10. Speeches of World Bank Presidents [collection under construction]

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Coalitions for Change

( 1999-09-28) Wolfensohn, James D.

World Bank Group President, James Wolfensohn addressed the Board of Governors. In the past year the Bank launched a new initiative—the Comprehensive Development Framework (CDF). The aim was to bring the social and the structural aspects of development together with the macroeconomic and the financial so as to establish a much more balanced and effective approach. The Bank will work with the broad development community—the United Nations, the European Union, bilaterals, regional development banks, civil society, and the private sector—to build genuine partnerships. The CDF is now being piloted in 13 countries. The general experience reviewed that strengthening the organization, human capacity, and the structure of the state, both at central and local levels, is the first priority to reduce poverty. The speaker also called for a coalition for change in the new international development architecture in the face of globalization.
Remarks at the Bretton Woods Committee Annual Meeting

( 1999-06-09) Wolfensohn, James D.

James D. Wolfensohn, President of the World Bank Group, discussed the Bank’s focus on the social sector. Since the realignment of the focus of the Bank after the initial objectives of the Bretton Woods agreements for the reconstruction after World War II were met, the more recent and continuing focus has been on development and on the issues of poverty and the issues of sustainable development. On the Bank’s agenda are: first, good governance; second, the legal and justice system; third, an effective supervisory mechanism for banks and capital markets; and finally, a social safety net to deal with the impact of financial crises upon the poor.
Remarks at the Council of the Americas

( 1999-05-03) Wolfensohn, James D.

James D. Wolfensohn, President of the World Bank Group, reassessed the global financial architecture and its impact on Latin America. Latin American countries, being small economies, are very vulnerable to world pressures. After a huge drop in private sector finance, we’re seeing the first signs of return. What we need now is greater transparency and supervision in banking and the private sector—and a better common set of principles and standards. We need decent government, trained government, with capacity at all levels. We need legal systems that work. We must ensure social safety nets are in place. The things that bring about equity in a society are education and knowledge. Latin America’s kids need stability and social justice.
Keynote Address

( 1999-03-06) Wolfensohn, James D.

James D. Wolfensohn, President of the World Bank Group, discussed first, governance and corruption; second, legal and justice system that works; third, financial system to supervise and monitor what is going on in the banks and in the financial sector; and fourth, social system that works to protect people who are out of work, the aged, children, the disabled, and persons that are vulnerable. The leading companies are doing a fantastic job and it is hoped that perhaps with European Institute of Business Administration (INSEAD) can get some leadership in terms of recognition that the future is dependent on peace and social development.
Remarks at the International Conference on Democracy, Market Economy, and Development

( 1999-02-26) Wolfensohn, James D.

James D. Wolfensohn, President of the World Bank Group, discussed what the Bank learned in coming to look at the issues of poverty and development. Development requires proper economic policies, but also the essential element of the social aspects and human aspects of society. The Bank’s focus is to think first in terms of poverty—fighting poverty with passion was adopted recently as the first line of our mission statement. Wolfensohn discussed an agenda for action on the issues of inclusion, corruption, transparency, education, knowledge, and private sector environment. How we attack this agenda must be a partnership between governments, multilaterals, such as the Bank, and the bilateral institutions, the private sector, and civil society in all its forms—from non-government organizations (NGOs) to trade unions, from religions to foundations, from spokesmen for ordinary people.
Whither Globalism: A World in Crisis?

( 1998-05-06) Wolfensohn, James D.

James D. Wolfensohn, President of the World Bank Group, discussed the waves of financial crises. He noted the changes in the international scene in recent decades put the current crisis in a different light. The World Bank is trying to help the countries strengthen financial systems; get better accounting systems; and put in bankruptcy laws. The Bank is trying to address the questions of judicial systems. The Bank activities is to focus on the social aspects, to try, and ensure that one can have some basic stability and opportunity to continue with programs of education, health care, training, and address the particular problems of women.
Address to the National Press Club, Washington, D.C., March 25, 1998

( 1998-03-25) Wolfensohn, James D.

James D. Wolfensohn, President of the World Bank Group discussed the financial crisis in Asia which began with the emergence of the Thailand crisis. The history of Asian economic and social development has been one of enormous achievement. Since 1975 the number of people living in poverty has been reduced from 700 million to 340 million (roughly 20 percent of the population)—no small achievement. Generally, the region has had strong economic growth. Life expectancy has gone up significantly, while infant mortality has gone down significantly. Primary school enrollment approaches 100 percent. Fiscal management has been remarkable. What changed? We have a crisis now caused by private sector excesses, and to a degree government inaction in the area of supervision. The Bank is focusing on two things: reformation of the financial system, in terms of trying to get the regulation and control that is now being demanded by the Asian authorities themselves; and the impact on the people. Wolfensohn fielded a number of questions from the audience.
Accountants and Society: Serving the Public Interest

( 1997-10-26) Wolfensohn, James D.

James D. Wolfensohn, President of the World Bank Group, discussed how accountants can best serve the public interest. Over the last 15 years, the Bank have seen freedom blossom and with it an expanded role for civil society. Today five billion people live in a market system - up from 1 billion a decade ago. Lack of institutional capacity, poor governance, and public sector management remain major impediments to growth and development. The Bank is holding anti-corruption seminars and workshops for parliamentarians and journalists; making sure that our own processes meet the highest standards of transparency and propriety; and pushing ahead with deregulation, institutional, and policy reform. The Bank can and is working to improve accounting and auditing capacity building, in Ghana, Zambia, China, Pakistan, and Indonesia among others.
Address to the International Labour Conference, June 13, 1997

(World Bank, Washington, DC, 1997-06-13) Wolfensohn, James D.

James D. Wolfensohn, President of the World Bank Group, discusses the relationship, which has been going on for years between the Bank and the International Labour Organization (ILO), has indeed been deepened and strengthened. The Bank has established some work programs, including joint studies on reform of vocational education and training systems, on the labor-market impact of export processing zones, and joint workshops for trade unionists on labor and development issues. Wolfensohn reviewed the differing role of the Bank compared to the ILO. The Bank is focusing direct and specific attention on poverty alleviation within a sustainable environment. He discussed other partners in development: other multilateral institutions, the private sector, civil society, and governments. The aims of the Bank and the ILO are linked to giving individuals a chance for freedom and economic opportunity with a sense of justice and fairness.
Attracting Capital to Africa

(World Bank, Washington, DC, 1997-04-21) Wolfensohn, James D.

James D. Wolfensohn, President of the World Bank Group, stated unequivocal financial commitment to and belief in Africa’s future. Africa is not without its problems. He noted that 200 million people live in poverty, earning under a dollar a day. The Bank is investing at the rate of nearly $3 billion a year on top of the $17 billion already put into the region. There has been a real change in the investment climate not only for international investors but also for domestic investors. It is in partnership with the private sector that Africa finds a profound opportunity to change the continent. We can help through the International Finance Corporation (IFC) and Multilateral Investment Guarantee Agency (MIGA) to provide assistance with financing and insurance against risk. The Bank is very keen to play part in assisting the flow of private sector funding. We see that Africa wants to succeed and is being led by people who want to lead their countries to success. Their optimism will be fulfilled only if there is a real partnership.