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:
“Around, the night drops swiftly down
Its veils; does not condemn
Or praise the different actions done.
The hour that strikes across the town
Caresses all and injures none
As sleep approaches them.”
—Philip Larkin (1922–1986)
“Though beautie be the marke of praise,
And yours of whom I sing be such
As not the world can praise too much,
Yet is’t your vertue now I raise.”
—Ben Jonson (1572–1637)
“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)