Economic impact of Ebola less severe than previous estimates, World Bank

Economic costs of Ebola epidemic beyond the most-affected countries Guinea, Liberia, and Sierra Leone are much lower than previously estimated because of the intensive global and national responses in the past several months, a new World Bank research report shows Tuesday.

The report estimates the economic losses for sub-Saharan Africa will be 500 million U.S. dollars in 2015 with the current limited spread. In the World Bank's October analysis, the West Africa region alone could experience about 25 billion dollars of economic losses in 2015.

But for the three most-affected countries, there will be at least 1.6 billion dollars in forgone economic growth in 2015 as a result of the epidemic, said the World Bank.

"I am very encouraged to see Ebola transmission rates slowing markedly in Guinea, Liberia, and Sierra Leone, and that other potential outbreaks have been averted because of swift action by other West African governments," said Jim Yong Kim, President of the World Bank Group in the report.

In the worst case scenario, if Ebola spreads to more countries, the cost for African economies could be as high as 6 billion dollars, the report says. Endite