Sustainable Development Goals
I support Moyo’s argument on aid-dependency for sustainable development. Jeffrey Sachs argues that private sector involvement and free market solutions are the only durable path to long-term growth. He believes that all developed countries did not rely on aid to achieves their sustainable development goal as dependency on aid is attached to debt burden, inflation, corruption, and disenfranchisement. Moyo supports the dependence on aid for sustainable development but discourages African countries from relying on long-term aids because, as argued by Jeffrey, creates more challenges that affect development.
According to Moyo, Sachs discourages aid-dependency because it is not practical. He refers to the African government as “helpless victims of geography” that mismanage aid, hindering development[1]. Similarly, Easterly believes poor governance distracts economic development. I support the argument because the poor government will likely blow funds and favor some sectors. Although developing countries need financial assistance for sustainable development, the aid should be short term as long-term aid creates more harm than good. Moyo’s arguments are stronger because they focus on the negative and positive impact of financial aids.
Sustainable development goals target to provide an improved and more advanced future for a nation. Globally, there are 47 least developed countries (LDCs) that rely on developed countries for growth. Most LDCs have the fastest growing population and low productivity, thus reducing the employment rate. Despite having a sustainable development goal, developing countries must rely on financial assistance from developed countries. The intergovernmental committee provides sixty-six billion dollars annually to eradicate extreme poverty and seven trillion dollars for global infrastructure improvement. However, developing countries should manage funds received to prevent long-term dependency on aids, leading to more complications.
Reference
Witherspoon, Gerald. “The Development Debate between Sachs, Easterly, and Moyo.” Online Journal of International Relations 2014. August 02, 2016. Accessed September 23, 2020. https://geraldfwitherspoonsr.wordpress.com/2016/08/02/the-development-debate-between-sachs-easterly-and-moyo/.