What kind of support should developed countries and international organizations be providing?
Hernando de Soto: Most developing countries must seek solutions to their current problems internally. There are figures indicating that most of the resources that are necessary for developing countries exist within the countries themselves. For example, my institute has produced figures indicating that worldwide, the excluded or the poor in developing countries have over 40 times more assets than all World Bank loans since its inception. And they have 50 to 60 times more assets than all foreign aid given by developed countries since the end of the Second World War. Thus what developed countries can provide in terms of material resources or political resources is truly marginal. There is very little they can do aside from putting in conditionality and incentives into their aid and loans. That said, I think that developed countries can do more to raise awareness of the problem. There is a tendency for them to think that concrete things like building materials are more important than the
Related Questions
- Where can I find information on the amount of U.S. foreign aid to various countries and international government organizations?
- What kind of support should developed countries and international organizations be providing?
- What is the role of international organizations and foreign countries in this matter?
