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Questions and StoriesCategory: Questions🏨Do You Support Your Current Status of Foreign Aid in Your Country?
Eli Davis Keinamura asked 1 month ago

🏨Do You Support Your Current Status of Foreign Aid in Your Country?

Most countries have been hit by debt burden after receiving foreign aid given by different governments and International Organizations. Most countries like USA, China, Germany, Japan, Britain, France and many others give foreign aid with foreign interest. Other International Organizations like World Bank, African Development Bank also give in the names of helping poor nations to move out of poverty. This aid is given in form of development aid i.e. building economic infrastructures like roads and power energy and social infrastructures like improving education and health services. There is also what is called emergency aid for emerging problems like drought, which leads to famine. COVID-19 has also escalated emergency aid, where most countries have applied for aid to mitigate the  social economic impacts of the disease. Most countries in Africa have applied for foreign aid or loans, what is the current status of foreign aid in your country and its effect on debt burden?

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16 Answers
Jackson Mugarura answered 1 month ago

As you have said foreign aid escalates foreign debt. I don’t support countries which give foreign aid to undemocratic countries, these loans are often stolen and misused by dictators. In case of my country, these Dictator’s have amassed a lot of wealth which they are using to abuse power and kill innocent people 😡. And I guess they are also stealing part of this foreign aid money.

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Eli Davis Keinamura answered 1 month ago

Foreign Aid is good especially if used for social infrastructure development.The main challenge of foreign aid is the strings attached to it.Eg a country may give aid to Uganda to construct a road ,and put up conditions for qualifying for aid like contractor and all supplies have to come from where aid is coming from.

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Steinar Kloverod answered 1 month ago

My country Norway gives about 1% of the natons gross domestic product in foreign aid.  It is billions of norwegian kroner (name of our currency).  Norway have not any debt burden,  but have a oil fund called the pension fund.  The fund is about 10000 billions of kroner.  That is about 1000 billions of american dollar.  Norway have the possibility to save money like this because the country is an oil nation.

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Ahmad Khasan answered 1 month ago

I am not a fan of foreign aid or foreign direct investment. Most of the time, these foreign money types come with many obligations that my country should fulfil. Furthermore, in foreign direct investment, the investment seems only to take advantage of our natural resources because there is no technology transfer, the higher executives are filled with the foreigner.

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Ahmad Khasan answered 1 month ago

Hi, Mr Steinar.
 
It seems that you have many experiences in the public sector that is worth to share with us here in the Luckscout Club. Great to see how Norway is debt-free and has a pension fund worth $1 Trillion.
 
In the case of 1% GDP allocated for foreign aid, which countries are receiving that fund?

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Kenneth Ogbonnaya answered 1 month ago

Is not my concern… Foreign currency or nor foreign currency, all I know is let have a better country

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Kenneth Ogbonnaya answered 1 month ago

Is not my concern… Foreign currency or nor foreign currency, all I know is let have a better country

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Leno Jean Pierre answered 1 month ago

It is a aid, but if you dig deeply you will figure out that it is a debt, we have to pay it back sooner or later.
A kind of obligatory debt.

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adharad answered 1 month ago

I agree. But I see that Indonesia has too much foreign debt because it often asks for foreign aid

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Kenneth Ogbonnaya answered 4 weeks ago

No, I don’t support it

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Leno Jean Pierre answered 3 weeks ago

It is not a aid, it is a strategy to colonize countries and do whatever they want. Let take a simple example:if i owe you $200000,then you come to me and ask me something i have. do you think i will to give you that thing even if it is not good for me? It is a kind of corruption, i don’t support it.

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Jackson Mugarura answered 3 weeks ago

Foreign aid is like a corona virus. We don’t need it in our country with it’s attached strings. To hell with foreign aid.

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Leno Jean Pierre answered 3 weeks ago

Yes Mr Jackson, if i were a leader in my country, i would not accept such aid.they give aid with a condition behind that we must do.

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Kenneth Ogbonnaya answered 3 weeks ago

I don’t care about that.

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Jackson Mugarura answered 3 weeks ago

I think governments should rethink about foreign aid. It always has strings attached like Chinese aid. The Chinese have another hidden agenda.

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Leno Jean Pierre answered 3 weeks ago

The government is corrupted, the know exactly what is behind this aid, but the can not do anything because they will receive their portion of money.

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