6/29/2023 0 Comments Dead aid reviewFor Moyo, aid is not only “ineffective but malignant.” This essay discusses critically albeit briefly whether foreign aid promotes economic growth and development in the developing world or aid is a mere foreign policy instrument that the rich countries use to exploit the developing, poor nations. Dambisa Moyo, an Oxford economist and the author of the Dead Aid describes this paradox in even lethal terms. Yet, in many of the countries receiving aid, poverty still looms large and underdevelopment persists. These flows are topped up by support from non-governmental organizations (NGOs) and other private charities, and the so-called new donor countries. Over the last five decades, western donors spent $4.14 trillion – the equivalent of more than seven times the 2014 GDP of Nigeria. An article by the World Economic Forum in 2015 states that rich countries gave more than $130 billion to Official Development Assistance (ODA) in 2014 alone.
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