By Duncan Miriri

NAIROBI (Reuters) – A rapid spread of the Mpox virus in sub-Saharan Africa could add to the fiscal pressures already facing many countries in the region, ratings agency Fitch said on Wednesday.

The World Health Organization declared the potentially deadly Mpox species a global health emergency earlier this month after a new strain called clade Ib spread from the Democratic Republic of Congo to neighboring countries.

“Virus outbreaks can have significant economic and fiscal impacts,” Fitch said in a statement. However, some of the negative impacts could be mitigated by increased financial support from rich donor countries.

Fitch-rated issuers that have reported Mpox cases include Ivory Coast, Kenya, Rwanda, South Africa and Uganda, according to the rating agency.

“In most of these countries, the number of confirmed MPOX cases is very low, often in the single digits. However, in some countries there may be under-reporting,” it says.

Some 13 African countries have reported more than 22,800 MPOX cases and 622 deaths this year, the Africa Centers for Disease Control and Prevention said on Tuesday. A week earlier, 12 countries reported more than 18,900 cases and 541 deaths.

Several strains of MPOX are spreading simultaneously in Africa, but the vast majority of cases still occur in the Congo.

In the event of a significant increase in the number of methoxy cases, the economic consequences would likely affect consumption and production in particular, according to Fitch.

Tourism – a potentially significant factor in Kenya, Rwanda and Uganda – could also be affected, where the United Nations estimates it will account for 11%, 20% and 19% of total export earnings from goods and services respectively in 2022.

“Addressing the effects of inflation could also be challenging, particularly if there are significant disruptions in food production and/or logistics,” Fitch added. Tax revenues could also fall and higher healthcare spending may be required.

(Reporting by Duncan Miriri; Editing by Marc Jones and Sharon Singleton)