Aid payments are dwarfed by what’s lost to spurious debts, profit extraction, and dodgy invoicing, but help to feed a narrative of the industriousness and benevolence of developed countries.

“What this means is that the usual development narrative has it backwards. Aid is effectively flowing in reverse. Rich countries aren’t developing poor countries; poor countries are developing rich ones.”

In other words, for every $1 of aid that developing countries receive, they lose $24 in net outflows

https://www.theguardian.com/global-development-professionals-network/2017/jan/14/aid-in-reverse-how-poor-countries-develop-rich-countries

Leave a Reply

Your email address will not be published. Required fields are marked *

To respond on your own website, enter the URL of your response which should contain a link to this post's permalink URL. Your response will then appear (possibly after moderation) on this page. Want to update or remove your response? Update or delete your post and re-enter your post's URL again. (Find out more about Webmentions.)