Ebola isn't just killing people. It's ravaging West Africa's economy.

The Ebola virus is a vicious illness in which victims bleed from the eyes, mouth, and other bodily orifices. The ongoing outbreak is already the worst in history, with a death toll that has topped more than 1,200 as of Tuesday, according to figures compiled by the World Health Organization.
What's less widely known are the effects of Ebola on the economies of the countries afflicted by the outbreak, which include Guinea, Sierra Leone, Liberia, and Nigeria. As David Francis of Foreign Policy writes:
The World Bank estimates that Guinea's GDP will shrink between 3.5 and 4.5 percent this year as Ebola roils the agricultural sector and discourages regional trade. Liberia's finance minister, Amara Konneh, lowered the country's GDP estimates by 5.9 percent because of the outbreak. Bismarck Rewane, CEO of the Financial Derivatives Company, a Lagos-based financial advisory and research firm that manages $18 million in assets, told CNBC Africa on Monday, Aug. 18, that Nigeria could lose at least $3.5 billion of its $510 billion GDP. Moody's has already warned that the virus could hinder the region's energy sector. [Foreign Policy]
He adds that the total damage will remain unknown until the outbreak is over, but "[i]f history is any indication, the blow is likely to be enormous and disproportionate to the death toll. For instance, the 2003 SARS outbreak, which killed 800 people, inflicted some $50 billion in damages to the global economy, according to the Economist. Ebola could be even worse."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
John Aziz is the economics and business correspondent at TheWeek.com. He is also an associate editor at Pieria.co.uk. Previously his work has appeared on Business Insider, Zero Hedge, and Noahpinion.
-
The week's best photos
In Pictures A sea of kites, a game of sand hockey, and more
By Anahi Valenzuela, The Week US
-
G20: Viola Davis stars in 'ludicrous' but fun action thriller
The Week Recommends The award-winning actress plays the 'swashbuckling American president' in this newly released Prime Video film
By The Week UK
-
The Masters: Rory McIlroy finally banishes his demons
In the Spotlight McIlroy's grand slam triumph will go down as 'one of the greatest and most courageous victories in the history of golf'
By The Week UK
-
RFK Jr. visits Texas as 2nd child dies from measles
Speed Read An outbreak of the vaccine-preventable disease continues to grow following a decade of no recorded US measles deaths
By Peter Weber, The Week US
-
Shingles vaccine cuts dementia risk, study finds
Speed Read Getting vaccinated appears to significantly reduce the chances of developing Alzheimer's and other forms of dementia
By Peter Weber, The Week US
-
Measles outbreak spreads, as does RFK Jr.'s influence
Speed Read The outbreak centered in Texas has grown to at least three states and Health Secretary Robert F. Kennedy Jr. is promoting unproven treatments
By Peter Weber, The Week US
-
RFK Jr. offers alternative remedies as measles spreads
Speed Read Health secretary Robert F. Kennedy Jr. makes unsupported claims about containing the spread as vaccine skepticism grows
By Peter Weber, The Week US
-
Texas outbreak brings 1st US measles death since 2015
Speed read The outbreak is concentrated in a 'close-knit, undervaccinated' Mennonite community in rural Gaines County
By Rafi Schwartz, The Week US
-
Mystery illness spreading in Congo rapidly kills dozens
Speed Read The World Health Organization said 53 people have died in an outbreak that originated in a village where three children ate a bat carcass
By Peter Weber, The Week US
-
Ozempic can curb alcohol cravings, study finds
Speed read Weight loss drugs like Ozempic and Wegovy may also be helpful in limiting alcohol consumption
By Peter Weber, The Week US
-
New form of H5N1 bird flu found in US dairy cows
Speed Read This new form of bird flu is different from the version that spread through herds in the last year
By Peter Weber, The Week US