The spread of Ebola represents more than just a global medical emergency – it is also an economic event. As reported by the Economist magazine, the first reported case in the Ebola outbreak presently ravaging West Africa dates back to December of last year in a forested area of Guinea near the border with Liberia and Sierra Leone. Travelers to the region helped spread the disease – by late March, Liberia reported 8 suspected cases and Sierra Leone six.
By roughly a week ago, there were more than 10,000 reported cases worldwide and nearly 5,000 deaths. For now, much of the economic damage is confined to West Africa. An impact assessment released by the World Bank earlier this month estimated the short-term impact of the outbreak on the economies of Guinea, Liberia and Sierra Leone. Damage is expected to continue into next year under the Bank’s gloomier High Ebola scenario.
The economic loss to Liberia under this scenario in 2015 would be equivalent to 12 percent of their gross domestic product. Much of this prospective damage stems from the fact that these nations lack the resources to effectively counter the contagion. In the U.S., there are 245 doctors per 100,000 people. In Guinea, there are ten.
