08ZZ£ The Glosario World del Bank Banco Glossary Mundial English-Spanish Ingles-Espanol Spanish-English Espanol-Ingles The World Bank Washington, D.C., U.S.A. Copyright © 1996 The International Bank for Reconstruction and DevelopmentfThe World Bank Banco Internacional de Reconstrucci6n y FomentolBanco Mundial 1818 H Street, N.W. Washington, D.C. 20433, U.S.A. All rights reserved Reservados todos los derechos First printing April 1996 Primera impresi6n: avn1 de 1996 Manufactured in the United States of America Hecho en los Estados Unidos de America Library of Congress Cataloging-in-Publication Data The World Bank glossary: English-Spanish, Spanish-English Glosario del Banco Mundial : ingles-espanol, espanol-ingles. p. cm. ISBN 0-8213-3595-2 1. Economics-Dictionaries. 2. English language-Dictionaries- Spanish. 3. Economics-Dictionaries~Spanish. 4. Spanish language-Dictionaries~English. 5. Finance-Dictionaries. 6. Finance-Dictionaries-Spanish. 7. World Bank-Language- Glossaries, etc. I. World Bank. HB61.W615 1996 330' .03-dc20 96-10217 CIP Table of contentsllndice de materias Foreword ................................................................................................ iv Prefacio .............................................. ..................................................... v English-Spanish Glossary/G/osorio ing/es-espaifo/ ................................... 1 Spanish-English Glossary/G/osorio espaifo/-ing/es ............................... 245 Wodd Bank Glossary Foreword This edition of the World Bank Glossary has been revised and expanded by the Terminology Unit of the Bank's Translation, Interpretation and Conference Services Division, in close collaboration with the English and Spanish Translation Sections. The Glossary is intended to assist the Bank's translators and interpreters, other Bank staff using Spanish in their work, and free-lance translators and interpreters employed by the Bank. For this reason, the Glossary contains not only financial and economic terminology and terms relating to the Bank's procedures and practices, but also terms that frequently occur in Bank documents, and others for which the Bank has a preferred equivalent. Although many of the terms, relating to such fields as agriculture, education, environment, housing, law, technology and transportation, could be found in other sources, they have been assembled here for ease of reference. Conunents and suggestions from users will be most welcome and should be addressed to: Terminology Unit Translation, Interpretation and Conference Services Division World Bank 1818 H Street, N.W. Washington, DC 20433 USA Glosario del Banco Mundial Prefacio Esta ediciOn del Glosario del Banco Mundial ha sido revisada y ampliada por ]a Unidad de Tenninologia de ]a DivisiOn de Servicios de Traducci6n, Interpretacion y Conferencias del Banco, en esttecha colaboraci6n con ]as Secciones de Traducciones a1 Espaiiol y a1 Ingles. El Glosario tiene par objeto seIVir de ayuda a los traductores e inteIpretes del Banco. a otros funcionarios que utilizan el idioma espaiiol en su trabajo, y a los traductores e interpretes independientes que el Banco contrata. Por esta raz6n, el Glosario contiene no sOlo tenninos financieros y econ6micos y expresiones relacionadas con los procedirnientos y pril.cticas del Banco. sino tambien algunos vocablos que suelen emplearse en sus documentos. asi como otros para los cua1es se prefiere una detenninada traducci6n. Aunque muchos tenninos -propios de esferas como agricultura, educaci6n, medio ambiente, vivienda. derecho. tecnologia y tnmsportes- pueden encontrarse en otras :fuentes. se han incluido aqui para &cilitar ]a consulta. Se agradece a los usuarios que envien sus comentarios y sugerencias a: Tenninology Unit Translation, Interpretation and Conference Services Division World Bank 1818 H Street, N.W. Washington, D.C. 20433 BE.UU. English-Spanish Glossary Glosario ingles-espaiiol Depreciation at a higher than usual rate in the early years of an asset's life and a lower than usual rate in the later years of its life. -A- accelerated recall [MOV] reintegro acelerado "II:' loan prestamo "A" accelerated recovery Standard World Bank loan. recuperacion acelerada Recovery of currency used in lending operations abatement technologies subject to maintenance or value. Recovery is teemcas de reduccion de la contaminacion accelerated at the request of the member, provided Technologies designed to reduce (but not that such recovery does not result in a material eliminate) the amount of pollutants released into reduction of the sum of repurchases. the environment, e.g. from a factory. acceleration of maturity (of a loan) [mRD] above quota aceleracion, adelanto del vencimiento por encima de la cuota Declaration by a lender that the outstanding principal is due and payable immediately, together above the line (item) with the interest due, following non-compliance (partida) ordinaria with loan covenants. A customary balance-sheet or revenue-or-expense position in a financial statement as compared to a acceptance, accepting house [UK] below the line item. casa de aceptaciones Merchant bank in the u.K. specializing in absolute poor accepting bills or eIchange. personas, grupos que viven en la pobreza absoluta acceptance; bank acceptance; banker's acceptance Those with an average annual per capita income of aceptacion banearia less than that needed to pay for a minimum A bill or exchange which has been accepted by a consumption basket, based on the food necesary banker. for a recommended calorie intake, and for nonfood needs, consistent with the spending patterms of the acceptance rate (by beneficiaries of a project) poor. This rate will vary from country to country. tasa de aceptacion absorptive capacity accession capacidad de absorcion aceesion; adhesion; introduccion [agricultura] abstract (of a publication) accommodation type extracto tipo de alojamiento academic research accountability jnvestigacion academica responsabilidad; rendicion de euentas accelerate a loan accounting see also accrual (basis) accounting; engir el reembolso anticipado de un prestamo; business accounting; cost accounting; current cost engir el reembolso de un prenamo utes de su (value) accounting; double entry accounting; full vencimiento cost accounting; general price level accounting; inflation accounting; job order accounting; accelerated depreciation management accounting; managerial accounting; depreciacion acelerada, decreciente single-entry accounting; social accounting matrix; standard cost accounting; stock accounting 4 accounting entries~ entries accrual (basis) accounting uientos (contables) eontabiJidad en valores devengados; The record of a transaction in a book of accounts. eontabilidad segUn registro de derecbos adquiridos u obligaciones contraidas accounting period A form of accounting wherein all transactions are periodo contable; ejerdcio eontable recognized and recorded at the time income is earned or expenditures are incurred, irrespective of accounting practices whether or not casb is paid or received. prActicu contables accrual rate accounting price tasa de acumuladon precio de cuenta The rate at which interest is accrued. In pensions, A price used for accounting purposes (i.e. not a the rate at which benefits accrue. market price). Often used synonymously with shadow price. accruals acumuladones [acreencias; obJigaciones] accounting procedure Revenues and expenditures recognized as earned me.ooo, procedimiento contable, de or incurred and recorded in the '-mancial contabilidad statement of the periods to which they relate. accounting rate of interest - ARI accrued depreciation; accumulated depreciation tipo de intere. contable - TIC depreciacion acumulada Discount rate used to convert future values of The total depreciation suffered by an asset or asset benefits and costs into equivalent present values. group, based on customary or fairly determined rates or estimates of useful life. accounting ratio relatiOn de cuenta accrued income Ratio of accounting price to market price of a ingresos devengados, acumulados good. Income earned but neither received nor past due. accounting unit accrued interest - AI unidad contable intereses devengados, acumulados A business enterprise or other economic unit for Interest earned but not yet due and payable. which a system of accounts is maintained. accrued liabilities accounts payable pasivo acumulado cuenw por pagar An amount of interest, wages or other expenses Amounts due and payable to third parties for recognized or incurred but not paid. goods and/or services purchased for which payments have not been made. accrued loan commissions comisiones devengadas, acumuladas sobre accounts receivable~ receivables prestamos cuenw por eobrar Loan commissions earned but not paid. Amounts due from others within one year of report date for goods and/or services sold in the normal accumulated depreciation see accrued depreciation course of business, but for which payment(s) have not been receiVed. accumulated profit [accounting] utiUdades acumuladas accrual see nonaccrual status; overaccruals achievement see educational achievements 5 achievement tests [education] active loan pl1lebas de aprovecbamiento, de progreso prestamo activo escolar, de rendimiento; edmenes A loan on which disbursement is still being made. Test for measuring learner's present ability in a particular SUbject or skill (as opposed to his activity brief [EDI] potential ability). resumen de actividades previstas; sinopsis de actividades (no relacionadas con proyectos acid deposition especificos) depositos acidos actual costs acid rain cottos efectivos, reales lIavia acida Amounts determined on the basis of costs incurred as opposed to forecasted costs. acid-test ratio; liquid ratio; quick ratio relacion activo disponible-pasivo corriente actual figures The standard mRD definition is the ratio of cash cifras efectivas plus marketable securities plus accounts receivable plus other amounts readily convertible actuarial lump sum into cash to current liabilities. Other definitions monto global actuarial include ratio of current assets less inventories to current liabilities. ratio of quick assets to ad valorem (customs) duty current liabilities. ratio of cash plus near-cash derecbo (aduanero) ad valorem assets to current liabilities, and ratio of cash plus A tax: or duty levied as a given proportion of the accounts receivable plus the market value of value of a commodity or service. It grows with selected investments to current liabilities. inflation. ACP countries [Lome Convention] adaptive research paises ACP (Mrica, el Caribe y el Pacifico) invcstigacion con fines de adaptacion European Union countJy classification, consisting Research which adapts to local conditions. of countries that have established a cooperation scheme (the Lome Convention) with the European additionality Union. Consists primarily of the former colonies adicionaUdad of the European Union members. Used to refer to the provision of extra loan flows to developing countries. acquired immune- commodity agreements; international commodity A statistical measure which shows the relationship organizations; non-food agricultural commodity; of average salaries of a given population to the primary commodity; self-targeting (commodity)] midpoint(s) of the applicable salary range(s). commodity agreement comparative advantage acuerdo, convenio sobre un producto basico, ventaja comparativa primario compensation commodity assistance indemnization; remuneration; compensation asistencia en especie compensatory damages commodity loan indemnizacion compensatoria pre.tamo en especie Damages to compensate an injured party for his actual loss and/or irijury and no more, as opposed commodity producing countries, sectors to nominal damages and punitive damages. paises, sedores de pl-oduccilm primaria competent court or other authority (to enforce commodity trade awards) [ICSID] comercio de produdos basicos, primarios tribunales competentes 0 cualquier otra autoridad (para ejecutar laudos) common share; common stock; ordinary share; equity competing claims (on resources) accion ordinaria competencia por la obtencion de recursos Units of ownership in a public corporation. competitive bidding communication hub Iicitacion publica centro de comunication competitive bidding in accordance with local community facilities; social infrastructure procedures; local competitive bidding - LCB instalaciones comunitarias; infraestructura licitacion publica segUn procedimientos social nacionales, anuneiada local mente; Iicitacion publica nacional community health services Competitive bidding advertised locally and in servicios comunitarios de salud accordance with local procedures. Used where foreign competition is unlikely to be attracted. community health worker - CHW trabajador de salud de la comunidad; agente de competitive market salud comunitaria mereado de competencia, competitivo commuter complementarity viajero frecuente 0 cotidiano (por razones de complementacion; aspectos complementarios trabajo, de negocios) The provision of funds from extra sources. Used to refer to cofinancing arrangements. 