(January 31, 2011) Bond markets have taken the profligate Spanish government to task. Foreign aid officials take note.
(November 19, 2010) A speech given at the University of Waterloo by Probe International’s Executive Director, Patricia Adams, on the failure of foreign aid in Haiti.
(July 28) The British public, writes Probe International, says it’s time the government consider cutting foreign aid.
(April 2, 2010) Billions of dollars in international financial aid do more harm than good on the African continent, economist and best-selling author Dambisa Moyo said in a lecture to students on Thursday. In the lecture, held in Filene Auditorium, Moyo argued that continued financial aid to African nations allows political leaders to ignore their responsibilities to the population in favor of appeals to potential donors.
The joy of doing business In Africa: How corrupt Senegalese politicians tried to shake down Millicom for $200 million
(February 5, 2010) Corruption in Senegal is more than a risk to private investors like Millicom, it’s a risk to taxpayers, too. More than half a billion dollars in U.S. development assistance is going to Senegal over the next five years on the assumption of good governance.
(January 29, 2010) Brian Griffiths, an international adviser for Goldman Sachs, is another voice in what is quickly becoming a chorus of foreign aid critics that are heralding the use of private markets and funds as way to promote economic growth on the African continent. In a recent lecture at Oxford University, Griffiths said churches already working in Africa should help promote businesses and markets in countries across the continent.
(January 16, 2010) Aid is an unmitigated, political and humanitarian disaster, declares Zambian economist Dambisa Moyo, in her book, "Dead Aid: Why Aid Is Not Working and How There Is a Better Way for Africa." Hers is such a "tough love" prescription that the author has had to dodge a punch in Toronto, Canada, and has had tomatoes thrown at her elsewhere.
(December 28, 2009) Bond markets will discover its attractions. For African governments it is clear that aid flows will go down in 2010, and dramatically so. Donor governments have slashed their aid budgets, and with most facing unfavourable demographic shifts and large deficits, to depend on their largesse is no longer sensible.
Dead Aid offers a prescription for African development that doesn’t involve giving away money, but instead proposes a capitalistic approach to enable African nations to tap into the financial markets to their own benefit. By receiving and slowly improving credit ratings and by issuing bonds, while encouraging foreign investment, Moyo argues, African nations can free themselves from a damaged system and grow using the same paradigm that works for developed nations.
(December 11, 2009) Arend Jan Boekestijn’s book deals a new blow to the position of development aid in the Dutch political landscape, which seemed unassailable until recently. For decades, the subject was taboo.
(Jun 28, 2009) A recent article by Witney W. Schneidmanin in Newsweek provides an apt description of Dambisa Moyo’s vision for the African continent.
(June 25, 2009) Dambisa Moyo’s solutions to ineffectual foreign aid have been sneered at, misrepresented, distorted, and attacked outright. Probe International takes it as a sign that Dead Aid has hit the central nervous system of the foreign aid industry. Consequently it can be difficult to separate what Moyo really said from what has been put forth as her words by others in an attempt to vilify her position. Here, Probe International attempts to set the record straight with a side-by-side comparison of what Moyo actually said versus what her critics claim she said.
(June 23, 2009) In the wake of Dambisa Moyo’s recent book, “Dead Aid: Why Aid is Not Working and How There is A Better Way for Africa”, the debate surrounding aid to African countries has, again, taken center stage.
(June 15, 2009) As the economic crisis continues to work its way through the global economic system, the World Bank is using the slowdown as an opportunity to increase lending to the developing world. According to the bank’s president, Robert Zoellick, the bank will increase its lending by $100 billion over the next three years. In 2009 alone, the bank plans to triple its lending from $13.5-billion to $35-billion.
(June 6, 2009) As the economic crisis continues to work its way across the globe, the plight of African countries has been used as a reason for increasing foreign aid to the developing world. But a new tone has taken root amongst lawmakers in Africa, with a number of African leaders saying its time for leaders across the continent to find ways to fix problems without relying so heavily on foreign aid.