Economic fallout could be expected in the case of a bird flu pandemic
September 13th, 2006
A World Bank analysis made on Tuesday warned of a possible world wide economic decline in the event of an avian influenza pandemic. If any of the current strains of the virus mutate into a form that is easily transmittable among humans, the extent of the decline could be massive. However, this is a worst case scenario. The magnitude of the decline, as well as the potential for recovery will greatly depend on the characteristics of the new strain of bird flu and on the level of preparedness that both the general public and the private sectors will have facing this epidemic. The World Bank’s Global Financial Stability Report was released just ahead of a week long International Monetary Fund, as well as the Bank’s annual meeting in Singapore. Experts say that preparation taking the form of a business continuity plan is the minimum that should be achieved in the wake of a possible pandemic. The International Monetary Fund has been encouraging countries to make preparations for a possible pandemic, organizing regional seminars that bring together different authorities.