Economic slowdown expected for Sierra Leone, Guinea and Liberia

World Bank analysts estimate that if the disease is not contained shortly, problems with food shortages, panic buying and speculation will continue to wrack the already-fragile economies of the affected countries.

A man sells buckets used for washing hands on a street in downtown Monrovia, September 18, 2014. The World Bank has predicted that the Ebola outbreak will cost Liberia $228 million if it is not handled soon. Reuters/ James Giahyue
A man sells buckets used for washing hands on a street in downtown Monrovia, September 18, 2014. The World Bank has predicted that the Ebola outbreak will cost Liberia $228 million if it is not handled soon. Reuters/ James Giahyue

Local governments, foreign states and international organizations have already spent millions of dollars and will require billions to contain the largest Ebola outbreak in history. But these numbers are small in comparison to the economic slowdown expected for Sierra Leone, Guinea and Liberia as commerce grinds to a halt while increasing uneasiness begins to affect the markets.

For example, in the short term, World Bank analysts expect Ebola to cost Liberia roughly $93 million, about 4.7 percent of its entire gross domestic product. By 2015 this could increase to $228 million if the outbreak isn’t stopped soon. They also predict that the country’s economic growth could be reduced from 6.8 percent to -4.9 percent.

World_Bank_Ebola_Econ_Estimates-Sept_20Read complete story at the International Business Times…HERE

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