Latest Ebola News: World Bank trims estimate; Guinea, Liberia, and Sierra Leone continue to bear heavy cost

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Written By: Agencies | Published : January 21, 2015 10:34 AM IST

Washington, Jan 20: The World Bank trimmed its estimates of the economic damage of the Ebola epidemic today, but warned that the three main affected countries would still bear a heavy cost. After warning last October that the outbreak, which has killed more than 8,600, could wreak USD 25 billion in economic losses across all of West Africa, the bank said that with Ebola now broadly contained, the toll could run to USD 6.2 billion. (Read: Latest Ebola News: World Bank appreciates G20 leaders commitment to fight Ebola)

However, the epidemic 'will continue to cripple the economies of Guinea, Liberia, and Sierra Leone even as transmission rates in the three countries show significant signs of slowing,' it said. For those three countries, where most of the infections and deaths have been recorded, the losses from foregone economic growth could hit USD 1.6 billion this year, less than the previous USD 2 billion warning the Bank gave. (Read: Latest Ebola News: Mark Zuckerberg donates $25 mn for fight against Ebola virus)

The Bank credited the actions of policymakers and aid workers to stem the spread of Ebola, lowering the risk that it would spread across the borders from the three hard-hit countries. 'The lower estimates also reflect fast and effective containment measures taken in the neighboring countries of Mali, Nigeria and Senegal, all of which have now been declared Ebola-free,' the Bank said. (Read: Latest Ebola News: Microsoft contributes USD 100 million to Ebola fight)

In the best case, it added, the impact on the whole region could be as low as USD 500 million, it added.'As welcome as these latest signs are, we cannot afford to be complacent. Until we have zero new Ebola cases, the risk of continued severe economic impact to the three countries and beyond remains unacceptably high,' said World Bank president Jim Yong Kim.

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Source: PTI

Photo source: Getty images


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