Via Sky News: Moody's: Ebola Risks Economic Ramifications. Excerpt:
Credit rating agency Moody’s has warned that "beyond the tragic loss of life", Ebola could have "significant economic and fiscal ramifications" for a number of west African countries.
Moody's Investors Service has released a report which sets out the potential impact on west African economies from the disease.
Last week, Nigeria became the latest country to declare a state of emergency, following the second death from 10 confirmed cases.
Senior credit officer at Moody’s in London Matt Robinson, who wrote the report, warned: "If a significant outbreak emerges in the Nigerian capital of Lagos, the consequences for the west African oil and gas industry would be considerable."
Nigeria is the largest oil producer on the continent and the twelth-largest producer in the world, with international companies such as Exxon, Chevron, Shell, ENI and Total operating there.
Mr Robinson said: "Any material decline in production would quickly translate into economic and fiscal deterioration."
Moody’s expects commercial and transport disruptions in the wider west African region to last for at least the next month.
Combined with increased health expenditure, it predicts the pressure on government budgets could jeopardise economic growth.
The US Centers for Disease Control advised against all non-essential travel to Guinea, Liberia and Sierra Leone last month.
British Airways and Emirates are amongst the international airlines to have suspended flights.
The Moody’s report warned that it expects Ebola to have an impact on revenue generation in the region “where budgets are already hindered by low tax collection”.
An assessment from the World Bank and International Monetary Fund in June predicted that GDP growth in Guinea will fall from 4.5% to 3.5% as a result of the epidemic.