Zika virus could cost Latin America and Caribbean economy more than $3.5 billion

The World Bank has estimated that the outbreak of the Zika virus will cost Latin American and the Caribbean region economies about $3.5 billion, reports teleSUR.

The Zika virus has spread to more than two dozen nations and territories in the Americas, said the World Bank, adding that it is likely to slow the region's economy. "Our analysis underscores the importance of urgent action to halt the spread of the Zika virus and to protect the health and well-being of people in the affected countries," said World Bank Group president Jim Yong Kim.

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