World Bank’s Action on Inflation

1. The World Bank highlighted that Russia must control inflation and allow for appreciation of the ruble if it wishes to see its robust economic performance stay on course. Recent curbs imposed on staple goods would do little to reverse inflation and could lead to price distortions. The surge in capital inflows not being absorbed by the Stabilization Fund is driving money expansion and exerting pressure on the ruble. The strong ruble has in its turn been driving up labor costs. It is suggested that wages will be growing more rapidly than productivity.

2. GDP growth has been dented by appreciation of the ruble, making exports more expensive abroad and imports less expensive to domestic consumers. Any economic policy decision involves a tradeoff, and the missing link between inflation and export competitiveness of Russia’s industrial growth is high productivity. Another challenge highlighted by the World Bank was the shrinking and rapidly aging population. By 2025, the population will drop by 12 percent, and one in five people will be aged over 65. The situation in Russia is of particular concern because of the twin factors of a low birth-rate and high mortality.

3. Salary increases in the country don’t meet up with the requirements of aging population because there is a big gap between the wages of young specialists and those who toiled their way to retirement. However Russia earned praise for maintaining an economic policy that allowed the country to weather the global liquidity and credit crunch crises. Besides Russia’s capital inflow into the economy has increased considerably.

( From ‘ The Moscow Times’, 2008, July )

VII. Определите, являются ли приведенные ниже утверждения (1, 2, 3)

а) истинными (true)

б) ложными (false)

в) в тексте нет информации (no information)

1) The World Bank highlighted that Russia must control inflation.

2) Soon there will be no inflation in Russia.

3) There was only one challenge highlighted by the World Bank.

VIII. Прочитайте абзац 3 и ответьте письменно на следующий вопрос:

What did allow Russia to weather the global liquidity and credit crunch crisis?

Задание №4

I. Переведите письменно существительные (1-10). Выберите определения

(a – j), соответствующие существительным:

II. В следующих предложениях подчеркните определения, выраженные именем существительным, и переведите эти предложения на казахский/ русский язык.

1) There are several ways to measure how developed a country is: life expectancy, education level and real income of the population.

2) Even in the freest economies, like the USA, there is some government control.

3) The interest rate is determined by the levels of supply and demand in the money market.

III. a) В следующих предложениях подчеркните глагол-сказуемое, определите его видовременную форму и залог. Переведите предложения на казахский/ русский язык.

1) Russia has played a historic role in providing energy to Europe and the world.

2) Interest rates and taxes were raised.

3) Retired employees often get a company pension.

IV. В следующих предложениях подчеркните модальный глагол или его эквивалент. Переведите предложения на казахский/ русский язык.

1) In the market economy companies have to compete with each other for a share of the market.

2) Taxpayers should clearly understand how the tax is calculated, how much they have to pay and when.

3) Many millions of people have a quality of life today that previous generations could not dream of.

V. В следующих предложениях подчеркните Participle 1 и Participle 2 и укажите, является ли оно определением, обстоятельством или частью глагола-сказуемого. Переведите предложения на казахский/ русский язык.

1) Mostly with money earned from energy exports, Russia began to pay off its foreign debts.

2) Governments may also restrict the amount of imports entering the country.

3) Auctions opened are becoming very popular, for example, on the Internet.

VI. Прочитайте и устно переведите на казахский/ русский язык весь текст. Перепишите и письменно переведите абзацы 1, 3.

Lloyd’s of London

1. Lloyd’s, the biggest insurance business in the UK and in the world, is not a company, but an association of London underwriters. It was incorporated in 1871 and it is so called from Edward Lloyd. Edward Lloyd was the owner of a coffee house where underwriters at that time met to do business. Today more than 20, 000 members of Lloyd’s in 80 countries work for Lloyd’s. Underwriting members or underwriters are grouped into 280 syndicates. The syndicates vary in size from the relatively small units to several thousand individuals.

2. Insurance is usually undertaken through Lloyd’s brokers rather than directly with Lloyd’s underwriting members. Lloyd’s brokers know better what syndicate to approach and how to negotiate the business. They act, like other brokers, and negotiate on behalf of their customers. They do not bear any risks, since only underwriting members bear all the risks with unlimited liability. One of the main principles of insurance with Lloyd’s is the spreading of risk as widely as possible among syndicates to minimize their losses.

3. Lloyd’s is best known as a centre of marine insurance, but at the same time all kinds of insurance are practiced there. In fact, at the present day marine insurance comprises less than half the total business undertaken. Almost anything can be insured there as well: aircraft, communication satellites, civil engineering projects, livestock and so on. Besides they do some business in travels, publishing and land. Lloyd’s motto is “Confidence in the future”.

VII. Определите, являются ли приведенные ниже утверждения (1, 2, 3)

а) истинными (true)

б) ложными (false)

в) в тексте нет информации (no information)

1) Edward Lloyd was the proprietor of a coffee house where at that time insurers met to do business.

2) Only brokers bear all the risks with unlimited liability.

3) Lloyd’s provided free insurance against loss or damage.

VIII. Прочитайте абзац 2 и ответьте письменно на следующий вопрос:

How do Lloyd’s brokers act?

1) underwriter - страховщик (часто морской, член ассоциации страховщиков «Ллойдc»)

2) syndicate - синдикат (вид монополистического объединения предпринимателей в целях ограничения конкуренции, повышения цен и увеличения прибыли)

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