Economic of Development — Fifth editionQuestions:1. Why foreign aid works well in some countries while it fails miserably in some others?2. Foreign debt (borrowing) can be instrumental in the...

Economic of Development — Fifth editionQuestions:1. Why foreign aid works well in some countries while it fails miserably in some others?2. Foreign debt (borrowing) can be instrumental in the development process. Why many of the LDCs are strapped with heavy foreign debts and are unable to repay?3. If an LDC receives foreign aid while also borrows heavily from international financial institutions or friendly government, how should the available financial resources be deployed for constructive development?Information for questions:Foreign Aid1.Munk Debates: Stephen Lewis argues against the motion. (6:50) https://www.youtube.com/watch?v=WClqi4Yr3Ys2.Hernando De Soto Argues in favour of the motion. (7:45) https://www.youtube.com/watch?v=hEtelIN_MvA3. Dambisa Moyo argues in favour of the motion. (8:26) https://www.youtube.com/watch?v=enDmHgJC4eY4. Why Africa can’t depend on aid forever and doing business in Africa? (4:17) https://www.youtube.com/watch?v=VKf6p1_ebUo5.Stephen Lewis’ closing argument. (4:21) https://www.youtube.com/watch?v=5Ncuk75XoEIForeign Debt/borrowing1. Martin Khor Debt in the Developing World Part 1. (2:21) https://www.youtube.com/watch?v=nNN06z7a_IE2.Martin Khor Debt in the Developing World Part 2. (3:14) https://www.youtube.com/watch?v=v4zdGNgw5YgGeorge Ayittey: The solution to Africa lies in Africahttps://www.youtube.com/watch?v=5QEVZGuh988The answers are not need to write too long, just refined text. Thank you so much!