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Killing Sub-Saharan Africa with Aid

Orjiako, Humphrey

Published by Nova Science Publishers Inc
ISBN 10: 1560728795 / ISBN 13: 9781560728795
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Title: Killing Sub-Saharan Africa with Aid

Publisher: Nova Science Publishers Inc

Binding: Hardcover

Book Condition: New


Num Pages: 102 pages, tables & maps. BIC Classification: GTF; JKSN1. Category: (G) General (US: Trade); (UU) Undergraduate. Dimension: 236 x 159 x 13. Weight in Grams: 362. . 2000. Hardcover. . . . . Bookseller Inventory # V9781560728795

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Synopsis: The international donor community comprising the World Bank and the International Monetary Fund, regional organizations such as the European Union, other multilateral international agencies and individual OECD countries, has used foreign aid in one form or another to ameliorate the grim situation in sub-Saharan Africa, home to 33 of the 48 least developed countries, LDCs, in the world. The role of donors has therefore become an increasingly important and constant factor in the economies of sub-Saharan Africa. Over all, since the 1980s, there has been a dramatic growth in external intervention in the form of IMF-World Bank guided stabilization/structural adjustment funding and Official Development Assistance, (ODA) in various forms. At the bilateral level, almost all the OECD countries have provided sub-Saharan Africa with aid of high grant content, some 61.4% compared to a global average of about 25%. Since the end of the cold war, foreign aid advocates decry what they describe as 'unsettling trends' - the progressive fall of net ODA flows from the Development Assistance Committee (DAC) countries to developing countries and multilateral organizations. Even at the height of its growth, aid inflows did not begin to offset half the losses in external earnings that SSA has suffered as a result of declining commodity prices. In the four years between 1986 and 1990, the region received an average of $16 billion per annum while losing more than $50 billion each year in foreign income due to deteriorating terms of trade.

Instead of generating growth, the excessive borrowings generated unsustainable debt burdens that set the stage for sub-Saharan Africa's economic decline. This book examines the hypothesis that rather than promote growth and development in SSA, foreign aid interventions may have contributed in no small measure to the poor performance of the region's economies.

This study is not about emergency food aid and/or humanitarian aid as a response to natural and man-made disasters. It does not even cover the activities of Non-Governmental organizations engaged with the development process (NGDOs). In this connection, the study concentrates on examining the government-centered, development-oriented and compensatory types of aid such as provided mostly by the EU under the Lomé system, and the IMF/World Bank under the stabilization and structural adjustment programs.

About the Author: Humphrey Orjiako

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