Task 7 Complete the following sentences with the information from the text.
1. The representatives of the major states gathered at Bretton Woods to …
2. The world economic crises such as … can be prevented through …
3. There was no agreement among nations on the issues of …
4. The Russians demanded that …
5. The IMF’s Board of Governors is different in membership from the Executive board as …
6. The annual analysis on the … is carried out by the IMF.
7. Three controversial issues in the IMF’s policies are whether …
8. The World Bank inherited the functions previously performed by ….
9. The MDGs refer to …
10. In Bangladesh, children and their mothers …
11. In Bosnia, small entrepreneurs …
12. In Peru, rural dwellers now …
13. In Brazil, rainforests …
Task 8 This is a list of people delegated to the Bretton Wood conference by their governments. What do you know about these people? Search information on the internet to speak about the people in more detail.
1. Henry Morgenthau
2. Harry Dexter White
3. Dean Acheson
4. John Maynard Keyne
5. Louis Raminsky
6. Kyriakos Varvaressos
7. Johan Beyen
8. Walter Lippman
VOCABULARY
Collocations
Task 9 Find words in text 1 ( The History of International Organization) which mean the same as the following:
| 1. ancestry | ||||||||||||||||||
| 2. joint project | ||||||||||||||||||
| 3. remarkable | ||||||||||||||||||
| 4. a half of the earth | ||||||||||||||||||
| 5. a branch organization | ||||||||||||||||||
| 6. dissimilar | ||||||||||||||||||
| 7. replace | ||||||||||||||||||
| 8. something that is passed down | ||||||||||||||||||
| 9. contain | ||||||||||||||||||
| 10. consequence | ||||||||||||||||||
| 11. rapid growth | ||||||||||||||||||
| 12. means | ||||||||||||||||||
| 13. extent | ||||||||||||||||||
14. scope
Task 10 Find phrases in text 2 that mean the same as the following:
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Task 11 Read the text and complete the gaps with the words from the box. Sometimes you will have to change the form of the word so that it fits the gap.
amount
cooperation
microfinancing
projects
reforms
IBRD and Russia.
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Russia joined IBRD in 1992. In the first years of ----------1--------, the majority of loans were connected with structural ------------2------- in the Russian economy. In the last couple of years, IBRD credits have been used to support small businesses, develop ------------3----------- and implement -----------4----------- in health care and social spheres of Russia. Within the period from 1992 to 2010 IBRD provided financing for the ----------5------------- of 14 billion US dollars to Russian projects.
increase
invest
publish
rank
relate
IMF and Russia. Russian quota in IMF has increased to 2,71% (last year it was 2,49%). It ----------6----------- 9th among other member countries. In summer 2012, Russia ----------7------------ quota in IMF by -----------8-------- 300 billion rubles. IMF -----------9---------- reviews and forecasts of Russian economy. Recent IMF’s recommendations -----------10---------- to the improvement of the investment climate, liberalization of foreign trade and conduction of fiscal consolidation and avoidance of overheating.
after
among
in
of
since
IFC and Russia. Russia joined IFC -------11--------- 1993 and ----------12------------- then IFC invested more than 6 billion US dollars in Russian projects. 1,5 billion dollars were allocated -----------13--------- 250 Russian projects in various sectors of the economy in a form of syndicated credits. Today, IFC’s investment portfolio -----------14--------- 2,5 billion US dollars is the third largest ----------15------- Canada and India. In Russia IFC invests in high-tech projects, projects in power industry and in the projects that help to diversify Russian economy. In November 2012 IFC placed bonds worth 23 billion rubles in Russia.
ecological
energy
much
non-governmental
private
EBRD and Russia. EBRD has been supporting Russian ---------16-------- companies for more than 20 years. EBRD has invested ---------17------- than 12 billion US dollars in Russian projects, 83% of that money was used to support -----------18---------- projects. EBRD invests in the projects implemented outside two Russian capitals, Moscow and Saint Petersburg. EBRD’s projects are implemented in 47 Russian regions. The bank’s activity in Russia is aimed at increasing the competitiveness of Russian economy, its diversification, enhancement ---------19----------efficiency and adoption of -----------20----------- standards.
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Task 12 The sentences have been jumbled. Put the sentences in the correct order to make up a text about the role of gold as a reserve currency.
1. About 75% of all the gold, that there is in storage or circulation today has Current estimates suggest that well over 170,000 metric tons of gold have been extracted.
2. For this reason, coupled with its rarity, it is used as the standard against which we measure of the value of money.
3. Gold is defined as a precious metal.
4. IMF gold reserves refer to 3,217 tons of gold held by the International monetary fund.
5. In medieval times, an African Emperor called Mansa Musa travelled on a diplomatic visit to Egypt.
6. It is currently priced at $42 a troy ounce ($1,370 / kg) for accounting purposes.
7. It is one of the basic elements with an atomic number of 79.
8. It is said that he distributed such a large quantity of gold during his stay that Egyptian money was significantly devalued for many years after he left!
9. Its chemical symbol is Au.
10. No single substance on Earth has had such a huge influence on the course of human history and the shaping of society, culture and science as has gold.
11. One of the many reasons why gold is so highly prized is because it is incredibly resistant to corrosion, rust and decay.
12. Only about ten percent of the gold that we have extracted is actually used in manufacture.
13. The rest is carefully stored as it is used as the constant against which the value of the world's financial markets are measured.
14. This price was fixed in 1971 just before the Nixon administration officially delinked the US dollar from gold reserves.
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