[afro-nets] G8 cancels debt of the world's poorest countries (7)

[Robert M. Karanja <rkaranja@NAIROBI.MIMCOM.NET>]

G8 cancels debt of the world's poorest countries (7)
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I was disappointed to learn that the much publicised cancella-
tion was loaded with many conditionalities for the qualifying
countries to meet. Many of them obviously designed to make the
countries compulsory markets of the same G8. Rather than push
for such cancellations why don't we advocate for a renegotiation
of the aid? A recent report by ActionAid (UK) showed that on av-
erage 70-90% of all aid is "phantom" aid, with much of the money
being recycled into the donor country's economy, again through
conditionalities attached to the aid. We should only pay the 10-
30% that actually goes into the country. FYI, the grand corrup-
tion that is reported in Africa is when our leaders divert the
measly 10-30% of actual aid. No wonder the donors have always
looked the other way!


Robert M. Karanja
mailto:rkaranja@nairobi.mimcom.net