“Countries that benefit from World Bank financing should ensure that all loans they request and all foreign direct investment they receive are used in a manner that advances the enjoyment of human rights and does not result in the enrichment of a few at the expense of the many.”

— Alfred de Zayas

Report of the Independent Expert on the adverse impact of World Bank policies on human rights and the realisation of a democratic and equitable international order
2017, Report submitted to the UN Human Rights Council

Adopted from Wikiquote. Last update June 3, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote "Countries that benefit from World Bank financing should ensure that all loans they request and all foreign direct inves…" by Alfred de Zayas?

Alfred de Zayas176

American United Nations official 1947

Related quotes

“The true order of events shows that orthodoxy clearly has reversed the process through which investment is funded. Banks do not begin as intermediaries which accept deposits of 'savers' and then make loans to 'investors', for this would assume that the public has already developed the 'banking habit'. This habit is the end result of public experience with short term bank liabilities which have been created as banks extend short term credit to finance working capital expenses.”

L. Randall Wray (1953) American economist

Source: Money and Credit in Capitalist Economies, 1990, p. 58; as cited in: Stein (1994).

“The intention of the US found its feature through a clear formulation in the Agreement for the IBRD. The “purposes of the Bank” were defined as follows: “To promote private foreign investment by means of guarantees or participations in loans and other investments made by private investors; and when private capital is not available on reasonable terms, to supplement private investments by providing, on suitable conditions, finance for productive purposes out of its own capital, funds raised by it and its other resources””

Nico Perrone (1935) Italian historian and writer

Source: The international economy from a political to an authoritative drive, p. 130

“The US owes the world. The US "superpower" cannot even finance its own domestic operations, much less its gratuitous wars except via the kindness of foreigners to lend it money that cannot be repaid.The US will never repay the loans. The American economy has been devastated by offshoring, by foreign competition, and by the importation of foreigners on work visas, while it holds to a free trade ideology that benefits corporate fat cats and shareholders at the expense of American labor. The dollar is failing in its role as reserve currency and will soon be abandoned.When the dollar ceases to be the reserve currency, the US will no longer be able to pay its bills by borrowing more from foreigners.”

Paul Craig Roberts (1939) American economist

"A Bankrupt Superpower," CounterPunch (2008-03-18)

“Scientific inventions, at all conceivable levels should enrich human life, not threaten existence. Science should be the greatest ally, not the worst enemy of mankind. Only so can the world, not only respond to the worthy efforts of Nobel, but also ensure itself against self-destruction. Indeed the challenge is for us to ensure the world from self-destruction. In our contribution to peace we are resolved to end such evils as oppression, white supremacy and race discrimination, all of which are incompatible with world peace and security. There is indeed a threat to peace.”

Albert Lutuli (1898–1967) South African politician

Lutuli's Acceptance Speech http://www.nobelprize.org/nobel_prizes/peace/laureates/1960/lutuli-acceptance.html of the Nobel Peace Prize (December 10, 1961). <br class="br">Nobel Prize acceptance speech (1961)

“All the real money in investment will have to be made—as most of it has been in the past— not out of buying and selling but out of owning and holding securities, receiving interests and dividends therein, and benefiting from their long-term increases in value. Hence stockholder's major energies and wisdom as investors should be directed toward assuring themselves of the best operating results from their corporations. This in turn means assuring themselves of fully honest and competent managements.”

Benjamin Graham (1894–1976) American investor

Source: The Intelligent Investor: The Classic Text on Value Investing (1949), Chapter I, What the Intelligent Investor Can Accomplish, p. 17

“If evils will result from the commingling of the two races upon public highways established for the benefit of all, they will be infinitely less than those that will surely come from state legislation regulating the enjoyment of civil rights upon the basis of race.”

John Marshall Harlan (1833–1911) United States Union Army officer and Supreme Court Associate Justice

We boast of the freedom enjoyed by our people above all other peoples. But it is difficult to reconcile that boast with a state of the law which, practically, puts the brand of servitude and degradation upon a large class of our fellow-citizens, our equals before the law. The thin disguise of "equal" accommodations for passengers in railroad coaches will not mislead anyone, nor atone for the wrong this day done.
1890s, Plessy v. Ferguson (1896)

“When every benefit received is a right, there is no place for good manners, let alone for gratitude.”

Theodore Dalrymple (1949) English doctor and writer

What is Poverty? http://www.city-journal.org/html/9_2_oh_to_be.html (Spring 1999). <br class="br">City Journal (1998 - 2008)

“WHEREFORE, security being the true design and end of government, it unanswerably follows, that whatever FORM thereof appears most likely to ensure it to us, with the least expense and greatest benefit, is preferable to all others.”

Thomas Paine (1737–1809) English and American political activist

1770s, Common Sense (1776)

“The capitalists of a country which manages to capture foreign markets from other countries are able to increase their profits at the expense of the capitalists of the other countries. Similarly, a colonial metropolis may achieve an export surplus through investment in its dependencies.”

Michał Kalecki (1899–1970) Polish economist

Source: Theory of Economic Dynamics (1965), Chapter 3, The Determinants of Profits, p. 51

“You couldn't advance in a finance department in this country unless you taught that the world was flat.”

Warren Buffett (1930) American business magnate, investor, and philanthropist

As quoted in "The Heresy That Made Them Rich" by Joseph Nocera, in The New York Times (29 October 2005) http://query.nytimes.com/gst/fullpage.html?res=9B00E1D71E3FF93AA15753C1A9639C8B63

“Countries that benefit from World Bank financing should ensure that all loans they request and all foreign direct investment they receive are used in a manner that advances the enjoyment of human rights and does not result in the enrichment of a few at the expense of the many.”

Help us to complete the source, original and additional information

Alfred de Zayas176

Related quotes

Related topics