Is Aid a Blessing or Cures for Africa?

Abstract

In Africa aid is a short term blessing that minimized the problem of trade deficit, budget deficit, gross capital formation, poverty reduction, aid lead economic growth, human capital development, foreign exchange stability and economic stability role in Africa and also tries to full fill humanitarian emergency need of Africa at a large. However, due to aid conditions and neo- colonial hidden objectives of aid donors even though 1trillions of dollar were spend in Africa for the last 60 year from rich countries still Africa is the home of millions poor and yet not realize sustainable  economic growth. So that, it is time for Africa tool look inside, to use its natural resource endowment and its land productively; avoid aid dependency culture; look for domestic source of revenue by expanding tax base and developing modern tax administration system; incorporate its endogenous knowable as part of its education, training, research and development areas; reduce waste and increase resource management and it must strengthen political, economic (like free mobility of labour, free trade area among Africans, establishment of domestic non government organization  and using common currency) and social integrations( like developing African common cultural center)  among its members countries; uses of domestically manufactured products, and reduce corruption and rent seeking activities of government officials; avoid predatory instructional set up and exercise democratic government system.

Keywords: Africa, Europeans aid, blessing /cures, review

DOI: 10.7176/JAAS/80-03

Publication date:May 31^st 2022