The Effect of covid19 pandemic on the world economy is disheartening. Most especially the working class and people living at the grassroot level have suffered financial setback while some have loose their jobs. Even though, there is a partial lockdown in some countries, there are some companies or institutions that are not allowed to reopen and as a result forced them to relief their employers because they can no longer pay.
Another impact of Covid19 on the economy is the GDP. The current status of many countries GDP is below 3% growth. The third world countries have experienced a lot of setback because they have little in the reserve. Even before the outbreak of Covid19, some countries have borrowed from the world bank's loan. Now that covid19 have ravaged their bilateral relationship with other countries, they have to no choice but to borrow more.
Thirdly, one of the institutions covid19 pandemic has really affected is the educational institutions. For the past 2 to 3 months ago, students have not been to the class. This has really affect their education. The WAEC ( west African Examination Council) have been forced to postpone their exam because it cannot hold out the classroom. Although, Students have been taking online but the reality is that, it can not work.
In conclusion, the world needs more prayer to breakthrough this covid19 pandemic chain. We also to take more precautions against the spread of Covid19. If we noticed that we have the symptoms, we should report to the necessary quarter. We should wash our hands with sanitizer, use our face masks when living and maintain social distancing in every gathering.
STAY SAFE!!!!!
