Foreign aid in perspective April 19, 2009
Posted by thetruth31 in World Affairs.Tags: Foreign Aid, Global Comparisons
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Giving more generously (March 31st, 2009 – Economist.com)
RICH countries in the OECD’s Development Assistance Committee gave $119.8 billion in foreign aid last year, according to preliminary estimates released on Monday March 30th. This is over 10% more than in 2007 and is the highest amount ever given. The 22 countries in the DAC devoted an average of 0.47% of GDP to aid, up from 0.45% in 2007, though this is still considerably below the United Nations target of 0.7%. Despite the plight of the global economy, the OECD expects that aid will continue to grow, reaching $145.1 billion (in 2008 terms) in 2010.
I suspect the US was first in overall aid, and probably by a large amount. I also think George Bush set a record in either 2007 or 2008 for the most foreign aid every donated in absolute terms by any one country.
Still, I think the US should increase foreign aid. But should also be more careful that the dollars are being used efficiently.