外刊阅读 | 如何解决国际货币基金组织的危机(二)

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前接上回：外刊阅读 | 如何解决国际货币基金组织的危机（一）

P4：Today the fund’s role as a crisis lender is both shrunken and less successful. Many big emerging markets have amassed vast quantities of foreign-exchange reserves to guard against currency crises. Some 30% of the fund’s outstanding lending has gone to just one borrower, Argentina. The IMF lends to countries like Egypt and Pakistan, which are strategically important to America. But these have gained licence to put off reform indefinitely; the fund has been urging Pakistan to mend its sales tax since at least 1997. And the IMF is no longer the only crisis lender in town. (1)Gulf countries including Saudi Arabia now offer emergency cash, often using obscure methods, say by depositing money at the borrower’s central bank.

参考译文：如今，该基金的危机贷款人职能不仅在缩水，而且也没有那么成功。许多大型新兴市场已经积累了大量的外汇储备以防范货币危机。而该基金约 30% 的未结清贷款只流向了一个借款人，即阿根延。IMF 会向埃及和巴基斯坦等对美国具有战略意义的国家提供贷款。但是这些国家已被允许无限期推迟改革；至少从 1997 年开始，IMF 就一直在敦促巴基斯坦修改其销售税。而且 IMF 也已不再是唯一的危机贷款人了。如今，包括沙特阿拉伯在内的波斯湾国家也提供紧急贷款，他们通常使用很隐蔽的方法，比如将钱存入借款人的中央银行。

1. 词汇注释

重点词汇

amass 集聚，积累，大量收集（尤指钱或信息） 发音：UK/əˈmæs/ US/əˈmæs/ She has amassed a huge fortune from her novels.   她靠写小说慢慢积攒了一大笔钱。

outstanding 未支付的；未解决的；未完成的 $450 million in outstanding debts   4.5亿美元的拖欠债款 There are still a couple of problems outstanding.   还有几个问题没有解决。 它还有“优秀的；卓越的；出众的”的意思。 It's an area of outstanding natural beauty.   这一地区自然风景极为优美。

obscure 费解的，晦涩的；模糊的，朦胧的；不清楚的 发音：UK/əbˈskjʊər/ US/əbˈskjʊr/ Official policy has changed, for reasons that remain obscure.   官方的政策已改变，原因尚不清楚。 它还有“无名的；鲜为人知的；默默无闻的”的意思。 an obscure island in the Pacific   太平洋中的无名小岛

认知词汇

emerging market 新兴市场

put off 推迟，拖延

indefinitely 不确定地；不清楚地；无限期地

the Gulf 波斯湾；波斯湾各国；海湾国家

2.长句精析

Gulf countries including Saudi Arabia now offer emergency cash, often using obscure methods, say by depositing money at the borrower’s central bank.(23词)

主干提取

本句主干为：countries + offer + cash，为主谓宾结构，意为国家提供资金。

枝干分析


Gulf 和 including Saudi Arabia 分别为 countries 的前置和后置定语；

emergency 为 cash 的定语；

often using obscure methods 为状语，修饰 offer cash，表明提供资金的方式；

say 这里可以当作连词，类似于 for example；

by depositing money at the borrower’s central bank 修饰 methods，列举一种（隐蔽的）方法。


语义梳理


语序梳理：now这个时间状语可以提到最前翻译，后置定语可以提前翻译。cash 这里不一定是现金，结合前文可以理解成贷款。后面的方式方法可以单独成句翻译。

组织译文：如今，包括沙特阿拉伯在内的波斯湾国家也提供紧急贷款，他们通常使用很隐蔽的方法，比如将钱存入借款人的中央银行。

P5：The main problem is that China has become a big creditor to the poorest countries, whose needs are small but urgent. Rising interest rates and the pandemic have left at least 21 in default or seeking debt restructuring, and many more look fragile. (1)Yet China is reluctant to participate in debt write-downs, in part because it objects to the IMF not bearing its share of losses-a vital safeguard for a lender of last resort. The fund has not overseen a single write-down involving China since the crisis started.

参考译文：现在的主要问题是，中国已成为许多最不富裕国家的大债权人，这些国家的资金需求虽然小但很紧迫。利率上升和新冠疫情已导致至少 21 个国家拖欠还款或寻求债务重组，还有更多国家看起来很脆弱。然而，中国并不愿意参与债务减记，部分原因是中国反对 IMF 不承担其损失责任的行为——这是贷款人最后的重要保障。自危机爆发以来，IMF 从未监督过任何涉及中国的债务减记。

