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Your homework is this. First, find an English-language news article about Economics (n.b. IMF is a great resource). Then, create a post here on Padlet, linking the article that you found. After that, I want you to find THREE words/phrases/concepts from the article that you didn't know before you read it. Add them to your post with definitions, example sentences, and if possible etymology. Finally,  comment on three different classmates' posts, using one of their new words.

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How Stock Markets Respond to Social Unrest

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How Stock Markets Respond to Social Unrest

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How Stock Markets Respond to Social Unrest – IMF Blog by Philip Barrette and Sophia Chen.

This article from IMF describes how social unrest and riots impact on the stock market of  democratic and authoritarian countries.

1)Disruption(none)-this word has two definitions-first one,the action of preventing something,especially a system,process or event,from continuing as usual or as expected;second one(in business),the action of completely changing the traditional way that an industry or market operates by using new methods or technology.

Examples:

The disruption of the telecoms industry.

Further disruption is expected later tonight when more heavy snow  is expected.

There has been massive disruption on our plants.

Etymology:

This word comes from Medieval Latin word-disruptionem that means a breaking asunder.In XV century it was used in medicine to signify the laceration of tissues.

2)Negligible(adjective)-too slight or small on amount to be of importance.

Examples:

The difference between the two products is negligible.

My knowledge of Spanish is negligible.

Etymology:

This word came from two languages . From Old French(mid-XIV century)negligence that means"negligence, sloth; injury, injustice" and from Latin(XII century)neclegentia, neglegentia that means "carelessness, heedlessness, neglect".

3)Correlate(verb)-if two or more facts,numbers,etc. correlate or are correlated,there is a relationship between them;this word can also be used in business terminology and has same meaning.

Examples:

Stress level and heart disease are strongly correlated.

By Adam Smith the prosperity of the country is correlated with division of labour.

Etymology:

Correlate is a back form of correlation(XVI century) from French corrélation that means mutual relation or from correlate (adj.), from a Medieval Latin adjectival.

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How  the Kyrgyz republic tackled the Pandemic 

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How  the Kyrgyz republic tackled the Pandemic 

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This article describes how with the help of the IMF emergency the Kyrgyz republic tackled the Covid 19 crisis.

1. entrenched(adjective)-(of an attitude, habit, or belief) firmly established and difficult or unlikely to change; ingrained.
example:
This firm is firm will never accept your job application their work community is already entrenched.
Starting with the daily schedule, we can see how deeply entrenched the factory model of schooling is in most places.
etymology: this word comes from mid 16th century (in the sense ‘place within a trench’):
2. preserving(verb)-
• maintain (something) in its original or existing state
• treat (food) to prevent its decomposition.
example:
to preserve the state of these shoes, you should clean them daily
etymology:
this word comes from late Middle English (in the sense ‘keep safe from harm’): from Old French preserver, from late Latin praeservare, from prae- ‘before, in advance’ + servare ‘to keep’.
3.inclusive(adjective)-
• including all the services or items normally expected or required.
•not excluding any of the parties or groups involved in something
example:
This school is opened from Monday to  Saturday inclusive.
etymology:this word comes from late 16th century: from medieval Latin inclusivus, from Latin include
by Ksenia Tkachenko

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How the Kyrgyz Republic Tackled the Pandemic

The Kyrgyz Republic was the first country to receive IMF emergency funding to tackle the COVID-19 crisis. IMF Country Focus spoke with the mission chief, Nikoloz Gigineishvili, about the pandemic's impact on the economy and how the IMF supported the recovery.

How has the pandemic affected the Kyrgyz Republic?
The Kyrgyz Republic has been significantly affected by the COVID-19 pandemic and was one of the hardest-hit countries in the region. The human cost of the lives lost is immeasurable, but the shock to the economy has also been substantial. The pandemic led to the contraction of output by 8.6 percent in 2020, a substantial loss of jobs, and an increase in poverty.

The labor-intensive sectors of the economy were affected the most. Tourism fell by nearly 80 percent. Transportation, trade, and construction were also significantly impacted. On the other hand, agriculture, which is mostly family-operated and does not involve extensive human interaction in closed environments, grew by about 1 percent in 2020.

Inflation increased from 3 percent in 2019 to about 10 percent in 2020, primarily due to the depreciation of the currency and higher imported food prices. Public debt increased by 16 percentage points of GDP to 68 percent in 2020, reflecting lower output, a higher fiscal deficit, and currency depreciation. According to World Bank estimates, poverty increased from 20 percent to 31 percent as incomes declined and unemployment rose.

What were their policy responses to tackling the crisis, and were they effective?
The authorities responded swiftly with a range of measures to protect public health and mitigate the economic impact of the pandemic. These included emergency health spending, stepping up the food security program for the vulnerable, temporary tax deferrals and subsidized loans for small and medium enterprises, and liquidity support to banks. Without these measures, the economic downturn and its impact on poverty would have been much worse.

Unfortunately, the virus is still present, and the risk of the pandemic's resurgence remains. Therefore, securing vaccines as soon as feasible is the highest priority, but the inadequate supply of vaccines and insufficient financing remain significant challenges. Encouragingly, earlier this month the World Bank approved a US$20 million loan to help the Kyrgyz Republic finance the purchase of additional vaccines, and other international organizations are also planning to step up support. Once the health crisis is contained, we expect life to gradually return to normal; firms to begin hiring again, people who are unemployed to return to work, and borders to reopen to allow trade and travel. In this scenario, we project the economy to grow by 3.8 percent in 2021 and 6.4 percent in 2022. However, uncertainty remains high because the pandemic may take an unexpected turn.

How is the IMF supporting their recovery?
The Fund responded to the crisis with unprecedented speed, supporting member countries with financing, policy advice and capacity development. Since the onset of COVID-19, the Fund has provided over US$110 billion in emergency financial assistance to member countries. The Kyrgyz Republic was the first country to benefit from such support, receiving about US$242 million in partially concessional financing, which provided much-needed budgetary resources for the crisis response, including for the procurement of emergency medical supplies. In the interest of transparency and governance safeguards, the authorities committed to publishing audit reports and beneficial ownership information for all COVID-related contracts.

