Some Aid doesn’t aid at all

Jean-Bertrand Arisitde points out:

Many in the First World imagine the amount of money spent on aid to developing countries is massive. In fact, it amounts to only .03% of the GNP of the industrialized nations.

Additionally, For every dollar the United States puts into the World Bank, an estimated $2 actually goes into the US economy in goods and services.

Meanwhile, severely indebted low-income countries pay one billion dollars more in debt and interest to the International Monetary Fund (IMF) than they receive from it.

For the 46 countries of Sub-Saharan Africa, foreign debt service was four times their combined governmental health and education budgets.

So, we find that some aid does not aid.

- Jean-Bertrand Aristide, Eyes of the Heart; Seeking a Path for the Poor in the Age of Globalization

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