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:
“That, if I chance to hold my peace,
These stones to praise thee may not cease.
Oh let thy blessed sacrifice be mine,
And sanctify this altar to be thine.”
—George Herbert (1593–1633)
“The enjoyment that all morality has given us to now and that it continues to give us—and so, what has kept it going up to now—lies in everyone’s right, without lengthy investigation, to praise and blame. And who could endure life without praising and blaming!”
—Friedrich Nietzsche (1844–1900)
“If you think that nobility consists of having sixteen ancestors rather than merit, great Prince, then you may—and you may also praise or condemn me.”
—Franz Grillparzer (1791–1872)