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:
“He who is usually self-sufficient becomes exceptionally vain and keenly alive to fame and praise when he is physically ill. The more he loses himself the more he has to endeavor to regain his position by means of the opinion of others.”
—Friedrich Nietzsche (1844–1900)
“‘O glorious Life, Who dwellest in earth and sun,
I have lived, I praise and adore Thee.”
A sword swept.
Over the pass the voices one by one
Faded, and the hill slept.”
—Sir Henry Newbolt (1862–1938)
“Men hear gladly of the power of blood or race. Every body likes to know that his advantages cannot be attributed to air, soil, sea, or to local wealth, as mines and quarries, nor to laws and traditions, nor to fortune, but to superior brain, as it makes the praise more personal to him.”
—Ralph Waldo Emerson (1803–1882)