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The fact that foreign aid as currently practised has failed to achieve its poverty reduction targets in Africa is clear from the data. Over 75% of the world’s poor live in Africa today. In 1970 the figure was 10%. Some forecasts suggest it could rise to 90% by 2030. Africa is the only continent in the world where official aid inflow outstrips private capital inflow by a large margin. This is problematic since no country in the world has achieved substantial development based on reliance on aid. This points to the need for reform. One is that Africa’s aid-dependent economic model provide...

Washington Consensus is not dead Pakistan should open economy, adopt market-oriented policies ISLAMABAD: On April 23, 2021, The Express Tribune published a statement of Minister for Planning and Development Asad Umar. He said: “Washington Consensus is not even implemented in Washington and the idea of free market without government regulation is buried.” This gives the impression that the Washington Consensus is a failed idea and has not worked in supporting economic growth and prosperity. In this article, I argue this is not the case as the Washington Consensus is still thriving and prov...

Carnegie Endowment for International Peace Source: Getty Summary:  Many African countries have placed economic diversification high on the policy agenda, yet they first need to define what it means in their specific structural and socioeconomic contexts. Related Media and Tools If you enjoyed reading this, subscribe for more! Thank you! Summary For decades, economic diversification has been a policy priority for low- and middle-income economies. In the words of former managing director of the International Monetary Fund (IMF), Christine Lagarde, “We know that economic diversification is go...

(3 votes) “Humanity’s special place in the cosmos is one of abandoned claims and moving goalposts.”  — FRANZ DE WAAL Together Francis, the Merciful, and his UN sidekick,  Jeffrey Unsustainable Sachs concocted the Vatican’s support of the UN Sustainable Development Goals (SDGs).  Francis endorsed the 17 UN Sustainable Development commandments believing they were the gateway to heaven on earth. Included in the sustainable manifesto was goal 8.7, which promised the eradication of global human trafficking. In the United Nations, promises are made, promises broken. Goals set; goals mo...

JENNIFER FARNSWORTH The Leader-Herald JOHNSTOWN — Fulton Montgomery Community College Board of Trustees Chairman Geoffrey Peck wasted no time in congratulating the college’s new President, Greg Truckenmiller, along with the newly appointed Provost and Vice President for Academic Affairs, Diana Putnam. The board gathered for April’s business meeting last week and collectively echoed the sentiment that they are excited about what the pair brings to the college. Both Truckenmiller and Putnam bring years of experience working at FMCC. “Congratulations of course to both Greg and to Diana...