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Ebola’s impact on Africa economy competence be reduction than feared – World Bank


* Impact expected closer to $3-$4 billion-region’s chief
economist

* African tourism has been “ravaged” by Ebola

* Nearly half of Liberia workforce no longer working

* Lower oil prices a regard for Africa mercantile stability

(Adds apart news on impact on Liberia workforce)

By Joe Brock

JOHANNESBURG, Nov 19 (Reuters) – The cost of a Ebola
epidemic for Sub-Saharan Africa’s economy is expected to be closer
to $3 billion-$4 billion and not a worst-case unfolding of $32
billion, a World Bank’s arch economist for a continent said
on Wednesday.

Francisco Ferreira pronounced in a harangue in Johannesburg that
successful containment of Ebola in some West African countries
made a gloomiest forecasts reduction likely, though a economic
damage could still expand if there was any complacency.

“The risk of a top box of mercantile impact of Ebola
has been reduced given of a success of containment in some
countries. It has not left to 0 given a good turn of
preparedness and concentration is still needed,” Ferreira said.

“I would contend a opinion has changed closer to a reduce case
of $3-$4 billion, than a top case,” he said.

In a news in October, a World Bank pronounced that if the
Ebola widespread widespread significantly outward a epicentre states
of Guinea, Sierra Leone and Liberia, a intensity cost for
Africa in disrupted cross-border trade, supply bondage and
tourism could volume to tens of billions of dollars.

One specific guess supposing by a bank pronounced a regional
impact could strech $32.6 billion by a finish of 2015 in a worst
case scenario.

The bank pronounced a scaled-up tellurian response was indispensable to
prevent this happening. Since then, a United Nations has led
international efforts to send some-more medical crew to the
Ebola section and boost appropriation to quarrel a misfortune recorded
outbreak of a lethal haemorrhagic virus.

The latest WHO Ebola total on Nov. 14 reported 5,177 deaths
out of 14,413 cases, mostly in a 3 worst-hit countries.

IMPACT ON FOOD SECURITY, WORK

The World Bank says a impact on a 3 many affected
economies has already been severe, attack all from food
output to practice levels.

In Liberia, scarcely half of those operative when a outbreak
was initial rescued in Mar no longer have jobs as of early
November, according to a apart World Bank news on
Wednesday, formed on surveys carried out around mobile phones.

“Even those vital in a many remote communities in
Liberia, where Ebola has not been detected, are pang the
economic side effects of this terrible disease,” Ana Revenga,
Senior Director of a Poverty Global Practice during a World Bank
Group, pronounced in a matter concomitant a report.

“Relief efforts contingency concentration not usually on those directly
affected by a virus, though also on those in a poorest
communities for whom marketplace access, mobility, and food security
continue to get worse,” she said.

More than 90 percent of those surveyed in Liberia worried
that their domicile would not have adequate to eat.

The World Bank Group is mobilising scarcely $1 billion in
financing for a countries misfortune strike by a Ebola crisis.

Ferreira pronounced that a Ebola predicament had already ravaged
tourism in Africa given a “fear factor” kept visitors away
from countries even where there had been no cases of a virus,
like Kenya and South Africa.

He also highlighted a some-more than 30 percent dump in global
oil prices given Jun as a vital regard for a fiscal
stability of African oil producers, quite a continent’s
largest wanton exporter, Nigeria.

(Additional stating by Helen Nyambura-Mwaura; Editing by
Pascal Fletcher, Crispian Balmer and Sonya Hepinstall)

Article source: http://www.reuters.com/article/2014/11/19/health-ebola-africa-economy-idUSL6N0T936S20141119

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