40 complementary financing composite peg [foreign exchange] financiamiento complementario vinculo compuesto; vinculo a una combinacion Form of cofinancing whereby the lead agency (e.g. de monedas the Bank) in addition to making its own loan for an investment project or program, could composting participate in a commercial bank loan for the same produccion de abonos a partir de desecbos project or program with the sales of participations being pre-arranged (i.e. before the financing is compound [West Africa] executed). recinto (ocupado por una familia eItensa) complement control compound fertilizer; mixed fertilizer control de la dotacion de personal fertilizante compuesto Management imposed constraints on the number A formula or mixture of fertilizer compounds such of staff at certain grades. as nitrogen, phosphorus and potassium, in definite proportions. completely knocked down - CKD completamente desmontado compound interest Components of a piece of machinery that have not interes compuesto been assembled. compound rate of growth completion certificate (of a project) tasa compuesta de crecimiento certificado de terminacion compounding factor completion coefficient factor de interes compuesto coeficiente de semanas-personal basta la What an initial amount of 1 becomes when aprobacion del proyecto growing at compound interest. Staffweeks per project from identification to approval, excluding dropped projects. comprehensive auditing evaluacion, auditoria general, integral, a fondo completion economic rate of return Auditing going beyond financial auditing into tasa de rentabilidad economica a la terminacion evaluation and examination of other non-financial The rate of return on completion of a project. aspects of projects. component (of a project) comprehensive insurance elemento; componente segura contra todo riesgo component bidding comprehensive planning oferta parcial planificacion global, integral Bidding for part of a contract instead of a whole contract. comprehensive school escuela diversificada, polivalente composite currency unit In the United States, a secondary school that unidad monetaria compuesta includes both general education courses and Currency units denominated in a basket of specialized fields of study in its program and thus currencies. The two main ones are the Special offers academic, commercial, trade and technical Drawing Right (SDR) and the European subjects. In the United Kingdom, a non-selective Currency Unit (ECU). secondary school providing all types of education for all or most of the children in a district. composite mission misi6n multidisciplinaria 41 comptroler concertina reduction contralor reduccion de las tasas mhimas de cada tramo An accountant in charge whose technical skills arancelario, del arancel and professional interests are confined to a single Method of reducing a tariff structure by reducing organization or organizational group and who has the top rate at each step of the transition to the been given that title by the management of the next highest level, leaving the lowest rates organization(s). unchanged. compulsory saving concessional; concessionary ahorro forzoso concesionario; en condiciones concesionarias, muy favorables computable general equilibrium (CGE) model modelo computadorizado de equilibrio general concessional, concessionary aid A mathematical model developed by the World asistencia, ayuda en condiciones concesionarias, Bank to model national economies. Used in muy favorables providing projections and aiding policy analysis as it is able to analyze the effect on a country of concessional, concessionary element project results, macroeconomic factors, etc. factor, elemento concesionario, de donacion computer see mainframe computer concessional flow flujo, corriente (de fondos) en condiciones computer aided design· CAD concesionarias diseiio con ayuda de computadoras concessional terms computer aided manufacture· CAM condiciones concesionarias, muy favorables fabricacion con ayuda de computadoras concessionary; concessional computer language concesionario; en condiciones concesionarias, lenguaje de programacion de computadoras muy favorables computer virus Conciliation Rules [ICSID] virus informatico Reglas de Conciliacion [see Rules of Procedure for Conciliation computerized Proceedings] computerizado; informatizado concurrent indicator concealed unemployment; covert, disguised, indicador contemporaneo hidden unemployment A statistic which has no value for predicting desempleo encubierto, oculto, disfrazado purposes because it changes at the same time as the economy in general, e.g. many types of sales concentration ratio will peak out and bottom out simultaneously with coeficiente de concentracion overall economic conditions. Percentage of total sales or output accounted for by largest firms in a country. conditionality condicionalidad conceptual design Conditions attached to financing, often used to diseiio conceptual refer to IMF financing, e.g. upper credit tranche limits. 42 conditions of effectiveness A balance sheet in which the assets and liabilities condiciones de entrada en vigor of a controlling company are combined with the corresponding items of the organizations it owns condominial sewerage system or controls in such a manner as to disclose the sistema de alcantarillado "en condominio" financial position of the related companies as Shallow, small-diameter sewers laid at flat though they were a single financial unit. gradients run through backyards, receiving flows from short lengths of house connections before consolidated income statement making a single, "block" connection to the public estado consolidado de ingresos y gastos sewer. A statement combining the income statements of two or more associated enterprises as a single confinned letter of credit economic unit. carta de crMito confirmada Fonn of irrevocable letter of credit whereby the consolidation, land correspondent bank of the issuing bank gives an concentracion parcelaria undertaking to the beneficiary that payment will be made, provided that the beneficiary complies with consolidation (of companies) the terms of the credit. May be used as fusion (mediante fundacion de una nueva performance security. empresa) confonned copy consortium (for a country) ejemplar autenticado; copia autenticada consorcio (de coordinacion de la ayuda a un Copy of a legal document which is certified as pais) authentic. conspicuous consumption connection [electricity] consumo suntuario t de ostentacion conenon de servicio constant dollar budgeting consent (to jurisdiction) [ICSID] presupuestacion en dolares constantes consentimiento (a la jurisdiccion) Budgeting where expenses are adjusted for changes in the purchasing power of the dollar, consequential damages caused by price changes. Cf. current dollar dailos indireetos budgeting. Damages resulting from a breach which could have been reasonably foreseen. constant elasticity of substitution - CES elasticidad constante de sustitucion conservation see energy conservation Elasticity of substitution which is linearly homogeneous. consideration, for a; valuable consideration, for a titulo oneroso constant energy intensity intensidad constante de utilizacion de energia consideration [legal, economic] contraprestacion; compensacion; bonorario; constant prices pago precios constantes Something given, done or forebome in return for the promise or act of another party. constituency, chair of an Executive Director paises representado(s) por un Director consolidate maturities, to Ejecutivo; a veces: jurisdiccion consolidar los vencimientos constituent(s) of an Executive Director consolidated balance sheet pais(es) representado(s) por un Director balance (general) consolidado Ejecutivo; a veces: jurisdiccion 43 constituent subdivision or agency (of a Contracting consumer subsidy equivalent - CSE State) [ICSID] equivalente de subsidio at consumo subdivision poiftica u organismo publico (de un Measures the implicit aggregate tax on consumers Estado Contratante) generated by agricultural policy. constructed value consumer surplus valor calculado excedente del consumidor construction allowance consumption bundle asignacion por construccion consumo Allowance paid to those subject to involuntary What is consumed by an individual, population. resettlement under a Bank project for income foregone while the resettlers build their houses. consumption conversion factor - CCF factor de conversion basado en el consumo construction progress chart In evaluating project benefits, a factor used to grlifico de ejecucion de las obras adjust welfare change in border prices, based on the expenditures of the average consumer, when construction sector benefits accrue to consumers. sector, industria de la construccion consumption economy consulting firm economia de con sumo firma consultora, de consultores contact farmer [agricultural extension] consumables agricultor de enlace bienes fungibles, de con sumo A farmer that has been selected in an agricultural extension scheme who will assist in spreading new consumer [telecommunications] practices to most farmers in the area quickly. usuario; abonado containerization consumer credit uso de contenedores; contenedorizacion credito a los consumidores contingencies consumerdenrutnd imprevistos demanda de los consumidores contingencies, physical consumer durables asignacion para exceso de cantidades f'sicas bienes de consumo duraderos contingencies, price consumer goods asignaci6n para alzas de precios bienes de consumo contingency allowance; reserve for contingencies; consumer price allowance for contingencies precio aI consumidor reserva para imprevistos, contingencias consumer price index - CPI contingency mechanism [IMFlWorld Bank} indice de precios aI consumidor mecanismo de emergencia A joint scheme between the Bank and Fund to consumer subsidy assist troubled economies initially applied to subsidio a los consumidores; subvencion a los Mexico. consumidores 44 contingency plan Continuously Offered Longer-Term Securities - plan para situaciones impreviltas COLTS valores a mas largo plazo de oferta continua - contingent asset COLTS activo contingente Program of securities issued by the World Bank. An asset the existence, value or ownership of starting in 1986. Buyers can obtain maturities which depends upon the occurrence or from 3 to over 30 years as they choose. The nonoccurrence of a specified event or upon the program is indefinite (hence continuously offered) perfonnance or nonperformance of a specified act. and of a longer term than the Bank's previous discount note system. It extends the range of paper contingent commitment [IFC] available in the medium-term note market compromiso contingente [CF1] (initially medium-term meant 2-4 years but now covers up to 30 years or more). contingent interest inteRs condicional, contingente contour bund dique en curva de nivel; terraplen en curva de contingent liability nivel pasivo contingente An obligation which is conditional upon the contour farming finalization of certain transactions or may arise in cultivo en curvas de nivel consequence of a future event now considered possible but not probable. contraceptive prevalence rate - CPR tasa de uso de anticonceptivos contingent obligation obligaci6n contingente contract see arm's-length contract; breach of Type of mRD "B" loan whereby the loan is contract; breach of contract risk; call order initially financed entirely by the commercial contract; cost-plus fixed fee contract; cost-plus lender with mRD having a contingent percentage fee contract; fixed cost contract; fixed commitment to finance at a given date (Le. at the term contract; lump sum contract; man-month end of the duration considered "normal" by the contract; open-ended contract; percentage (fee) commercial markets for the specific borrower) the contract; performance contract; product in hand remaining balance of principal (if any), if the contract; production-sharing contract; program commercial lenders choose not to finance this contract; risk contract; schedule contract; schedule amount. of rates contract; "slice and package" contract; subcontract; take-and-pay contract; take--or-pay contingent reserve agreement, contract; time-based contract; turnkey reserva para imprevistos contract; unit price contract Retained earnings appropriated in anticipation of possible future losses or expenses. contract documents documentos contractuales continuation rate [contraception] tau de continuidad de utilizaci6n contract out, to The rate of continuation of use of contraceptives dar en contrato; contratar after a certain lapse of time. contract performance continuing education; lifelong education; recurrent cumplimiento de contrato education educaci6n permanente contract plan see agreed budget plan continuous cropping contract price cultivo constante, continuo monto del contrato; precio contractual 45 Contracting State [ICSID, MIGA] conventional terms Estado Contratante condiciones corrientes, come rei ales, de mercado contractioruuy policy Convention on the Settlement ofInvestrnent politic a de contraccion Disputes between States and Nationals of other States [ICSID] contractor see bonded contractor; prime, principal, Convenio sobre Arreglo de Diferencias main contractor; subcontractor Relativas a Inversiones entre Estados y Nacionales de Otros Estados contractual savings institutions instituciones de ahorro contractual convergent indicator Institutions dealing with contractual savings, i.e. jndicador coincidente savings that have to be made such as pensions. conversion at par contribution value [MIGA1 conversion a la par valor de contribucion The initial value of the resources contributed by conversion forest the guarantee holder to the investment project. bosque destinado a convertirse en••• Forest assigned for conversion to agriculture or contributory school; feeder school; preparatory other nonforest use. school escuela preparatoria convertible adjustable stock School where students go on to a specific higher- accion ajustable y convertible level school, for which it is the feeder. convertible bond control bono convertible lucha contra [enfermedades, desastres, etc.]; A bond that, at the option of the holder, may be control; ordenacion; etc. exchanged for another asset, generally a fixed number of shares of common stock. controlled economy see command economy convertible debenture loan investment [IFC] controlled flooding prestamo representado por obligaciones anegamiento control ado convertibles [CFI] controlled plot; control plot convertible release (of 18% currency) [ffiRD] parcel a testigo, de control liberacion con autorizacion de convertibilidad Release by Bank member of its 18% currency for controlling interest lending or relending, with permission granted to participacion mayoritaria the Bank to exchange the 18% currency for the Ownership of a corporation in excess of fIfty currency of any other member. percent. Can also be used for ownership of less than fifty percent if the remainder of the stock is cooperative program distributed among many owners. programa de cooperacion conurbation core see drill core; dwelling core conurbacion core commodities [ffiRD] conventional energy principales productos basicos, primarios energia de fuentes convencionaIes This term is used by the Bank to describe the ten major world commodities as defined by UNCTAD; UNCTAD, itself, does not use this term. 46 core curriculum core working hours see core hours eurrieulo, plan de estudios eomun A curriculum design in which one subject or group corporate body. institution; body corporate of subjects becomes a center or core to which all persona juridica the other subjects are subordinated. corporate bond core departments see core ministries bono de una empresa privada, de una compaiUa, de una sociedad anonima core fund [GEF] recursos basicos corporate finance The basic funding for the Global Environment gestion financiera de las sociedades Facility. corporate income tax [US]; business (profit) tax; core hours; core (working) hours corporation tax [UK] horario (de trabajo) basico impuesto sobre las utilidades core housing; nuclear housing corporate management unidad minima de vivienda; vivienda minima gestion, direccion de la institucion, empresa A basic structure, often just the shell, built for low-income families. Additional facilities are corporate restructuring provided by the family themselves, often in reestructuracion empresarial, de empresas self-help groups. corporate sector core inflation sector empresarial innacion blisica The business sector. The basic level of inflation over a period of time (e.g. a decade) as opposed to temporary corporate stocks fluctuations in the rate. acciones core ministries, departments corporate structure ministerios de hacienda y de planificacion estructura social The key ministries, i.e. planning and finance. corporate tax core process [IBRD] impuesto a las sociedades; impuesto a las actividad basica empresas Includes country, economic and sector work; country programs; the project cycle and project corporation tax [UK]; business (profit) tax; evaluation. corporate income tax [US] impuesto sobre las utilidades core project proyecto basico corporatization A project based on certain key activities as transformacion (conversion) de empresas designated by the Government. (publicas) en sociedades comerciales, entidades previstas en la ley de sociedades core staffing Conversion of an economy from state-owned dotacion minima de personal enterprises to joint stock companies. core subjects; basic subjects [education] correction see monetary correction materias basicas A subject that is considered