World Bank: Cost of Ebola could top $32 billion

In the Redlight Markets of Monrovia, the Ebola-stricken country's capital, Liberians were forced to pay 150% more for cassava, a basic for flour and bread. It's a small example, noted by the UN Food and Agriculture Organization, which represents massive economic pain hitting the countries of West Africa. The total cost is now estimated to hit $32 billion over the next two years if it spreads to its larger neighbors, according to a World Bank report issued Wednesday. Liberia has suffered most in the epidemic, which has killed more than 3,800 people and delivered an economic shock to some of Africa's most vulnerable economies. Ebola cases in Liberia and Sierra Leone could rise to between 550,000 and 1.4 million by January if there are no additional interventions, a Centers for Disease Control and Prevention report warned. Liberia, Sierra Leone and Guinea -- the three countries facing the biggest health crisis -- are also facing huge bills to try and contain the virus. The three countries' economies had been growing. Sierra Leone, in particular, had been identified as a country with the potential for significant growth. Before the outbreak, the IMF had forecast the country to grow by over 14% in 2014. Liberia's economy had been growing by around 10% since 2005, while Guinea had been praised by the IMF for its economic and political reforms. Now, the World Bank estimates the outbreak will cost Sierra Leone $163 million, or 3.3% of its GDP this year. If the epidemic continues to spread, the World Bank estimates it could lose as much as 8.9% of its GDP in 2015. For Liberia, the worst case estimates of cost are $234 million, or 12% of GDP. In Guinea it's $142 million, or 2.3% of GDP. Inflation has also spiked in the region, fueled by uncertainty and capital flight, while exchange rates have been volatile, CNN reports.