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:
“We either praise or blame according to whether the one or the other provides the greater opportunity to let our power of judgment shine.”
—Friedrich Nietzsche (1844–1900)
“Usually we praise only to be praised.”
—François, Duc De La Rochefoucauld (1613–1680)
“Our manners have been corrupted by communication with the saints. Our hymn-books resound with a melodious cursing of God and enduring Him forever. One would say that even the prophets and redeemers had rather consoled the fears than confirmed the hopes of man. There is nowhere recorded a simple and irrepressible satisfaction with the gift of life, any memorable praise of God.”
—Henry David Thoreau (1817–1862)