So, although Africa looks like it might be okay in the immediate future while the rest of the world collapses, there is a possibility that foreign aid will be affected; ‘there is also a danger that foreign aid might decline. But that’s based on two other events. One is that there’s a major recession in the US and Europe, or in the donor countries. And second, whether the spending allocations that governments make will lead to cutbacks in foreign aid.’ Shanta Devarajan, Chief Economist of the World Bank’s Africa Region, BBC.
Yes, there is a major recession and it look like promises made by the G8 are not on track, according to the DATA report, 2007, (pdf link).
If there is a dramatic decrease in foreign aid in the near future, now is the time to seriously think about alternatives. As the saying goes, necessity is the mother of invention.
Posted by email from Design in Africa (posterous)