INTERVENTION VS. CO-OPERATION: LEGITIMACY OF THE EBRD CONDITIONALITY

Abstract

The EBRD is a “political bank.” “Multiparty democracy, pluralism and market economies” are the conditions (termed as “conditionality”) to get financial resources. The EBRD conditionality is coercive and intrusive. In sense of its nature, it is political rather than economic. Since it is purposed to foster the transition of open market, it is legitimate. In essence, it is believed to be a form of good international co-operation rather than that of willful or arbitrary intervention.

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