H. Speeches by Alden W. Clausen (1981-86)

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

(World Bank, Washington, DC, 1985-12-09) Clausen, A. W.

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.
Address to the Board of Governors Meeting in Seoul, Korea

(World Bank, Washington, DC, 1985-10-08) Clausen, A. W.

In his speech, President A. W. Clausen reviews the economic and debt crisis of the last five years and shares his expectations for the next five years. The World Bank will play a vital role in a successful transition from recession to sustained economic growth. The Bank’s operational strategy rests on twin pillars: assisting borrowers in formulating adjustment programs, and helping mobilize external resources to sustain these programs. Heavily indebted middle-income countries need help to grow out of their debts. Poor countries in Sub-Saharan Africa need help analyzing and overcoming the constraints on their economic and social growth. Clausen submitted a resolution to establish the Multilateral Investment Guarantee Agency (MIGA). As an international community, we must undertake to reverse the depletion of our forests and the associated degradation of the land. Sustainable growth requires true development of human capital, the alleviation of poverty, and the maintenance of the environment. Improving the quality of life of all who dwell in the developing nations has more dimensions than ever before.
Population Growth and Economic and Social Development: Addresses

(World Bank, Washington, DC, 1984-08-07) Clausen, A. W.

These two addresses to the National Leaders’ Seminar on Population and Development in Nairobi and to the International Population Conference in Mexico City in 1984 concern the urgent and important problem of fast population growth. Rapid population growth slows development, with the poor being the principal victims as hundreds of millions of people will have lower living standards. Reducing population growth raises difficult public policy questions in the areas of family and fertility. In the past ten years, many developing countries have shown that quick, effective measures can be taken to reduce fertility, particularly widespread education of women, and easier access to contraception.
Remarks at the International Industrial Conference, San Francisco, September 21, 1981

( 1981-09-21) Clausen, A. W.

A. W. Clausen, President of the World Bank Group, discusses the major economic challenges confronting the interdependent world, the role transnationals can play in helping to overcome them, and the effects of the rampant and stubborn inflation that has characterized the past dozen years.