1. 词汇注释

重点词汇

default 拖欠，不履行债务；违约 People who default on their mortgage repayments may have their home repossessed.   未能按期偿还抵押贷款者，其房屋可能会被收回。 它还作为名词，也是“违约；拖欠”的意思，还有“默认结果，既定结果；预置值；缺省值”的意思。 Unless something else is agreed, the default is to meet at the hotel at 7.00 p.m.   如果没有变化，按约定下午7点在酒店见面。

write down 降低…的账面价值 The building cost £700,000 to build, but it was written down to £300,000.   修建这栋楼花费了70万英镑，现在其账面价值只有30万镑了。 名词形式的write-down的意思即为“降低账面价值”的这种行为。

认知词汇

last resort 最后一招

2.长句精析

Yet Chinaisreluctantto participate in debt write-downs, in part because it objects to the IMFnot bearing its share of losses-a vital safeguard for a lender of last resort.(33词)

主干提取

本句主干为：China + is + reluctant + to participate，结构为主系表 + 表语补足语。后面内容为 because 引导的原因状语从句，主干为：it + objects to + IMF + not bearing share，结构为主谓宾宾补。

枝干分析


in debt write-downs 修饰 participate，表示参与的对象；

in part 修饰 because，表示程度，即部分原因是 xxx；

its 和 of losses 分别为 share 的前置和后置定语；

a vital safeguard for a lender of last resort 作为插入语，解释说明 IMF bearing its share of losses 是最后的重要保障。


语义梳理


语序梳理：本句翻译难度不是很大，这里可能需要用到一个“增译”的技巧。it objects to the IMF not bearing its share of losses 翻译过来就是“中国反对 IMF 不承担其损失责任”，在后面再增译“的行为”会比较好一些，反对 xxx 行为，比较搭配；如果不加的话，会感觉少了些什么。

组织译文：然而，中国并不愿意参与债务减记，部分原因是中国反对 IMF 不承担其损失责任的行为——这是贷款人最后的重要保障。

P6：Without them, countries’ finances may not be sustainable even as creditors are bailed out. America worries about IMF funds flowing into China’s pockets. (1)Although many loans have been approved, most are supposed to be conditional on restructuring that has not been agreed on—much of the cash intended for Suriname, for example, has been in limbo for more than a year. As the fund has floundered, China has boosted its own emergency lending.

参考译文：如果没有债务减记，即使债权人脱离了困境，许多国家的财政可能都难以为继。美国担心IMF的资金会流入中国的口袋。尽管许多贷款已获批，但大多数都以债务重组为条件，而双方并未就债务重组达成一致——举例来说，计划用于苏里南的大部分资金已被搁置一年多了。在IMF陷入困境之际，中国增加了自身的紧急贷款。

1. 词汇注释

重点词汇

bail out 纾困；救助；保释 These enterprises think they can force the banks to bail them out.   这些企业认为他们可以强迫银行解救他们。

limbo 悬而未决；停滞不前 发音：UK/ˈlɪm.bəʊ/ US/ˈlɪm.boʊ/ Until we have official permission to go ahead with the plans we're in limbo.   在该计划得到正式批准之前，我们一直处于停滞状态。

flounder 困难重重；艰苦挣扎；不知所措 发音：UK/ˈflaʊn.dər/ US/ˈflaʊn.dɚ/ Although his business was a success, his marriage was floundering. 他虽然事业有成，可婚姻却陷入了困境。

boost 改善；提高；增强；推动 The theatre managed to boost its audiences by cutting ticket prices.   剧院设法通过降低票价来增加观众数量。 boost shot：加强针

2.长句精析

Although many loans have been approved, most are supposed to be conditional on restructuring that has not been agreed on—much of the cash intended for Suriname, for example, has been in limbo for more than a year.(38词)

主干提取

本句主干为：most + are supposed to be + conditional + on restructuring，结构为主系表 + 表语补足语。主语为 most，结合前文可知是指 most loans。这里将整个 are supposed to be 看成为一个系动词，on restructuring 作为表语 conditional 的补足语。破折号后的内容作为插入语，举例说明前面的重组并未达成一致；这里的主干为：cash + has been + in limbo，为主系表结构。

枝干分析


Although many loans have been approved 为让步状语从句；

that has not been agreed on 为 restructuring 的后置定语；

intended for Suriname 为修饰 cash 的后置定语；

for example 为插入语；

for more than a year 为时间状语，表明处于此状态已经一年多了。


语义梳理


语序梳理：这里 restructuring 的后置定语如果与前面结合在一起翻译，不太好翻译，建议单独处理成小句。for example 这样的插入语可以提前翻译，英语中很多插入语喜欢插在中间，但在中并汉语不喜欢插在中间说。

组织译文：尽管许多贷款已获批，但大多数都以债务重组为条件，而双方并未就债务重组达成一致——举例来说，计划用于苏里南的大部分资金已被搁置一年多了。

《未完待续》

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本文节选自：The Economist（经济学人）

原文标题：How to fix the International Monetary Fund

发布日期：2023.4.5

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作者：iLearning4ever