Sep 22, 2014

World Bank: Ebola Will Have 'Catastrophic' Economic Impact

breitbartThe World Bank has issued a report warning against a "catastrophic" economic impact on the West African countries of Guinea, Liberia, and Sierra Leone's already fragile economies if they do not put a stop to the spread of the deadly Ebola virus. 

Two different scenarios were reportedly analyzed by the World Bank to calculate the estimated $809 million in damages the three nations would suffer by the end of 2015, according to a report the World Bank published on Wednesday:

A "Low Ebola" scenario envisions rapid containment within the three core countries, while "High Ebola" corresponds to the upper ranges of current epidemiological estimates.

The World Bank also cited "aversion behaviors driven by fear of contagion," including the tendency for people to drop out of the work force to seek refuge from the deadly hemorrhagic (or bleeding out) virus reportedly were also part of the calculated costs. These individuals ditching employment were cited as in great part fueling the damaging economic impact said "fear factor" would have over the population.

Speaking on behalf of the World Bank Group, President Jim Yong Kim noted that while "the primary cost of this tragic outbreak is in human lives and suffering," the widespread economic impact the disease would have could be equally, if not more, crippling. "Today's report underscores the huge potential costs of the epidemic if we don't ramp up our efforts to stop it now," Kim said. 

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