The Fund also advised the authorities on policies during the crisis, the exit strategy to achieve and maintain macroeconomic stability after the crisis, and how to strengthen resilience over the medium term. We have continued to help the Kyrgyz Republic with capacity building as well, focusing on public finance management, monetary policy, banking supervision, and government finance statistics.

What are the top priorities moving forward?
The main challenge is to balance two competing objectives: continue supporting the most vulnerable firms and households until the recovery is entrenched, and strengthening resilience of the economy including by reducing public debt and inflation.

The budget deficit is expected to widen in 2021 to maintain fiscal support to a still fragile economy, but measured and growth-friendly policies to reduce public debt will be essential thereafter.. The Fund recommends reducing public debt to below 60 percent of GDP by 2025. This level of debt would still be higher than the pre-crisis 51.6 percent of GDP, but would provide some fiscal space to respond to future downturns.

Monetary policy should aim to gradually reduce inflation to mid-single digits, while preserving exchange rate flexibility, which has played a critical role in cushioning the shock. Without it, international reserves would have been severely depleted in 2020 and overvaluation of the currency would have increased the risks to financial stability.

In addition to macroeconomic stability, the Kyrgyz Republic needs to support inclusive growth and job creation. This means improving the business environment; strengthening governance and tackling corruption; ensuring a stable supply of electricity by reforming the energy sector, including electricity tariffs; improving access to finance, especially for small and medium-sized enterprises; reducing non-tariff trade barriers; and strengthening labor skills and the quality of education. The sooner these reforms are implemented, the sooner the benefits will be felt by the population.

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How the Kyrgyz Republic Tackled the Pandemic

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The Kyrgyz Republic was the first country to receive IMF emergency funding to tackle the COVID-19 crisis. IMF Country Focus spoke with the mission chief, Nikoloz Gigineishvili, about the pandemic’s impact on the economy and how the IMF supported the recovery.

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COVID-19 Crisis Poses Threat to Financial Stability

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COVID-19 Crisis Poses Threat to Financial Stability

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COVID-19 Crisis Poses Threat to Financial Stability by Tobias Adrian and Fabio Natalucci

The authors of this article expose the impact of the COVID-19 pandemic on the financial situation in the world. Also, there are some predictions concerning the future of the world economy.

For this assignment I have chosen these 3 words:

1. To deteriorate (v) – to become progressively worse.

Etymology: this word comes from late Latin deteriorat - ‘worsened’, from the verb deteriorare, from Latin deterior - ‘worse’.

Examples:

In case your writing skills deteriorate, you will have to get extra classes.

After Hanna’s death, the relationships between Steve and Kate started to deteriorate with record speed.

2.     A sentiment (n) – (1) A view, emotion or opinion that is held or expressed; (2) Exaggerated and self-indulgent feelings of tenderness, sadness, or nostalgia.

Etymology: this word comes from Old French sentement, from medieval Latin sentimentum, from Latin sentire - ‘feel’.

Examples:

(1-st meaning) Villagers share the sentiment that building new leisure facilities would destroy the community spirit.

(2-nd meaning) Your everlasting sentiments will not solve the problem.

3.     To abate (v) – become or make less intense or widespread.

Etymology: this word comes from Old French abatre - ‘to fell’. It also can be disassembled into morphemes: a- (from Latin ad ‘to, at’) + batre - ‘to beat’ (from Latin battere, battuere - ‘to beat’).

Examples:

The demand for oranges in Washington D.C. suddenly abated.

Drinking some juice and watching Friends somehow abated my anxiety.

(The definitions and etymology of the words were taken from Lexico powered by Oxford)

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https://www.cnbc.com/2021/08/17/us-factory-production-rebounds-at-fastest-pace-in-4-months.html
1) Surge pricing
"Surge pricing" occurs when a company raises the price of its offering if there is an increase in demand.

For instance, Uber (a site that connects drivers with people needing a ride) raised some eyebrows when they announced that they would be implementing "surge pricing" on New Year's Eve.
2) to soar
to rise very quickly to a high level:

All night long fireworks soared into the sky.

Temperatures will soar over the weekend, say the weather forecasters.

House prices soared a further 20 percent.
Etymology: late Middle English: shortening of Old French essorer, based on Latin ex- ‘out of’ + aura ‘breeze’.
3) a supply chain
A supply chain is a network between a company and its suppliers to produce and distribute a specific product to the final buyer. This network includes different activities, people, entities, information, and resources. The supply chain also represents the steps it takes to get the product or service from its original state to the customer.

For example

Coca-Cola’s supply chain under pressure due to shortage of cans

The term "supply chain management" was first coined by Keith Oliver in 1982. However, the concept of a supply chain in management was of great importance long before, in the early 20th century, especially with the creation of the assembly line.

Andrei Denisov

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Production at U.S. factories surged in July, boosted by an acceleration in motor vehicle output as automakers either pared or canceled annual retooling shutdowns to work around a global semiconductor shortage.

Manufacturing output jumped 1.4% last month after falling 0.3% in June, the Federal Reserve said on Tuesday.

Economists polled by Reuters had forecast manufacturing production rising 0.6%.

Last month, production at auto plants soared 11.2%. The shortage of semiconductors has forced auto companies to adjust their production schedules. The Fed noted that "a number of vehicle manufacturers trimmed or canceled their typical July shutdowns," when they retool their plants.

Despite the surge, production of motor vehicles and parts in July was about 3.5% below its recent peak in January 2021, the Fed said.

Excluding autos, manufacturing output rose 0.7% in July. Overall manufacturing in July was 0.8% above its pre-pandemic level. Manufacturing, which accounts for 11.9% of the U.S. economy, is being underpinned by strong domestic demand. But that is straining the supply chain, leaving manufacturers struggling with shortages of raw materials and labor.

The situation could be worsened by the resurgence in Covid-19 infections from the Delta variant of the coronavirus.

The increase in manufacturing output and a 1.2% rise in mining combined to boost industrial production by 0.9% last month. Industrial output rose 0.2% in June. Mining was driven by higher oil prices, which are supporting drilling activity. Utilities output fell 2.1%.

