According to the World Bank, the global economic crisis may force donor governments to slash their aid budgets by up to 25 percent. If true, that would translate into a draconian cut of $30 billion. Red ink as far as the eye can see, long unemployment lines, and continued uneasiness in Europe could force donors to unsheathe the budget axe. Even if the World Bank is wrong, the years of historic aid increases are long gone. This couldn’t come at a worse time for developing countries and multilateral aid agencies.
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