IMF Disburses $130m to Ebola-hit Countries

 Onyedimmakachukwu Business, Finance/Money, Pharma & Healthcare

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VENTURES AFRICA – The International Monetary Fund has announced that it has approved an immediate disbursement of $130 million aid to Guinea, Liberia and Sierra Leone to help them deal with the economic crises caused by the Ebola outbreak.
IMF Chief Christine Lagarde described the Ebola epidemic, which has left over 2500 dead in the three countries, as a “humanitarian crisis” that “could also have deep economic consequences.”
The aid comes in addition to programs that the IMF already has in the three countries; Guinea already has a $200 million program from the IMF, while Liberia is
getting about $80 million and Sierra Leone about $96 million.
The IMF had last week said that about $300 million was needed to close the financing gaps in Guinea Liberia and Sierra Leone, countries which are among the poorest in West Africa and the hardest-hit by the worst Ebola epidemic since 1976.
There are already potent fears that Liberia could fall into a recession in 2015 as its economically crucial mining sector has been badly hurt by the epidemic alongside huge demands on public spending.
The African Development Bank (AFDB) had recently disclosed that it was willing to provide a grant of $150 million to Guinea, Liberia and Sierra Leone to help them balance their public finances on the condition that they must first show that they are doing everything possible to improve their health systems.