There is little to show for the trillions of dollars that have been poured into the continent-a failure with numerous causes. There is no question that much of the aid intended to build economies in Africa has been grossly wasted, stolen, and misused. While I don't necessarily disagree with her conclusion, I didn't find her arguments particularly convincing. Dambisa Moyo, who formerly worked for Goldman Sachs and the World Bank, draws a conclusion not unknown to others in the field: development aid (as differentiated from humanitarian aid) has not only done little good for the nations of Africa but has indeed caused great harm.
Moyo believes her book provides a blueprint for Africa to wean itself off aid, and the goal cannot be achieved without the donors' cooperation.Dead Aid is an interesting, provocative look at the foreign aid industry and its effects on Africa. Among them are issuing bonds to raise finance, as has been done by South Africa, Ghana, and Gabon, only three of forty-three African countries greater economic trade with the Chinese, who invested $4.5 billion in infrastructure in Africa in 2007 (more than the G8 countries combined) trade microfinancing and increasing domestic savings. Moyo's economic prescription for many African countries lies in a range of measures to be implemented over five to ten years. Written eloquently, part one of Moyo's book is a searing and necessary critique of Western aid agencies and the African countries that receive aid, and its failure. Moyo considers that there should still be a role for some kinds of aid intervention in Africa, especially in specific instances, as the sticking-plaster role of foreign aid, which has poured US$2 trillion from developed countries to poor countries in the last fifty years, has failed to deliver the promise of sustainable economic growth and poverty reduction. However, the book may appeal to students, researchers, policy makers, and the general reader interested in aid. This proposition will alarm the entire international-aid architecture, including those whose jobs depend on doling aid to Africa, and for whom Africa is considered both a career and industry. After all, she is an African woman with a background in the corporate world of Goldman Sachs, the World Bank, Harvard, and Oxford, who is advocating that aid, as it is known now, is damaging Africa and should stop.
14.99.įor some people, arguments and positions represented in the book by Dambisa Moyo may be controversial, and even polemical. DEAD AID: WHY AID IS NOT WORKING AND HOW THERE IS ANOTHER WAY FOR AFRICA.
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