James Wolfensohn
James Wolfensohn
James David Wolfensohn, KBE, AOis an Australian-American lawyer, investment banker and economist who served as the ninth president of the World Bank Group...
NationalityAustralian
ProfessionBusinessman
Date of Birth1 December 1933
CountryAustralia
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His work in the developing world has afforded him a deep understanding of the many challenges of development. He knows what a remarkable institution this is, he appreciates its outstanding team of development professionals, and I know he will bring continuity to its programs and its mission of fighting poverty.
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We estimate that tens of thousands more children will die worldwide and some 10 million people are likely to be living below the poverty line of $1 a day because of the terrorist attacks.
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Our focus is on poverty, which is an issue that affects everybody, but there's little doubt that other events of interest will make their way into different discussions,
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Outside these walls, young people are demonstrating against globalisation, ... I believe deeply that many of them are asking legitimate questions, and I embrace the commitment of a new generation to fight poverty. I share their passion and their questioning.
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We've been discussing (these points) for 20 weeks and have yet to reach finality.
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Time is short, and optimism is a fragile commodity, ... miss this opportunity for change, we will regret it for the next decade.
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We respect the demonstrators' right to protest, but who wins by shutting down discussion of some of the world's most pressing problems?
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Unless a solution is found, we may be facing the financial collapse of the PA within two weeks.
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We are looking to put together a package which will ensure the financial pressure is relieved for the coming period.
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We are also looking economically at an 8 trillion dollar economy, in the developing world growing seven to eight times in the next 50 years and the rich world 2 1/2 times. These are dramatic shifts.
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There is a need for cultural change in the bank to trust NGOs and to talk to them, but there is an equal need for some members of civil society to give us a chance and not say simply that it's the bank and it must be evil,
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I have listened to the President about how to move along in light of this new situation.
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I did embrace him (Bono) but I did not agree with him,
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I am just going to see in the next quarter of this year what my own plans are, and see whether I can still make a contribution, or maybe there will be others who can do better than me.