Publication:
Address to the National Press Club, Washington, D.C., March 25, 1998

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dc.contributor.authorWolfensohn, James D.
dc.date.accessioned2017-02-23T22:16:58Z
dc.date.available2017-02-23T22:16:58Z
dc.date.issued1998-03-25
dc.description.abstractJames 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.en
dc.identifierhttp://documents.worldbank.org/curated/en/2015/11/25248234/address-national-press-club-james-d-wolfensohn-president
dc.identifier.doi10.1596/26158
dc.identifier.urihttps://hdl.handle.net/10986/26158
dc.languageEnglish
dc.language.isoen_US
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNTING PRINCIPLES
dc.subjectEMPLOYMENT
dc.subjectFINANCIAL RESTRUCTURING
dc.subjectCAPITAL MARKETS
dc.subjectBORROWER
dc.subjectVILLAGES
dc.subjectDEVELOPMENT ASSISTANCE
dc.subjectACCOUNTING
dc.subjectPEOPLE
dc.subjectETHNIC MINORITIES
dc.subjectFINANCING
dc.subjectSTOCK
dc.subjectVILLAGE
dc.subjectINTEREST
dc.subjectLAWS
dc.subjectENROLLMENT
dc.subjectJUSTICE SYSTEMS
dc.subjectFINANCE COMPANIES
dc.subjectFINANCIAL ASSISTANCE
dc.subjectINDUSTRY
dc.subjectOPTION
dc.subjectEXCHANGE
dc.subjectSTOCK MARKET
dc.subjectBANKING SYSTEM
dc.subjectLIQUIDITY
dc.subjectDEVELOPING COUNTRIES
dc.subjectINTERNATIONAL FINANCIAL SYSTEMS
dc.subjectRECESSION
dc.subjectPORTFOLIO
dc.subjectBANKRUPTCY LAW
dc.subjectBONDS
dc.subjectLOAN
dc.subjectDISTANCE LEARNING
dc.subjectCAPACITY BUILDING
dc.subjectPROJECTS
dc.subjectENROLLMENTS
dc.subjectCORRUPTION
dc.subjectRESERVE
dc.subjectBANKRUPTCY
dc.subjectCREDITORS
dc.subjectSHORT-TERM BORROWINGS
dc.subjectDEVELOPING COUNTRY
dc.subjectINSURANCE COMPANY
dc.subjectLEGAL SYSTEMS
dc.subjectSAVINGS
dc.subjectLACK OF TRANSPARENCY
dc.subjectCOMMERCIAL CODES
dc.subjectCURRENCY
dc.subjectBANKER
dc.subjectGOVERNMENT POLICY
dc.subjectUNION
dc.subjectTRUSTEES
dc.subjectCONTRACTS
dc.subjectTRADING
dc.subjectINTEREST RATES
dc.subjectMONETARY FUND
dc.subjectREGULATORY SYSTEM
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectMARKETS
dc.subjectDEBT
dc.subjectRETURN
dc.subjectBOND ISSUE
dc.subjectLENDERS
dc.subjectBANK OF ENGLAND
dc.subjectBANKERS
dc.subjectLOANS
dc.subjectLABOR
dc.subjectENTERPRISES
dc.subjectRESERVES
dc.subjectPRIVATE CAPITAL
dc.subjectSOCIAL DEVELOPMENT
dc.subjectGOVERNMENT FINANCING
dc.subjectEQUITIES
dc.subjectEXTENSION OF CREDIT
dc.subjectFINANCIAL SYSTEM
dc.subjectREAL ESTATE
dc.subjectFINANCE
dc.subjectINFRASTRUCTURE
dc.subjectBANKS
dc.subjectMARKET ECONOMY
dc.subjectUNIONS
dc.subjectINTERNATIONAL STANDARDS
dc.subjectEQUITY
dc.subjectBANKRUPTCY LAWS
dc.subjectFEDERAL RESERVE
dc.subjectGOOD
dc.subjectCAPITAL
dc.subjectGLOBAL MARKET
dc.subjectTRANSPARENCY
dc.subjectINTERNATIONAL INVESTMENT
dc.subjectFINANCIAL CRISIS
dc.subjectFAMILY
dc.subjectFUTURE
dc.subjectSAVINGS RATE
dc.subjectVALUE
dc.subjectGOVERNMENT BANKS
dc.subjectBANK
dc.subjectCREDIT
dc.subjectSHORT-TERM DEBT
dc.subjectPUBLIC MARKETS
dc.subjectCONTRACT
dc.subjectREPAYMENT
dc.subjectEXPENDITURES
dc.subjectENTERPRISE
dc.subjectFOREIGN BANKS
dc.subjectMARKET
dc.subjectLOCAL CURRENCY
dc.subjectTRADE UNIONS
dc.subjectFEDERAL RESERVE SYSTEM
dc.subjectGOVERNANCE
dc.subjectINSURANCE
dc.subjectHUMAN RIGHTS
dc.subjectBANK LOAN
dc.subjectSECURITY
dc.subjectBANK LOANS
dc.subjectLEGAL SYSTEM
dc.subjectCURRENCY BOARD
dc.subjectINVESTMENT
dc.subjectBOND
dc.subjectINVESTMENT PORTFOLIO
dc.subjectECONOMIC CRISIS
dc.subjectBALANCE SHEETS
dc.subjectPOVERTY
dc.subjectBORROWINGS
dc.subjectFINANCIAL MARKETS
dc.subjectECONOMIC OPPORTUNITY
dc.subjectCASH ON HAND
dc.subjectEDUCATIONAL OPPORTUNITY
dc.subjectBORROWING
dc.subjectINVESTMENTS
dc.subjectLENDING
dc.subjectEXCHANGE RATE
dc.subjectFINANCIAL SYSTEMS
dc.subjectLIABILITIES
dc.subjectGOVERNMENTS
dc.subjectSHORT-TERM LIQUIDITY
dc.subjectINTERNATIONAL MARKETS
dc.subjectAUDITING
dc.subjectINVESTING
dc.titleAddress to the National Press Club, Washington, D.C., March 25, 1998en
dc.typeSpeechen
dc.typeDiscoursfr
dc.typeDiscursoes
dspace.entity.typePublication
okr.crossref.titleAddress to the National Press Club, Washington, D.C., March 25, 1998
okr.date.disclosure2015-11-05
okr.date.doiregistration2025-05-08T13:41:02.788264Z
okr.doctypeSpeech
okr.docurlhttp://documents.worldbank.org/curated/en/2015/11/25248234/address-national-press-club-james-d-wolfensohn-president
okr.guid658711467991046250
okr.identifier.externaldocumentum090224b083194455_1_0
okr.identifier.internaldocumentum25248234
okr.identifier.report99945
okr.importedtrue
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2015/11/05/090224b083194455/1_0/Rendered/PDF/Address0to0the0lfensohn00President.pdfen
okr.region.administrativeEast Asia and Pacific
okr.region.countryChina
okr.region.countryIndonesia
okr.region.countryKorea, Republic of
okr.region.countryThailand
okr.region.geographicalEast Asia
okr.topicPublic Sector Development::Public Sector Corruption/Anticorruption Measures
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicFinance and Financial Sector Development::Banks & Banking Reform
okr.topicFinance and Financial Sector Development::Financial Regulation & Supervision
okr.topicGovernance::Governance and the Financial Sector
okr.unitOffice of the President (EXC)
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6. Speeches by James D. Wolfensohn (1995-2005)