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“信贷危机”如病毒般向全球扩散

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The Credit Crisis Spreads to Banks Around the World迅雷专用高速下载 This is the VOA Special English Economics
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The Credit Crisis Spreads to Banks Around the World


迅雷专用高速下载

This is the VOA Special English Economics Report.

This week, economic worries turned from inflation. On Wednesday, central banks in nations around the world acted together to lower interest rates. The fear is that a lack of credit and falling demand could cause a deep, worldwide recession.

The International Monetary Fund (国际货币基金组织)has warned that the world is facing its most dangerous economic crisis since the nineteen thirties.

国际货币基金组织简介:

国际货币基金组织 (International Monetary Fund -- IMF) 是政府间国际金融组织。1945年12月27日正式成立。1947年3月1日开始工作,1947年11月15日成为联合国的专门机构,在经营上有其独立性。总部设在华盛顿。该组织宗旨是通过一个常设机构来促进国际货币合作,为国际货币问题的磋商和协作提供方法;通过国际贸易的扩大和平衡发展,把促进和保持成员国的就业、生产资源的发展、实际收入的高水平,作为经济政策的首要目标;稳定国际汇率,在成员国之间保持有秩序的汇价安排,避免竞争性的汇价贬值;协助成员国建立经常性交易的多边支付制度,消除妨碍世界贸易的外汇管制;在有适当保证的条件下,基金组织向成员国临时提供普通资金,使其有信心利用此机会纠正国际收支的失调,而不采取危害本国或国际繁荣的措施;按照以上目的,缩短成员国国际收支不平衡的时间,减轻不平衡的程度等

To fight slowing economic growth, the United States Federal Reserve cut its federal funds rate to one and one half percent. That is the rate banks charge each other for overnight loans. The European Central Bank also announced an interest rate cut. So did central banks in Britain, Canada, Sweden and Switzerland. Australia and China also cut interest rates.

The action marked the first time that the Federal Reserve has joined with other central banks to cut interest rates.

Tuesday, the Fed said it will make short-term loans by purchasing what is called commercial paper. Such loans usually come from pools, or collections, of investment money. The goal is to provide financial help to all companies that need short-term loans to operate. Earlier, the central bank announced loans to banks of up to nine hundred billion dollars.

European countries are also taking steps to deal with the crisis. The Economist magazine reports that European banks have borrowed more against their bank deposits than American banks have. This puts them at greater risk when there are low levels of activity in credit markets.

Iceland is an example. Its banks borrowed many times the amount of money they held in deposits. In recent weeks, Iceland has had to seize three major banks. The nation has asked for a loan of more than five billion dollars from Russia to avoid a collapse of its financial system.

Other countries have taken steps to keep people from withdrawing money from banks. Ireland, Germany and Britain increased the limit of bank deposits guaranteed by their governments.

And, the British government has announced a rescue plan similar to the one passed by the United States Congress. Britain will make eighty-seven billion dollars available to eight major banks. It will also provide hundreds of billions of dollars in loans and guarantees to the banking system.

And, that is the VOA Special English ECONOMICS REPORT, written by Mario Ritter. I'm Steve Ember.

 

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