Capacity utilization for the manufacturing sector, a measure of how fully firms are using their resources, increased 1.1 percentage points to 76.6% in July. Overall capacity use for the industrial sector rose 0.7 percentage point to 76.1%. It is 3.5 percentage points below its 1972-2020 average.

Officials at the U.S. central bank tend to look at capacity use measures for signals of how much "slack" remains in the economy - how far growth has room to run before it becomes inflationary.

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U.S. manufacturing production accelerates in July, led by autos

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Production at U.S. factories surged in July, boosted by an acceleration in motor vehicle output as automakers either pared or canceled annual retooling shutdowns to work around a global semiconductor shortage. Manufacturing output jumped 1.4% last month after falling 0.3% in June, the Federal Reserve said on Tuesday.

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https://www.imf.org/en/About/Factsheets/IMF-Support-for-Low-Income-Countries

The article I have chosen talks about the IMF's assistance to low-income countries as well as changes in lending instruments. Moreover, the article describes the increase in the volume of funds of low-income countries.

1. To protract (verb)- the word has 3 definitions:

to draw out or lengthen, especially in time; extend the duration of; prolong

In anatomy. to extend or protrude.

(in surveying, mathematics, etc.) to plot and draw (lines) with a scale and a protractor

Etymology: early 16th century (in the sense ‘to waste time’): from Latin protract- ‘prolonged’, from the verb protrahere, from pro- ‘out’ + trahere ‘to draw’.

Examples:

We decided not to protract any more with the solution of a difficult task and dealt with it immediately after lessons.

I played a tennis match for 3 hours and won the victory through protracted struggle.

1. Disbursement (noun)- the word has 2 definitions:

an amount of money given for a particular purpose

the act of paying out money, especially from an amount that has been collected for a particular purpose

Etymology: mid 16th century: from Old French desbourser, from des- (expressing removal) + bourse ‘purse’.

Examples:

In our company, strict control is carried out over working conditions disbursements.

The society was not even in funds to pay its out of pocket disbursements.

1. Cumulative (adjective)- the word has 3 definitions:

increasing or growing by accumulation or successive additions

formed by or resulting from accumulation or the addition of successive parts or elements

of or relating to interest or dividends that, if not paid when due, become a prior claim for payment in the future

Etymology: c.1600, from Latin cumulatus past participle of cumulare "to heap," from cumulus "heap" (from suffixed form of PIE root *keue "to swell") + -ive

Examples:

How much more effective is cumulative selection than other methods?

Then there is the cumulative effect of accidents, small and large.

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Making Affordable Rental Housing Part of Europe’s Recovery

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Making Affordable Rental Housing Part of Europe’s Recovery

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https://blogs.imf.org/2021/05/26/making-affordable-rental-housing-part-of-europes-recovery/ by By Alfred Kammer, Andrea Schachter, and Andreas Tudyka.

This article describes the affordability of rent in European countries after the pandemic and suggests different policies to make rental housing more affordable.

1. Overburdened - having too much to deal with.

Example:
The schools in our town are so overburdened, that we had to move to another town with our child, as there were no places left.

Etymology:
The word comes from mixing “over-“ with “burden”.

2. Jarring - unpleasant, irritating.

Example:
Our trip was a jarring experience, everything was closed because of the coronavirus!

Etymology:
Jarring is a present-participle adjective from jar.

3. Alleviate - to make something bad such as pain less severe

Example:
He is in a such severe pain that only drugs can alleviate his discomfort.

Etymology:
Alleviate comes from Late Latin alleviatus, past participle of alleviare "lift up, raise".

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Mortgage rates hit their highest level in a month, and weekly demand drops

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Mortgage rates hit their highest level in a month, and weekly demand drops

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The article I have chosen tells about the mortgage rates. We can read here about why mortgage rates hit their highest level in a month.

1)Yield- the total amount of crops, profits, etc. that are produced.

Examples:

This will give a yield of 10% on your investment.

This method of cultivation produces higher yield.

Yields are quite poor this year.

Etymology:
The old English word "payment, sum of money; service, offering, worship;" from the source of yield (v.). Extended sense of "production" (as of crops) is first attested mid-15c. Earliest English sense survives in financial "yield from investments."

2)Borrower- a person or an organization that borrows money, especially from a bank.

Examples:

The interest rate was raised for borrowers.

This protects both borrowers and lenders.

Borrowers are provided with a longer repayment term.

Etymology:
From Middle English borrower equivalent to borrow +‎ -er (agent suffix).

3)Revival- (1)an improvement in the condition or strength of something.(2)The process of something becoming or being made popular or fashionable again.(3)A new production of a play that has not been performed for some time.

Examples:

The late 19th century was a time of religious revival.

His work is enjoying a revival in popularity.

The economy has staged something of a revival in the last year.

Etymology:
From revive +‎ -al. First used in a religious sense by Cotton Mather, 1702. Revivalist is first attested 1820.

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Borrowers backed away from the mortgage market last week, as higher interest rates chilled a recent revival in refinances.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($548,250 or less) increased to 3.06% from 2.99%, with points increasing to 0.34 from 0.30 (including the origination fee) for loans with a 20% down payment.

"Mortgage rates followed an overall increase in Treasury yields last week, which started higher from the strong July jobs report before slowing because of weaker consumer sentiment and concerns about rising Covid-19 cases," said Joel Kan, the Mortgage Bankers Association's associate vice president of economic and industry forecasting.

Applications to refinance a home loan, which are highly rate-sensitive, fell 5% last week from the previous week and were 8% lower than a year ago, according to the MBA's seasonally adjusted index. Mortgage rates are very slightly lower than they were last August but not as low as they were last fall, when there was a mini refi boom. As a result, the eligible pool of homeowners who stand to benefit from a refinance is smaller now.

Mortgage applications to purchase a home, which are less sensitive to weekly rate moves, fell 1% for the week and were 19% lower than a year ago. Homebuyers have been pulling back for several weeks now, as affordability weakens and the supply of homes for sale improves only slightly.

