Ebola Crisis

More like this

The Impact of Exploration and Colonzation

by Hannah James

Uses of Rivers

by Gurpreet Kaur

Great economist concept map

by anthony joaquim

Third-Wave Civilization Trade Routes

by Ben Woodberry

The disease has both social and economic implications in the areas affected.

The fear of the disease more than the disease itself is causing people to stop trading, mining, farming, saving, travelling and spending on the continent.

Ebola Crisis

Tourism

Most major airlines cancelled flights in and out of countries affected by the disease

The bans also create a stereotype of the African continent and make it so people assume they will contract the virus if they travel to any part of the continent.

With flight also being impacted, even more trade is being stopped and prices of medication and supplies are rising

Fiscal Challenges

The government is in a tough place because it is losing money on trade tariffs (because trade has been reduced) and has to pay more for medical supplies to address the outbreak

This will lead to prolonged government debt and higher taxes for citizens to balance the budget.

93 million for Liberia (4.7% of GDP) 79 million for Sierra Leone (1.8% of GDP) 120 million for Guinea (1.8% of GDP)

Agriculture

Planting season was interrupted by the outbreak.

This will increase inflation and the price of food by as much as 13%

Again, A large portion of GDP is dependent on agriculture (20-57%)

Financial Sector

Banks will face liquidity issues if large depositors withdraw funds and creditors miss payments

This puts the whole financial system in Jeprody because there is no capital moving throughout the capital and as seen in the great depression, when banks fail, the entire economy is next.

Many wealthy people have taken their money and left these countries

Mining and Investment

Global companies are moving their mining operations out of the west African Countries

The companies are stopping operations and sending foreign workers home. There

14% of Liberia's economy 17% of Sierra Leone's economy

Mobility restrictions, trade and transport

To stop the spread of the virus, transport and trade between and West African countries

Reduces production and employment.

This trade accounts for 20-75% of GDP