outbreak. Now we have three community infections which is very dangerous but that does not mean we should engage in panic buying or panic withdrawal. Let’s prepare moderately but not in panic,” he advised.

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In the wake of the 19 covid-19 cases so far, some Ghanaians have resorted to panic buying and withdrawal.

But, Dr Sakordie said there is no need for panic withdrawal as the deposits of customers would be safe even if the situation gets worse.