Foreign-Aid Addiction

DOUG BANDOW

FOREIGN AID is very much in vogue these days. And virtually every new aid proposal envisions a central role for the International Monetary Fund (IMF). The G-7, for instance, expects the IMF and World Bank to provide $4.5 billion of its $24-billion aid program to Moscow. Even national review seems to accept the value of IMF aid, merely suggesting [“The Week,” May 25] that we “keep our eye on how the IMF does the job.” Alas, our past forty years of keeping an eye on the Fund has done nothing to improve its performance.

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DOUG BANDOW

FOREIGN AID is very much in vogue these days. And virtually every new aid proposal envisions a central role for the International Monetary Fund (IMF). The G-7, for instance, expects the IMF and World Bank to provide $4.5 billion of its $24-billion aid program to Moscow. Even national review seems to accept the value of IMF aid, merely suggesting [“The Week,” May 25] that we “keep our eye on how the IMF does the job.” Alas, our past forty years of keeping an eye on the Fund has done nothing to improve its performance.