Dead Aid-Book Report

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Dead Aid: Why aid is not working and how there is a better way for Africa By Dambisa Moyo In the book Dead Aid, author Dambisa Moyo gives an indictment of the foreign aid industry, arguing that western aid to Africa has not only perpetuated poverty but also worsens it. She insists “You get the corruption—historically, leaders have stolen the money without penalty—and you get the dependency, which kills entrepreneurship. You also disenfranchise African citizens, because the government is beholden to foreign donors and not accountable to its people.” Much of "Dead Aid" outlines an agenda for Africa's economic development, such as expanding its trade and developing its banking sector -- that is, creating a reliable system of credit that will allow individuals to earn interest on their savings and businesses to receive the loans they need to grow. While criticizing outsiders for their misguided ideas, she does not ignore Africa's self-inflicted wounds. She notes there are steep obstacles to doing business there. According to the World Bank, nine of the world's 10 most hostile business environments are in Africa. There is no doubt that something is going wrong with the relationship between Africa and the aid that comes from the West. In “Dead Aid”, Dambisa Moyo points to the two trillion US Dollars that have been flowing as ‘aid’ to the developing countries, most of it to Africa, in the last six decades. But obviously, the money does not help. The situation in Africa is deteriorating. Moyo says: not only in spite of the aid, but even because of it. Aid is the cause of the increasing poverty in Africa. Moyo is not alone with her criticism of aid and the demand to stop it. However, she tries to prove that aid for Africa has not only been useless, but destructive: it makes the poor poorer and growth slower; aid is a political, economic and humanitarian disaster.

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