so essential that correspondent bank everyone must have instruction in it. banco corresponsal 47 corrugationinigation cost, insurance and freight (CIF) port of riego por corngacion; riego por sureos entrylborder point price pequenos y proximos precio c.i.f.lpuerto de entrada An inigation method whereby water flows down the slope in small furrows, called corrugations or cost-of-living differential factor rills. Used for inigating uncultivated close coeficiente de ajuste por diferencias del costo de growing crops such as small grains or pasture on vida steep slopes. cost overrun cost accounting costos superiores a los previstos; sobrecostos contabilidad de costos A specialized field of accounting which deals with cost-plus contract the ascertainment, classification, recording, contrato al costo mas bonorarios, mas allocation and summarization of the various poreentaje elements of cost of production, operation and A contract in which the parties agree that the maintenance (including overheads) of an entity, contractor will submit bills for payment based on using accounting and costing principles and costs actually incurred plus either a fixed fee or a methods and techniques. percentage of those costs. cost and fee contract see cost-plus (fixed fee) cost-plus (fixed fee) contract - CPFF; cost and fee contract contract contrato al costo mas bonorarios (fijos) cost-benefit analysis A contract in which the parties agree that the anMisis de costos-beneficios contractor will submit bills for payment based on costs actually incurred plus a fixed fee. cost-benefit ratio [UK]; benefit-cost ratio [US] relaci6n costos-beneficios cost-plus percentage (fee) contract; cost-plus percentage of cost contract - CPPC cost center contrato al costo mas un porcentaje centro de costos (honorarios) An organizational unit for which accounts are A contract in which the parties agree that the maintained containing direct costs for which the contractor will submit bills for payment based on head of the center is accountable. costs actually incurred plus a percentage of those costs. cost-effective eficaz en fund6n de los costos; eficiente y de cost-plus pricing system costo minimo; eficiente y de costo mas bajo sistema de determinacion de precios en funcion del costo mas honorarios cost-effectiveness eficacia en funci6n de los costos cost price precio de costo cost estimate estimacion de costos; presupuesto cost pricing determinacion del precio de costo; fijacion de cost, insurance and freight - CIF precios en funci6n del costo tosto, seguro y nete - c.i.f. Applies to goods where the seller must pay the costs and freight necessary to take the goods to the named destination and procures any insurance required. 48 cost-push inflation countermemorial [ICSID] inflacion provocada por el a1za de los costos contramemorial A type of inflation caused largely by wage-price In proceedings before ICSID, a response to the spiral, that consists of upward pressure on the cost memorial submitted by the requesting party which of production caused by wage increases, followed outlines the basis for the case. by price increase, then further wage increases and soon. counterpart agency organismo de contrapartida cost recovery recuperacion de costos counterpart funds fondos de contrapartida cost reimbursable contract Local currency payments by the ultimate contrato con reembolso de costos beneficiaries of a Bank loan or IDA credit that Contract which provides for payment of allowable accumulate in the hands of the government or an incurred costs, to the extent provided for in the intermediary, in advance of payments due to the contract. Cf. cost-plus fixed fee contract, cost- Bank or the Association, as the case may be. plus percentage fee contract. counterpart staff cost sharing personal, funcionarios de contrapartida participacion en los costos; distribuci6n de los costos countertrade comercio compensatorio cost-sharing fee [APDF] The reciprocal and contingent exchange of goods comision de participacion en los costos and services specified by contract, with each flow Set of fees charged by the Africa Project of deliveries being valued and settled in monetary Development Facility to project promoters in order units. to have them share in APDFs costs in preparing the project. countervailing duty derecbo compensatorio cost underrun An import duty established specifically to restore costos inferiores a los previstos; infracostos the competitive position of businesses that are put at a disadvantage by a tax which raises their costs. costing determinacion de costos countries in nonaccrual status paises excluidos del regimen de contabilidad en cottage industry valores devengados industria familiar, casera, artesanal country assistance management - CAM Council of Governors (MIGA] administracion de la ayuda a los paises Consejo de Gobemadores country economic and sector work - CESW counsel [ICSID] estudios econ6micos y sectoriales de paises consejero country exposure [IBRD) counterfactual compromisos por paises; prestamos (a un pais) hipotesis; casu hipotetico desembolsados y pendientes An economic what if{ Used to imagine what might The extent to which a financial institution has lent have happened to an economy if some condition money to one country. was different from actual reality, e.g. if inflation were only x%, then... country loan [IBRD] prestamo para programas de un pais, de paises 49 country study covered interest arbitrage estudio sobre un pais, paises arbitraje de intereses con cobertura Investing dollars in an instrument denominated in country WID action plan a foreign currency and hedging the resulting plan de accion nacional relacionado con la foreign exchange risk by selling the proceeds of funcion de la mujer en el proceso de desarrollo the investment forward for dollars. Plan, at country level, intended to provide an operational framework, based on sectoral analysis, covering memorandum for targeting and designing Bank assistance in a memorando de transmision manner that will effectively reach women and improve both their contribution to economic covert, concealed, disguised, hidden development and the benefits they derive from it. unemployment desempleo encubierto, 04:ulto, disfrazado country-wide project proyecto de ambito national crawl [noun] deslizamiento (de un tipo de cambio dentro de coupon bond una banda) bono con cupon crawling peg [rate of exchange] coupon equivalent yield vinculo movil; paridad movil; ajuste gradual del rendimiento equivalente a un interes nominal tipo de cambio The yield obtained from the difference between the A form of international exchange in which purchase price and the face value of a short-term monetary authorities make frequent small changes noninterest-bearing instrument, expressed as a in the rate at which the nation's monetary unit percentage, determined by the difference divided officially trades with others. In some cases the by the purchase price. change is triggered when certain conditions are met. coupon rate (of a bond) interes nominal; tasa de emision creative financing Interest to be paid regularly on the face value of a financiamiento innovador, imaginativo; form as bond or other long-term debt instrument. novedosas de financiamiento Financing using unconventional means, e.g. course see base course special swaps, etc. course interchange [education] credit see also back-to-back credit; financial credit curso de elementos intercambiables In education, a course with interchangeable credit account [IDA] features. cuenta del credito Account opened by IDA on its books in the name covenants [loan agreements] of a borrower to which the amount of a credit is estipulaciones credited. cover see plant cover credit arrangements acuerdos de credito coverage cobertura; campo de aplicacion; alcance credit balance see unspent credit balance cover crop; nurse crop credit ceiling; credit limit cultivo protector, de cobertura limite, tope de credito A companion crop grown to protect some other crop sown with it, as small grain is sometimes credit crunch seeded with clover. restriction pronunciada del credito 50 credit facilities credit tightening; credit squeeze sistemas, mecanismos, servicios de credito, restriccion del credito crediticios creditworthiness; financial standing credit-in-kind capacidad crediticia; solvencia credito en especie The likelihood of a borrower to pay back a debt, based on past credit performance. credit limit; credit ceiling limite, tope de credito creep see grade creep credit line [IFC] creeping inflation linea de credito inflacion progresiva Credit line (also known as equity line or agency line) set up by IFC in favor of an intermediary critical consumption level - CCL which would draw on the line to make loan and nivel critico de consumo - NCC equity investments for IFC's account. Poverty line at which additional consumption changes are equally valuable to investment. credit line on an agency basis; agency line [IFC] linea de credito a traves de un agente critical path method - CPM metodo del camino critico credit multiplier Type of planning method which shows the multiplicador del credito interrelationship in sequence of all the activities The ratio of change in the volume of lending by a involved in undertaking a project. The network of group of deposit-taking financial intermediaries activities highlights those operations or activities (especially banks) to the change in reserve assets which are critical for the successful completion of which initiated the change. More commonly, it the project within the scheduled time scale. denotes the ratio of change in bank deposit liabilities caused by the increased extension of cronyism credit, to the initiating change in reserve assets. favoritismo; preferencia por los amigos; amiguismo credit rating c1asificaci6n del cridito, de creditos, crediticia cropping intensity intensidad de cultivo credit spread trades transacciones conforme a margenes de riesgo y cropping pattern rendimiento sistema de cultivo Investment in higher risk paper on the one hand (in the case of the Bank this includes agency crop-cut method securities, Eurobonds and off-the-run securities) metodo de los cuadrados de rendimiento and current government securities on the other. Method for estimating agricultural production, The yield spread between the two is monitored. consisting of taking a few small subsamples in the When the higher risk paper is trading at a higher form of small squares, selected by using a grid, than normal yield spread, the higher risk security and extrapolating from these results. is bought and the lower risk security sold; when the spread narrows, the trade is reversed. crop production producci6n agricola, de cultivos credit squeeze; credit tightening restricci6n del credito crops cultivos; cosecbas; productos agricolas credit standing reputaci6n en materia de credito; credito crop tree The current creditworthiness of a borrower. 'rbol de cultivo, aprovecbable 51 crop year cross rate campana; ano agricola tipo crozado; tasa crozada The exchange rate between currencies A and C cross-border; transterritorial which is derived from the rate between A and B transnacional; transterritorial; transfronterizo; and the rate between B and C. a veces: internacional [see also broken cross rates] cross-bred progeny [livestock] cross-reference clause animales de croza c1ausula de referencia The results of crossing two different breeds or A clause in a Bank loan document referring to a varieties. loan by a commercial bank. cross-classification cross-sectional analysis doble c1asificacion; c1asificacion crozada anlilisis transversal An analysis on the basis of a cross section, i.e. the cross-conditionality clause same things at the same time as opposed to a time c1ausula de condicionalidad recfproca series, i.e. the same things at a different time. A clause in a World Bank/IMF loan agreement that makes action affecting one organization apply cross-sectional data [econometry] to both organizations. datos transversales A set of data involving observations taken at one cross-country studies point in time. estudios comparados entre paises cross section(al) survey cross-default clause encuesta (de seccion) transversal c1ausula reciproca en caso de incumplimiento Survey which provides a snapshot of an entire A clause in a loan agreement specifying that population or of a sample population. default on any other loans to the borrower shall be regarded as default on this one. cross section sample muestra representativa cross-effectiveness clause chiusula reciproca de entrada en vigor cross subsidization A clause in a loan agreement that states that the subvencion crozada; subsidio crozado agreement only comes into effect when the cofinance loan comes into effect. crosswalk document documento, matriz de referencia crozada, cross elasticity comparacion elasticidad crozada Document that provides cross references between, A measure of the influence of a price of one good for example, two budgets which use different on the demand for another. systems of classification. The most common form consists of a matrix which helps the reader to crossover discount rate; equalizing discount rate determine where an item in the multiyear planning tasa de actualizacion de equilibrio budget may be found in the annual budget. The discount rate that equalizes the net present value of two streams of benefits and/or costs. crowding in atraccion; invasion cross-placements Occurs where government bonds are sufficiently colocaciones crozadas good money substitutes so that bond issues reduce demand for money balances, leading to an expan- cross price elasticity sionary impact via their effect on portfolio elasticidad-precio crozada composition. Same as cross elasticity. 52 crowding out currency-hedged transaction desplazamiento transacdon cubierta contra riesgos cambiarios Any displacement of private economic activity by A transaction where assets/liabilities are matched public economic activity. by currency. crude birth rate - CBR currency liabilities tasa bruta de natalidad pasivos monetarios Birth rate for an entire population. In national accounts, the liabilities of a country denominated in another currency. crude death rate tua bruta de mortalidad currency mix Death rate for an entire population. combination de monedas culled cow currency option bond see multiple currency option vaca de desecho bond A cow that has been eliminated from the herd because of disease, low quality, etc. currency pool fondo comnn de monedas culture fishery A system set up by the World Bank to equalize piseicultura among all borrowers at any time the risks inherent Fish breeding in a controlled environment. in fluctuations in the exchange rates of the curren- cies disbursed and repayable on all Bank loans cumulative charge number [currency pool] included in the system. Equalization is achieved base de dlculo de la tasa de interes de los by pooling all currencies disbursed and outstand- desembolsos acumulados; base de c8lculo ing on participating loans and by expressing the acumulada outstanding principal amount of each such loan as The charge number for cumulative a share of the pool. As a result, loan-service disbursements. obligations on each participating loan are related to all amounts in various currencies disbursed and cumulative letter of credit outstanding on all loans in the system. carta de credito acumulativo; credito acumulativo currency-specific costs Form of revolving letter of credit where amounts costos relativos a mooed as especificas from unused or incompletely used portions may be carried forward and used in a subsequent period. currency swap swap, intercambio de monedas cumulative write offs System whereby an institution with funds in one anuladones, canceladones acumuladas en libros currency converts them into another and enters The total amounts written off since operations into a forward exchange contract to recover the began. currency borrowed. curb market see over-the-counter market currency transfer risk [MIGA] riesgo de transferenda de moneda currency see also border currency; calling in of a One of the covered risks. Defined as "any currency; composite currency unit; domestic introduction attributable to the host government of currency; 18% currency; 18% currency out on restrictions on the transfer outside the host loan; eligible currency; Eurocurrency market; country of its currency into a freely usable European Currency Unit; foreign currency; gold- currency or another currency acceptable to the pegged currency; bard currency; intervention holder of the guarantee, including a failure of the currency; local currency; major currency host government to act within a reasonable period of time on an application by such holder for such transfer." 