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28. 50 years of Broken Promises: The $5.7 trillion debt owed to the poorest people

Author

Seery, Emma

Subjects
Aid
Abstract

This year marks an historic chapter in the story of international aid. On 24 October 2020, it will be 50 years since high-income countries committed to spending 0.7% of their gross national income (GNI) on aid to low- and middle-income countries., This paper examines how aid has helped to improve the wellbeing of people in low- and middle-income countries. It discusses how donors’ broken promises on the 0.7% target have limited the potential of aid to reduce poverty and inequality. Oxfam has calculated that in the 50 years since the 0.7% promise was made, high-income countries have failed to deliver a total of $5.7 trillion in aid. Finally, this paper reflects on the future of aid.

Published
2020
Full Text
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41. Rigged Rules and Double Standards: Trade, globalisation and the fight against poverty

Author

Watkins, Kevin and Fowler, Penny

Subjects
Private sector, Trade
Abstract

In an increasingly market-led global economy, prosperity has been created in some parts of the world while poverty continues to claim livelihoods in others. This dichotomy according to this report is created by the unfair rules that govern this global interaction called trade. The human cost of unfair trade are immense. The report states that if Africa, East Asia, South Asia and Latin America were to each increase their share of world's export by one percent, the resulting income gains could lift 128million people out of poverty. Rich country governments put up severe trade restrictions in form of tariff barriers that are four times higher than those faced by the rich countries themselves. The paper gives an in-depth analysis of the injustice inherent in current international trade rules and seeks to expose the effects of these on the poorer countries of the world. Based on extensive literature review of background research papers and use of secondary data from diverse sources, the report concludes that trade rules need to be adapted to accomodate the poor.

Published
2002