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:
“I come to bury Caesar, not to praise him.
The evil that men do lives after them;
The good is oft interrèd with their bones.”
—William Shakespeare (1564–1616)
“I try to make a rough music, a dance of the mind, a calculus of the emotions, a driving beat of praise out of the pain and mystery that surround me and become me. My poems are meant to make your mind get up and shout.”
—Judith Johnson Sherwin (b. 1936)
“Your praise is come too swiftly home before you.”
—William Shakespeare (1564–1616)