"Despite a second-straight weekly decrease, average loan sizes remain close to record highs. This is a continuing sign that sales prices are still elevated, driven by stiff competition leading to accelerating home-price growth," Kan said.

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Mortgage rates hit their highest level in a month, and weekly demand drops

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Borrowers backed away from the mortgage market last week, as higher interest rates chilled a recent revival in refinances. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($548,250 or less) increased to 3.06% from 2.99%, with points increasing to 0.34 from 0.30 (including the origination fee) for loans with a 20% down payment.

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Monetary and Financial Stability During the Coronavirus Outbreak

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Monetary and Financial Stability During the Coronavirus Outbreak

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https://blogs.imf.org/2020/03/11/monetary-and-financial-stability-during-the-coronavirus-outbreak/

1)Volatility-liability to change rapidly and unpredictably, especially for the worse./
Tendency of a substance to evaporate at normal temperatures.
.Examples:
-He understands the volatility of these markets.

-They were scared of his volatility.

-An error in chemical formula calculation can cause disastrous volatility.

Etymology:
1620s, from Middle French (volatile )

2)Prerequisite-a thing that is required as a prior condition for something else to happen or exist./necessary condition for something.
Examples:
-Sponsorship is not a prerequisite for any of our courses

-Democracy is no longer a prerequisite for a healthy economy.

3)Credit crunch-a sudden sharp reduction in the availability of money or credit from banks and other lenders.
Examples:
-He got caught selling cars during the credit crunch of 2008.

-This company has become the latest victim of the credit crunch.

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By Tobias Adrian

The global spread of the coronavirus is a human tragedy unfolding across the world. Quantifying the economic impact is complex, giving rise to significant uncertainty about the economic outlook and the associated downside risks. Such an abrupt rise in uncertainty can put both economic growth and financial stability at risk. In addition to targeted economic policies and fiscal measures, the right monetary and financial stability policies will be vital to help buttress the global economy.
Global cooperation to synchronize monetary policy must be high on the agenda. Higher uncertainty and tighter financial conditions
Measures of economic uncertainty such as equity market volatility increased sharply in countries around the world. Stock markets in major economies, such as the United States, the Euro area, and Japan, all fell sharply and witnessed a surge in implied volatility as skittish investors tried to factor in the latest risks posed by the new virus.

As a result of this sharp increase of uncertainty, credit spreads have widened broadly across markets as investors are reallocating from relatively risky to safer assets. High-yield and emerging-market bonds are hit particularly hard by these reallocations. As a result, the spreads of emerging- and frontier-market bonds denominated in U.S. dollars have widened sharply.

Financial conditions have tightened significantly in recent weeks, which means that companies are facing higher funding costs when they tap equity and bond markets. Such a sudden, sharp tightening in financial conditions acts as a drag on the economy, because firms postpone investment decisions and because individuals delay consumption as they feel less financially secure.
Monetary policy response
The sharp tightening in financial conditions, along with expectations of low inflation, means that monetary policy has a role to play at the current juncture. Central banks can act quickly to help ease the tightening of financial conditions by injecting liquidity and cutting interest rates, thus preventing a possible credit crunch. In fact, markets have been anticipating aggressive easing by central banks, as reflected in the sharp fall in sovereign bond yields in many countries around the world.

Synchronized actions across countries increase the power of monetary policy. Therefore, global cooperation to synchronize monetary policy must be high on the agenda. Ample liquidity within countries, and across borders, is the prerequisite to the successful reversal of the rapid tightening in financial conditions. In these unusual circumstances, if liquidity pressures threaten market functioning, central banks may need to step in and provide emergency liquidity.

If economic and financial conditions were to deteriorate further, policymakers could revert to the broader toolkit that was developed during the financial crisis. For example, the Federal Reserve launched the Term Asset-Backed Securities Loan Facility in 2009, which provided targeted funding. The Bank of England and U.K. Treasury introduced the Funding for Lending Scheme, where a funding subsidy was provided to incentivize the expansion of lending to households, small and mid-sized enterprises and non-financial corporates. Other authorities, too, have deployed variants of such lending schemes that aim at lowering the costs of borrowing in certain sectors.
Financial stability policies
The sharp decline in interest rates, combined with growing anxiety about the economic outlook, have also raised investor concerns about the health of banks. Banks' share prices have fallen sharply, and bond prices of banks have also come under some pressure-likely reflecting fear of potential losses.

The good news is that banks are generally more resilient than before the 2008 financial crisis, because they have greater capital and liquidity cushions. This means the risks to financial stability stemming from the banking sector are much lower, despite declining share prices.

Supervisory authorities should, however, monitor developments at banks very closely. Given the temporary nature of the virus outbreak, banks could consider a temporary restructuring of loan terms for the most-affected borrowers. Supervisors should work closely with banks to ensure that such actions are both transparent and temporary. The goal must be to preserve banks' financial strength and overall transparency across the financial sector.

Authorities should also be alert to possible financial stability threats from outside the banking system. This requires an increased focus on asset managers and exchange-traded funds, where investors might liquidate risky investments suddenly.

Large swings in asset prices can quickly put markets and institutions under pressure. While market functioning has been able to withstand large swings in asset prices so far, anecdotal evidence suggests that liquidity has been tightening in many markets. And there are strains in U.S. dollar funding markets, where non-U.S. banks and corporates borrow in U.S. dollars.

Overall, policymakers must act decisively and cooperate at the global level to preserve monetary and financial stability during this time of extraordinary challenges. The mantra of "hoping for the best, preparing for the worst" has long been successfully deployed. The IMF will act as needed to help its members face this extraordinary, but hopefully temporary, crisis.

