World Bank Forecasts US$32.6bn Loss if Ebola Lasts Longer

first_imgThe World Bank Group has released a second report in less than a week forecasting a devastating economic impact of the Ebola virus in West Africa if the international community fails to move quickly to contain the disease in the sub-region.With the latest death toll from Ebola now put at about 3,439 in the three worst-affected countries of Guinea, Liberia, and Sierra Leone, the Bank’s new economic impact assessment warned that if the epidemic was to significantly infect people in neighboring countries, some of which have much larger economies, the two-year regional financial impact could reach US$32.6 billion by the end of 2015.The report notes,” as it is far from certain that the epidemic will be fully contained by December 2014, and in light of the considerable uncertainty about its future trajectory, two alternative scenarios are used to estimate the medium-term (2015) impact of the epidemic, extending to the end of calendar year 2015.” A “Low Ebola” scenario corresponds to rapid containment within the three most severely affected countries, while “High Ebola” corresponds to slower containment in the three countries, with broader regional contagion.According to the Bank’s new analysis, the economic impacts of Ebola are already very serious in the core three countries,  particularly Liberia and Sierra Leone, and could become catastrophic under a slow-containment, High Ebola scenario.Our business desk says the Ebola virus has hit the Liberian economy to the extent that all major sectors of the economy,  including agriculture, mining and the service sector have slowed or shut down completely. The hospitality sector is also down amidst less demand. The government says it would need about US$375 million to fight the virus.Atop of the slowdown in major sectors of the economy is huge public spending to contain the virus in the face of dwindling revenue generation.  In broader regional terms, the economic impact could be limited if immediate national and international action stop the epidemic and alleviate the “aversion behavior” or fear factor that is causing neighboring countries to close their borders, and airlines and other regional and international companies to suspend their commercial activities in the three worst-affected countries.The successful containment of Ebola in Nigeria and Senegal so far is evidence that this is possible, given some existing health system capacity and a resolute policy response, the Bank said.”With Ebola’s potential to inflict massive economic costs on Guinea, Liberia, and Sierra Leone and the rest of their neighbors in West Africa, the international community must find ways to get past logistical roadblocks and bring in more doctors and trained medical staff, more hospital beds, and more health and development support to help stop Ebola in its tracks,” says Jim Yong Kim, the President of the World Bank Group.””The international community now must act on the knowledge that weak public health infrastructure, institutions, and systems in many fragile countries are a threat not only to their own citizens but also to their trading partners and the world at large,” says WBG President Kim.”The enormous economic cost of the current outbreak to the affected countries and the world could have been avoided by prudent ongoing investment in health systems-strengthening,” he added.The World Bank Group is supporting country responses in line with the WHO Roadmap, and is coordinating assistance closely with the United Nations and other international and country partners.As the new report notes, “effort and memory will be required to sustain and continue strengthening this early warning network and the complementary investments in effective and resilient African health systems after the Ebola outbreak has been contained. Taken together, the containment effort, the fiscal support, the restoration of investor confidence, and the expanded disease surveillance, diagnostic and treatment capacity promise to first stem the Ebola epidemic, and then help to reverse as quickly as possible the aversion behavior that is causing so much economic damage. “A key issue looking forward will be to re-establish investor trust so that as the epidemic is contained, domestic and international investment can return. The World Bank Group says urgent policies will be needed to jumpstart the renewed flow of relief and commercial activity (for health, business, and tourism purposes) with the affected countries while also safeguarding other countries from epidemiological contagion. To this end, options should be explored for financing improvements to health security infrastructure and protocols of the seaports and airports of the three core countries and their neighbors.To this end, the World Bank Group is mobilizing $400 million in emergency financing for the three countries hardest-hit by the crisis.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more


first_imgThe St Conal’s garden crew with their pumpkinsWould you like the opportunity to grow your own vegetables, fruit, herbs and flowers? If so then the community gardens at St Conal’s Letterkenny is the place to become the modern day good-lifer!Since its inception in 2010 the garden has grown into a natural , sustainable and healthy community. The garden which holds over forty outdoor plots alongside four polytunnels, fruit picking orchards and an indoor gazebo is now accepting names from individuals for the 2014 growing season plot spaces. Alongside your plot space this year you will have the opportunity to get involved in tutored garden time and also some competitive growing!You can grow all sorts in the St Conal’s Garden!Community gardener Joanne Butler will be on hand one day a week to offer assistance and advice to all growers at St Conal’s.“Next year we will start a seed sharing & saving scheme along with a possible box scheme being launched at the garden ”One of the community groups involved in the garden this year is Cara House who are finishing up a very successful garden course there. Participants not only learned practical horticulture but also built a pallet garden, had a go at pumpkin carving, and made christmas pots which go on sale in a few weeks time .Chairperson of the gardens Ann Wilkilson said “increasing consumer interest in where our food comes from combined with concerns about air miles, GM foods and sustainability has led to a community garden renaissance here in which I firmly believe is growing by the year.”So if you would like to get growing with outdoor exercise and relaxation then come on and get involved in the community gardens at St Conal’s.Plot spaces are limited so call Ann on 0868591619 for more information .Busy at work potting some plants. ST CONALS COULD PLANT A NEW IDEA IN YOUR HEAD was last modified: November 18th, 2013 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:Joanne ButlerSt Conal’s Gardenlast_img read more

Substitute Byaruhanga grabs headlines as Vipers scrap past Busoga United

first_img Tags: Borbsi ByaruhangaBusoga United FCFahad BayoUganda Premier Leaguevipers sc Borbsi Byaruhanga (24) celebrates with his teammates after scoring the winner against Busoga United FC on Saturday. (PHOTO/Vipers)Uganda Premier LeagueBusoga United FC 0-1 Vipers SC Mighty Arena, Jinja Saturday, 02-10-2019JINJA – Vipers SC continued their unbeaten start to the 2019/20 Uganda Premier League season on Saturday afternoon.The Venoms who were coming off a 2-1 victory over Kyetume FC narrowly edged Busoga United FC at the Mighty Arena in Jinja.Substitute Borbsi Byaruhanga netted the winning goal in a game that saw Vipers dig extremely deep for three points.The 18 year old who had earlier in the second half come on for Karim Watambala scored the winner after he was teed up by currently league top scorer Fahad Bayo in the 91st minute of the contest.Bayo could have handed Vipers the lead but shot over from a glorious position.Vipers created the better chances but Brian Nkuubi and namesake Kalumba failed to convert either.The result means that Vipers SC have now gone 11 games without defeat since the season started. They have won 8 of those and drawn the other 3.The Venoms now have 28 points and sit top of the pile, three points above second placed BUL FC who defeated Kytume 2-0 on Friday.For Busoga United, they remain 5th on the log with 16 points from 11 games.In their next fixtures, Vipers host Wakiso Giants FC while Busoga are away to Kyeume FC.How both teams started Busoga United FC Rogers Omedwa, Gorge Kasonko, Joseph Ssemwogerere, Abubaker Otwao, Julius Debbo, Shafiq Kakeeto, Douglas Muganga, Boban Zirintusa Bogere, Paul Ssekulima, David Bagoole, Joel MadondoVipers SC Fabien Mutombora, Paul Willa, Aziz Kayondo, Halid Lwaliwa, Bashir Asiku, Siraje Ssentamu, Brian Nkuubi, Brian Kalumba, Fahad Bayo, Dan Sserunkuma, Abdul Karim WatambalaThe other games played on Saturday -Wakiso Giants FC 0-3 Express FC-Bright Stars FC 1-0 Onduparaka FC-Maroons FC 2-1 Police FCComments last_img read more