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Address to the Board of Governors by Robert S. McNamara President, World Bank Group (Inglês)

This speech by Robert S. McNamara, President of the World Bank, addresses the Board of Governors, in Washington, DC on September 30, 1980. He specifically examines the prospects for economic growth and social advance in the oil-importing developing countries throughout the 1980s; the actions the developing societies, industrialized nations and the OPEC countries, can take to maximize that growth; the need to accelerate the attack on absolute poverty; and the role the World Bank will play in the decade ahead. He acknowledges that global economic conditions over the past 18 months became more difficult, and the prospects for growth in the oil-importing developing countries during the decade of the 1980s now appear less promising. He says that if difficult changes are undertaken soon growth rates in the oil-importing developing countries can recover to more satisfactory levels during the second half of the decade. In the interim, financial assistance beyond prospective amounts is required. If this financial assistance is not available, their development progress will be seriously compromised throughout the decade. If the task of recycling to the developing countries a portion of the more than $100 billion a year of additional surpluses now being earned by the oil-exporting countries is to be tackled in the 1980s efficiently and equitably, the financial intermediation of the World Bank, and other international institutions, should increase substantially. He briefs about four beneficial actions to take during the 1980s. First, increasing the Bank’s lending program will offset inflation levels. Second, finance structural adjustment. Third, assist in financing the expanded energy development program called for at the Venice Economic Summit meeting. Fourth, respond to the development needs of China, but not at the cost of its other borrowers. He stresses the critical need and the economic good sense of developing those human resources who have been inequitably passed over by the modernization process. He concludes by saying that what countless millions of the poor need and want is what each of us needs and wants: the well-being of those they love; a better future for their children; an end to injustice; and a beginning of hope.

Detalhes

  • Autor

    McNamara,Robert S.

  • Data do documento

    1980/09/30

  • TIpo de documento

    Discurso do Presidente

  • No. do relatório

    110188

  • Nº do volume

    1

  • Total Volume(s)

    1

  • País

    Estados Unidos,

  • Região

    Restante do Mundo,

  • Data de divulgação

    2016/11/25

  • Disclosure Status

    Disclosed

  • Nome do documento

    Address to the Board of Governors by Robert S. McNamara President, World Bank Group

  • Palavras-chave

    access to international capital markets;infant and child mortality;primary education school;positive real interest rates;negative real interest rate;poor quality of water;burden of debt service;faster rate of growth;domestic energy production;current account deficit;middle-income developing countries;absolute poverty;gnp per capita;primary health care;health and nutrition;crude birth rate;concern for equity;global economic prospect;cost of import;current account surplus;standard of living;difference in income;human resource development;infant mortality rate;adult literacy rate;rate of inflation;high infant mortality;universal primary education;reserves of oil;private capital flow;external financial assistance;balance of payment;barrel of oil;exports of oil;price of oil;price per barrel;lack of capital;barrels per day;expansion of export;avenues of attack;primary school-age child;rapid population growth;proportion of woman;global financial system;national energy plan;per capita cost;centrally planned economy;terms of trade;expanding employment opportunity;per capita basis;forms of energy;Learning and Innovation Credit;commercial bank;Public Services;industrialized nation;absolute poor;import substitution;adjustment process;oil price;human potential;external borrowing;structural adjustment;concessional assistance;financial requirement;poverty program;concessional flow;society to women;beneficial impact;restrictive measures;adjustment policy;equitable access;adjustment problem;external environment;real value;negative growth;traditional infrastructure;economic recovery;domestic price;human beings;legislative action;adjustment period;world price;cost of energy production;world community;life expectancy;financial intermediation;administrative resource;domestic investment;national income;high fertility;rural clinic;higher learning;literacy program;scarce resource;comparative study;commercial debt;educating girl;Vocational Training;rural health;health expenditure;portfolio limits;external assistance;educational level;educational opportunity;external fund;female education;social progress;adjustment program;health practice;interest loan;future trends;debt relief;inflation rate;authorized capital;primary care;poor hygiene;nutritional level;nutrition policy;lower fertility;healthy child;basic learning;financial commitment;net disbursements;agricultural production;voluntary contribution;Donor countries;legislative approval;traditional production;bank lending;private banking;Electric Power;food production;world trade;finding employment;Energy Sector;principal export;export expansion;petroleum import;high energy;subsequent years;political disorder;agricultural productivity;subsistence farmer;marginal energy;rural area;severely limits;insignificant fraction;legislative initiative;public expenditure;cumulative effect;real cost;real level;human term;financial resource;saving rate;resource flow;crisis situation;human dignity;budget allocation;productive potential;earning opportunity;world economy;short-term finance;domestic consumption;domestic production;aid flow;industrial nations;international environment;short-term problem;mental development;energy conservation;petroleum product;individual life;economic stagnation;bilateral aid;childhood disease;consumption level;personal income;international policy;moral responsibility;accident rate;synergistic effect;inequitable practice;small farmer;learning capacity;sector programs;clean water;parasitic infection;cleaner water;social program;capital formation;Basic Education;sanitation program;nutritional value;chronic illness;medical expenditure;billion people;reasonable contribution;acceptable standard;increase productivity;modern sector;equitable distribution;urban employment;investment program;development policy;

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