What future for aid and development? With Minouche Shafik
02/27/25 • 32 min
US President Donald Trump has frozen all foreign aid payments, while Elon Musk is putting America’s biggest development agency, USAID, “through the woodchipper”. Meanwhile, the UK government has just announced it will slash its aid budget from 0.5% to 0.3% of GDP. So are the days of generous programmes to promote health and education in the poorest nations now over? And should we fear that rising authoritarian powers, most notably China, are stepping into the breach with their own funds and parallel institutions? In an interview recorded just before the UK’s announcement, Alan Beattie speaks to economist Minouche Shafik, who is a veteran of the international development scene. She has worked at the World Bank, IMF, and the UK’s Department for International Development. And she is not optimistic.
Alan writes the Trade Secrets newsletter. You can sign up here. He is on Bluesky at @alanbeattie.bsky.social.
Subscribe on Apple, Spotify, Pocket Casts or wherever you listen.
Presented by Alan Beattie. Produced by Laurence Knight. Manuela Saragosa is the executive producer. Audio mix and original music by Breen Turner. The FT’s head of audio is Cheryl Brumley.
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
US President Donald Trump has frozen all foreign aid payments, while Elon Musk is putting America’s biggest development agency, USAID, “through the woodchipper”. Meanwhile, the UK government has just announced it will slash its aid budget from 0.5% to 0.3% of GDP. So are the days of generous programmes to promote health and education in the poorest nations now over? And should we fear that rising authoritarian powers, most notably China, are stepping into the breach with their own funds and parallel institutions? In an interview recorded just before the UK’s announcement, Alan Beattie speaks to economist Minouche Shafik, who is a veteran of the international development scene. She has worked at the World Bank, IMF, and the UK’s Department for International Development. And she is not optimistic.
Alan writes the Trade Secrets newsletter. You can sign up here. He is on Bluesky at @alanbeattie.bsky.social.
Subscribe on Apple, Spotify, Pocket Casts or wherever you listen.
Presented by Alan Beattie. Produced by Laurence Knight. Manuela Saragosa is the executive producer. Audio mix and original music by Breen Turner. The FT’s head of audio is Cheryl Brumley.
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
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Martin Wolf is chief economics commentator at the Financial Times. You can find his column here
Subscribe to The Economics Show on Apple, Spotify, Pocket Casts or wherever you listen.
Presented by Martin Wolf. Produced by Laurence Knight. Manuela Saragosa is the executive producer. Audio mix and original music by Breen Turner. The FT’s head of audio is Cheryl Brumley.
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
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