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:
“Everything here below beneath the sun is subject to continual change; and perhaps there is nothing which can be called more inconstant than opinion, which turns round in an everlasting circle like the wheel of fortune. He who reaps praise today is overwhelmed with biting censure tomorrow; today we trample under foot the man who tomorrow will be raised far above us.”
—E.T.A.W. (Ernst Theodor Amadeus Wilhelm)
“There are some who praise a man free from disease; to me no man who is poor seems free from disease but to be constantly sick.”
—Sophocles (497–406/5 B.C.)
“The worthiness of praise distains his worth
If that the praised himself bring the praise forth.”
—William Shakespeare (1564–1616)