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:
“Do homage to thy King,
And highly praise His humble pomp
Which He from Heaven doth bring.”
—Robert Southwell (1561?–1595)
“Translators can be considered as busy matchmakers who praise as extremely desirable a half-veiled beauty. They arouse an irresistible yearning for the original.”
—Johann Wolfgang Von Goethe (1749–1832)
“I allow a Beauty to be as much to be commended for the Elegance of her Dress, as a Wit for that of his Language; yet if she has stolen the Colour of her Ribbands from another, or had Advice about her Trimmings, I shall not allow her the Praise of Dress, any more than I would call a Plagiary an Author.”
—Richard Steele (1672–1729)