Essay: Misuse of Funds by Developing Economies

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Essay: Misuse of Funds by Developing Economies

Sample Essay

Poor economic conditions are most likely to encourage receiver nation to divert the same funds to other economic activities they feel important. To secure such funds, these countries may agree with the preconditions and there after abandon the project, further frustrating the efforts.

Therefore, donor nations should focus on openly providing the money without attached conditions to dispel any suspicion and insincerity as developing nations would do anything to secure these monies. Poor economies have also been reportedly misused such funds. For instance, According to IMF Statistics (dated 28 February 2001), Maldives with a total population of 251,000 misused funds intended for environmental preservation opting for projects such as health. This kind of turn around will always persist whether or not donor countries set condition for environmental aid hence they are irrelevant.

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