Stop giving us aid, say Africans...

I've just been talking to a very clever man. He's called Thompson Ayodele, he's from Nigeria and he thinks that overseas aid is making African countries poorer. The statistics he produces are jaw-dropping. They suggest a direct correlation between the receipt of development assistance and low growth. This is true whether you compare neighbouring countries, or whether you look at different periods within the same country. Foreign aid, he suggests, isn't useless; it's actively harmful. It discourages enterprise, fosters dependency and bolsters corrupt regimes. A similar correlation exists between debt remission and insolvency: countries which have their bills periodically written off become re-indebted more quickly than countries which don't. More...

See also:

1. IMF, raping the world, one poor nation at a time...
2. Foreign aid is ruining Africa...
3. Is too much aid the cause of Africa's poverty and corruption?
4. Get out of the way, Bono, and leave Africa alone...
5. How China is transforming Africa! Excellent documentary...