In 2005, Mr. Gordon Brown's brought up plan of action to aid lessen poverty and boost economic development in Africa. The three indispensable elements of 2005 development plan were to:
(a) Deliver full debt relief for debt burdened countries;
(b) Deliver the first world trade round in history which benefits the poorest countries and ensure they have the capacity to benefit from new trade; and
(c) Increase development aid to 0.7 per cent of national income and implement new international finance facility to offer immediate, predictable, long term assist for investment and development - build on commitments by individual governments, leverage in additional funds from the international capital markets, raise an additional $50 billion a year each year for the next ten years, effectively double assist to halve poverty.
problem1. To what extent is this plan significant in having any lasting effect on potential for economic development in developing countries?
problem2. describe the development characteristics of poor economies.
problem3. Why do donor countries provide foreign aid?
problem4. Evaluate the strength of Human Development Index as accurate measure of standard of living in country.