Stephen Lewis on International Aid & Debt


International Aid

Lewis notes that subsidization of American and EU farmers costs 5 times the amount of foreign aid being given to African nations. This means that the EU gives their cows $2.50 USD per day where as Africans live off of less than $1.00 per day. The totalitarian regimes in Africa prevent G8 Nations from acting to aid the pandemic of AIDS in Africa, according to Lewis.

The Scourge of Debt

In 1988, the developing country ambassadors were skeptical of the economic growth through trade and a fair agreement at the Uruguay round of discussion. Other than trade, the African debt is also a massive setback. African countries are spending much on debt reduction and therefore can’t get healthcare. Because of Totalitarian regimes, African had 294 Billion dollars of debt from 1970-1992. Africa paid back 260 Billion mostly of interest. Africa is still 230 Billion dollars in debt. Africa is forever in a cycle of debt reduction. The Pentagon wrote-off 31 Billion dollars of debt in Iraq post-2003. They should be able to do the same for African nations.

Leave a Comment

Your email address will not be published. Required fields are marked *

*