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Monetary and Financial Stability During the Coronavirus Outbreak

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This blog is part of a special series on the response to the coronavirus. By Tobias Adrian عربي, 中文, Español, Français, 日本語, Português, Русский The global spread of the coronavirus is a human tragedy unfolding across the world. Quantifying the economic impact is complex, giving rise

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What if suddenly bitcoin fails to zero? This article is a guide to the whole process of bitcoin's failure and all backwashes that would happen from it. (alex yamamoto)

What if suddenly bitcoin fails to zero? This article is an idea of what will happen to the whole process of bitcoin's failure and all consequences that follow.

words:

tame(verb) - to get a control over smt/smb dangerous or powerful.

example: He easily tamed his new horse.

etymology: it comes from Old English temian "subdue, make tame," from Proto-Germanic tamjan.

halt(noun) - when smt stops moving/happening.

example: All factories are in a halt now, due to pandemic restrictions.

etymology: in late 16th century: halten (to hold in german) - haltmachen - "make halt" (to stop).

cede(verb) - to allow someone else to have/own smt, especially unwillingly or because you are forced to.

example: Port Arthur was ceded to Japan after the Russo-Japanese war.

etymology: "to yield, give away" comes in 1630s from French céder or directly from Latin cedere "to go from, proceed,leave".

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This article is about pros and cons of the new digital form of money (cryptoassets). It also describes the desire of some countries to make it their national currency.

Resilience

The word “resilience” has two definitions:

1.The first definition: Resilience is the capacity of people to feel better or to recover after some traumatic or unpleasant experience. (Such as injury or shock)

The example of using: Alicia showed a fantastic resilience and determination while recovering from the consequences of chemotherapy she went through recently.

2. The second definition: Resilience is the ability of some substance or material to return to its original condition or shape after it has been deformed.

The example of using: Rubber, as a material, is known for its resilience which comes very handy during the manufacture.

Etymology: this word came from the Latin word :”resiliō” which means: to spring back or to retreat.

Enhance

Definition: the word “enhance” means to improve or increase the quality, the value or any other characteristic of somebody or something.

Examples of using: The company has successfully enhanced its status by cooperating with respectable partners.

Olivia had to enhance her digital skills to get a job at a prestigious company.

Etymology: this word came from Old French “enhaucier” which means to make greater, make higher or louder.

Incentive

The word “incentive” has two definitions:
1. The first definition: incentive is some force that encourages or motivates somebody to do something.

The example of using: Customers in “Lenta” shop have an incentive to buy some fizzy drinks, as they get free bonuses for them that can be exchanged for some other commodity.

2. The second definition: incentive is a payment or a reduce in the amount of money that one has to pay that encourage somebody to do something

The example of using: the government will pay a special incentive to young parents to encourage them to have children, in order to increase the country’s fertility.

Etymology: this word came from Late Latin “incentivus” which means provocative, exciting, encouraging.

(Polina Yaskina)

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By Tobias Adrian and Rhoda Weeks-Brown

New digital forms of money have the potential to provide cheaper and faster payments, enhance financial inclusion, improve resilience and competition among payment providers, and facilitate cross-border transfers.

But doing so is not straightforward. It requires significant investment as well as difficult policy choices, such as clarifying the role of the public and private sectors in providing and regulating digital forms of money.

Some countries may be tempted by a shortcut: adopting cryptoassets as national currencies. Many are indeed secure, easy to access, and cheap to transact. We believe, however, that in most cases risks and costs outweigh potential benefits.

Cryptoassets are privately issued tokens based on cryptographic techniques and denominated in their own unit of account. Their value can be extremely volatile. Bitcoin, for instance, reached a peak of $65,000 in April and crashed to less than half that value two months later.

And yet, Bitcoin lives on. For some, it is an opportunity to transact anonymously-for good or bad. For others, it is a means to diversify portfolios and hold a speculative asset that can bring riches but also significant losses.

Cryptoassets are thus fundamentally different from other kinds of digital money. Central banks, for instance, are considering issuing digital currencies-digital money issued in the form of a liability of the central bank. Private companies are also pushing the frontier, with money that can be sent over mobile phones, popular in East Africa and China, and with stablecoins, whose value depends on the safety and liquidity of backing assets.
Cryptoassets as legal tender?
Bitcoin and its peers have mostly remained on the fringes of finance and payments, yet some countries are actively considering granting cryptoassets legal tender status, and even making these a second (or potentially only) national currency.

If a cryptoasset were granted legal tender status, it would have to be accepted by creditors in payment of monetary obligations, including taxes, similar to notes and coins (currency) issued by the central bank.
Countries can even go further by passing laws to encourage the use of cryptoassets as a national currency, that is, as an official monetary unit (in which monetary obligations can be expressed), and a mandatory means of payment for everyday purchases.

Cryptoassets are unlikely to catch on in countries with stable inflation and exchange rates, and credible institutions. Households and businesses would have very little incentive to price or save in a parallel cryptoasset such as Bitcoin, even if it were given legal tender or currency status. Their value is just too volatile and unrelated to the real economy.

Even in relatively less stable economies, the use of a globally recognized reserve currency such as the dollar or euro would likely be more alluring than adopting a cryptoasset.

A cryptoasset might catch on as a vehicle for unbanked people to make payments, but not to store value. It would be immediately exchanged into real currency upon receipt.

Then again, real currency may not always be readily available, nor easily transferable. Moreover, in some countries, laws forbid or restrict payments in other forms of money. These could tip the balance towards widespread use of cryptoassets.
Proceed with caution
The most direct cost of widespread adoption of a cryptoasset such as Bitcoin is to macroeconomic stability. If goods and services were priced in both a real currency and a cryptoasset, households and businesses would spend significant time and resources choosing which money to hold as opposed to engaging in productive activities. Similarly, government revenues would be exposed to exchange rate risk if taxes were quoted in advance in a cryptoasset while expenditures remained mostly in the local currency, or vice versa.

Also, monetary policy would lose bite. Central banks cannot set interest rates on a foreign currency. Usually, when a country adopts a foreign currency as its own, it "imports" the credibility of the foreign monetary policy and hope to bring its economy-and interest rates-in line with the foreign business cycle. Neither of these is possible in the case of widespread cryptoasset adoption.

As a result, domestic prices could become highly unstable. Even if all prices were quoted in, say, Bitcoin, the prices of imported goods and services would still fluctuate massively, following the whims of market valuations.

Financial integrity could also suffer. Without robust anti-money laundering and combating the financing of terrorism measures, cryptoassets can be used to launder ill-gotten money, fund terrorism, and evade taxes. This could pose risks to a country's financial system, fiscal balance, and relationships with foreign countries and correspondent banks.

