VOA常速英语2007-Zoellick Confident World Bank Getting Back on Tr

By Barry Wood
Washington
22 October 2007

World Bank President Robert Zoellick says that, three months into the job, he is confident that the lender organization is getting back on track following the turmoil¹ that led to the resignation of his predecessor². VOA's Barry Wood reports.

Zoellick told the bank's policy-making committee of 24 finance ministers from advanced and developing economies that the private sector³ should have a bigger role in helping⁴ the poor.

Zoellick said he would like the bank to work with commercial banks to develop capital markets in developing countries, as a means of encouraging foreign direct investment.

Zoellick said it is time for a fresh look at the bank's strategic direction.

"I believe the way to get an institution back on track is to focus on its mission and give people as much energy and drive and a sense of what can be accomplished," said Robert Zoellick. "People I've met at the bank have come to the bank because they want to accomplish something for development and overcoming poverty, and, frankly⁵, there's a lot of ideas and a lot of energy."

Zoellick replaced Paul Wolfowitz, who resigned only two years into his presidency⁶ amid mounting staff dissatisfaction with his leadership. The World Bank is the world's biggest multi-lateral lender, this year providing over $25 billion to more than 50 poor countries.

While finance ministers were meeting at the World Bank, only a short distance away, leaders of major financial institutions were discussing the recent volatility⁷ in world credit markets, particularly in the U.S.

The head of Germany's Deutsche Bank said American lenders had been irresponsible in approving loans to borrowers with bad credit records. Retired⁸ U.S. central bank president Alan Greenspan described the August and September credit squeeze, in which markets failed to function properly, as an accident waiting to happen.

"Something had to give," Greenspan said.  "If the crisis had not been triggered by a mispricing of US securitized sub-prime mortgages, it would have eventually erupted in some other sector of the market."

Critics say Greenspan himself was part of the problem, since he encouraged lending to individuals with less than excellent credit reports. Some analysts⁹ say he also may have unwittingly promoted reckless lending practices by keeping short-term interest rates at historic lows for too long.

1 turmoil   

n.骚乱，混乱，动乱

参考例句：

• His mind was in such a turmoil that he couldn't get to sleep.内心的纷扰使他无法入睡。
• The robbery put the village in a turmoil.抢劫使全村陷入混乱。

2 predecessor   

n.前辈，前任

参考例句：

• It will share the fate of its predecessor.它将遭受与前者同样的命运。
• The new ambassador is more mature than his predecessor.新大使比他的前任更成熟一些。

3 sector   

n.部门，部分；防御地段，防区；扇形

参考例句：

• The export sector will aid the economic recovery. 出口产业将促进经济复苏。
• The enemy have attacked the British sector.敌人已进攻英国防区。

4 helping   

n.食物的一份&adj.帮助人的，辅助的

参考例句：

• The poor children regularly pony up for a second helping of my hamburger. 那些可怜的孩子们总是要求我把我的汉堡包再给他们一份。
• By doing this, they may at times be helping to restore competition. 这样一来, 他在某些时候,有助于竞争的加强。

5 frankly   

adv.坦白地，直率地；坦率地说

参考例句：

• To speak frankly, I don't like the idea at all.老实说，我一点也不赞成这个主意。
• Frankly speaking, I'm not opposed to reform.坦率地说，我不反对改革。

6 presidency   

n.总统(校长，总经理)的职位(任期)

参考例句：

• Roosevelt was elected four times to the presidency of the United States.罗斯福连续当选四届美国总统。
• Two candidates are emerging as contestants for the presidency.两位候选人最终成为总统职位竞争者。

7 volatility   

n.挥发性，挥发度，轻快，（性格）反复无常

参考例句：

• That was one reason why volatility was so low last year.这也是去年波动性如此低的原因之一。
• Yet because volatility remained low for so long,disaster myopia prevailed.然而，由于相当长的时间里波动性小，灾难短视就获胜了。

8 retired   

adj.隐退的，退休的，退役的

参考例句：

• The old man retired to the country for rest.这位老人下乡休息去了。
• Many retired people take up gardening as a hobby.许多退休的人都以从事园艺为嗜好。

9 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。