$130 million package to fight Ebola in West Africa approved by IMF

The International Monetary Fund (IMF) has approved a $130 million package to help fight the Ebola virus outbreak in West Africa.
Around 3,000 people have died from the disease since the latest outbreak began six months ago.

An expedited decision to release the funds was taken by the IMF's Executive Board in Washington D.C. on Friday.

Guinea will receive $41 million, Liberia $49 million and Sierra Leone $40 million.
Christine Lagarde, Managing Director of the IMF, explains.

"The Ebola virus is causing not only humanitarian terrible damage on Sierra Leone, Guinea and Liberia but is also causing economic damage. So the three countries have asked for help and we have approved a package of $130 million that will go to support those three countries. The money is going to help the three countries as budget support. They clearly need to use those funds to fight the consequences of the virus."

The IMF says the crisis is still unfolding but its initial estimates suggest that growth this year could decline by at least 3 to 3.5 per cent in Liberia and Sierra Leone and by about 1.5 per cent in Guinea.

SOURCE: Daniel Dickinson, United Nations.