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• Public Debt: 228.3% of GDP.
• Debt (external): $3.129
billion.
• Malawi's economy relies on
assistance from outside
agencies such as the World
Bank and is heavily
dependent on agriculture.
However the government
aims to improve the growth
and development of business
and promote
industrialisation.
• According to an investigation by BBC Radio Five Live, DfID donated
£3m to Malawi relief projects. Of that cash, £586,423 was spent on
hotels for a US consultancy agency, the National Democratic Institute.
Another £126,062 was allegedly spent on meals.
• So far, the single biggest donor to WFP’s operations in Malawi has been
the Government of Malawi, which received significant support from
Britain and the European Commission.
• Another US group, called World Learning, was hired to distribute £4m
of British money in Malawi, but the project called the Tikambirane
Programme was cancelled after six months, at a cost of £300,000.
•
The 1970s was a relatively good economic period in Malawi, with fairly high GDP
and investment growth. However, there was excessive recourse to foreign loans
to finance prestige projects and enterprises, leading to debt-service default.
•
Thus in the 1980s fiscal management and economic conditions worsened, partly
triggered by a series of external shocks (terms of trade and war in neighbouring
Mozambique), debt and poor domestic policy. The country has since repeatedly
resorted to supplementary budgets, and domestic borrowing increased to cover
excess expenditures.
•
The development budget has been largely donor-financed, but its composition
has changed throughout the years as recurrent spending items are increasingly
allocated to the development budget. Similarly, the recurrent budget entails
items that one would expect to find in the development budget. The
classification of the budget has therefore been more institutional than strictly
economic.
• Public Debt: 21.3%
• Debt External: $160
•
billion.
Economic Aid Donor:
$334 million.
•
•
The story of Korea's economy, is one of success. After the Korean War
(1950-53), Korea was left with a shattered, agrarian economy. From this
beginning Korea went on to achieve miraculous economic success. Growth
accelerated in the sixties and by the 1980s the Korean economy was
booming. However, in 1997 Korea suffered an economic set-back and needed
financial assistance from the International Monetary Fund. By the beginning
of the millennium Korea's economy was back on track.
• During the 1966-74 period, foreign assistance constituted about 4.5
percent of GNP and less than 20 percent of all investment. Before 1965 the
United States was the largest single aid contributor, but thereafter Japan
and other international sponsors played an increasingly important role.
The fact that South Korea was so dependent on foreign trade made it very
vulnerable to international market fluctuations.
•
The government and private industry received funds through commercial banks,
the World Bank and other foreign government agencies. In the mid-1980s, total
•
direct foreign equity investment in South Korea was well over US$1 billion.
Of the total direct investment in South Korea from 1962 to 1986, which
amounted to US$3.631 billion, Japan accounted for 52.2 percent and the United
States for 29.6 percent. In 1987 Japan invested US$494 million, or 47 percent
of the total foreign investment of US$1.1 billion. Japan invested mainly in hotels
and tourism, followed by the electric and electronics sector. Direct investment
from the United States showed a remarkable increase since the early 1980s,
accounting for 54.4 percent of the 1982-86 total investment. The United States
invested a total of about US$255 million, or approximately 24 percent of the
1987 investment. Cumulative United States investment was about US$1.4 billion
by 1988.