US Aid to Turkey Boosts Istanbul Markets

Broadcast: Mar¹ 27,2003

 

The Bush administration's decision to include about one billion dollars in aid to Turkey as part of its Iraq war budget has boosted investor² confidence, ¹⁾perking up financial markets in Istanbul.

The administration request steadied financial markets that had grown increasingly worried that Turkey would ²⁾default on its huge foreign debt. Share prices in Istanbul climbed two and a half percent while the Turkish currency, the lira, gained one percent.

Economists⁴ in Istanbul tell Bloomberg news that, if the grant is approved by Congress, it would close the government's financing gap and boost badly shaken investor confidence.

Ankara's credibility has been damaged by perceptions that it mismanaged negotiations⁵ with Washington in which the Americans offered much more generous aid in return for the use of Turkish bases in the war with Iraq. The failed negotiations led the Americans to abandon plans for a second front in northern Iraq, and anti-Turkey sentiment is running high in Washington. Some analysts⁶ say the Turkish aid request may not be approved.

The United States has long been Turkey's principal advocate with the International Monetary⁷ Fund (IMF) and it has championed the cause of Turkish membership in the European Union. The IMF has a big lending program with Turkey, but it has been holding off on providing more money until the new government that came to power last November makes good on its promise of fiscal⁸ restraint.

Turkey wants compensation for revenue lost from the disruption of normal business relations with Iraq. The Americans and Europeans are insisting that the Turks not send troops into northern Iraq, a move that would ³⁾inflame ethnic⁹ tensions in Iraqi Kurdistan.

Barry Wood VOA news, Washington.

1)    perk³ up (重新)活跃起来, 振作精神

2)    default on 拖欠，违约

3)    inflame[in5fleim]v.燃烧

1 mar   

vt.破坏，毁坏，弄糟

参考例句：

• It was not the custom for elderly people to mar the picnics with their presence.大人们照例不参加这样的野餐以免扫兴。
• Such a marriage might mar your career.这样的婚姻说不定会毁了你的一生。

2 investor   

n.投资者，投资人

参考例句：

• My nephew is a cautious investor.我侄子是个小心谨慎的投资者。
• The investor believes that his investment will pay off handsomely soon.这个投资者相信他的投资不久会有相当大的收益。

3 perk   

n.额外津贴；赏钱；小费；

参考例句：

• His perks include a car provided by the firm.他的额外津贴包括公司提供的一辆汽车。
• And the money is,of course,a perk.当然钱是额外津贴。

4 economists   

n.经济学家，经济专家( economist的名词复数 )

参考例句：

• The sudden rise in share prices has confounded economists. 股价的突然上涨使经济学家大惑不解。
• Foreign bankers and economists cautiously welcomed the minister's initiative. 外国银行家和经济学家对部长的倡议反应谨慎。 来自《简明英汉词典》

5 negotiations   

协商( negotiation的名词复数 )； 谈判； 完成（难事）； 通过

参考例句：

• negotiations for a durable peace 为持久和平而进行的谈判
• Negotiations have failed to establish any middle ground. 谈判未能达成任何妥协。

6 analysts   

分析家，化验员( analyst的名词复数 )

参考例句：

• City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
• I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。

7 monetary   

adj.货币的，钱的；通货的；金融的；财政的

参考例句：

• The monetary system of some countries used to be based on gold.过去有些国家的货币制度是金本位制的。
• Education in the wilderness is not a matter of monetary means.荒凉地区的教育不是钱财问题。

8 fiscal   

adj.财政的，会计的，国库的，国库岁入的

参考例句：

• The increase of taxation is an important fiscal policy.增税是一项重要的财政政策。
• The government has two basic strategies of fiscal policy available.政府有两个可行的财政政策基本战略。

9 ethnic   

adj.人种的，种族的，异教徒的

参考例句：

• This music would sound more ethnic if you played it in steel drums.如果你用钢鼓演奏，这首乐曲将更具民族特色。
• The plan is likely only to aggravate ethnic frictions.这一方案很有可能只会加剧种族冲突。