Dambisa Moyo: Stop Sending Aid to Africa
The Hoover Institution - Hoover Institution
During the past fifty years, more than $1 trillion in development-related aid has been transferred from rich countries to Africa. Dambisa Moyo asserts, however, that this assistance has made African people no better off. "Africa's real per capita income today is lower than in the 1970s, with over half of the 700 million Africans living on less than a dollar a day."Eschewing the "glamour aid" of celebrities such as Bob Geldof and Bono, she argues that the key to transforming African countries is to make them less reliant on foreign aid and compel them to "enforce rules of prudence and not live beyond their means."