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Africa's Dependence on Foreign Aid - The Two Sides of The Same Coin!
United State of America in 2015, provided more than $8 billion in assistance to 47 sub-Saharan countries; and USAID maintains 27 regional and bilateral missions in Africa. ... As of March 2014, 20 African countries carried foreign debt of nearly $390 billion.
As much a lot has been said with regards to Africa's dependence on aid money, Foreign Aid is not all doom and gloom. The problem with development and advancement of Africa is deeper than where the money is coming from.
In Rwanda, Foreign Aid represents 30% to 40% of annual budget and Rwanda as a country is one of the fastest growing economies in Central Africa, Rwanda notched up GDP growth of around 8% per year between 2001 and 2014.
The World Bank says Rwanda’s economy is vulnerable to fluctuations in foreign aid – growth fell to 4.7% in 2013 after some donors withheld aid over allegations in a 2012 UN report that the government was backing rebels in the Democratic Republic of Congo.
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By Africa Business RadioUnited State of America in 2015, provided more than $8 billion in assistance to 47 sub-Saharan countries; and USAID maintains 27 regional and bilateral missions in Africa. ... As of March 2014, 20 African countries carried foreign debt of nearly $390 billion.
As much a lot has been said with regards to Africa's dependence on aid money, Foreign Aid is not all doom and gloom. The problem with development and advancement of Africa is deeper than where the money is coming from.
In Rwanda, Foreign Aid represents 30% to 40% of annual budget and Rwanda as a country is one of the fastest growing economies in Central Africa, Rwanda notched up GDP growth of around 8% per year between 2001 and 2014.
The World Bank says Rwanda’s economy is vulnerable to fluctuations in foreign aid – growth fell to 4.7% in 2013 after some donors withheld aid over allegations in a 2012 UN report that the government was backing rebels in the Democratic Republic of Congo.
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This episode is sponsored by
· Anchor: The easiest way to make a podcast. https://anchor.fm/app