53 currency translation price index, replacement cost, current entry traduccion de monedas prices, current exit prices, reproduction cost and Recording in accounts of assets (or liabilities) in discounted present values. Current cost deals with one currency when they are actually in another. the effects of changes in prices of resources used No actual exchange of funds takes place. The by the enterprise and is concerned with values to World Bank and IFC, for example, translate all the business rather than costs. their assets and liabilities into U.S. dollar amounts, regardless of the actual currency in current dollar budgeting which they are denominated. presupuestacion en dolares corrientes Budgeting where expenses are not adjusted for currency unit changes in the purchasing power of the dollar but unidad monetaria represent actual prices. Cf. constant dollar budgeting. current account deficit deficit en cuenta corriente current (entry) value; replacement value; current cost [accounting] current account pattern valor de reposicion configuracion de las cuentas corrientes The amount of cash (or its equivalent) that would have to be paid if the same asset - either an current amount see current insured amount identical asset or an asset with equivalent productive capacity - were acquired currently, current assets computed by applying to historical cost one or activo corriente; activo disponible y realizable a more index numbers (= adjusted historical cost) corto plazo or by substituting for historical prices prevailing Unrestricted cash or other asset held for prices of equivalent goods and services. conversion within a relatively short period into cash or other readily convertible asset or currently current equity investment see net book value useful goods or services. current exit value; exit value; net realizable value current balance of payments [UK] [accounting] balanza en wenta corriente valor de realizacion The estimated selling price in the ordinary course current blend [IFe) of business less costs of completion and less costs indice combinado de desempeiio de la cartera necessarily to be incurred in order to make the A rate used by IFC to assist in determining the sale. It is often used to determine a measurement performance of its loan portfolio, it is based on of an asset value in terms of the amount of cash or actual and projected debt-to-equity ratios. its equivalent expected to be derived from the sale of the asset, net of costs required to be incurred as current budget a result of the sale. presupuesto ordinario, corriente The projection of income and expense at current insured amount; current amount [MIGA] anticipated levels of activity rather than in terms cantidad asegurada corriente; cantidad of ideal goals. corriente The amount of the guarantee. Some countries use current cost [accounting] see current (entry) value this amount as the basis for compensation. current cost (value) accounting; current value current international payments accounting; value based accounting pagos internacionales corrientes contabilidad segUn el costo (valor) de reposicion Accounting approach designed to reflect changes in the value of assets or goods themselves for changes in specific prices by the use of several methods. The methods commonly used are specific 54 current liabilities value-added tax or customs duties. The state pasivo corriente; pasivo exigible a corto plazo draws up a bill for the amount in question which Liabilities that are to be paid out of current assets the corporation agrees to pay on maturity. or transferred to income, usually within one year or less. customs valuation (practices) (practicas de) avaluo aduanero, de aduana current maturities vencimientos a menos de un aDo cutoff date [debt] That portion of debt falling due for repayment in fecba limite the accounting year following the date of the balance sheet (i.e. within twelve months of the cutoff point (for Bank or IDA financing) balance sheet date). limite (para la concesi6n de financiamiento de la AIF 0 del Banco) current prices Point at which a country is no longer eligible for precios corrientes Bank or IDA financing. current ratio; working capital ratio cutoff rate (of return) [projects] relacion corriente [America Latina]; coeficiente tasa de rentabilidad aceptable, de desistimiento; de soJvencia [Espana] tasa limite de rentabilidad aceptable Ratio of current assets to current liabilities. It is The rate of interest (commonly the opportunity the main liquidity ratio. cost of capital or the accounting rate of interest, Little-Mirrlees method, or the consumption rate current revenues of interest, UNIDO method) below which capital ingresos corrientes; ingresos fiscales corrientes investment projects should be rejected. It is often taken to be the opportunity cost of capital. The current terms, in cutoff rate would be the minimum acceptable en terminos, cifras corrientes internal rate of return for a project or the discount rate used to calculate the net present current value worth, the net benefit-investment ratio or the valor actualizado (principal) benefit-cost ratio. current value see current (entry) value cut-over forest bosque de segundo crecimiento, bosque talado current value accounting see current cost (value) Secondary forest that has already been logged but accounting regrown. current yield rendimiento corriente curriculum plan de estudios; curriculo [see also core curriculum] custom retrofitting modificacion de productos fabricados en serie customs duty bill letra aduanera garantizada Special type of credit in France granted by the state to corporations to allow them to pay indirect taxes or customs duty, with a guarantee provided by a bank or other financial institution. These bills allow the corporation to defer payment of 55 deadwood equities [IFe] capital improductivo, "Iutre" -0 - Investments that either have a loss reserve, a write-off, paid less than half of the portfolio's average dividend rate the past two years, are dam see diversion dam; earthfill dam; storage dam presently valued at less than 1.2 times cost, or whose prospects for future price appreciation are data collection estimated to be poor. recopilacion de datos dealer see securities dealer dated information informacion desactualizada dean (of the Board ofOirectors) decano day release; block release Iicencia de tiempo completo debenture (bond) The system by which a trainee is authorized to be bono sin garantia especifica; debenture absent from work, usually for one or two complete [EE.UU); bono con garantia de activos [Reino days a week, with or without pay, in order to Unido1 attend part-time courses of related instruction and l. U.S.: Unsecured bond. general education constituting part of his training 2. U.K.: Loan secured against specific or general program. assets of a company. [see also convertible debenture loan investment] day-to-day money see call money debt bunChing days receivable acumulacion de vencimientos daas de atraso en el pago de las cuentas por cobrar debt burden ratio The average number of days overdue of accounts relacion intereses de la deuda - exportaciones receivable. It is used as an indicator of the Interest on debt as a percentage of exports. efficiency of the commercial operations of a corporation, as it reflects its ability with regard to debt cancellation collection of bills. The Bank target is around 60 anulacion, condonacion de una deuda days. debt carrying capacity dead storage (capacity) capacidad de endeudamiento capacidad no utilizable Conversion of debt into equity (see debt-equity swap). deadweight (losses) (perdidas de) peso muerto debt conversion Loss of consumer surplus incurred by buyers and conversion de la deuda not captured by producers, which is consequent upon an initially competitive industry becoming debt -creating monopolistic and therefore, ceteris paribus, que genera deudas charging a higher price and selling a lower level of output. debt distressed country pais agobiado por la deuda deadweight tonnage - OWT toneladas de peso muerto debt due The weight in long tons that a vessel can carry deuda vencida when fully laden. debt enhancements mejora de las condiciones de la deuda 56 debt~uity conversion; debt~uity swap debt ratio capitalization de la deuda; conversion de la relacion de endeudamiento deuda en capital Ratio of total liabilities to total assets. debt~uity conversion fund [IFC] debt relief fondo de conversion de la deuda en capital; alivio de la carga de la deuda fondo de capitalizacion de la deuda debt rephasing; rescheduling of debt; rephasing of debt-equity ratio; debt-to-equity ratio; a debt; debt rescheduling debt-to-capital ratio reprogramacion (de) servicio) de la deuda relacion deuda-capital; coeficiente de endeudamiento debt representation letter Mainly used to describe the ratio of total liabilities carta de declaracion de la deuda externa to shareholders' equity (net worth). It can also A letter from a member to the Bank outlining the be used to describe the ratio of long-term debt to country's external debt. equity, net long-term debt to equity, total or long- term debt to tangible equity (= equity plus revenue debt rescheduling; rescheduling of debt; debt plus capital reserves). All these definitions are rephasing; rephasing of a debt used in the World Bank and IFe, so care should be reprogramacion (del servicio) de la deuda taken in translation to ensure the correct term is used. Other definitions are used outside the World Debt Restructuring Facility - DRF Bank. servicio de reestructuracion de la deuda debt~uity swap; debt equity conversion debt retirement capitalizacion de la deuda; conversion de la rescate de la deuda deuda en capital Paying off a debt. debt financing debt sales finaneiacion mediante endeudamiento descuento de instrumentos de deuda debt forgiveness debt service coverage condonacion de deudas, de la deuda cobertura de servicio de la deuda Ratio of net income after taxes plus interest on debt-for-health swaps long-term debt plus depreciation to debt service. conversion de deuda en programas de salud Exchanges of developing country debt for debt-service ratio assistance for health programs. coeficiente del servicio de la deuda External public debt-service ratio (Le. interest and debt funding principal payments) as a percentage of export financiamiento de la deuda earnings from goods, nonfactor services, and workers'remittances. debt outstanding and disbursed - DOD deuda desembolsada y pendiente debt service requirements obligaciones relacionadas con el servicio de la debt overhang deuda deuda pendiente 1. The total outstanding debt. debt service schedule 2. The total debt that cannot be readily covered calendario del servicio de la deuda by expected growth. debt servicing capacity capacidad para atender el servicio de la deuda 57 debt strategy deep market estrategia ante (de) la deuda Mercado muy activo A very active market. debt-to-capitaI ratio see debt-equity ratio deep sea fishing debt-to-equity ratio see debt-equity ratio pesca de altura debt workout program [World Bank] deep water port programa de reestructuracion de la deuda puerto de aguu profundas Debtor Reporting System [World Bank] deepening see capital deepening; capital Sistema de notificacion de la deuda aI Banco deepening investment; financial deepening Mundial deepening of the industrial structure decapitalize modernizacion de la estructura industrial descapitalizar default [ICSID] decision-maker rebeldia (unicamente en el sentido del Art. persona responsable de adoptar decisiones 45[2J del Convenio) decision-making body default on obligations organo decisorio, de decision incumplimiento de obligaciones decision-making power defensive expenditures facultad decisoria, de decision gastos preventivos National accounts concept for expenditure to declining balance method; reducing charge protect the environment and to combat those method undesirable aspects of economic activity that lead sistema (de amortizacion, de depreciacion) de to environmental decay, resource degradation and saldo decreciente depletion and pollution. In depreciation where the annual charge for depreciation is the amount obtained (a) by deferrable participating loan applying a fixed percentage to the diminishing prestamo participatorio con obligacion balance of the asset account, that is the balance contingente de pago de intereses after deducting preceding depreciation provisions; A loan used by !FC whereby the interest paid is or (b) by applying a diminishing rate to the linked to the profits of the company. original cost of the asset. deferred charges, expenses deductible [insurance] cargos diferidos; gastos diferidos franquicia Expenditures carried forward as an asset until they become relevant (such as an advance rent payment deduction see tax deduction of insurance premium). deed of trust deferred depreciation escritura de constitucion de deuda; escritura de depreciacion diferida fideicomiso deferred rate and currency setting deep discount bond, note fijacion diferida de la tua de interes y la bono de descuento intensivo moneda Bond with relatively low-coupon rate of interest, offered with a discount in excess of what can nor- mally be treated as capital gain by the investor. 