Ebola stricken countries could see debt forgiveness

ADDIS ABABA, Ethiopia (AP) — A U.N. commission is asking for more debt cancellations for the three West African nations hardest hit by the Ebola virus.

The United Nations Economic Commission for Africa said Monday that it is crucial that the current Ebola health crisis not be a catalyst for financial distress in Sierra Leone, Guinea and Liberia.

Carlos Lopez, a U.N. under secretary-general and the executive secretary of the U.N. Economic Commission for Africa, appealed in Ethiopia on Monday for loan forgiveness.

A new report on the socio-economic impact of Ebola said the overall impact on Africa should be minimal because the three countries account for only 0.68 percent of Africa’s GDP. The report estimates that Ebola’s impact on the continent’s GDP levels in 2014 and 2015 will be only -0.19 percent and -0.15 percent. (read more)