Publication: Update on the Economic Impact of the 2014-2015 Ebola Epidemic on Liberia, Sierra Leone, and Guinea
Date
2014-04-15
ISSN
Published
2014-04-15
Author(s)
World Bank Group
Abstract
A year after the onset of Ebola, the
estimated GDP losses for the three countries through 2015
total US$2.2 billion (US$240 million for Liberia, US$535
million for Guinea and US$1.4 billion for Sierra Leone).
This is the result of the severe impact of the epidemic
which has been exacerbated by the large decline in the world
price of iron ore and severe corporate governance issues in
mining in Sierra Leone. Important differences among the
three countries are emerging. Liberia is gradually returning
to normalcy, Guineas economy is stagnating, and Sierra Leone
is suffering a severe recession. This update presents the
World Banks most recent analysis of the economic and fiscal
effects of the Ebola epidemic on the three countries. In
relation to our January 2015 report it contains: 1) an
updated status for the economies of Liberia, Guinea, and
Sierra Leone; and 2) a brief description of these countries
Economic Recovery Plans with indicative estimates of their
potential impact on growth. As of April 2015, the Ebola
epidemic has been largely contained but the negative effects
on the economies of Liberia, Guinea and Sierra Leone loom
large amidst continued uncertainty about the timing of
complete eradication. The crisis continues to adversely
affect these economies, so pace of recovery in these
countries will depend heavily on adequate financing and
effective implementation of the recovery plans. Ultimately,
Liberia, Guinea and Sierra Leone will need the strong
support from the development community over the next years
to both make up for the losses incurred during the Ebola
crisis and make these economies less vulnerable for the future.
Citation
“World Bank Group. 2014. Update on the Economic Impact of the 2014-2015 Ebola Epidemic on Liberia, Sierra Leone, and Guinea. © World Bank, Washington, DC. http://openknowledge.worldbank.org/handle/10986/21965 License: CC BY 3.0 IGO.”