Remarks prepared for delivery by A. W. Clausen, President, the World Bank before the Latin American Industrialists Association

This report presents the remarks delivered by A. W. Clausen, President, the World Bank. He discusses that the World Bank has gained a deep respect for the economic dynamism of Latin America over the last generation, and it is expected that this dynamism to outlast and to help overcome today’s global recession; governments can afford policies which may be comfortable in the short term but counterproductive in the long term; and how the World Bank can contribute to the region and mention some new initiatives to expand the impact.