Browsing: International aid

• International aid and loans to Africa are based on a false (mathematical) statement; Africa needs development aid – False.
• Net financial flows to African countries dropped 18% (2020/22) -True.
• Africa paying more to service debts than development aid it recieves – True.

U.S. President Donald Trump’s aid cuts will fatally affect developing countries where millions of people rely on the aid for their livelihoods at a time when huge debt servicing costs pose even worse effect on their lives. “Analysis also finds growing debt service payments are rapidly outpacing aid and investments in all developing countries,” reveals a One Campaign report.

Titled, ‘Net finance flows to developing countries turned negative in 2023’ the report warns that; “Developing country debt levels have more than doubled since 2009, and the cost of servicing that debt has skyrocketed.” According to the report; “African countries are projected to spend $81 billion on debt …