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Ebola Crisis Will Cause Economies to Shrink, World Bank Says

The World Bank said, 'Ebola's economic devastation has worsened in West Africa, with the outbreak predicted to shrink gross domestic product next year in two of the three worst-hit countries.

The World Bank said on Tuesday, 'Ebola's economic devastation has worsened in West Africa, with the outbreak predicted to shrink gross domestic product next year in two of the three worst-hit countries.' The bank assessed Guinea's economy will grow just 0.5% this year, down from an expected 4.5% before the crisis began. Sierra Leone is expected to register 4% economic growth, down from a pre-crisis expectation of 11.3%, while Liberia will see 2.2% growth, down from 5.9%. According to the latest estimate, the economic effects are expected to worsen in Guinea and Sierra Leone next year, when both economies will shrink. The World Bank Group has pledged nearly $1 billion in financing for all three countries, including funds to enable trade, investment and employment.

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