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:
“What were our praise to them? They eat
Quiet’s wild heart, like daily meat;
Who when night thickens are afloat
On dappled skins in a glass boat,
Far out under a windless sky;
While over them birds of Aengus fly....”
—William Butler Yeats (1865–1939)
“A man is known by the books he reads, by the company he keeps, by the praise he gives, by his dress, by his tastes, by his distastes, by the stories he tells, by his gait, by the notion of his eye, by the look of his house, of his chamber; for nothing on earth is solitary but every thing hath affinities infinite.”
—Ralph Waldo Emerson (1803–1882)
“A: Let’s praise one another. B: You go first.”
—Mason Cooley (b. 1927)