World Bank’s head has talks with P.M.
Parliamentary reporter Doubts about the strength of a world economic recovery were no reason to not make essential economic adjustments, said the managing director of the World Bank, Mr Tom Clausen, in Wellington yesterday. Mr Clausen is in New Zealand for talks with the Prime Minister, Sir Robert Muldoon. Yesterday they spent some time discussing efforts to solve the debt crisis facing several developing countries. Mr Clausen said that the economic outlook for 1984 was better than 1983 for developing countries, particularly in Asia, which would have the strongest performance in increasing the gross national product of any group of countries in the world.
He said that 1985 would
be better than 1984 perhaps not as strong, though, in a percentage increase. Movements in this direction would help countries make the adjustments that they must make, he said. “Just because the crystal ball gets cloudy out there longer than a week from Sunday does not mean we should stop making the adjustments,” Mr Clausen said.
“The way we dig ourselves out of the debt hole is not going to be quick.” He said the debt problem would be with the world for the remainder of the decade.
“Hopefully, we will have sustainable recovery on the long haul, and, if that bears up, we are better off, rather than a roller-coaster, which we have been experiencing over recent times,” he said.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19840504.2.38
Bibliographic details
Press, 4 May 1984, Page 4
Word Count
237World Bank’s head has talks with P.M. Press, 4 May 1984, Page 4
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.