International Financial Institutions
Conditionality is typically employed by the International Monetary Fund, the World Bank or a donor country with respect to loans, debt relief and financial aid. Conditionalities may involve relatively uncontroversial requirements to enhance aid effectiveness, such as anti-corruption measures, but they may involve highly controversial ones, such as austerity or the privatization of key public services, which may provoke strong political opposition in the recipient country. These conditionalities are often grouped under the label structural adjustment as they were prominent in the structural adjustment programs following the debt crisis of the 1980s.
Read more about this topic: Conditionality
Famous quotes containing the words financial and/or institutions:
“... aside from the financial aspect, [there] is more: the life of my work. I feel that is all I came into the world for, and have failed dismally if it is not a success.”
—Mary E. Wilkins Freeman (1852–1930)
“Is it not manifest that our academic institutions should have a wider scope; that they should not be timid and keep the ruts of the last generation, but that wise men thinking for themselves and heartily seeking the good of mankind, and counting the cost of innovation, should dare to arouse the young to a just and heroic life; that the moral nature should be addressed in the school-room, and children should be treated as the high-born candidates of truth and virtue?”
—Ralph Waldo Emerson (1803–1882)