Economic Growth : The Path to the Alleviation of Debt and Poverty

In this speech by A. W. Clausen, President of the World Bank and International Finance Corporation, he reconfirms the Bank's commitment to do all that it can to help the middle-income member countries with severe debt problems to regain sustained, noninflationary economic growth with social pro...

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Main Author:	Clausen, A. W.
Format:	Speech
Language:	English en_US
Published:	World Bank, Washington, DC 2017
Subjects:	debt crisis access to finance austerity trade policy capital flows domestic savings debt servicing
Online Access:	http://documents.worldbank.org/curated/en/143231480068260516/Address-to-the-Board-of-Governors-by-A-W-Clausen-President-World-Bank-and-International-Finance-Corporation http://hdl.handle.net/10986/25800

id	okr-10986-25800
recordtype	oai_dc
spelling	okr-10986-258002021-04-23T14:04:31Z Economic Growth : The Path to the Alleviation of Debt and Poverty Clausen, A. W. debt crisis access to finance austerity trade policy capital flows domestic savings debt servicing In this speech by A. W. Clausen, President of the World Bank and International Finance Corporation, he reconfirms the Bank's commitment to do all that it can to help the middle-income member countries with severe debt problems to regain sustained, noninflationary economic growth with social progress. Clausen reviewed the course of the debt crisis and the austerity responses of the heavily indebted middle income countries that were unavoidably painful--very sharp cutbacks in imports, reductions in public expenditure programs, depressed domestic income levels. Although most heavily-indebted countries took steps to attract resources into export-oriented industries in order to enhance their future debt-servicing capacity, such measures were in many instances hampered by severe restrictions on imports necessary to effect a quick reduction in the current account deficit. Additional capital is clearly needed to support productive investment. Industrialized countries must maintain steady growth and move to enhance market access for goods and services from developing countries. Developing countries need to adopt export-oriented trade policy, encourage domestic savings, and improve the quality of investments. The Bank will assist with formulation of growth programs, provide expanded capital, and mobilize capital from other sources. 2017-01-04T20:09:44Z 2017-01-04T20:09:44Z 1985-12-09 Speech http://documents.worldbank.org/curated/en/143231480068260516/Address-to-the-Board-of-Governors-by-A-W-Clausen-President-World-Bank-and-International-Finance-Corporation http://hdl.handle.net/10986/25800 English en_US Address, Buenos Aires, December 9, 1985; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Speech
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	debt crisis access to finance austerity trade policy capital flows domestic savings debt servicing
spellingShingle	debt crisis access to finance austerity trade policy capital flows domestic savings debt servicing Clausen, A. W. Economic Growth : The Path to the Alleviation of Debt and Poverty
relation	Address, Buenos Aires, December 9, 1985;
description	In this speech by A. W. Clausen, President of the World Bank and International Finance Corporation, he reconfirms the Bank's commitment to do all that it can to help the middle-income member countries with severe debt problems to regain sustained, noninflationary economic growth with social progress. Clausen reviewed the course of the debt crisis and the austerity responses of the heavily indebted middle income countries that were unavoidably painful--very sharp cutbacks in imports, reductions in public expenditure programs, depressed domestic income levels. Although most heavily-indebted countries took steps to attract resources into export-oriented industries in order to enhance their future debt-servicing capacity, such measures were in many instances hampered by severe restrictions on imports necessary to effect a quick reduction in the current account deficit. Additional capital is clearly needed to support productive investment. Industrialized countries must maintain steady growth and move to enhance market access for goods and services from developing countries. Developing countries need to adopt export-oriented trade policy, encourage domestic savings, and improve the quality of investments. The Bank will assist with formulation of growth programs, provide expanded capital, and mobilize capital from other sources.
format	Speech
author	Clausen, A. W.
author_facet	Clausen, A. W.
author_sort	Clausen, A. W.
title	Economic Growth : The Path to the Alleviation of Debt and Poverty
title_short	Economic Growth : The Path to the Alleviation of Debt and Poverty
title_full	Economic Growth : The Path to the Alleviation of Debt and Poverty
title_fullStr	Economic Growth : The Path to the Alleviation of Debt and Poverty
title_full_unstemmed	Economic Growth : The Path to the Alleviation of Debt and Poverty
title_sort	economic growth : the path to the alleviation of debt and poverty
publisher	World Bank, Washington, DC
publishDate	2017
url	http://documents.worldbank.org/curated/en/143231480068260516/Address-to-the-Board-of-Governors-by-A-W-Clausen-President-World-Bank-and-International-Finance-Corporation http://hdl.handle.net/10986/25800
_version_	1764460150826991616

Economic Growth : The Path to the Alleviation of Debt and Poverty

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