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International Monetary Fund. External Relations Dept.

Mr. Robert S. McNamara, President of the World Bank, spoke of “absolute poverty” during his address to the Annual Meetings of the Bank and the Fund in Nairobi in 1973, as “a condition of life so degraded by disease, illiteracy, malnutrition, and squalor as to deny its victims basic human necessities.” Absolute poverty, he said, was the lot of 40 per cent of the peoples of the developing countries. There was a marked shift in emphasis in the Bank’s development policies following Mr. McNamara’s speech at Nairobi. This series of articles explains how the Bank is

International Monetary Fund. External Relations Dept.

“Massive disparities” in global living standards will continue The “massive disparities” of living standards in the world are likely to continue, Mr. Robert S. McNamara, President of the World Bank, said in Geneva in an address to the Economic and Social Council (ECOSOC) of the United Nations on July 23. For his address, Mr. McNamara drew on projections and analyses from the World Development Report, 1979 , of the World Bank (see article “World Development Report, 1979—main themes” on page 35 of this issue). The purpose of this Report , said Mr