By Ntsoaki Nkoe
MASERU, Lesotho (IDN) – Research indicates that the African continent as a whole receives roughly 50 billion dollars of international aid each year – yet instead of drastically improving the living conditions of those living below the poverty line, this aid often makes the rich richer, the poor poorer and hinders economic growth, not to mention catalysing the vicious cycle of corruption.
Economist Dr. Moeketsi Majoro – former Minister of Economic Planning in Lesotho who has also worked at the International Monetary Fund (IMF) – believes that after the many mistakes made in aid operations, donor countries have now learned lessons about how their generosity had been turned into supporting dictatorships, undermining domestic economic activity and creating dependencies.