58 deferred rate setting - DRS deflate, to fijacion diferida del interes defladar Method of locking in a spread over a Treasury benchmark while distributing the rate fixing over deflation several months. TreasUl)' securities are purchased, deflacion with the pricing benchmark being the issue at the time the borrowing was launched and the deflationary gap securities are sold when the borrower wants to fix brecba deflacionaria the Treasury yield component of the borrowing cost. The issue spread is locked in at time of issue deflator and the Treasuty yield component of the cost is deflador stripped out. Any decrease in interest rates after An implicit or explicit price index used to the issue date would mean the Treasury notes distinguish between those changes in the money could be sold at a profit which would reduce the value of gross national product which result from borrowing cost of the issue to a level reflecting the a change in prices and those which result from a original issue spread and the Treasury yield at the change in physical output. time the Treasury notes were sold. Conversely, [see also commitment deflator; GNP price any increase in interest rates would mean a loss on deflator; implicit deflator; implicit gross the sale of the TreasUl)' securities and an increase domestic product deflator) in the borrowing cost to a level reflecting the higher TreasUl)' yield. deforestation [see also anticipatory rate setting] deforestacion deferred recovery degree of concessionality recuperacion diferida medida en que la asistencia es concesionaria, Recovery of currency used in lending operations muy favorable subject to maintenance of value. Recovery is deferred for any currency outstanding on loan degressive scale since June 30, 1987. escala decreciente deficiency see vitamin deficiency dehusking; husking descascarar; desbojar deficit country pais deficitario delegation of authority delegacion de atribuciones, facultades deficit financing financiacion con, mediante deficit delink, to [foreign exchange) presupuestario desvincular definitive application for guarantee delinking [foreign exchange] solicitud definitiva de garantia desvinculacion (de divisas) An application for a MIGA guarantee, to be made once investment plans are established. It provides delinquent taxes the detailed information with which MIGA will impuestos en mora determine investor, investment and project eligibility; the details of the investment to be delivered at frontier - DAF insured and the types of guarantees desired; the entregado en frontera economic and developmental effects of the project Applies to goods that the seller must deliver to the on the host country and the basis for confirming frontier of the country named in the sales contract. the economic viability of the project enterprise. See notice of registration, preliminary application for guarantee. 59 delivered duty paid • DDP demerit goods entregado con derecbos pagados bienes de escaso interes social Applies to goods that the seller must deliver to the A merit good in which the merit is negative, e.g. buyers' premises. alcohol consumption. delivered energy demonstration activity energia entregada operacion, actividad de demostracion delivery (of a contract) demonstration effect formalizacion; perfeccionamiento efecto de demostracion delivery of bids see bid submission demonstration plot parcela de demostracion delivery system; supply system sistema de prestacion, de suministro (de un demonstration school; laboratory school; model semcio); sistema, red de distribucion, de school; practice school reparto escuela de aplicacion; escuela experimental A school attached to a teacher-training demand deposit establishment in order to allow students to observe deposito a la vista experienced teachers at work and to undertake Deposits payable within thirty days. teaching practice themselves. demand management demurrage gestion, regulacion de la demanda sobrestadia Influence over the wants of buyers, usually The money payable to the owner for the delay for consumers, e.g. advertising. which the owner is not responsible in loading and/or discharging after the laytime has expired. demand money see call money dendrothermaI power plant demand note central eh~ctrica dendrotermica pagare a la vista denominated in (dollars, etc.) demand-pull factors expresado; denominado fadores de atraccion (dellugar de destino) relacionados con la demanda departmental forces see force account Factors that attract migrants into another country. departmentalization [education] demand-pull inflation departamentalizacion, division de la enseilanza innacion producida por la (presion de la) demanda dependency allowance A rise in prices brought about by consumers and asignacion por cargas familiares, por persona a investors with rising incomes as they compete for cargo a relatively limited supply of valuable goods. dependency ratio demand shift relacion de dependencia (por edades) desplazamiento de la demanda Proportion of children and old people in a population in comparison with everyone else. dematerialization of manufactures aumento del componente de senicios en los dependent productos manufacturados persona a cargo; carga familiar The phenomenon whereby the service content of manufactured goods is increasing. 60 depletion allowance, reserve options, as well as over-the-counter swaps, options asignacion por agotamiento; reserva por and similar instruments. agotamiento An allowance for exhaustion of a natural resource. design diseiio; idea; creacion; proyecto; plano; modelo; deposit see geothermal deposit concepto; formulacion; etc. [see also conceptual design; detailed design; deposit liabilities engineering design; preliminary design; project obligaciones en, por concepto de depositos design] depositor rate of interest; borrowing rate [banks] design capacity tipo, tasa de interes sobre los depositos; tipo, capacidad nominal, de diseiio tasa pasivo(a) The rate of interest paid by banks on deposits. design engineering ingenieria de diseiio depository bank banco deposita rio design speed A bank that is designated and authorized to accept velocidad de diseiio, nominal deposits of funds belonging to the federal The highest continuous safe vehicular speed as government or other government bodies, or funds governed by the design features of a highway. from other banks which the latter are required by law to maintain as reserve against deposits. design standards normas de diseiio depreciation see accelerated depreciation; accumulated depreciation; allowance for designated forest depreciation; deferred depreciation; straight-line bosque reservado depreciation Forest legally set aside for preservation or production. depreciation allowance see reserve for depreciation Designating Authority (of Panel Members) depreciation on a straight line; straight line [ICSID] depreciation autoridad que efecttia la designacion amortizacion (depreciacion) lineal, constante, de cuotas fijas designer proyectista; diseiiador depressed industry industria en decadencia, en crisis desk officer funcionario encargado de un pais Deputy [Dev. Comm.; IDA] suplente desk study estudio documental, de referencia Deputy Secretary General [ICSID] Secretario General Adjunto desktop publishing edicion, publicacion mediante deregulate microcomputadora desreglamentar; desregular; Iiberalizar despatch money; dispatch money derivative instruments prima, bonificaci6n por descarga rapida instrumentos derivados The money payable by the owner if the ship A contract whose value changes as prices move in completes loading or discharging before the a related or underlying commodity or financial Jaytime has expired. instrument. The term covers standard futures and 61 destination taxes development period (of a project, of a company) impuestos seg1in mere ado final fase. etapa inicial detailed design, engineering development planner diseiio detallado; estudios tecnicos detallados; pJanificador del desarrollo pianos tecnicos detail ados development planning deterrent planificacion del desarrollo factor, elemento de disuasion. disuasivo deworm developing island country desparasitar pais insular en desarrollo diagnostically related groups - DRG development grupos homogeneos de diagnostico desarrollo; fomento; aprovechamiento; Groups of related ailments for which identical fee evolucion; preparacion; elaboracion; schedules can be prepared. bonificacion; urbanizacion; expJotacion; mejoramiento; auge; progreso; adelanto; diesel fuel; diesel oil acontecimiento; invencion; creacion; avance; (combustible) diesel; gas6leo nueva circunstancia; nueva situacion; etc. [see also area development; engineering diesel (fired) power plant development; Evaluation Capability Development planta electrica diesel; central electrica diesel Program; land development; letter of development policy; management development; manpower dietary energy supply - DES development; site development; skills suministro de energfa alimentaria - SEA development; staff development; whole farm Kilocalories per capita per day of food development; World Development Indicators] consumption. A standard measure of food intake. development area dilution see stock dilution zona en desarrollo diminishing returns development bank rendimientos dec recientes banco de desarrollo, de fomento [see also law of diminishing returns] development bond dip [stockbreeding] bono de desarrollo baiio development credit agreement [IDA] dipping tank convenio de credito de fomento tanque de inmersion development drilling direct contracting [procurement] perforacion de explotacion contratacion directa Drilling in a known producing field as opposed to Award of a contract without using competition. exploratory drilling. direct costing development finance company - DFC c81culo de costos directos; determinacion de institucion financiera de desarrollo costos directos The process of assigning costs as they are incurred development finance institution - DFI to products and services. institucion financiera de desarrollo direct labour see force account 62 directed credit disclosure information credito dirigido Iibre acceso a la informacion directed economy see command economy discontinuance [ICSID] desistimiento (unicamente en el sentido del Art. direction of lending 45 del Convenio) distribucion del financiamiento (entre los paises) discount descuento directly unproductive profit seeking (DUP) [see also exchange discount] activities actividades con fines de lucro directamente discount, to [finance] improductivas descontar; actualizar direct overhead budget discount bond presupuesto de gastos generales directos bono descontado In the World Bank, a budget for those overhead Bond selling at a price less than its par value. expenses controlled by the manager. Include office equipment, direct communications, equipment discount factor depreciation, field office costs, supplies and factor de descuento, actualizacion materials. How much 1 at a future date is worth today. direct shopping [procurement] discount note compra directa pagare descontado Procurement based on direct comparison of price Note (Le. short- or medium-term bond) issued at a quotations. No bidding documents are used. discount from its face value. On maturity, the investor receives the full face value. The discount direct work see force account from par, thus, corresponds to the return on the investment. dirty bill of lading see claused bill of lading discount rate [central bank] disadvantaged group tasa, tipo de redescuento grupo desfavorecido Rate at which a central bank (Federal Reserve System in the U.S.) (re)discounts certain bills for disbursement deflator financial institutions. deflactor de los desembolsos Coefficient used to convert disbursement amounts discount rate [project appraisal; securities] into constant dollars. tasa de actualizacion Annualized rate of discount applied to debt disbursement letter securities issued below par (e.g. U.S. Treasury aviso, notificacion de desembolso bills). [see also shadow discount rate; social rate of disbursement officer discount] oficial de desembolsos discount window [central bank] disclaimer redescuento declinacion de responsabilidad 63 discounted cash flow (DCF) method disguised unemployment; concealed, covert, metodo de actualizacion de los ftujos de fondos hidden unemployment A type of analysis based on discounting cash flows desempleo oculto. encubierto. disfrazado to the present by a given discount rate. It allows an analyst to take into account the fact that a dishoarding dollar of benefit received a year from today is not desatesoramiento as valuable as a dollar of cost incurred today, for Returning an item to either the real flow or the example, because if the cost had not been incurred, money flow so that it can be circulated, consumed the dollar could have been invested, and in a year's or otherwise used in its intended function. time at an interest rate of, say, 10%, the capital would have grown to $1. 10. Because projects vary disincentive widely in the pattern of their costs and benefits desincentivo over time, DCF is necessary to place them on a common present value basis for comparison. disinflation desinflacion discretionary expense budget presupuesto de gastos discrecionales disinflationary In the World Bank, a budget for those expenses desinflacionario directly controlled by the manager. Include salaries, temporary staff costs, overtime, disintermediation operational travel, representation, hospitality, desintermediacion consultants, contractual services, internal 1 Shift of funds away from financial inter- computing and language services. mediaries (commercial banks, etc.) into Treasury bills and other securities. discretionary income 2. Shift by large corporations away from banks ingreso discrecional to a parallel market, involving other large Income available after payment of necessaries such corporations. as housing, taxation, etc. disinvestment discretionary liquidity desinversion liquidez discrecional The amount of liquidity held by the Bank above dislocated worker the minimum prescribed. trabajador desplazado discretionary spending dispatch money see despatch money gasto discrecional disposable income discussion paper ingreso disponible documento de trabajo disposal see waste disposal disease see pest and disease control; vectorborne disease; water-based disease; waterborne disease; dispose (of) for value, to water-washed disease enajenar a titulo oneroso diseconomies disqualification [ICSID] deseconomias reeusacion Occurs when, as a firm grows larger, management becomes less efficient, raw material costs rise dissaver because local supplies are exhausted or for similar ahorrador negativo reasons. dissaving disestablish, to desahorro; ahorro negativo suprimir 64 distance learning, teaching documentary enseiianza a distancia; educacion a distancia credito documental Teaching by remote media such as radio or An arrangement where a bank, on behalf of a television. customer, makes payment to a third party or authorizes such a payment to be made. distress borrowing endeudamiento forzoso documentary evidence Borrowing in a situation of extreme need when pruebas documentales there is no other alternative. dollar budgeting distressed loan presupuesto basado en los costos efec:tivos prestamo (que se halla) en dificultades Budget planning based on actual cash outlays for Loan on which repayment of interest and principal the budget, rather than for a fixed amount of has been severely delayed or completely items, with allowances for cost increases suspended. dollar gap distress price escasez de dolares precio de necesidad When the inflow of dollars into the US is high, causing a shortage of dollars on the international distress sale, selling market. venta de bienes embargados, secuestrados; venta a cualquier precio, de urgencia dollarization dolarizacion distributional weight ponderacion distributiva domestic asset formation; domestic capital formation disutility formacion interna de capital desutilidad Gross fixed capital formation plus increase in stocks. ditch rider; waterman canalero domestic content Person responsible for supervising an irrigation contenido de origen national area. domestic currency diversion darn moneda nacional presa, represa de derivacion