World Bank Says Ebola’s Spread May Have Catastrophic Cost

Monday, September 22, 2014
By Paul Martin

By Matthew Hill and Elena Popina
Sep 22, 2014

The World Bank warned that the economic costs of the Ebola outbreak in West Africa will escalate to “catastrophic” proportions if the virus spreads, while Ghanaian President John Dramani Mahama criticized the international response to the disease.

“If other countries in the vicinity in the subregion of West Africa fail to do what Nigeria and Senegal have done — which is to keep things under control — then the costs will become much much larger,” Francisco Ferreira, World Bank chief economist for Africa, said in a Sept. 19 interview in Lusaka, Zambia’s capital.

The spread of the virus may cost Guinea, Liberia and Sierra Leone, the three nations where most infections have taken place, as much as $809 million, the World Bank said on Sept. 17. Early findings of the lender’s research into the economic risks of the disease spreading to other countries show the damage could be more severe, he said.

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