Expansion

standard — rule, basis, or guide for making a decision

credit standard — demands made by the lender; a test for the capacity to replay a loan

You must meet the bank's credit standards if you want a loan

to project — to plan, guess in advance

deficit — lack, shortage of money

Your budget says you have $800, but your projected expenses are $ 9000. You're going to have a $100 deficit this month.

reform — a change to make something better; a corrective change

to impose — to make or force someone to do something

The government imposed important economic reforms on the country.

demanding — strict, severe; insisting that rules and regulations be followed exactly

terms — requirements, demands

The terms of the contract are very demanding.

to devalue — to lower the rate at which one currency is exchanged for anther.

The government of Mexico has decided to devalue the peso.

Supplementary Vocabulary

devaluation — lowering of the rate at which one-currency is exchange another

The country has had three devaluations this year.

strengthen — make stronger; opposite of weaken

oil-rich — having a lot of oil (said of countries or regions)

Vocabulary Practice

Select the answer that correctly completes each sentence

1. Those countries need __________ financing to establish their programs of industrialization.

a. outstanding b. weakening c. additional

2. The managing director __________ that the loan will be repaid in five years.

a. projects b. imposes c. persuades

3. Bankers worry that the IMF is lowering its _______________.

a. standards b. gross national product c. basic goods

4. Several countries have had to ______________ their currency recently.

a. borrow b. devalue c. increase

5. Because of high payments for oil, many oil-poor nations face big ___________ their budgets.

a. volumes b. deficits c. conditionality

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Date: 2014-12-28; view: 1117