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:
“All praise of the hawk on fire in hawk-eyed dusk be sung,
When his viperish fuse hangs looped with flames under the brand
Wing, and blest shall
Young
Green chickens of the bay and bushes cluck, “dilly dilly,
Come let us die.””
—Dylan Thomas (1914–1953)
“Women are hard and proud and stubborn-hearted,
Their heads being turned with praise and flattery;
And that is why their lovers are afraid
To tell them a plain story.”
—William Butler Yeats (1865–1939)
“There is no Pleasure like that of receiving Praise from the Praiseworthy.”
—Richard Steele (1672–1729)