Thesis: Foreign Aid To Sub-Saharan Africa

Thesis: Foreign aid to Sub- Saharan Africa is/ has been detrimental for its development. Much of Africa has not realized any meaningful development for the last decades in spite of many countries in that region of the global getting substantial foreign aid for their development projects over time. The authors of this article argue that foreign aid to Africa has in fact been detrimental to many countries in their efforts to gain good governance and build strong state institutions. It is undeniable to argue otherwise that poor institutions, lack of accountability and weak rule of law are have contributed to poor development in most countries in Africa. However, other factors such as political instability, civil wars, high debt ratios and the lingering effects of colonialism have negatively impacted the development agenda in sun Saharan …show more content…
As a matter of fact, civil servants in some of these countries did not get their salaries on time thereby making them quit their jobs and do other things such as farming and hence, most governments lost technical employees such as accountants or tax collectors and thus, no taxes were collected while these governments offered free services to their people in some ways. The Stiglitz verdict argues that the process of globalization has not benefitted all and hence, he argues that one financial model cannot fit all countries. Powerful nations control global politics and economics and they work to protect their wealth and power at the expense of the rest. Moreover, he argues that markets are meant to facilitate free exchanges of goods and services but they can’t on their own take care of collective needs such as maintaining the market mechanism or law and