Debt and Development

Debt and Development - Olivia Kehoe INTD 200 TA Mahdi Theme...

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Unformatted text preview: Olivia Kehoe INTD 200 TA Mahdi Theme 2: Official Development Assistance: Debt and Development National Development Agencies and Bilateral Aid By Stephen Brown Aid Terminology Bilateral aid : direct government to government aid Multilateral aid : funds channeled through multilateral organizations, like the UN Official Developmental Assistance: referred to as ODA. ODA is the flows of official financing administered with the promotion of economic development and welfare of developing countries as the main objective. There is controversy over what should be included in ODA; for example, forgiving or canceling loans boost ODA numbers without the donor country actually spending money. Development Assistance Committee [DAC] : this is a donors club that unites countries that provide foreign aid. They distribute information about their aid to the OECD. Not all donors are in the DAC, but most are. Tied Aid : ODA that is conditional on the purchase of goods and services from the donor country. This practice has been mostly abandoned. Trends Aid rates fluctuate over decades: total aid slowly increased through the 1960s, rapidly increased in the 1970s, slowed in the 1980s, went through aid fatigue in the 1990s and rose dramatically after 2000....
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Debt and Development - Olivia Kehoe INTD 200 TA Mahdi Theme...

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