What Has Foreign Aid Done For Us?
January 6, 1997
Foreign aid advocates want more money for Central Africa. But critics assert that cash transfers have a sorry record of advancing growth or stability in recipient countries.
- Fully 70 developing states are poorer today than they were in 1980 -- with 43 worse off than they were in 1970.
- Many of the biggest recipients of foreign assistance -- Bangladesh, Egypt, India, Sudan and Tanzania -- have been among the world's worst economic performers.
- Prior to the latest emergency in Rwanda, that country received $4.5 billion in 23 years.
Rather than being an agent of assistance to many countries, foreign aid has often only subsidized corrupt dictators who wrecked their nations, critics believe.
Source: Doug Bandow (Cato Institute), "Foreign Aid: Part of the Problem," Investor's Business Daily, January 6, 1997.
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