This paper describes what the limits to growth are. The paper highlights that many critical variables in global society—particularly population and industrial production—have been growing at a constant percentage rate so that, by now, the absolute increase each year is extremely large. Such...

This paper highlights that in July 1975, an interdepartmental task force, chaired by the Director of the Bank’s Transportation and Urban Projects Department, had been established to develop an “urban poverty action program.” This task force published, in March 1976, an interim report...

This paper highlights that the IMF, as Trustee for the Trust Fund, held the first of its series of gold auctions on June 2, 1976, with the sale of 780,000 ounces of gold—the total amount offered—at a common price of US$126.00 a fine ounce. The first gold auction was a success from the point...

This paper highlights that the World Bank and its affiliate, the International Development Association (IDA), will support three projects in Kenya—one for rural access roads, an additional for integrated rural development, and a third for wildlife and tourism. A US$4 million loan and a US$4...

This paper highlights that 1976 was an important year for the IMF. With the end of 1976, the IMF closed its books on a year of virtually unprecedented activity. It launched the New Year with a US$3.9 billion stand-by arrangement for the United Kingdom, the largest ever made for a member country....

This paper highlights that IMF activities in the first three months of 1977 were marked by a number of “firsts.” In addition to approving the largest stand-by arrangement in its history—the SDR 3.36 billion for the United Kingdom—the IMF welcomed its first new member of the year:...

This paper highlights that since its inception in 1956, the International Finance Corporation (IFC) has invested more than US$1.7 billion in nearly 300 enterprises in 62 developing countries in total projects costing about US$9 billion. The IFC is the affiliate of the World Bank, which has been...

This paper examines the expanded role for the International Finance Corporation (IFC) with a major capital increase. The paper highlights that for the first time in its history, the IFC is undertaking a major increase of its share capital. In a decision made by its Board of Governors in November...

This paper discusses the appointment of Jacques de Larosière as Managing Director in the IMF. He assumed his duties at the IMF on June 17, 1978, succeeding Mr. H. Johannes Witteveen, of the Netherlands, whose service ended on June 16, 1978. Mr. de Larosière, 48, was Director of the French...

This paper focuses on the Fourth Annual Review of Project Performance Audit Results. The paper highlights that the purpose of the Review is to provide lessons of experience relevant to the World Bank’s current practices that can be applied to the design and implementation of future projects....