A World Bank Group analysis of the Ebola epidemic released Wednesday finds that if the virus continues to surge in the three worst affected countries – Guinea, Liberia, and Sierra Leone – its economic impact could grow eight-fold, dealing a potentially catastrophic blow to the already fragile states.
However, the analysis finds that economic costs can be limited if swift national and international responses succeed in containing the epidemic and mitigating “aversion behaviour” – a fear factor resulting from peoples’ concerns about contagion, which is fuelling the economic impact.
World Bank Group President Jim Yong Kim said, “The primary cost of this tragic outbreak is in human lives and suffering, which has already been terribly difficult to bear.
However, the analysis finds that economic costs can be limited if swift national and international responses succeed in containing the epidemic and mitigating “aversion behaviour” – a fear factor resulting from peoples’ concerns about contagion, which is fuelling the economic impact.
World Bank Group President Jim Yong Kim said, “The primary cost of this tragic outbreak is in human lives and suffering, which has already been terribly difficult to bear.
“But our findings make clear that the sooner we get an adequate containment response and decrease the level of fear and uncertainty, the faster we can blunt Ebola’s economic impact.”
“We have seen in recent days a serious scaling up on the part of international donors to contain the Ebola epidemic.
“We have seen in recent days a serious scaling up on the part of international donors to contain the Ebola epidemic.
“Today’s report underscores the huge potential costs of the epidemic if we don’t ramp up our efforts to stop it now,” said Kim.