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:
“How many things by season seasoned are
To their right praise and true perfection!”
—William Shakespeare (1564–1616)
“The enjoyment that all morality has given us to now and that it continues to give us—and so, what has kept it going up to now—lies in everyone’s right, without lengthy investigation, to praise and blame. And who could endure life without praising and blaming!”
—Friedrich Nietzsche (1844–1900)
“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)