World Bank
In 1981 he was appointed President of the World Bank. He was replaced 5 years later by Barber Conable.
Clausen's term as World Bank president saw the massive scaling up of structural adjustment lending that had been introduced under his predecessor Robert McNamara.
Read more about this topic: Alden W. Clausen
Famous quotes containing the words world and/or bank:
“The world is never quiet, even its silence eternally resounds with the same notes, in vibrations which escape our ears. As for those that we perceive, they carry sounds to us, occasionally a chord, never a melody.”
—Albert Camus (1913–1960)
“The prairies were dust. Day after day, summer after summer, the scorching winds blew the dust and the sun was brassy in a yellow sky. Crop after crop failed. Again and again the barren land must be mortgaged for taxes and food and next year’s seed. The agony of hope ended when there was not harvest and no more credit, no money to pay interest and taxes; the banker took the land. Then the bank failed.”
—Rose Wilder Lane (1886–1968)