The Financial Action Task Force has set a standard for how virtual assets and related service providers should be regulated to limit financial integrity risks. But enforcement of that standard is not yet consistent across countries, which can be problematic given the potential for cross-border activities.

Further legal issues arise. Legal tender status requires that a means of payment be widely accessible. However, internet access and technology needed to transfer cryptoassets remains scarce in many countries, raising issues about fairness and financial inclusion. Moreover, the official monetary unit must be sufficiently stable in value to facilitate its use for medium- to long-term monetary obligations. And changes to a country's legal tender status and monetary unit typically require complex and widespread changes to monetary law to avoid creating a disjointed legal system.

In addition, banks and other financial institutions could be exposed to the massive fluctuations in cryptoasset prices. It is not clear whether prudential regulation against exposures to foreign currency or risky assets in banks could be upheld if Bitcoin, for instance, were given legal tender status.

Moreover, widespread cryptoasset use would undermine consumer protection. Households and businesses could lose wealth through large swings in value, fraud, or cyber-attacks. While the technology underlying cryptoassets has proven extremely robust, technical glitches could occur. In the case of Bitcoin, recourse is difficult as there is no legal issuer.

Finally, mined cryptoassets such as Bitcoin require an enormous amount of electricity to power the computer networks that verify transactions. The ecological implications of adopting these cryptoassets as a national currency could be dire.
Striking a balance
As national currency, cryptoassets-including Bitcoin-come with substantial risks to macro-financial stability, financial integrity, consumer protection, and the environment. The advantages of their underlying technologies, including the potential for cheaper and more inclusive financial services, should not be overlooked. Governments, however, need to step up to provide these services, and leverage new digital forms of money while preserving stability, efficiency, equality, and environmental sustainability. Attempting to make cryptoassets a national currency is an inadvisable shortcut.

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Cryptoassets as National Currency? A Step Too Far

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By Tobias Adrian and Rhoda Weeks-Brown عربي, 中文, Español, Français, 日本語, Português, Русский New digital forms of money have the potential to provide cheaper and faster payments, enhance financial inclusion, improve resilience and competition among payment providers, and facilitate cross-border transfers. But doing so is not straightforward.

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Stepping Up to Meet Low-Income Countries’ Pandemic Recovery Needs

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Stepping Up to Meet Low-Income Countries’ Pandemic Recovery Needs

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https://blogs.imf.org/2021/07/26/stepping-up-to-meet-low-income-countries-pandemic-recovery-needs/

1. retention - the continued act of possessing, controlling or holding onto something.

The dam retained the river within its borders.

Etymology: the word came about in the late 14th century. It comes from Latin re - “back” and tenere - “to hold”.

2. unprecedented - something that has never been done, known or experienced before.

When Covid began there was an unprecedented demand for food supplies all over the world.

Etymology: un + precedent + ed

3. concession - the act of accepting something as true, giving in to something or granting something a right.

The restaurant offered the pair a free meal as a concession for ruining their clothes.

Etymology: from Latin concessionem, from late Middle English, from Middle French.

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How the Pandemic Widened Global Current Account Balances

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How the Pandemic Widened Global Current Account Balances

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https://blogs.imf.org/2021/08/02/how-the-pandemic-widened-global-current-account-balances/

The article I have red describes how the COVID-19 pandemic affected global current accounts. The authors of it give a list of reasons for such a significant changes in the accounts of different countries' economies. There are also some predictions and solutions related to the problem.

3 words I have chosen:
1) surplus (n)
The first definition: an amount that is extra or more than you need
Example sentences:
- Wheat was in surplus that year.
- Africa has a surplus of agricultural labor and too few other jobs
The second one: the amount by which the amount of money received is greater than the amount of money spent
Examples of using:
- The balance of payments was in surplus last year
- The reported financial statements surplus was $14.7 million.
Word origin:
late Middle English: from Old French sourplus, from medieval Latin superplus, from super-‘in addition’ + plus ‘more’.

2) decline (n) - ​a continuous decrease in the number, value, quality, etc. of something
Example sentences:
- There has been a 5% decline in employee numbers.
- There has been the decline of seabird populations in last 5 years.
- They have experienced decades of economic decline.

3) adjustment (n)
The first definition: a small change made to something in order to correct or improve it
Example sentences:
- My director made a few adjustments to the design.
- Some adjustment of the glasses may be necessary.
The second definition: a change in the way a person behaves or thinks
Exemple sentences:
- The process of adjustment to life in another country can be very difficult.
- There was a long period of adjustment under the new boss.

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By Martin Kaufman and Daniel Leigh

2020 was a year of extremes. Travel all but ceased for a period. Oil prices wildly fluctuated. Trade in medical products reached new heights. Household spending shifted to consumer goods rather than services and savings ballooned as people stayed home amid a global shutdown.
If not for the crisis, global current account balances would have continued to decline.
Exceptional policy support prevented a global economic depression, even as the pandemic took a heavy toll on lives and livelihoods. The global reaction, as seen in major shifts in travel, consumption, and trade, also made the world a more economically imbalanced place as reflected in current account balances-a record of a country's transactions with the rest of the world.

In our latest External Sector Report we found that the global reaction to the pandemic further widened global current account balances-the sum of absolute deficits and surpluses among all countries-from 2.8 percent of world GDP in 2019 to 3.2 percent of GDP in 2020. Those balances are set to widen further as the pandemic continues to rage in much of the world.

If not for the crisis, global current account balances would have continued to decline. While external deficits and surpluses are not necessarily a cause for concern, excessive imbalances-larger than warranted by the economy's fundamentals and appropriate economic policies-can have destabilizing effects on economies by fueling trade tensions and increasing the likelihood of disruptive asset price adjustments.
A year like no other
The dramatic fluctuations in current account deficits and surpluses in 2020 were driven by four major pandemic-fueled trends:

Travel declined: The pandemic led to a sharp decrease in tourism and travel. This had a significant negative impact on the account balances of countries that rely on tourism revenue, such as Spain, Thailand, Turkey, and even larger consequences for smaller tourism-dependent economies.

