Argument: International aid is frequently funneled into corruption and misused
- Rev. Gerald Zandstra giving the keynote address at the Acton Institute’s annual Chicago luncheon. - "This is a true story: I was in Kenya a couple of years ago before the elections, and President Moi, who had been long-term president of Kenya was still in office - he was about to be term-limited out - and he was speaking in the hotel where I was staying. And I thought oh, this is fascinating - I’ve got to sneak in, I’ve got to hear this speech! He gave a remarkable speech. He said - you know, the IMF and the World Bank are demanding that we repay the three billion dollars that we have borrowed from them, but I look around Kenya and I don’t see that we are three billion dollars better off. And until somebody from the IMF and the World Bank can come here and show me how we are three billion dollars better off, I say we don’t pay one thin dime. And of course the crowd went 'hooray,' and I thought I’m going to try this with a home improvement loan when I get back! 'You gave me 25 grand, I was going to fix up the kitchen, but I went to Vegas, and... and I don’t know where the money is. And I shouldn’t have to repay it because my kitchen still looks the same.'
- When Moi was put out of office, do you know how much his personal assets were? 3.3 billion, which means that he invested it fairly well. 3.3 billion are his direct, provable assets. And yet Bono is traveling the world highlighting the problem but yet also highlighting the exact solution that has only exacerbated the problem."
- Richard Posner, United States Court of Appeals Judge for the Seventh Circuit. "Foreign Aid to Sub-Saharan Africa." July 11, 2005 - "I do not favor foreign aid, debt relief (which is simply another form of such aid), or other financial transfers to poor countries, in Africa or anywhere else. Countries that are not corrupt do not require foreign aid, and foreign aid to corrupt countries entrenches corruption by increasing the gains to corruption. Foreign aid to Zimbabwe, for example, will simply prop up dictator Mugabe....But it is unlikely that the poorest people in these countries will benefit from the extra money; even if most of it isn't skimmed off by corrupt officials or squandered on dumb projects, it is likely to stave off fundamental political and economic reforms."