World Bank

“ The World Bank, for example, encourages development either by guaranteeing private loans or by providing financing from its own funds if private capital is not available. See Articles of Agreement of the International Bank for Reconstruction and Development, Art. I, Dec. 27, 1945, 60 Stat. 1440, T. I. A. S. No. 1502.
Some of these organizations, including the International Finance Corporation (IFC) , themselves believe they do not need broad immunity in commercial areas, and they have waived it. ”

“ Those organizations, which included the United Nations, the International Monetary Fund, and the World Bank, were designed to allow member countries to collectively pursue goals such as stabilizing the international economy, rebuilding war-torn nations, and maintaining international peace and security. ”

“ Through agencies such as the World Bank and the International Monetary Fund, the U.N. is working to address this gap between the world's richest and poorest countries by supporting comprehensive debt relief and providing billions of dollars in loans and grants to developing nations for projects that promote health, nutrition, education, entrepreneurship, and civil society. ”

“ Evaluation of Country Systems.—The Secretary of the Treasury shall direct the United States Executive Directors at the World Bank to request an evaluation by the Independent Evaluation Group on the use of country environmental and social safeguard systems to determine the degree to which, in practice, the use of such systems provides the same level of protection at the project level as do the policies and procedures of the World Bank. ”

“ Still, it faces many of the serious problems facing other underdeveloped countries, such as a top-heavy civil service and a generally unfavorable climate for business enterprise. Since 1990, the government has embarked on various IMF and World Bank programs designed to spur business investment, increase efficiency in agriculture, improve trade, and recapitalize the nation's banks. ”

“ The government's decade-long effort, supported by the World Bank and the IMF, to implement economic reform measures, encourage foreign investment, and bring revenues in line with expenditures has moved slowly. ”

“ The role of the World Bank is especially important in this respect, both as the largest single source of development lending and for its policy leadership, which exerts a significant influence on both developing counties and donors. The World Bank has taken a significant lead in reorienting its lending programmes to a much higher sensitivity to environmental concerns and to support for sustainable development. ”

“ When I brought this to the attention of the World Bank official who was supposed to monitor this project, he said rather lamely that he could not understand how this had escaped his attention. I m afraid he is not alone in not really exercising with regard to government money which is everybody's money and therefore nobody's the care we would exercise if the funds expended were our own. ”

“ In 1991, the World Development Fund, one of whose main contributors is the World Bank, was established to provide concessionary aid to help the developing countries to carry out projects that will contribute to preserving the world’s environment. ”

“ Since the early 1980s the government has pursued an economic program toward these objectives with the support of the IMF, the World Bank, and the Paris Club of creditors. The economy has substantial assets to draw on: the world's largest phosphate reserves, diverse agricultural and fishing resources, a sizable tourist industry, a growing manufacturing sector, and remittances from Moroccans working abroad. ”

“ In the social sphere, analysis and technical or general policy advice are, to a large extent, matters for international organizations other than IMF, such as the World Bank, the regional development banks, FAO, ILO, UNDP and UNICEF, as well as bilateral donors and non governmental organizations. ”

“ The World Bank estimates that even if external economic conditions are favourable over the next five years, and even if African governments implement key policy reforms, a substantial gap will still remain between the finance or debt relief available on current donor policies and the amounts needed to prevent a further deterioration in the living standards of low-income Africa. ”

“ In 2005, Haiti paid its arrears to the World Bank, paving the way for reengagement with the Bank. The government relies on formal international economic assistance for fiscal sustainability. Remittances are the primary source of foreign exchange, equaling nearly a quarter of GDP and more than twice the earnings from exports. ”

“ In recent years, drought and economic mismanagement have resulted in a substantial buildup of foreign debt. The government has begun the second stage of an economic reform program in consultation with the World Bank, the IMF, and major donor countries. Short-term growth prospects are gloomy because of the heavy debt service burden, rapid population growth, and vulnerability to climatic conditions. ”

“ Nevertheless, there is also a need to increase the financial resources for new multilateral efforts and programmes of action for environmental protection and sustainable development. These new funds will not be easy to come by if the international organizations through which they flow have to continue to rely solely on traditional sources of financing: assessed contributions from governments, voluntary contributions by governments, and funds borrowed in capital markets by the World Bank and other international financial institutions. ”

“ The figure includes assistance from the World Bank, the IMF, and other international organizations and from individual nation donors. Formal commitments of aid are included in the data. Omitted from the data are grants by private organizations. Aid comes in various forms including outright grants and loans. The entry thus is the difference between new inflows and repayments.
Economy: This category includes the entries dealing with the size, development, and management of productive resources, i.e., land, labor, and capital. ”

