THE economic impact of the ebola epidemic could reach $US32.6 billion ($A35.27 billion) by the end of 2015 if the disease ravaging Guinea, Liberia and Sierra Leone spreads to neighbouring countries in West Africa, the World Bank Group says.
THE World Bank’s assessment says the economic impact of ebola is already serious in the three countries and could be catastrophic if it becomes a more regional health crisis.
“With ebola’s potential to inflict massive economic costs on Guinea, Liberia and Sierra Leone and the rest of their neighbours in West Africa, the international community must find ways to get past logistical roadblocks and bring in more doctors and trained medical staff, more hospital beds and more health and development support to help stop ebola in its tracks,” Jim Yong Kim, president of the World Bank, said on Wednesday. He added that the enormous economic cost of the current outbreak to the affected countries and the world “could have been avoided by prudent ongoing investment in strengthening health care systems”. It is far from certain that the epidemic will be contained by the end of 2014, so the report estimated the economic costs of two scenarios as the battle against the disease continues. The report estimated that the economic impact could top $US9 billion if the disease is rapidly contained in the three most severely affected countries, but could reach $US32.6 billion if it takes a long time to contain ebola in the three countries and it spreads to neighbouring nations. The economic impact could be limited if immediate national and international action stops the epidemic and alleviates the fear factor, the report said. Fear about the disease is causing neighbouring countries to close their borders and airlines and businesses to suspend their commercial activities in the three worst-affected countries. The World Health Organisation estimates that ebola has killed more than 3,400 people in West Africa and infected at least twice that many.