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IMF Offers Ebola-related Financial Aid
The International Monetary Fund has announced a 330 million dollar financing package for the countries hardest hit by the Ebola epidemic. It includes 170 million dollars in debt relief. The economies of Guinea, Liberia and Sierra Leone have suffered over the past year as the disease has spread.
Under the plan, $100 million in relief would come directly from the IMF, while $70 million would come in the form of debt forgiveness by IMF member nations.
Jubilee USA Network Executive Director Eric LeCompte, said, “We’re incredibly excited about it and we had been working on this plan for quite some time. Initially, we brought the idea to the White House for a hundred million dollars in debt relief – and to use an existing trust at the IMF to do that. They then brought it to the G20. The G20 then affirmed it and said we want at least a $300 million financing plan – and instructed the International Monetary Fund to create a financing plan that included debt relief, grants and loans.”
Jubilee is a faith-based anti-poverty organization.
“Essentially, by international law debt relief has to go into building infrastructure. So it’ll be building hospitals, health care facilities and schools in the three countries. This type of aid is aid that becomes immediately available. And the countries, instead of making debt payments, now put that money into building social infrastructure,” he said.
LeCompte would like to see an even broader relief for Guinea, Liberia and Sierra Leone.
The debt relief coming directly from the IMF is being done through the new Catastrophe Containment and Relief Window Trust.
He said, “What took place at the International Monetary Fund is they took a previous mechanism that was used to cancel the debt from Haiti in 2010 and they expanded that. And what this facility is able to do is when a very poor country – the poorest countries of the world – have an earthquake, a hurricane, any kind of major tragedy or health epidemic – they would qualify for either debt relief or innovative financing from grant-like monies provided from the International Monetary Fund.”
LeCompte said the trust could greatly change how debt relief is given.
“Right now, when any country is struggling or has a challenge, they need to go on their hands and knees to the International Monetary Fund or the Paris Club and beg for debt forgiveness. And it’s a very challenging process, but what we have right now is much more responsible. It will only impact essentially the 20 poorest countries in the world when they have an economic shock, like an epidemic or a hurricane, they have a place to go to for aid and relief.”
The Paris Club, created in 1956, is a group of creditors that provides debt reduction or payment postponement to some countries.
The Jubilee USA Network executive director spoke to VOA from the United Nations headquarters in New York. He addressed the General Assembly February 5th on debt, which he says is the main reason for global financial crises.
“The General Assembly of the United Nations has voted to create a legally binding, international bankruptcy process. And this week in New York is the first week of negotiations on creating that process. And I was asked to address all the delegates to talk about how this process can move forward -- what’s necessary for the process,” he said.
The IMF plan will not eliminate all the debt for Guinea, Liberia and Sierra Leone. The countries are reported to have a “combined debt stock of over three billion dollars.” That’s blamed on past dictatorships, civil wars and one party rule.
词汇解析
critical
难度：4星核心词汇，属常用3000词
英汉解释
adj.批评的；挑剔的；决定性的；危险的
adj.临界的
参考例句
用作形容词 (adj.)
It is difficult enough to be critical of our own mistakes.
对我们自己的错误采取批评的态度确实非常困难。
These materials become quite soft and flexible above critical temperature.
这些材料在临界温度以上变得十分柔软和易于弯曲。
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leisure
难度：4星核心词汇，属常用3000词
英汉解释
n.闲暇；休闲
参考例句
用作名词 (n.)
Are you at leisure just now?
你现在有空吗？
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penetrate
难度：3星常用词汇，属常用6000词
英汉解释
v.渗透；看穿；穿透；了解；（情报人员的）渗透
参考例句
用作动词 (v.)
The University Chinese training should penetrate the humanity consciousness
大学语文教育应渗透人文精神
The organization was penetrated and the survivors fled.
该组织遭到渗透，幸存者已逃逸了。
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critic
难度：3星常用词汇，属常用6000词
英汉解释
n.评论家；批评家
参考例句
用作名词 (n.)
She is a very discerning art critic.
她是位眼光敏锐的艺术评论家。
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proportion
难度：4星核心词汇，属常用3000词
英汉解释
n.部分；比例；均衡；（复）规模
vt.使成比例；使均衡；分摊
参考例句
用作名词 (n.)
A large proportion of my time is spent in studying.
我的大部分时间花在学习上。
用作及物动词 (vt.)
The fund shall be distributed among the claimants in proportion to the amounts of their established claims.
该项基金应在索赔人之间依其提出的索赔额比例进行分摊。
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reveal
难度：4星核心词汇，属常用3000词
英汉解释
vt.显示；透露；揭示；展现
n.(外墙与门或窗之间的)窗侧；门侧；(汽车的)窗框
参考例句
用作及物动词 (vt.)
Several withered trees on the sides of the road reveal the desolation here.
道路两旁的几棵枯木显示出这里的荒凉。
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rebellion
难度：2星扩展词汇，属常用10000词
英汉解释
n.叛乱；反抗
参考例句
用作名词 (n.)
The rebellion was soon stamped on by the army.
军队很快平息了叛乱。
The people would rise in open rebellion if oppressed by a monarchy.
如果遭到君主制的压迫，人民就会起来反抗。
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