A barrier across a stream built to turn all or some domestic economy of the water into a diversion. economia interna, national divestiture; divestment domestic finance studies privatizacion; venta (de una empresa); cesion; estudios sobre finanzas nacionales traspaso de intereses Disposition of an asset or investment by outright domestic preference; preference margin; sale, employee purchase, liquidation, etc. preferential margin; margin of preference [procurement] divestment see divestiture margen de preferencia a empresas nationales; preferencia por los productos nation ales dividend see stock dividend Preference given to certain goods and services of domestic origin in a bidding procedure. dockage; wharfage; wharfage charges muellaje 65 domestic resource cost - DRe double shift teaching system costo en recursos intemos ensenanza en doble jomada, de doble tumo Cost of resources used in products that are not System where, normally because of overcrowding, imported. one group of pupils is taught in the morning, the other in the afternoon. domestic savings morro intemo double taxation doble tributation, imposition domestic value added A term widely used to describe double taxation of valor agregado, aftadido en el pais corporate earnings, once through corporate income The value added to a product by local or domestic tax and again through taxation of corporate activities. dividends paid out of after-tax earnings. Also used to describe taxation paid on income first in one donor country country and then another. pais donante double-weighted borrowing cost [IBRD] dose-response relationships costo de los emprestitos con doble ponderation relacion dosis--efecto When calculating borrowings, the IBRD takes the The direct relationship between a specific amount amount of the loan, multiplies it by the interest of environmental pollution and its environmental rate, and obtains a total for the interest. All the impact. This is the easiest way to cost the effects of loans and all the interest totals are added. The first pollution but is not always feasible. sum is then divided by the second to obtain the weighted average interest. This is the double cropping; sequential cropping single-weighted borrowing cost. Recently, the cultivos dobles; cultivos sucesivos IBRD has obtained the interest total by Planting one crop after harvesting another. multiplying the amount of the loan by the interest and the number of years to maturity, to take into double~y phenomenon account the fact that it has loans of varying fenomeno de la doble tarea (de la mujer) maturities. The weighted averaged interest Phenomenon of women being wage-earners and obtained from this calculation is called the responsible for children and household tasks. double-weighted borrowing cost. double digit inflation; two digit inflation doubtful debt (tasa de) inflation de dos digitos, de 100/00 mas deuda dudosa, de cobro dudoso double entry accounting down payment (on the budget deficit) contabilidad por partida doble reducciiin initial An accounting system in which every transaction results in corresponding debit and credit entries in down time the system. All credits equal all debits at all times. tiempo de inactividad double factorial terms of trade downgrade, to (a loan) relacion de intercambio de dos facto res rebajar de categoria Terms of trade where changes in productivity in both trading partner countries are taken into downloading account in order to estimate the division of the real transferencia desde el sistema principal gains from trade. They therefore vary proportionately with the net barter terms of trade downsize, to and with productivity in the export sector but reducir de tamafto inversely with productivity embodied in imports. 66 downstream effect, benefit drift fishing efecto (0 beneficio, etc.) mediato pesca de deriva downstream innovations drill core innovaciones inducidas por el usuario testigo downstream plant. facilities drilling planta de elaboracion secundaria [petroleo]; perforacion instalaciones de elaboration, transporte y distribucion drilling rig, platform see oil (drilling) rig downswing drip irrigation; dribble irrigation; trickle irrigation fase descendente, de contraction; movimiento riego por goteo descendente The application of water to the soil through small orifices in plastic pipelines. downturn (economic) initiacion de la fase descendente; cambio droppage [IFC] desfavorable de la coyuntura abandono; renuncia When a borrower from IFC decides to cancel a downward trend loan before signature. tendentia descendente drop out [education] drainage system see storm water drainage system desertar; desercion; desertor escolar draw, to (funds) dropout rate [education] girar, retirar, utilizar fondos tasa de desercion drawback [customs] drought stress reintegro tension debida a la sequfa An amount of money which is collected as a Stress on a plant due to lack of water. customs duty on imported goods and then refunded when the goods are reshipped as exports. drug see brand name drug; generic drug drawdown dry farming; dryland farming disminucion; reduction; giro; utilization cultivo de secano A system of producing crops in arid and semiarid drawdown of equity regions without the use of irrigation. Frequently utilizacion dd capital alternate years of fallow and cropping are practiced. dressing see basal dressing; surface dressing; top dressing; window dressing dryland farming see dry farming dressing section, hall [slaughtering] dryland(s) management section de evisceracion ordenacion de tierras aridas Area where excess fat and bone is removed from a The management of arid and semi-arid areas. meat carcass. dry process [cement manufacture] dribble irrigation see drip irrigation elaboracion, fabrication por via seca Method of manufacturing cement whereby no water is used in the process. Cf wet process 67 dual executive director director ejecutivo con doble funcilm (en el BIRF y el FMI) Executive director of both the World Bank and the International MonetaI)' Fund. dual-purpose cattle ganado de doble finalidad Cattle used both for beef and milk. dummy variable variable ficticia, artificial, simulada A constructed variable used as a means of including factors that are not naturally quantifiable in an econometric model. It may assume two and only two values (usually 1 and 0) used to represent the presence of a factor and its opposite or absence. dumping dumping dung cake torta de esth~rcol durable goods; durables bienes duraderos Any consumer good which has a significant life and which is not therefore immediately consumed. dust collector see precipitator dust separator see precipitator dutiable sujeto al cobro, al pago de derechos duty-free libre, exento de derechos duty station lugar de destino dwelling core nueleo habitacional; vivienda minima The basic shell of a building often constructed to allow family or self-help groups to have basic housing and add additional features themselves. dynamic life index [commodities] indice de vida dinamica Index in years of a commodity, assuming a specified growth in rate of production. 68 earthfill dam presa, represa de terraplen -E- Dam constructed of excavated earth material. earth resources satellite early intensive adjustment lending (EIAL) country satelite de exploracion de los recunos pais que recibio financiamiento para fines de terrestres; satelite para el estudio de los ajuste antes de 1986 recursos terrestres Country that received two structural adjustment One of a series of satellites designed primarily to loans or three adjustment operations, with the first measure the natural resources of the earth. taking place before 1986. earth road early (maturing) [crops] camino de tierra de maduracion temprana, precoz Unsurfaced road made entirely out of earth. early retirement scheme ease, monetary plan de jubilation anticipada relajacion moneta ria; flexibilidad monetaria Policy of reducing restrictions on the availability early warning system of money, e.g. by easing credit restrictions. sistema de alerta anticipada easy money earmark, to (funds) dinero barato, abundante consignar, destinar (rondos) para un fin A condition in which a combination of relatively determinado low interest rates and great credit availability exists. earmarked account cuenta reservada, especial economic and sector work - ESW estudios economicos y sectoriales earmarked tax impuesto para fines especificos economic hardship dificultades economicas earned income A reason for delaying Bank or !FC repayments. ingreso(s) proveniente(s) del trabajo; a veces: iogreso(s) salarial(es) economic indicator indicador economico earned surplus utitidades no distribuidas economic internal rate of return see economic rate of return earning assets activos productivos economic life Loans and investments. duracion, vida util earning power economic man rentabilidad; capacidad de obtention de homo economicus ingresos economic management earnings gestion economica, de la economia ingreso(s); ganancia(s); utilidad(es); remuneration economic performance comportamiento, desempeiio de la economia; resultados economicos 69 economic policy note [EDI] edit (texts for publication) nota sabre politica economica editar economic price~ efficiency price edited by precio economico; precio de eficiencia compilado por Price reflecting relative value to be assigned to inputs and outputs if the economy is to produce editor the maximum value of physical output efficiency. editor (de un teno); compilador (de una coleccion de textos); coordinador, encargado de economic rate of return - ERR.; economic internal una edicion; redactor jefe rate of return - EIRR tasa de rendimiento economico, de rentabilidad educational achievements economica resultados escolares; rendimiento escolar An internal rate of return based on economic prices. educational background antecedentes academicol; formacion economic recovery loan - ERL [World Bank] prestamo para recuperacion economica educational material material didactico economic rent renta economica effective see cost effective The return for the use of a factor of production in excess of the minimum required to provide the effective cut-off see operational cut-off service of the factor. The surplus remaining to a project beneficiary after he receives the rewards effective date necessary to attract physical inputs, labor, fecha de entrada en vigor entrepreneurship and the willingness to bear risk. effective exchange rate economic soundness [MIGA] tipo de cambio efectivo solvencia economica The domestic market price of a good divided by its One of the criteria used in assessing a project border price. In effect, the exchange rate actually before a guarantee is provided. paid for a given good. Serves as an estimate of the shadow exchange rate for that good. economics of regress (see also real effective exchange rate] economia del retroceso; aspectos economicos del retroceso effective interest rate The economics of negative growth. The opposite tipo, tasa de interes efectivo(a) of economics of progress. The true rate of interest paid on an installment loan. economies of scale economfas de escala effective protection coefficient - EPC coeficiente de protection efectiva economies of scope A measure of protection through import duties, economias de diversificacion etc. as related to domestic value added as opposed Cost advantage of producing different products in to total value of output. Commonly measured as a single firm. the excess value added. It measures the protection given to the production process per se, not just to edge bias the product. Often useful as a partial, quick sesgo (por exceso) de margen, de borde indicator of economic acceptability. In crop evaluations, inclusion of a plant on the edge of the square delineating the area to be effectiveness see conditions of effectiveness; cost measured, rather than excluding it, leading to an effectiveness upward bias. 70 effectiveness of an agreement the solids, thereby allowing smaller sewers to be entrada en vigor de un convenio laid at flatter gradients and with fewer manholes. effects method [project appraisal] 18% currency [mRD maintenance of value] metodo de los ereetos monto(s) del 18% (pagado(s) por un miembro A method of project evaluation originated by en su moneda) Charles Prou and Marc Chervel, widely used in The capital paid in to the Bank by a member French-speaking African countries, which involves country in its own currency. Members have to pay valuing the product and its tradeable inputs at in 20% of their initial shares, of which 2% is in shadow prices. A comparison is made between the gold and 18% in the national currency. This is the situation with the project and without the project. 18% currency. Though subsequent capital increases have required a lower national currency efficiency cost of taxation; excess burden of payment, this amount is still called 18% currency. taxation costo de eficiencia de (los impuestos) la 18% currency out on loan [mRD maintenance of tributacion; carga excesiva de Ja tributacion value] The difference between the resources that the montos del 18% en prestamo government gains and the sacrifice that is made by taxpayers. Egyptian cotton; kidney cotton; Sea Island cotton; West Indian cotton efficiency price see economic price algod6n de las Islas Occidentales; algodon de Barbados; algodon egipcio efficiency price; efficient price; long-run marginal cost - LRMC [electricity] elasticity of demand costo marginal a largo plazo elasticidad de Ja demanda The cost of meeting an increase in consumption, The percentage change induced in one factor of sustained indefinitely into the future, when needed demand divided by a given percentage change in capacity adjustments are possible. the factor that caused the change. For example, if the price of a commodity is raised, purchasers tend efficiency unit to reduce their buying rate. unidad de eficiencia elasticity of substitution efficiency wage elasticidad de sustituci6n salario de eficiencia A measure of the ease with which one input can Wages measured in cost per unit output rather be substituted for another when responding to a than in actual wages received or paid. change in the ratio of the prices of the s. For instance, given a production function, suppose that efficient price; efficiency price; long-run marginal the ratio of the return to capital to wages declined cost - LRMC [electricity] 1%, making labor relatively more expensive than costo marginal a largo pJazo capital. If the ratio of the amount of capital input to labor input used increases more than 10/0, the effluent charges elasticity of substitution is elastic, which implies cargos por efluentes; descarga de ef1uentes that it is relatively easy to substitute capital for Payment for direct releases into the environment. labor. [see also constant elasticity of substitution] effluent sewerage; solids-free sewerage; small-bore sewerage elastic money sistema de alcantarillado (alcantarillado) para dinero ellisticoinput ef1uentes liquidos The situation occurring in a monetary system in A hybrid between a septic tank and a conventional which the volume of currency in circulation can be sewerage system. Its distinctive feature is a solid varied to meet different needs. interceptor tank located between the house sewer and the street sewer. The interceptor tank retains 71 electronic funds transfer - EFf emergency reconstruction loan - ERL transferencia