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:
“Yet in spite of all they sang in praise of their “Eliza’s reign,” we have evidence that poets may be born and sing in our day, in the presidency of James K. Polk.”
—Henry David Thoreau (1817–1862)
“Translators can be considered as busy matchmakers who praise as extremely desirable a half-veiled beauty. They arouse an irresistible yearning for the original.”
—Johann Wolfgang Von Goethe (1749–1832)
“We praise Him, we bless Him, we adore Him, we glorify Him, and we wonder who is that baritone across the aisle and that pretty woman on our right who smells of apple blossoms. Our bowels stir and our cod itches and we amend our prayers for the spiritual life with the hope that it will not be too spiritual.”
—John Cheever (1912–1982)