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The idea of cash transfers—or just giving money to the poor—is gaining ground quickly. The use of conditional cash transfers as a way to assist the poor have shown pretty impressive results in Mexico and Brazil, leading to lots of other copycat programs in dozens of countries. Iran, and now India, are replacing inefficient and costly subsidies of basic goods with cash payments.
The cash-transfer model involves a leap of faith: the bet that people know better than bureaucrats how to use their money. This has made direct payments politically attractive to both the populist left and the libertarian right. What better way to push "power to the people" than to give them the money that was the source of elite dominance and corruption in the first place?
CGD blog posts reflect the views of the authors, drawing on prior research and experience in their areas of expertise. CGD is a nonpartisan, independent organization and does not take institutional positions.
The US Department of the Interior announced last week that the United States would no longer seek to comply with the Extractive Industries Transparency Initiative (EITI), an international multi-stakeholder organization that aims to increase revenue transparency and accountability in natural resource extraction. The move—while disappointing—is not altogether unexpected. And sadly, it will put the United States further behind the curve when it comes to corporate transparency.
If transparency in debates around matters of natural resource wealth, then so too does the way that figures get translated into public debates. Earlier this month the Lusaka Times published a claim that multinational mining companies were “robbing Zambia of an estimated $3billion annually through tax evasion and illicit financial flows.” I have written about the Zambia Copper Billions before. I don’t think the figure is at all credible, and I am not the only one. Organisations that have allowed this myth to spread have not done any favours to the people of Zambia, and they have a responsibility to put it right.