electrOnica de fondos prestamo para reconstl1lccion de emergencia eligibility; eligibility conditions emergency recovery loan - ERL habilitacion; requisitos, condiciones que deben prestamo de emergencia para recuperacion cumplirse emerging markets [securities] eligibility ceiling see formal eligibility threshold mereados emergentes, incipientes eligibility to bid eminent domain elegibilidad para participar en una licitaciOn dominio eminente; derecho de expropiacion The power to take private property for public use eligibility threshold see formal eligibility threshold by the state, municipalities and private persons or corporations authorized to exercise functions of a eligible [procurement] public nature. elegible emissions trading eligible currency intereambio de derechos de emision, moneda admisible contaminacion Pollution dischargers who release less pollution eligible expenses than the officially approved limit may sell or trade gastos admisibles, aceptables, financiables the difference between its discharges and the authorized limits to another firm which can then eligible host country [MIGA] increase its amount of discharge. pais receptor elegible A member who is listed as a developing member empower country in Schedule A to the Convention. dar participacion; dotar de los medios; responsabilizar; dar poder de decision eligible investment [MIGA] inversion admisible empowerment Investment accepted for coverage under the habilitaciOn; promocion de la autonomia; Convention. Includes equity interests, including potenciacion medium- or long-term loans made or guaranteed Giving political power to disadvantaged groups. by holders of equity in the enterprise concerned. e.g. women, children. and such forms of direct investment as may be determined by the Board enabling environment entomo, ambiente, cUma propicio. favorable; eligible paper condiciones propicias, favorables efectos, valores negociables Paper than can be freely traded on the market enabling legislation ley(es) que autoriza(n); autorization legislativa eligible risk riesgo admisible encashment [IDA] conversion en efectivo eligible source country The conversion of notes and other securities paid pais de origen calificado in by member countries to IDA into cash. embodiment hypothesis enclave project hipotesis del progreso teenico incorporado proyecto enclave Economic theory which states that investments in Project designed and supervised by foreign new capital equipment embody technical change. consultants, executed by foreign contractors and suppliers and managed with the help of expatriates. 72 end-of-mission document energy cropping in(onne de fin de mision cultivos para fines energeticos The growth of plants to be used for energy needs end of pipe pollution control (i.e. wood, oil-bearing plants). control de la contaminacion en la descarga Control of pollution where it is discharged rather energy-efficient than in the production cycle. eficaz en el uso de la energia end use (of a commodity) energy-intensive uso final de uso intensivo de energia end use (energy) efficiency energy lending eficiencia del uso final de la energia financiamiento para energia end use tax engender impuesto seglin uso final considerar (una cuestion) desde el punto de vista de los roles del homhre y la mujer energy see also alternative energy; biomass Considering issues from the point of view of energy; commercial energy; constant energy gender, relations between the sexes. intensity; conventiona1 energy; net energy ratio engineered road energy affiliate camino trazado tecnicamente organismo de energia afiliado aI Banco; A planned earth road. organismo afiliado de energia Proposed organization, subsidiary of the World engineering see also design; design engineering; Bank, dea1ing with lending for energy. Never detailed design, engineering; environmental actua1ly set up. engineering; financial engineering; heavy (engineering) industry; preliminary design, energy assessment engineering evaluacion de recursos energeticos engineering consultant energy audit ingeniero consultor estudio de recursos energeticos [de un pais]; namen del uso de la energia; balance de engineering design energia diseiio tt~cnico A survey of energy usage in a system or organization and an examination of how energy engineering development may be used more economica1ly. desarrollo tecnico energy cascading engineering industry utilizaci6n escalon ada de energia industria tecnica, mecaDica, metalmecanica The utilization of energy, otherwise wasted, in the performance of work matched to the engineering, preliminary characteristics of the energy, e.g. the use of waste diseiio tecnico preliminar heat from an industrial process for a variety of purposes in sequence, performing work at a lower engineering-related technical assistance; hard temperature at each stage. The sequence may technical assistance include air heating, steam raising and water asistencia tecnica relacionada con los heating. componentes fisicos; asistencia tecnica relacionada con las inversiones en activos fisicos energy conservation Technical assistance geared towards engineering conservacion, ahorro de energia projects as opposed to institution-related technical assistance. 73 engineering studies advise on projects involving large dams. Normally estudios teenicos, de ingenieria required for Bank large dam projects. enhance new debt, to environmental assessment - EA mejorar las condiciones de la nueva deuda evaluacion ambiental An intensive examination that is required for enhanced recovery [oil] lending operation that have diverse and significant recuperacion mejorada environmental impacts. Increased recovery from a reservoir achieved by artificial means or by the application of energy environmental audit extrinsic to the reservoir. auditoria ambiental Detailed study of the environmental problems of enrollment ratio an area or industrial plant. tasa de matricula; coeficiente de matricula Ratio of pupils enrolled to total school age environmental degradation population. deterioro, degradacion ambiental [see also gross (primary) enrollment ratio] Deterioration in the environment. Includes pathogens in the environment, indoor air enrollments pollution, substandard housing and extensive matricula; numero de a1umnos matriculados industrialization. entrepOt trade environmental engineering comercio de reexportacion ingenieria ambiental, del medio ambiente; The re-export trade of a country. ingenieria ecologica entrepreneur environmental enhancement empresario mejoramiento ambiental Improvement to the environment. Used by the entrepreneurial benefit-cost ratio - EBC Bank to refer to improvement to the environment relacion costos-beneficios empresariales, de las as an indirect effect of a project. empresas environmental goods and services entrepreneurship bienes y servicios ecologicos, para la proteccion capacidad, espiritu empresarial ambiental Goods and services provided for environmental entries see accounting entries protection purposes. entry level environmental health, sanitation nivel de ingreso higiene ambiental; saneamiento ambiental environment satellite accounts environmental hotspot cuentas subsidiarias del medio ambiente zona de singular riqueza ecologica Subsidiary national account for the environmental Area on the Earth where there is a considerable sector. and often unique species diversity. environmental action plan· EAP environmental impact assessment - EIA plan de proteccion ambiental evaluacion del impacto ambiental; evaluacion de los efectos ambientales environmental (advisory) panel Evaluation of the effect of a project on the grupo de evaluacion ambiental environment. An advisory panel of independent, internationally· recognized, environmental specialists, formed to environmental management plan see mitigation plan 74 environmental reconnaissance environmentally adjusted income - EAI examen (ambiental) sobre el terreno ingreso ajustado conforme a consideraciones Bank mandated study, carried out by independent, ambientales recognized experts during project identification, to ensure that potential environmental effects are environmentally adjusted national income - ENI identified, ascertain the scope of further ingreso nadonal ajustado conforme a environmental studies and action needed, assess consideraciones ambientales - JNA the availability of the borrower to undertake them and advise on the need for an environmental epidemic disease [livestock] panel. epizootia environmental review equalization fund estudio de los deetos ambientales fondo de igualadon, de equiparadon The whole process by which the Bank monitors Funds made available by a national government to the environmental effects of projects. It may subnational or local governments to reduce the involve fuIlscale environmental assessment or only degree of inequality in the levels of revenue raised limited analysis. It starts with screening at by the local governments. identification and continues through evaluation after the last disbursement. equalizing discount rate see cross-over discount rate environmental screening estudio (ambiental) preliminar equalizing rate of return tasa de rentabilidad de equilibrio environmental services The rate of return that equalizes the present beneficios eeologicos value of two streams of costs. Used to compare two Functions performed naturally by forests, such as or more different project alternatives. maintenance of waterflow patterns, protection of soil, support of economically important living equilibrating capital flow resources and regulation of climate. corriente de capital equilibradora environmental stress equilibrium climate change tension, estres ambiental; perturbaciones del cambio climatico de equilibrio medio ambiente The change which would occur once all the lags in the climate system have worked through the environmental sustainability system, which may take decades or centuries. cr. sostenibilidad ambiental transient climate change. environmentalist equilibrium exchange rate ecologistas; expertos en medio ambiente tipo de cambio de equilibrio The exchange rate when offer and demand are environmentally adjusted domestic product - EDP equally balanced. producto intemo ajustado conforme a consideraciones ambientales - PIA equilibrium income ingreso(s) de equilibrio environmentally adjusted economic accounts - EEA equilibrium model see computable general cuentas economicas ajustadas conforme a equilibrium model consideraciones ambientales 75 equilibrium real exchange rate equity grant tipo de cambio real de equilibrio donacion en capital The price of tradables relative to non-tradables that, for given long-term equilibrium (or equity-like instrument sustainable) values of other relevant variables such instrumento financiero con caracteristicas as trade taxes, international prices, capital and aid patrimoniales flows and technology, leads to the simultaneous A loan structured in such a way that it can be attainment of internal and external equilibrium converted into equity. An example is an income and is compatible with long-term economic note that acts as equity, i.e. it bears interest only if growth. the project generates interest. This means it has the form of equity (cr. stocks where income is equipment generated only if the company pays a dividend). equipo(s); material (de transporte) An example of the use of this type of instrument is in high-risk countries where an equity investment equipment grant would be lost at once but an equity-like donacion en, para equipos instrument, if dollar-denominated, would guarantee the capital and ensure income if the equity project produced income. capital (social, accionario); patrimonio (neto); acciones; equidad equity line [IFC] [see also capital; deadwood equities; debt-equity linea de capital accionario conversion fund; debt-equity conversion, swap; Credit line (also known as agency line) quasi-equity; real estate equity; stockholders' established in favor of an intermediary which equity] would draw on the line to make loan and equity investments for IFe's account. equity; common share [stock exchange] accion ordinaria equity loan prestamo en forma de participacion en el equity capital; capital stock (of a corporation) capital capital social, accionario Loan in the form of equity participation. The issued share capital which is neither limited nor preferred in its participation in the distribution equity ownership of its profits nor in the ultimate distribution of its participacion en el capital social assets. Equity capital is sometimes used as a An interest in a property. synonym for stockholders' equity. equity portfolio fund equity feature [IFC] fondo de inversiones de cartera opcion a participar en el capital social; prestamo convertible en acciones de capital equity ratio [CFIJ relacion capital-activo IFe loan which has a feature enabling it to be Ratio of assets to net worth. converted into an equity participation. equity security equity financing, investment certificado de participacion inversion, participacion en (el) capital social A certificate that designates a proportional Investment that confers whole or partial ownership ownership in a corporation. Includes rights, in an enterprise and entitles the investor to share warrants and long call options. in the profits from its operation. equity subscription [IFC] equity fund suscripcion de capital social, de capital fondo de inversion en acciones accionario Money market fund investing in equity stocks. The purchase of shares in IFe by member countries. 