The financial meltdown which caused the recession of 2008 to 2010 was triggered by shocks in the banking system. In fact, many economic downturns in the past such as stock-market crashes and debt defaults, had financial-system origins but the current recession which has also hit Ghana is different as it was triggered by a global pandemic which has impacted governmental budgets whiles economies and societies are still struggling with appropriate responses, impacting financial markets adversely.