Attend Spring Meetings on Development topics from Apr 17-21. Comment and engage with experts. Calendar of Events

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Dambisa Moyo's book has often been misunderstood and simplified. It does not just suggest the end of aid but its rapid replacement by more trade, more direct investment, more use of remittances and local financing and, yes, better use of resources. I think there is a compelling argument in this book: aid has very often been granted to governements who do not respect their word. The donors moan, but then they continue to give. This transforms aid in a kind of tax, a tax on which the governements are accountable to nobody. This is a very vicious circle.