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Foreign aid deemed counterproductive.


"Aid inflows have systematic adverse effects on a country's competitiveness."

In a report published by the International Monetary Fund
International Monetary Fund (IMF)
An organization founded in 1944 to oversee exchange arrangements of member countries and to lend foreign currency reserves to members with short-term balance of payment problems.
, Raghuranm Rajah and Arvind Subramanian conclude that foreign aid foreign aid, economic, military, technical, and financial assistance given on an international, and usually intergovernmental level. U.S. foreign aid programs have included at least three different objectives: rehabilitating the economies of war-devastated countries, strengthening the military defenses of allies and friends of the United States, and promoting economic growth in underdeveloped areas. from the United States generally does not help poor countries but ends up in the hands of bureaucrats.
COPYRIGHT 2006 American Opinion Publishing, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Title Annotation:Raghuranm Rajah and Arvind Subramanian
Author:McManus, John F.
Publication:The New American
Article Type:Brief article
Geographic Code:1USA
Date:Jul 10, 2006
Words:46
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