Ebola Could Cause ‘Economic Collapse’ Guinea’s President Warns
By Neanda Salvaterra
WSJ.com
Oct 1, 2014
Guinea has been more successful in containing the Ebola epidemic than its immediate neighbors in West Africa, but the loss of revenue caused by the crisis has left the country in dire financial straits, President Alpha Condé said after concluding a round of meetings at the United Nations General Assembly.
Mr. Condé said Guinea would need about $100 million until December to cover its budget gap, which will grow if Ebola is not tackled by the end of the year.
“The slowing down of our economies due to Ebola requires that most of our countries get some budgetary support … it’s going to be crucial that we get that support so our economies don’t completely collapse,” he said.
Mr. Condé’s statements followed an announcement by the International Monetary Fund that it had approved a $130 million expansion of zero-interest loans that would be divided among Guinea, Sierra Leone and Liberia, the West African nations hit hardest by the Ebola crisis.
According to the World Health Organization, Guinea is faring slightly better than its neighbors. The organization has said that the country has seemingly been able to stabilize the rate of the infection.
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