ABSTRACT
There is, on the face of it, a double paradox in an international lending agency imposing conditions for loans that are in the interest of the borrowing country. If the policy prescriptions which form the conditions are truly in the interest of the receiving country, why are they not already pursued by the policy-makers instead of being imposed by the international lending agency? If the policy-makers can be convinced of their correctness, why do they have to get money from the lending agency? You would expect to pay for good advice, not to be financially rewarded for following it.
