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Ebola could wreck W Africa economies, warns World Bank | Ebola could wreck W Africa economies, warns World Bank |
(35 minutes later) | |
The Ebola outbreak could have a catastrophic impact on the economies of Guinea, Liberia and Sierra Leone, the World Bank says. | The Ebola outbreak could have a catastrophic impact on the economies of Guinea, Liberia and Sierra Leone, the World Bank says. |
The organisation says the economic impact of the virus could "grow eight-fold" in the "already fragile states". | The organisation says the economic impact of the virus could "grow eight-fold" in the "already fragile states". |
However, it says the cost can be limited if the epidemic - and the accompanying fear - is contained by a fast global response. | However, it says the cost can be limited if the epidemic - and the accompanying fear - is contained by a fast global response. |
Ebola has killed 2,461 people in West Africa - the largest ever outbreak. | Ebola has killed 2,461 people in West Africa - the largest ever outbreak. |
Earlier on Wednesday, US President Barack Obama called the latest outbreak "a threat to global security", as he announced a larger US role in fighting the virus. | Earlier on Wednesday, US President Barack Obama called the latest outbreak "a threat to global security", as he announced a larger US role in fighting the virus. |
The measures announced included ordering 3,000 US troops to the region and building new healthcare facilities. | The measures announced included ordering 3,000 US troops to the region and building new healthcare facilities. |
The announcement came as UN officials described the outbreak as a health crisis "unparalleled in modern times". | The announcement came as UN officials described the outbreak as a health crisis "unparalleled in modern times". |
The World Bank's analysis said billions of dollars could be drained from West African countries by the end of next year if the virus continued to spread. | The World Bank's analysis said billions of dollars could be drained from West African countries by the end of next year if the virus continued to spread. |
Under the worst-case scenario, the global development lender predicted that economic growth next year could be reduced by 2.3 percentage points in Guinea and 8.9 percentage points in Sierra Leone. | Under the worst-case scenario, the global development lender predicted that economic growth next year could be reduced by 2.3 percentage points in Guinea and 8.9 percentage points in Sierra Leone. |
It predicted Liberia's economy would be hardest-hit, losing 11.7 percentage points off its growth next year. | It predicted Liberia's economy would be hardest-hit, losing 11.7 percentage points off its growth next year. |
In a statement released on Wednesday, Liberian President Ellen Johnson Sirleaf welcomed the US plan to combat Ebola, saying she hoped it would "spur the rest of the international community into action". | |
"This disease is not simply a Liberian or West African problem. The entire community of nations has a stake in ending this crisis," the statement said. | "This disease is not simply a Liberian or West African problem. The entire community of nations has a stake in ending this crisis," the statement said. |