Oil demand collapsed: The collapse in oil demand and energy prices was relatively short lived, with oil prices recovering in the second half of 2020. However, oil-exporting economies, such as Saudi Arabia and Russia, saw current account balances decline sharply in 2020. Oil-importing countries saw corresponding increases to their oil trade balances.

Medical products trade boomed: Demand surged by about 30 percent for medical supplies critical for fighting the pandemic, such as personal protective equipment, as well as the inputs and materials to make them, with implications for importers and exporters of these items.

Household consumption shifted: As people were forced to stay home, households shifted their consumption away from services toward consumer goods. This happened most in advanced economies where there was an increase in the purchase of durable goods like electrical appliances used to accommodate teleworking and virtual learning.

All of these factors contributed to some countries seeing a wider current account deficit, meaning they bought more than they sold, or a larger current account surplus, meaning they sold more than they bought. Favorable global financial conditions, with the unprecedented monetary policy support from major central banks, made it easier for countries to finance wider current account deficits. In contrast, during past crises where financial conditions sharply tightened, running current account deficits was harder, pushing countries further into recession.

On top of these external factors, the pandemic led to massive government borrowing to finance health care and provide economic support to households and firms, creating large uneven effects on trade balances.
The outlook
Global current account balances are set to widen even further in 2021 but this trend is not expected to last. The latest IMF staff forecasts indicate that global current account balances will narrow in the coming years, as China's surplus and the US' deficit falls, reaching 2.5 percent of world GDP by 2026.

A reduction in balances could be delayed if large deficit economies like the US undertake additional fiscal expansions or there is a faster-than-expected fiscal adjustment in current account surplus countries, like Germany. A resurgence of the pandemic and a tightening of global financial conditions that disrupt the flow of capital to emerging markets and developing economies could also affect balances.

Despite the shock of the crisis and possibly due to its worldwide impact, excessive current account deficits and surpluses were broadly unchanged in 2020, representing about 1.2 percent of world GDP. Most of the drivers of excess external imbalances pre-date the pandemic and include fiscal imbalances as well as structural and competitiveness distortions.
Rebalancing the world economy
Ending the pandemic for everyone in the world is the only way to ensure a global economic recovery that prevents further divergence. This will require a global effort to help countries secure financing for vaccinations and maintain healthcare.

A synchronized global investment push or a synchronized health spending push to end the pandemic and support the recovery could have large effects on world growth without raising global balances.

Governments should step up efforts to resolve trade and technology tensions and modernize international taxation. A top priority should be the phasing out of tariff and non-tariff barriers, especially on medical products.

Countries with excess current account deficits should, where appropriate, seek to reduce budget deficits over the medium term and make competitiveness-raising reforms, including in education and innovation policies. In economies with excess current account surpluses and remaining fiscal space, policies should support the recovery and medium-term growth, including through greater public investment.

In the years to come, countries will need to simultaneously rebalance, while ensuring that the recovery is built on a solid and durable foundation.

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How the Pandemic Widened Global Current Account Balances

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By Martin Kaufman and Daniel Leigh عربي, 中文, Español, Français, 日本語, Português, Русский 2020 was a year of extremes. Travel all but ceased for a period. Oil prices wildly fluctuated. Trade in medical products reached new heights. Household spending shifted to consumer goods rather than services and

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https://www.marketwatch.com/story/u-s-adds-just-235-000-jobs-in-august-as-delta-dents-hiring-11630672922

To wean (v.)

1. to accustom (a young child or animal) to take food otherwise than by nursing
2. to detach from a source of dependence
3. to accustom to something from an early age (used in passive)

Examples:

The doctor is trying to wean his patient from the painkillers she has been taking for months.

Alice was weaned on healthy food by her parents since an early age.

Lackluster (adj.) - lacking brilliance or radiance

Examples:

Jane realized that her last performance on stage was lackluster.

Lackluster eyes can be a sign that a person is going through a tough period of life.

Etymology:

Lackluster is a combination of the words “lack” and “luster”. The word luster came to English from French where it had the same meaning “gloss, radiance”.

To lure (v.) - to persuade someone to do something or go somewhere by offering them something exciting

Examples:

A kidnapper has lured a little girl into his car by offering her a variety of sweets.

Mass market brands try to lure customers with low prices.

Etymology:

Originally the word “lure” meant a bunch of feathers arranged so as to resemble a bird, on a long cord, from which the hawk was fed during its training. The word was later used to describe all means of baiting animals (especially fish).

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Global Policy Responses to Capital Flow Volatility

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Global Policy Responses to Capital Flow Volatility

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Global Policy Responses to Capital Flow Volatility by Annamaria De Crescenzio, Annamaria Kokenyne, Dennis Reinhart, and Julia Schmidt.

The article I have chosen talks about how to manage the risks that stem from capital flows and maximize benefits during The COVID-19 health and economic crisis.

1. Mitigating - having the effect of making something bad less severe, serious, or painful. Lessening the gravity of an offence or mistake.

Examples:
1) "it should have a mitigating effect on the frequency of minor flooding events"
2) "he would have faced a prison sentence but for mitigating circumstances"

Etymology: this word comes from late Middle English: from Latin mitigat- ‘softened, alleviated’, from the verb mitigare, from mitis ‘mild’

2. Volatility - liability to change rapidly and unpredictably, especially for the worse (first definition). Tendency of a substance to evaporate at normal temperatures (second definition).

Examples:
1) "the succession of new rulers contributed to the volatility of the situation"
2) "the volatility of chemicals in an indoor environment"

Etymology: this word comes from Middle English (in the sense ‘creature that flies’, also, as a collective, ‘birds’): from Old French volatil or Latin volatilis, from volare ‘to fly’.

3. Cushioned - covered by soft padding that provides comfortable support, especially for sitting or leaning on.

Cushion - soften the effect of an impact on (first definition). Mitigate the adverse effects of (second definition).

Examples:
1) "she is sitting on a cushioned stool"
2) "the bag cushions equipment from inevitable knocks"
3) "to cushion the blow, wages and pensions were increased"

Etymology: this word comes from Middle English: from Old French cuissin, based on a Latin word meaning ‘cushion for the hip’, from coxa‘hip, thigh’. The Romans also had a word cubital ‘elbow cushion’, from cubitus ‘elbow’.

