The Abuse of Foreign Aid in Africa

Volume 2 1987

The Organisation for Economic Co-operation and Development has calculated that the net transfer of financial resources (both concessional and commercial) from Western nations to “the less developed nations” between 1956 and 1982 exceeded $670 000- million. Adjusting for intervening inflation, this OECD estimate would be valued at over $1 500 000-million.
(Commentary Magazine, March 1985) (Article by Nick Eberstadt)

That is enough money to buy out all the stocks and industries listed at the New York Stock Exchange! Yet what good has foreign aid done in Africa, aside from line the pockets of corrupt local officials, fill the Swiss bank account of dictators and life-presidents, and build prestige airports for the one to two planes a week that land at some banana republic’s “international airport”?