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