So much corruption exists in the world of foreign aid to 3rd World nations that critics have coined a name for the phenomenon: Phantom Aid.
October 14, 2021
In 2020, the Trudeau government increased Canada’s official foreign development assistance by 7.7%. The 2021 federal budget announced an additional $1.4 billion for international assistance over the coming five years.
According to the Liberal government’s own data, Canada’s foreign aid budgets involve transferring funds to the World Bank, International Monetary Fund and African Development Bank.
From 2003 to 2020, the World Bank’s Doing Business Report(DBR) was generally seen as a trusted measure of how business is conducted around the globe. Yet, according to former World Bank senior manager Paul Cadario, there has been controversy about the DBR’s methodology since its inception. China is a major shareholder of the World Bank and therefore has considerable financial leverage over it.
“The DBR was discontinued this year , after data irregularities in its 2018 and 2020 editions suggested that China, as well as a few other autocracies, were given unfair bumps.”
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