“ Foreign businesses have curtailed operations due to uncertainty about the outcome of the conflict, lack of infrastructure, and the difficult operating environment. The war has intensified the impact of such basic problems as an uncertain legal framework, corruption, raging inflation, and lack of openness in government economic policy and financial operations. A number of IMF and World Bank missions have met with the government to help it develop a coherent economic plan, and President KABILA has begun implementing reforms. ”

“ Former Prime Minister Mekere MORAUTA had tried to restore integrity to state institutions, to stabilize the kina, restore stability to the national budget, to privatize public enterprises where appropriate, and to ensure ongoing peace on Bougainville. The government has had considerable success in attracting international support, specifically gaining the backing of the IMF and the World Bank in securing development assistance loans. ”

“ Despite the severe damage the economy has suffered due to civil strife, Georgia, with the help of the IMF and World Bank, has made substantial economic gains in 1995-96, pushing GDP growth and slashing inflation. ”

“ After two years of weak performance, economic growth improved significantly in 1988-90 as a result of good weather and a broadly based economic adjustment effort by the government. The economy depends on substantial inflows of economic assistance from the IMF, the World Bank, and individual donor nations. ”

“ Observe the phrases:
(a) “without giving the government any part in the management or control.” (b) “these central banks, while legally private corporations . . . . are permitted to issue the notes of the nation.” (c) “they are custodians of practically the entire metallic reserves of the nation and the keepers of the government funds.” (d) “in questions of national policy, the government must rely on the willing and loyal co-operation of these central organs.” It is not now a question whether these things are right or wrong ”

“ The National City Bank opens agencies in Cuba and in Argentina. The great modern business units deal, not with political boundaries, but with economic areas. They seek out, as the field for their operations, abundant resources, cheap labor, attractive markets.
The present economic system has made great strides toward the world organization of economic life in a comparatively short time. Australia, Canada and the United States furnish excellent illustrations of the way in which continents have been surveyed, spanned with steel, populated and exploited in three or four generations. ”

“ The Bank of England, which has been called the bank of the world,—the railways, which bear comfort and civilization to the remotest hamlets,—the canals, which convey our commerce and irrigate our lands,—our docks, which contain the wealth of the East and of the West,—our life-assurance companies, which comfort many a desolate hearth and home,—are the result of joint-stock companies. The evil is passing ”

“ Warburg is not at all shocked by the idea that the Federal Reserve System is really a new kind of private banking control, because in his European experience he saw that all the central banks were private affairs. ”

“ That this System was useful in the artificial conditions created by war—useful, that is, for a Government that cannot manage its own business and finances and, like a prodigal son, is always wanting money, and wanting it when it wants it—it has proved, either by reason of its inherent faults or by mishandling, its inadequacy to the problems of peace. ”

“ But when you are dealing with a world chain of financial consulates, all of them linking up in a world system, none of them to be regarded as American banks, or British banks, or French banks, or Italian banks, or German banks, but all of them members of the Jewish World Banking System, you are obviously not dealing with individuals who are trying to make a living. ”

“ The greatest corporation in the world has availed itself of the principle, and the effect of the statute is, not to prevent respectable men from speculating, but to make rogues refuse to pay their losses, knowing that, while the law is inefficient, the blackboard of the Stock Exchange is their only punishment. To such men such punishment is ridiculous; they only feel through the purse, and in that they know they are safe by virtue of an act in which they rejoice.
That a feeling of gambling was encouraged is indisputable, and the attempt of Sir John Barnard was, therefore, honorable. ”

“ Quite naturally, under the circumstances, they have grown rich, and powerful far beyond the extent of their riches, since their control of the credit—upon which the whole business community depends—and their easy access to other people's money in the form of insurance premiums and savings bank deposits, place them in a strategic position which permits them to dominate and to dictate outside the boundaries of their ownership. ”

“ The private sector also has a major impact on development through commercial bank loans from within and outside countries. in 1983, for example, the proportion of the total net receipts of developing countries from private sources mostly in the form of commercial bank loans. ”

“ Since 1983 as indebtedness worsened, commercial bank lending to developing cuuntries has declined. [30]
79. Efforts are being made to stimulate private investment. These efforts should be, geared to supporting sustainable development. The industrial and financial corporations making such investments, and the export credit, investment insurance, and other programmes that facilitate them, should incorporate sustainable development criteria into their policies. ”

“ The only real remedy is to take care that the parties who enter into the several speculations have something considerable to lose, self-interest will then render them infinitely more prudent and vigilant than all the inspections and certifications in the world. ”

“ Laboringman gets away with all of you. Now, can you beat that as an illustration of our financial and banking needs? If you will construct a banking system up-to-date, and just add to these domestic requirements the necessary provisions growing out of the fact that I am now a world power, I should have said, I am the world power, and prepare an international financial and banking system, we shall meet the demands of this new century; but otherwise I shall find myself wholly incapable of protecting the very foundation of commercial credit, my gold reserves, when the test comes. ”