Monday, November 28, 2011

Africa wants more say in aid spending

Recently, Africa turned the tables by insisting that "aid effectiveness" should become "development effectiveness" and it looks like it has won the debate. This is not a matter of semantics. Africa insists Africa should lead in decisions about where, how and when aid should be applied. It also insists that "no country in the world has developed by targeting poverty", which has been the predominant tendency in foreign aid. Africa’s new confidence in the international arena also comes from new developments on the continent. First, there has been a substantial improvement in financial governance. Second, most commodity prices have risen a great deal on international markets, accounting for impressive growth. Third, there are new partners in China, India and Brazil, whose economies are thirsty for Africa’s resources. Full report available on the NEPAD website.

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