A failure, she is down and looking dejected and having so much rejections. There are periods of inactivity in our life when it feels like your Business, Career, and Ministry have become so slow and almost no result to show for it. Economies are currently going through it According to ChatGPT 2023, The COVID-19 Pandemic (2020-present): The outbreak of the coronavirus led to widespread economic shutdowns, travel restrictions, and disruptions in supply chains. Many countries experienced sharp contractions in GDP, high unemployment rates, and disruptions in various sectors.
Greece: During the European Debt Crisis, Greece was one of the hardest-hit countries. It faced a severe economic downturn, with a significant decline in GDP, high unemployment rates, and disruptions in sectors like finance, tourism, and real estate.
2. Spain: Spain also suffered significantly during the European Debt Crisis. It experienced a sharp contraction in GDP, a surge in unemployment rates, particularly among young people, and disruptions in sectors like construction and banking.
3. Argentina: Argentina has faced numerous economic crises, including the one in 2001-2002. It witnessed a massive contraction in GDP, high unemployment rates, and disruptions across various sectors, leading to social unrest and political instability.
4. Venezuela: Venezuela has been facing a severe economic crisis for several years now. It has seen a sharp contraction in GDP, hyperinflation, widespread shortages of basic goods, and soaring unemployment rates, resulting in a deep humanitarian crisis.
5. South Africa: South Africa's economy has struggled in recent years, with slow economic growth, rising unemployment, and disruptions in sectors such as mining, manufacturing, and agriculture.
These are just a few examples of countries that have experienced sharp contractions in GDP, high unemployment rates, and disruptions in various sectors. The causes and impacts of economic crises can vary, but they often result from a combination of internal and external factors, such as mismanagement, political instability, external shocks, or economic imbalances.
Great Britain is about to enter a recession with rising interest rate, inflation, unemployment rates, economic growth, and financial stability concerns. On Thursday 3 August 2023, Bank of England, the Central Bank of United Kingdom raised the interest rate (Bank Rate) by 0.25 percentage points to 5.25%
The current report coming from Nigeria on fuel price increase, and inflation. Bloomberg source reports, Nigeria raised interest rates for an unprecedented seventh consecutive time to dampen inflation and support the naira, and signaled it’s prepared to hike further after research showed the increase in borrowing costs is yielding results.
When economic activities slow down it is an opportunity for social ills to increase such as Poverty, unemployment, unequal opportunity, racism, and malnutrition . Likewise are substandard housing, employment discrimination, and child abuse and neglect. Crime and substance abuse are also examples of social problems.
This is the case in so many parts of the World.
What to do during period of slow economic activity?
From the bible John 21:6
New International Version
6 Jesus-Christ said, “Throw your net on the right side of the boat and you will find some.” When they did, they were unable to haul the net in because of the large number of fish.
1. Change your Strategy. This is the time to go back to your vision board and review those diagrams and commitments taking you to where you need to be. Strategy is what you do to arrive at your destination.
It is time to seek advice from an expert on life matters like a life coach, an economist, a mediator, an accountant, A doctor and other notable professionals who are knowledgeable and understand your problem. They can help you change your strategy to suit your solutions.
2. Be Attentive and Listen:
During periods of economic inactivity when you seek solutions, you must listen to advice and be attentive. What are the instructions from the expert is he asking you to do things differently from the usual norm you have known.
3. Increase Your Faith: It is not time to doubt when you have approached an expert who can help you solve your problems. Do not dwell on your problems but focus on the solutions.
4. Prepare for the period of abundance and results.
When you begin to change your strategy, being attentive and listen. Also Increasing your faith you will get tremendous results. You must make the necessary adjustments financially, and prepare for a monkey pot where you can make returns on the extras.
For example
In the treasury department, excess funds are typically stored in different financial instruments or accounts to ensure liquidity and security. Some common options for storing excess funds include:
1. Banks: Treasury departments often maintain relationships with multiple banks and may place excess funds in interest-bearing bank accounts. These accounts may include checking accounts, savings accounts, or money market accounts.
2. Certificates of Deposit (CDs): Treasury departments may invest excess funds in CDs offered by banks. CDs typically offer higher interest rates than regular savings accounts, but funds are locked in for a specific period, such as three months to several years.
3. Government Securities: Treasury departments may invest excess funds in government securities issued by the government, such as Treasury bills (T-bills), Treasury notes (T-notes), or Treasury bonds (T-bonds). These securities are considered low-risk investments and can be easily sold in the secondary markets if needed.
4. Repurchase Agreements (Repos): Treasury departments may enter into repo agreements with financial institutions to invest excess funds. In a repo, the treasury department sells a security to an institution and agrees to repurchase it at a higher price at a later date. This serves as a short-term collateralized loan, providing an investment option and generating interest income.
5. Money Market Funds: Treasury departments may invest excess funds in money market funds, which are mutual funds that invest in short-term, highly liquid securities like Treasury bills. Money market funds offer stability, diversification, and potential higher yields than traditional bank accounts.
It is important for treasury departments to carefully manage excess funds to optimize returns while considering factors such as liquidity requirements, risk tolerance, and regulations.
The period of abundance is the time to prepare for economic inactivity.