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How quilting a job can be a political act. Pimenov Ivan

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How quilting a job can be a political act. Pimenov Ivan

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https://qz.com/work/2052826/quitting-your-job-is-now-a-political-act/?utm_source=YPL

This article is about people who blackmail employers with a threat of quitting a job.

Spur

To encourage or to speed up an activity

Examples

Tim Cook spurred the development of the augmented reality glasses

Nord Stream 2 was spurred by Gazprom to to increase profits and improve political relations with Europe

Etymology

This word came from Old English spora, spura, of Germanic origin; related to Dutch spoor and German Sporn, also to spurn.

Prominent

Important; significant

Convex

Examples:

He is a  prominent member of a court.

Usage of green energy should be more prominent

Etymology:

This word’s roots returns to 15th century to Latin prominentem, which meant projecting, jutting out

Contemplation

spending time thinking about future actions.

Examples:

Many traders contemplate about shorting American indexes.

Jerome Powell is contemplating about reversing Fed stimulus

Etymology:

This word’s roots returns to 13th century and the word contemplacioun, "religious musing," from Old French contemplation and directly from Latin contemplationem (nominative contemplatio) "act of looking at," noun of action from past-participle stem of contemplari "

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The article that I have chosen describes what prospects do companies have after COVID pandemic. All in all, authors attitude is positive. He mentions that new reforms should encourage new generations to make economy of their country better in future.

Get jabbed - to get vaccinated (meaning in the text), also it means to give a shot. The third meaning is  to push or hit somebody forcefully and quickly with a thin or a sharp

Examples:

1. People are getting jabbed to reduce the morbidity

2. When I got my vaccine, I was jabbed in the arm

3. The doctor jabbed the needle into the dog's leg

Seize - take smith with force or quickly, to use the opportunity to do something

1. All students should seize the opportunity to go to university

2. I seized his arm and made him turn to look at me

Etymology:

This word came from mid-13c., from Old French «seisir» which meant "to take possession of, take by force; put in possession of, bestow upon" (Modern French saisir).

Resolve - to solve a problem, to make a decision, to let smb to do smth

1. Economic development play a key role in resolving the problems with poverty in many countries

2. Post-COVID economic reforms should help to resolve resolve weak companies expeditiously

3. She resolved that she would never speak to him again

Etymology:

Came from old french «resolven». The meaning of this word was to separate into components parts, to reduce liquid. Nearly in 17 century the meaning of this world changed and was more like decide/settle

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By Geoffrey Okamoto

Since March 2020, governments have spent $16 trillion providing fiscal support amid the pandemic, and global central banks have increased their balance sheets by a combined $7.5 trillion. Deficits are the highest they have been since World War II and central banks have provided more liquidity in the past year than in the past 10 years combined. This was absolutely necessary - IMF research indicates that if policymakers had not acted, last year's recession, which was the worst peacetime recession since the Great Depression, would have been three times worse.

That's where we've come from, but where are we headed? In the year ahead, as more vaccines roll off the production line, more people get jabbed, and more economies gradually reopen, policymakers need to engineer a fundamental shift from saving their economies from collapse, to strengthening their economies for the future with growth-oriented reforms.

We know that some pro-growth reforms were deferred, if not reversed, and some economic scarring has occurred. The world lost $15 trillion in output as a result of COVID-19, relative to what the IMF expected in January 2020. The same energy that is being put into vaccination and plans for recovery spending also needs to be put into growth measures to make up for this lost output.

Enhanced debt restructuring mechanisms should help resolve unviable firms expeditiously and channel investment to new ideas and companies. Stronger active labor market policies , including job-search monitoring and support, and retraining should help workers shift to more promising jobs in dynamic parts of the economy. Improved competition policy frameworks -actively debated right now in Europe and the United States-and reductions in barriers to entry in sclerotic sectors should ensure that we don't have moats around the firms that captured the policymakers of yesteryear.
Toward a brighter future
Using this moment for some of these difficult reforms means that the monetary and fiscal stimulus still flowing will serve as a springboard to a brighter and more sustainable future rather than a crutch to a weaker version of the pre-COVID-19 economy. Seizing the opportunity could deliver years of solid post-COVID-19 growth and progress in living standards. The IMF estimates that comprehensive growth-enhancing reforms cutting across product, labor, and financial markets could raise annual growth in GDP per capita by over one percentage point in emerging market and developing economies in the next decade. These countries would be able to double their speed of convergence to advanced economies' living standards relative to the pre-pandemic years.

For advanced economies, a growth-reform tailwind would help repay the debts incurred to provide unprecedented support, increasing the space for critical investment and reducing the need to raise taxes. With inflation running higher than forecasted and the lack of certainty about when its drivers will abate, growth reforms that target the supply-side provide insurance against any persistent inflationary risks from demand-side pressures in the United States and elsewhere.

For emerging market countries that have been able to maintain access to global capital markets, reforms can strengthen fundamentals and bolster investor confidence even as financial conditions tighten, especially if inflation persists in advanced economies. For low-income countries who have depleted their policy space, the returns on growth-oriented reforms can be high enough to avoid harsh fiscal austerity, allowing them to protect social and health spending in the short-run while boosting their capacity to invest in their people in the long-run.

It doesn't all have to be done at once. Recovery from this crisis will take years for most countries. Inspiring the next generation to rebuild a brighter future is the primary challenge for this generation of policymakers. They should seize this challenge, daring to be bold as the current crisis reaches a crossroads. Pairing growth reforms with recovery spending will deliver the prosperity that we have promised our citizens, making our own fate in a post-COVID-19 world.

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Seizing the Opportunity for a Pro-Growth, Post-Pandemic World

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By Geoffrey Okamoto عربي, 中文, Español, Français, 日本語, Português, Русский Since March 2020, governments have spent $16 trillion providing fiscal support amid the pandemic, and global central banks have increased their balance sheets by a combined $7.5 trillion. Deficits are the highest they have been since World War II