“In this Occasional Paper, a distinguished scholar and diplomat, Frederick S. Arkhurst, has carried out a penetrating analysis and critique of foreign aid and its direct impact on development in the Third World. He concludes that development is possible without aid. The author is of the view that, far from fostering development, foreign aid has become an addiction which has not led to real development, but has resulted in “seemingly perpetual dependency.” He deals with the economy of Ghana under Structural Adjustment, the free fall in the value of the Cedi, and poverty alleviation. It is the hope that this paper will make stimulating reading for those who are interested in the impact of foreign aid on development.”
