Foreign Aid – Give and Take

by The Madhatters

Earlier in the year, UK foreign aid to India came under scrutiny – with some questioning the need to give India £280 million a year for 5 years, when the country’s economy is booming and it is developing it’s own space program

http://tinyurl.com/84vj89f

In a related twist, India’s Prime Minister Manmohan Singh is being criticised by . . .opposition MPs for donating $10 billion to the IMF Bailout Fund to help struggling European economies

http://tinyurl.com/6rbrtfb

So, we’re giving India £1 billion (spread over 5 years) to help them out – and India is giving £10 billion to the IMF to help us and other European countries out?

I guess one needs to be an economist (or a politician) to see the sense in this ?

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3 Comments to “Foreign Aid – Give and Take”

  1. It makes perfect sense once you understand that the UK donation is to support poor people, whereas the Indian donation is to support rich people.

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