肮脏浮动 A technique for managing the exchange rate in which a government publicly renounces [riˈnauns] vt. 声明放弃direct intervention in the foreign exchange markets while continuing to engage in intervention secretly.
Why is it necessary to change the term “marine insurance” into “transportation insurance”?
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The term “marine” used to refer to the insurance of ships and their cargoes. Today the movement of cargoes is frequently effected partly by other modes of transport, in association with shipping. Where cargo is concerned, “transportation insurance” seems a better term to use today than marine insurance.
What institutions does the World Bank Group consist of?
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The International Bank for Reconstruction and Development 国际复兴开发银行 The International Development Association 国际开发协会 The International Finance Corporation 国际金融组织 The Multilateral Investment Guarantee Agency 多国投资担保机构 The International Centre for Settlement of Investment Disputes 国际投资争端解决中心
Why does the exporter sometimes require a confirmed letter of credit?
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1.the confirmed letter of credit can protect you against the risks of issuing bank, the risk of foreign countries and the management of foreign exchange in which the issuing bank is located. 2. to get the conditional payment commitment of issuing bank, but also can receive extra conditional promise, so can get double guarantees of payment. 3. can obtain payment or promise of payment without recourse.
It should be noted, however, that the existence of a letter of credit is not a guarantee of payment to anyone. Its existence only assures payment to the beneficiary if the terms and conditions of the letter of credit are fulfilled. In addition, a letter of credit does not insure that the materials purchased will be those invoiced or shipped.
The IFC(International Finance Centre 国际金融中心) was established in 1956. Its function is to assist the economic development of less-developed countries by promoting growth in the private sector of their economies and helping to mobilize [ ˈməubilaiz] vt.动员;调动domestic and foreign capital for this purpose. Membership in the IBRD(International Bank for Reconstruction and Development 国际复兴开发银行 ) is a prerequisite [ˈpri:ˈrekwizit] n.先决条件 for membership in the IFC.
The common goal of these organizations is to transfer financial resources of the developed countries to the developing countries for helping them raise living standards.