Praise
In principle, conditionality is a tactic used not only to make sure loans are paid back, but also to ensure that they are used effectively. If there are no conditions on the loan, the country might not use the money to reduce poverty (see fungibility). This argument however, logically misses the counter-argument that there are many other conditionalities which could be imposed which would not necessarily create the burden of payment (and therefore, the subsequent lack of ongoing governmental investment) which is seen by many critics as creating a vicious circle. A corollary of this problem is that, should such a vicious circle indeed exist, its only overriding tendency is to allow for outside multinational investment to provide the service and food needs to the society, which can no longer function in a productive, cost effective manner.
Read more about this topic: Structural Adjustment
Famous quotes containing the word praise:
“All praise of the hawk on fire in hawk-eyed dusk be sung,
When his viperish fuse hangs looped with flames under the brand
Wing, and blest shall
Young
Green chickens of the bay and bushes cluck, “dilly dilly,
Come let us die.””
—Dylan Thomas (1914–1953)
“So hills and valleys into singing break;
And though poor stones have neither speech nor tongue,
While active winds and streams both run and speak,
Yet stones are deep in admiration.
Thus praise and prayer here beneath the Sun
Make lesser mornings when the great are done.”
—Henry Vaughan (1622–1695)
“The life which men praise and regard as successful is but one kind. Why should we exaggerate any one kind at the expense of the others?”
—Henry David Thoreau (1817–1862)