Mortality Costs of and Policy Responses to the COVID-19 Pandemic in Côte d'Ivoire

Côte d'Ivoire, the largest economy in the West African Economic and Monetary Union, was hit by COVID-19, which claimed many lives. This paper estimates COVID-19 mortality costs over time using the value of a statistical life. Using a more conservative estimate of the value of a statistical life income elasticity ranging from 1 to 1.4, the overall COVID-19 mortality costs in Côte d'Ivoire since the pandemic range from US$ 100.4 million to US$ 284.3 million. Considering age-related adjustments, a 3 percent discount rate, and a value of a statistical life income elasticity of 1 to 1.4, the COVID-19 costs range from US$ 5.4 million to US$ 15.3 million. Similarly, the COVID-19 mortality costs range from US$ 6.8 million to US$ 19.3 million with a 5 percent discount rate and a value of a statistical life income elasticity of 1 to 1.4. More significantly, the findings suggest that COVID-19 mortality costs started to decline in 2021. To enhance prevention, preparedness, and response to future pandemics, policy makers could consider allocating pandemic funding within national budgets. Exploring potential partnerships with philanthropic organizations and international entities could further enhance domestic resource matching efforts.