Clausen, A. W.2017-01-042017-01-041985-10-08https://hdl.handle.net/10986/25799In 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.en-USCC BY 3.0 IGOABSENTEEISMABSOLUTE AMOUNTSACCESS TO EDUCATIONADULT LITERACYAFFILIATEAGRICULTURAL PRODUCTIONASSET RATIOSBALANCE OF PAYMENTSBANK LENDINGBASIC EDUCATIONBASIC NEEDSBORROWINGBORROWINGSBUDGETARY CONSTRAINTBUDGETARY CONSTRAINTSCAPITAL BASECAPITAL FLOWSCAPITAL FORMATIONCAPITAL MARKETSCAPITAL REQUIREMENTSCHILD MORTALITYCHILD MORTALITY RATESCITIZENSCOMBAT POVERTYCOMMERCIAL BANKERSCOMMERCIAL BANKSCONSUMERSCONTRIBUTIONCONTRIBUTIONSCREDITSCREDITWORTHINESSCURRENT ACCOUNTCURRENT ACCOUNT DEFICITSCURRENT ACCOUNT SURPLUSCURRENT PLANSCURRENT PROGRAMDEBTDEBT RELIEFDEBT SERVICEDEBTSDEFICITSDEPOSITDEVELOPING COUNTRIESDEVELOPING COUNTRYDEVELOPMENT EFFORTSDEVELOPMENT FINANCEDEVELOPMENT PLANNINGDEVELOPMENT POLICIESDISBURSEMENTSDISEASESDOMESTIC CONSUMPTIONDROPOUTECONOMIC CONDITIONSECONOMIC CONTRIBUTIONECONOMIC GROWTHECONOMIC PROGRESSECONOMIC SYSTEMSEDUCATION OF WOMENEDUCATIONAL LEVELEDUCATIONAL OPPORTUNITYEMPLOYMENTEMPLOYMENT OPPORTUNITIESENROLLMENTSEQUITABLE ACCESSEQUITY CAPITALEQUITY FUNDSEXCHANGE RATESEXPENDITUREEXPLOITATIONEXPORTERSEXTERNAL BORROWINGEXTERNAL CAPITALEXTERNAL FINANCEEXTERNAL FUNDSFAMILIESFARMERSFEMALE EDUCATIONFERTILITYFINANCIAL ASSISTANCEFINANCIAL CIRCUMSTANCESFINANCIAL COMMITMENTSFINANCIAL CONCERNFINANCIAL DIFFICULTIESFINANCIAL FLOWSFINANCIAL INSTITUTIONSFINANCIAL INTERMEDIATIONFINANCIAL MARKETSFINANCIAL RESOURCESFINANCIAL STRUCTUREFINANCIAL SUPPORTFINANCIAL SYSTEMFINANCING NEEDSFOOD PRODUCTIONGROSS NATIONAL PRODUCTHEALTH CAREHEALTH EXPENDITURESHEALTH FACILITIESHEALTH SECTORHUMAN BEINGSHUMAN DEVELOPMENTHUMAN DIGNITYHUMAN POTENTIALHUMAN RESOURCEHUMAN RESOURCE DEVELOPMENTILLITERACYILLNESSINCOME GROUPINCOMESINDUSTRIALIZATIONINFANTINFANT MORTALITYINFANT MORTALITY RATEINFLATIONINTEREST RATESINTERNATIONAL ASSISTANCEINTERNATIONAL BANKINTERNATIONAL CAPITALINTERNATIONAL CAPITAL MARKETSINTERNATIONAL CONSENSUSINTERNATIONAL FINANCIAL INSTITUTIONSINTERNATIONAL POLICIESINVESTMENT BANKERSINVESTMENT OPPORTUNITIESINVESTMENT PROGRAMSJOB CREATIONLABOR FORCESLACK OF CAPITALLEGISLATIONLEGISLATIVE ACTIONSLENDING POLICIESLEVELS OF POPULATION GROWTHLIABILITYLIFE EXPECTANCYLIMITED ACCESSLITERACY PROGRAMSLOANLOAN FUNDSLOAN PORTFOLIOLOW-INCOMELOW-INCOME COUNTRIESLOWER FERTILITYMEASLESMIGRATIONMODERNIZATIONMONETARY FUNDMORAL RESPONSIBILITYNEW JOBSNOMINAL PRICESNUMBER OF PEOPLENUTRITIONOFFICIAL DEVELOPMENT ASSISTANCEOIL PRICESOPPORTUNITY FOR WOMENOUTSTANDING DEBTOUTSTANDING LOANSPAYMENTS IMBALANCESPENALTIESPERSONAL INCOMEPLAN OF ACTIONPOOR NATIONSPRIMARY EDUCATIONPRIMARY HEALTH CAREPRIMARY SCHOOLPRIVATE BANKINGPRIVATE BANKSPRIVATE FINANCIAL MARKETSPRIVATE FUNDSPROBABILITYPRODUCTIVITYPROFITABLE INVESTMENTPROFITABLE INVESTMENTSPROGRESSPUBLIC EXPENDITURESPUBLIC INVESTMENTPUBLIC SERVICESRAPID POPULATION GROWTHRATE OF GROWTHRATE OF INFLATIONRATES OF GROWTHREAL COSTREAL INTERESTREAL INTEREST RATESRECESSIONREGULATORY AGENCIESREINVESTMENTREMITTANCESREPAYMENTRESERVESRESOURCE FLOWSRESPECTRETAINED EARNINGSRETURNRETURNSRURAL AREASRURAL DEVELOPMENTSALARIESSANITATIONSAVINGSSAVINGS PATTERNSSAVINGS RATESCARCE RESOURCESSCHOOL-AGE CHILDRENSHORT-TERM FINANCESMALL FARMERSSOCIAL DEVELOPMENTSOCIAL PROGRAMSSOCIAL PROGRESSSOCIAL SECTORSOURCES OF FUNDSSTRUCTURAL ADJUSTMENTTECHNICAL ASSISTANCETOTAL COSTUNEMPLOYMENTUNIONUNIVERSAL PRIMARY EDUCATIONURBAN AREASVILLAGEVOCATIONAL TRAININGVOLUNTARY CONTRIBUTIONSWAGESWARWORLD COMMUNITYSpeechWorld Bank10.1596/25799