Word: moyo
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...economists and political leaders, the aid shortfall isn't necessarily the most critical problem. A fierce debate is playing out among aid and government officials about whether money for Africa is even worth it - ignited largely by the best-selling book Dead Aid, written by the Zambian economist Dambisa Moyo, who argues that $1 trillion in Western aid during the past 50 years has left the continent more poor and dependent. Her sentiments were echoed by Rwandan President Paul Kagame, who wrote in the Financial Times last month that "as long as poor nations are focused on receiving aid, they...
Dead Aid By Dambisa Moyo FSG; 188 pages...
Poor Africa. It's both the literal and figurative meanings of that phrase that gall Dambisa Moyo. A Zambian-born, Harvard- and Oxford-educated economist who worked at Goldman Sachs for almost a decade, Moyo is particularly angry at the way overly solicitous Western financial aid has made Africa's "poor poorer." As she writes, "The notion that aid can alleviate systemic poverty ... is a myth." That $1 trillion-plus the U.S. has poured into Africa? Mostly useless. All that Bono-supported "glamour aid"? Somewhat insulting. The truth, Moyo argues, is that massive foreign aid encourages corruption and stifles...
President Robert Mugabe reopened Zimbabwe's Parliament on Aug. 26 to the jeers and chants of opposition members reveling in the election of their candidate, Lovemore Moyo, to the key post of Parliament speaker and their first (razor-thin) plurality since Mugabe took power in 1980. In an attempt to reassert control over the poverty-stricken nation, Mugabe announced he would form a new government without the opposition party led by Morgan Tsvangirai, who bested the despot in March elections but sat out a June runoff vote, citing violent intimidation of his supporters. Power-sharing talks between the two parties...
Some ordinary Zimbabweans are no less defiant. In Warren Park, a western suburb of Harare, Mugabe's election posters have been defaced with messages such as MUGABE IMBAVHA (Mugabe is a thief) and HAULUME BOB (You won't get anything, Bob). Moyo remains determined. "I'm going to ask my wife and son to carry me to the polling station on June 27," he tells TIME. "I believe Zimbabwe will be free one day. I will exercise my right and continue to support the party of my choice." Zimbabwe's rulers may be dispensing with the pretense of democracy...