2019年经济学人 国际货币基金组织—拉加德的改变(2)

国际货币基金组织—拉加德的改变(2)

In practice the fund rarely operates that way. It is reluctant to cut its members off, especially if they have powerful friends.

实际上，基金很少以这种方式运作。它不愿切断与其成员的联系，尤其是如果他们有强大的朋友。

This month, for example, it approved a $6bn loan to Pakistan, which has often flouted¹ its prescriptions² in the past.

例如，本月，IMF批准向巴基斯坦借贷60亿美元，而巴基斯坦过去常常无视IMF开出的处方。

And even its biggest-ever loan, over $50bn approved for Argentina last year,

甚至是其有史以来最大的一笔贷款，去年批准给阿根廷的贷款超过500亿美元，

was not enough to stop capital fleeing and the peso slumping³ in subsequent months.

也不足以阻止资本外逃，并且比索在接下来的几个月里大幅贬值。

Rather than rely on the uncertain protection of the fund, many members have chosen to look after themselves,

许多成员国选择照顾好自己，而不是依赖于IMF不确定的保护

accumulating over $11trn-worth of reserves between them.

他们彼此之间累积了价值超过110万亿美元的外汇储备。

Its next boss will find its cupboard a little bare. America is opposed to increasing members' "quotas⁴":

其下一任总裁将发现他的橱柜有些空旷。美国反对增加成员国的“配额”：

their permanent financial commitments to the fund (which now come to $660bn).

他们对基金的永久财政承诺（现到6600亿美元）。

Instead the IMF is trying to shore up alternative sources of financing, including $250bn it has borrowed for five years from 40 richer members.

相反，IMF试图支持其他的融资来源，包括其向40个较富裕的成员国借出的2500亿美元，期限为5年。

Limited firepower also threatens its legitimacy⁵. A country's financial contribution to the IMF determines its share of votes in the institution.

有限的火力也威胁到了它的合法性。一个国家对IMF的财政贡献决定了它在该组织中的投票权份额。

So without an overall increase in quotas,

所以如果整体配额不增加的话，

the fund will struggle to redistribute voting power from over-represented countries in Europe to faster-growing members elsewhere.

IMF就难以将投票权从代表超额的欧洲国家重新分配给其他增长更快的成员国。

To do so would require cutting some members' stakes in absolute terms, rather than merely freezing them as others expand.

要做到这一点，就需要削减一些成员国的绝对配额，而不是仅仅在其他成员国扩张时冻结它们。

China, according to the IMF's independent evaluation⁶ office,

根据IMF的独立评估办公室，

is now more under-represented than it was before the voting reform of 2008,

与2008年投票改革前相比，现在中国的代表人数更少，

because its share of global GDP has grown faster than its share of IMF votes.

因为它在全球GDP中所占的份额比在IMF投票中所占的份额增长得更快。

The fund's response to this impasse⁷ has been innovative⁸.

IMF对此绝境的反应很新颖。

Just as it has sought alternative sources of financing, it has also sought alternative wells of legitimacy.

正如它寻求其他融资来源一样，它也在寻找其他合法来源。

Ms Lagarde has energetically broadened its concerns to include inequality, gender⁹ and climate change.

拉加德女士积极扩大了IMF关注的范围，包括不平等、性别和气候变化。

Critics worry that the IMF is now spreading itself too thinly,

批评人士担心IMF现在的扩张力度太单薄，

taking on new tasks when it has yet to master its customary responsibilities.

在尚未掌握日常职责的情况下承担了新的任务。

It does not seem sure how to stop prices from rising in Argentina or those in Japan from threatening to fall.

它似乎不确定如何阻止阿根廷或日本的物价上涨，以免出现下跌的威胁。

Should it wage an additional crusade against rising temperatures worldwide?

它是否应该在世界范围内发起一场反对气温上升的运动？

But its new preoccupations may also help it meet some of its core duties.

但它的新关注点也可能帮助它履行一些核心职责。

Its traditional advice to tighten¹⁰ belts, for example,

例如其勒紧裤腰带的传统建议

carries more weight in many parts of the world because it has shown that it is sensitive to broader social ills.

在世界许多地方更有分量，因为这表明它对更广泛的社会弊病很敏感。

Good parents know that showing the cane¹¹ is no substitute for showing that you care.

优秀的父母知道，挥舞藤条并不能代替你的关心。

1 flouted   

v.藐视，轻视( flout的过去式和过去分词 )

参考例句：

• North Vietnam flouted the accords from the day they were signed. 北越从签字那天起就无视协定的存在。 来自辞典例句
• They flouted all our offers of help and friendship. 他们对我们愿意提供的所有帮助和友谊表示藐视。 来自辞典例句

2 prescriptions   

药( prescription的名词复数 )； 处方； 开处方； 计划

参考例句：

• The hospital of traditional Chinese medicine installed a computer to fill prescriptions. 中医医院装上了电子计算机来抓药。
• Her main job was filling the doctor's prescriptions. 她的主要工作就是给大夫开的药方配药。

3 slumping   

大幅度下降，暴跌( slump的现在分词 )； 沉重或突然地落下[倒下]

参考例句：

• Hong Kong's slumping economy also caused a rise in bankruptcy applications. 香港经济低迷，破产申请个案随之上升。
• And as with slumping, over-arching can also be a simple postural habit. 就像弯腰驼背，过度挺直也可能只是一种习惯性姿势。

4 quotas   

（正式限定的）定量( quota的名词复数 )； 定额； 指标； 摊派

参考例句：

• In fulfilling the production quotas, John made rings round all his fellow workers. 约翰完成生产定额大大超过他的同事们。
• Quotas of the means of production are allocated by the higher administrative bodies to the lower ones. 物资指标按隶属关系分配。

5 legitimacy   

n.合法，正当

参考例句：

• The newspaper was directly challenging the government's legitimacy.报纸直接质疑政府的合法性。
• Managing from the top down,we operate with full legitimacy.我们进行由上而下的管理有充分的合法性。

6 evaluation   

n.估价，评价；赋值

参考例句：

• I attempted an honest evaluation of my own life.我试图如实地评价我自己的一生。
• The new scheme is still under evaluation.新方案还在评估阶段。

7 impasse   

n.僵局；死路

参考例句：

• The government had reached an impasse.政府陷入绝境。
• Negotiations seemed to have reached an impasse.谈判似乎已经陷入僵局。

8 innovative   

adj.革新的，新颖的，富有革新精神的

参考例句：

• Discover an innovative way of marketing.发现一个创新的营销方式。
• He was one of the most creative and innovative engineers of his generation.他是他那代人当中最富创造性与革新精神的工程师之一。

9 gender   

n.（生理上的）性，（名词、代词等的）性

参考例句：

• French differs from English in having gender for all nouns.法语不同于英语，所有的名词都有性。
• Women are sometimes denied opportunities solely because of their gender.妇女有时仅仅因为性别而无法获得种种机会。

10 tighten   

v.(使)变紧；(使)绷紧

参考例句：

• Turn the screw to the right to tighten it.向右转动螺钉把它拧紧。
• Some countries tighten monetary policy to avoid inflation.一些国家实行紧缩银根的货币政策，以避免通货膨胀。

11 cane   

n.手杖，细长的茎，藤条；v.以杖击，以藤编制的

参考例句：

• This sugar cane is quite a sweet and juicy.这甘蔗既甜又多汁。
• English schoolmasters used to cane the boys as a punishment.英国小学老师过去常用教鞭打男学生作为惩罚。