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The World Bank is an international financial institution that provides loans and grants to the governments of low-and middle-income countries for the ... In the 1970s ...
Website. worldbank.org. The World Bank Group (WBG) is a family of five international organizations that make leveraged loans to developing countries. It is the largest and best-known development bank in the world and an observer at the United Nations Development Group. [7] The bank is headquartered in Washington, D.C., in the United States.
Incumbent. Ajay Banga. since June 2, 2023. Term length. Five years, renewable. Website. president.worldbankgroup.org. The president of the World Bank Group is the head of World Bank Group. The president is responsible for chairing the meetings of the boards of directors and for overall management of the World Bank Group.
The price of gold, as denominated in US dollars, was stable until the collapse of the Bretton Woods system in the mid-1970s. The Bretton Woods system of monetary management established the rules for commercial relations among the United States, Canada, Western European countries, and Australia and other countries, a total of 44 countries [1] after the 1944 Bretton Woods Agreement.
Mexico Crude oil prices from 1861 to 2011. The Latin American debt crisis (Spanish: Crisis de la deuda latinoamericana; Portuguese: Crise da dívida latino-americana) was a financial crisis that originated in the early 1980s (and for some countries starting in the 1970s), often known as La Década Perdida (The Lost Decade), when Latin American countries reached a point where their foreign debt ...
Republican. Education. Carthage College (BA) University of Minnesota, Twin Cities (LLB) Alden Winship "Tom" Clausen[1] (February 17, 1923 – January 21, 2013) [2] was President of the World Bank from 1981 to 1986. He was also president and CEO of Bank of America in 1970 and again in 1986.
Berg report. The Berg report is the name most commonly used for the World Bank -published report "Accelerated Development in Sub-Saharan Africa: A Plan for Action," written by Elliot Berg in 1981. The report was written in response to a 1979 request from the African Governors of the World Bank for a paper analyzing the development problems ...
Later in the 1970s, large commercial banks began lending to states because they were awash in cash deposited by oil exporters. The lending of the so-called money center banks led to the IMF changing its role in the 1980s after a world recession provoked a crisis that brought the IMF back into global financial governance. [46]