Wednesday, July 6

Financing Corruption in Third World Countries

Great article by Nile Gardiner on the problems with debt forgiveness and all the feel-good anti-poverty campaigns going on.
Rather than end poverty, more aid would "perpetuate a culture of dependency in the continent," impeding necessary reforms. And too much aid has wound up with political elites, cementing their power.
The conclusions is priceless! This is real solutions for real world problems. Why can't
Advancing Economic and Political Freedom in Africa
Africa’s problems cannot be solved simply by spending more money on development assistance, and President Bush should not hesitate to convey the message that the United States will not support a huge increase in foreign aid.At the G-8 summit, President Bush should argue that the specter of poverty in the African continent can best be challenged through open trade, increased foreign direct investment (FDI), and sustained political pressure on African governments to liberalize their economies and advance economic and political reform. The greatest gift the West can give to Africa and the developing world is not yet another short-term handout measured in dollars, pounds, or euros, but the seeds of liberty and freedom and a long-term commitment to holding African leaders to account for corruption, misrule, and human rights abuses.
Read the whole piece.