76 equity-type loan; sponsored loan estimates of quantities see preliminary estimates of credito de accionistas, de participacion quantities Loan made by equity holders of the borrower. establishment convention; base convention equity underwriting convenio buico compromiso de suscripcion de aceiones Basic agreement used in financing a major project. Underwriting (i.e. finding buyers for a security issue) a share issue. This technique has been used Eurobonds by IFC, e.g. for the Korea Fund, a diversified eurobonos closed-end investment company investing in Korean securities, that plans to offer its shares in Eurocurrency market the U.S. and other markets with IFC as one of the mereado de eurodivisas colead managers. Euroissues escalation see price adjustment clause; tariff euroemisiones escalation European Currency Unit - ECU escalation clause [prices] unidad monetaria europea - ECU c1ausula de reajuste (de los precios) A standard unit of account of European Clause in a contract which allows for prices to Community member countries. increase as certain specified items, e.g. labor costs, increase. European flotations [see also price adjustment clause] emisiones (de obUgaciones) en Europa escalator clause [wages] Eurosterling chiusula de escala movil euroesterlina Clauses in labor agreements providing for automatic wage increases based on movements in evacuation road a specific price index. camino de salida escape clause; break clause; jeopardy clause evaluated portfolio [IFC] clausula de salvaguardia, de elusion, de escape valor estimado de la cartera A clause in a Eurocurrency agreement specifying That part of the disbursed portfolio in companies that, if certain events curtail the lender's activity or which have a sufficient operating history for a the operation of the Euromarkets, other designated reasonable review of their creditworthiness or actions will come into effect. profit potential. escrow evaluation [projects] deposito en garaniia, en custodia evaluacion ex post A writing, deed, money, stock or other property delivered by the grantor, promisor or obligor into Evaluation Capability Development Program - the hands of a third person, to be held by the latter ECDP [ffiRD] until the happening of a contingency or Program a de Desarrollo de la Capacidad de performance of a condition and then by him Evaluacion Ex Post delivered to the grantee, promisee or obligee. evaluation mission; audit mission escrow account mision de evaluacion ex post deposito en custodia Account to set aside a sum of money for a specific evidence [ICSID] purpose, e.g. loan repayment. prueba; medio de prueba 77 examination (of witnesses or experts) [ICSID] exchange arbitrage interrogatorio; examen arbitraje de cambios examination of bids exchange budget anaIisis de las ofertas presupuesto de divisas examiner see bank examiner exchange control regulations disposiciones de control de cambios ex ante evaluation evaluacion previa, ex ante exchange cost costa en divisas ex ante financing gap brecha financiera ex ante exchange discount Used by the IMF to denote a gap between the descuento cambiario; perdida cambiaria funds they need and the funds they have available at the start of a program of financing. exchange equalization account cuenta de igualacion de tipos de cambio excellence center [education] An account to stabilize the exchange value of the centro de excelencia domestic currency by preventing excessive Training and research institutions for the training depreciation or appreciation. Used primarily in the of highly qualified personnel and for undertaking United Kingdom. research in scientific disciplines. exchange market see foreign exchange market excepted period periodo exceptuado exchange premium Period that does not count as laytime even if prima, ganancia cambiaria loading or discharging is carried out. exchange rate differential excepted risks diferencia(s) de tipos de cambio riesgos no cubiertos Risks excluded from insurance under a contract. exchange rate overvaluation These often include war, revolution and similar sobrevaloracion de las monedas acts of violence, as well as explosions, damage caused by radioactivity or aircraft and similar exchange rate policy damage. politica cambiaria excess burden of taxation see efficiency cost of exchange risk taxation riesgo cambiario excess capacity exchange stabilization fund excedente de capacidad; capacidad fondo de estabilizacion cambiaria excedentaria A fund set up to stabilize the value of the domestic currency. Used primarily in the US. exchange see foreign currency, exchange exchange system exchange adjustment regimen, sistema cambiario ajuste cambiario excise tax exchange allocation impuesto aI consumo asignacion de divisas 78 exclusive economic zone - EEZ exit bond zona de soberanfa economica bono de exclusion The area beyond and adjacent to the territorial sea Instruments issued by a debtor country to a over which the coastal state has sovereign rights creditor bank in place of a bank credit, that allows for the purpose of exploring, exploiting, the creditor bank to be exempted from future conserving and managing the natural resources of requests for new money and restructuring. Used the bed, subsoil and supeIjacent waters and with by Argentina and the Philippines (with its regard to other activities for the economic Philippines Investment Notes - PIN). exploitation and exploration of the zone as well as jurisdiction with regard to marine scientific exit mechanism research and the preseIVation of the marine mecanismo de opciones environment. It should not exceed 200 miles. Procedures to allow users of a seIVice to use alternative services. In public sector management, execute an agreement, to these include deregulation, contracting out of celebrar, firmar un convenio, un acuerdo seIVices to multiple private providers and competition between the public and private executing agency [UNDP] sectors. The basic concept was developed by Albert organismo de ejecucion Hirschman in Exit, Voice and Loyalty and adapted Organization that implements a project on behalf by Samuel Paul to the issue of accountability. of another. exit value see current exit value Executive Board; Board of (Executive) Directors [IBRD; IDA] ex-officio [ICSID] Directorio Ejecutivo ex officio Executive Director expansionary policy Director Ejecutivo politica expansionista executive summary expatriate resumen expatriado ex factory price; price ex factory; factory gate price expectation [mathematics] see expected value precio en fabrica The manufacturing cost excluding cost of expected value distribution. valor esperado The mean value of single obseIVations drawn from exhaustion of local administrative or juridical a finite or infinite universe in repeated samplings. remedies [ICSID] (exigir) el agotamiento previo de las vias expendable equipment administrativas 0 judiciales (de un Estado) material fungible existence value expenditure-switching valor intrinseco; valor de existencia reorientacion del gasto Value of keeping something (e.g. a species of plant One of the policy alternatives necessary to remove or animal) even when no benefit is expected to be an international trade imbalance. Examples are derived from keeping it, now or in the future. devaluation and import restrictions which are intended to encourage domestic output and also exit barrier foreign expenditure on domestic output. obstaculo a la salida del mercado Legal mechanism that prevents from leaving a expense, to; to write down market (e.g. liquidating or merging a firm), often castigar; rebajar el valor en Iibros; amortizar designed to protect workers from unemployment parcialmente or to conseIVe scarce capital resources. 79 expert appraisal and the project boundary and the point where the tasacion, avaluo pericial; peritaje cif or fob price is quoted. expertise export processing zone - EPZ conocimientos especializados; pericia; expertos zona franca industrial An industrial area forming an enclave in the explanatory variable; predictor; predicated, customs area of a country (generally near a port or independent variable; fixed variate; regressor airport). [statistics] variable independiente, predictiva export rehabilitation project - ERP [mRD] proyecto de rehabilitacion del sector (explicitly) collusive oligopoly exportador. de exportacion oligopolio colusorio expUcito; cartel Project geared towards improving the export An oligopoly where participants act as a cartel. performance of a country. export adjustment loan - EAL export shortfall prestamo para ajuste del sector exportador. de insuficiencia de las exportaciones; insuficiencia exportacion de los ingresos de exportacion Loan made by the World Bank to assist a country to adjust its export sector. export subsidy subvencion, subsidio a las exportaciones export credit credito de exportacion, a la exportacion exports of goods and services - XGS exportaciones de bienes y servicios export development fund - EDF rondo para el fomento de las exportaciones ex post cofinancing A self-sustaining revolving fund set up to cofinanciamiento ex post recapture the foreign exchange advanced within a Cofinancing after tbe initial loan has been made, specific period, typically 120-360 days, for use e.g. by selling part of the loan. again by eligible beneficiaries. It provides mechanisms to give access to exporters to foreign ex post evaluation exchange for the purchase of intermediate inputs. evaluacion ex post, a posteriori The Bank has made loans for these funds as part The process whereby the Bank, and in some of its Program of Special Assistance. instances, an agency of the government, shortly after completion of project implementation and export earnings. proceeds disbursements of the proceeds of the loan, review ingresos de exportacion comprehensively the extent to which the objectives and expectations of the project, on the basis of export-enclave economy which the Bank loan was approved, have been or economia dependiente de la exportacion de un show promise of being achieved. solo producto Economy which is geared towards the export of ex post real interest rate one commodity only (e.g. oil). tipo de interes real ex post The actual real interest rate. export-oriented orientado hacia la exportacion exposure riesgo; prestamos pendientes; participation en export parity price una inversion; compromisos neros precio paritario de exportacion Amount of investment made, with the additional The estimated price at the farm gate or project idea of risk. These translations are proposed. The boundary derived by adjusting the cif or fob price translation will often depend on the context. by all the relevant charges between the farm gate [see also bank exposure; co-exposure; country exposure] 80 exposure diversification external payment position diversificacion de los riesgos situacion de palOs extemos ex quay (duties on buyers' account) external review mission en el muelle (derecbos por cuenta del mision de examen extemo comprador) Applies to goods that the seller makes available to external viability the buyer on the quay at the destination named in viabilidad de la balanza de pagos the sales contract. The seller bears the full cost and risk involved in bringing the goods to this externalities [projects] destination, except for the liability for clearing the dectos extemos; extemalidades {proyectos] goods for import, which is the responsibility of the Costs and benefits of development projects which buyer. do not get captured by the market mechanism, e.g. revulsion caused by bad taste advertising, garbage extended family dumped on the outskirts of a city and poor familia extensa performance of sanitary services. extended payment plan extra long staple cotton venta a plazos algodon de fibra extra larga Cotton with fibers of 1 3/8 inches long or more. extender [gasoline] aditivo (que aumenta la cantidad) extraordinary budget; special budget presupuesto extraordinario extension [agriculture] extension; divulgacion extension [building] ampliacion extension agent, worker agente de extension, de divulgacion agricola; extensionista Low-level staff providing assistance and advice to farmers. [see also field-level extension worker] extension officer oficial de extension, de divulgacion agricola A higher-level staff member providing assistance and advice to farmers. [see also agricultural extension officer] external current account deficit deficit de la balanza en cuenta corriente external debt outstanding deuda extema pendiente external debt reporting system sistema de notificacion de la deuda extema 81 fair price shop puesto de venta de productos subvencionados -F- fallacy of composition falacia de composicion face value A wrong conclusion reached by taking a known valor nominal fact about individuals and projecting it to apply to the entire population. facility mecanismo; servicio; instalacion; medios family planning planificacion familiar, de la familia fact sheet datos basicos farm explotacion agricola; granja; finca factor cost, at - f.c. aI costo de los facto res farm budget presupuesto de la explotacion agricola factor income ingresos de los factores farm forestry Income derived directly from the current agrosilvicultura production of goods and services. There are Forestry carried out on private farmlands. normally four main categories: rent; wages and salaries; interest and profits. farm gate price precio a nivel de la explotacion agricola factor income payments pagos en concepto de ingresos de los facto res farm income ingreso(s) agricola(s) factor price precio de los factores farmer-pull innovations The price of a factor of production (e.g. land, labor innovaciones inducidas por eI agricultor and capital). farming system factoring sistema de explotacion agricola factoraje The purchase of trade debts, usually without farming systems research - FSR recourse. investigacion sobre sistemas de produccion agricola factory farming agricultura industrial farming techniques metodos, tecnicas de cultivo factory gate price see ex factory price farming unit facultative reinsurance unidad agricola, de explotacion agricola reaseguro facultativo Reinsurance of a specific risk. Cf. treaty fast disbursing (loan); quick disbursing (loan) reinsurance. (prestamo) de rapido desembolso fair market value valor justo, equitativo de mercado 82 fast -track procedures feed grains negociaciones por via expedita cereales forrajeros Procedures designed to facilitate negotiation of complex trade agreements. They give the president feed unit authority to conclude such agreements and submit unidad forrajera them to Congress for approval or disapproval One pound of com or its equivalent in feed value without amendment. Used by the Bush in other feeds which is fed to cattle under normal administration in the 1990-1991 Uruguay Round farm conditions. negotiations. feedback (of information) feasibility study retroaccion; informacion obtenida; estudio de factibilidad, de viabilidad retroinformacion fecundity feedback loop fertilidad circuito de informacion fee see availability fee; backup facility fee; feeder road commitment charge, fee; cost plus ftxed fee camino de acceso, secundario, vecinal contract; cost plus percentage fee contract; front- end fee; guarantee commission, fee; harbor fees; feeder school; contributory school; preparatory loan origination fee; management fee; percentage school (fee) contract; service and support fee; stumpage eseuela preparatoria fee; tuition fees; zero fee policy School where students go on to a speciftc higher- level school, for which it is the feeder. fee-based service [!FC] servicio a cambio del pago de honorarios feedlot Services provided by IFC for which IFC charges a corral de engorde fee. Includes such services as technical assistance, advice on privatization, corporate strategies, feedstock ftnancial risk management, project structuring, materiales basicos; materiu basicu setting up capital markets, etc. Substance (e.g. gas) used as raw material for its chemical properties in creating an end product. fee for lodging requests [ICSID] cargo por presentacion de solicitudes fellow [EDI] ex participante fee-for-services basis sistema de honorarios por servicios fertility rate tasa de fecundidad feed balance; feed estimate Births per thousand, usually related to individuals balance forrajero of same sex, age, marital status, etc. feed conversion ratio ftber crop andice de aprovechamiento del forraje planta tenil Ratio which makes it possible to evaluate feed efficiency. Obtained from the amount of product fteld see coal fteld obtained per kilo of feed given to the animal (Le. daily average proftt/feed). fteld agent agente en el terreno feed estimate; feed balance balance forrajero fteld assignment, mission mision en el terreno, de observation en el terreno 83 field crop final design cultivo; cultivo extensivo pianos definitivos field-level extension worker final design quantities agente de extension a nivel de poblado cantidades para los pianos definitivos field mission, assignment final energy; secondary energy mision en el terreno, de observacion en el energia final, secunda ria terreno finance lease; financial, full payout lease field office contrato de arrendamiento con opcion de oficina exterior, fuera de la sede compra; leasing; arrendamiento financiero A lease involving payment over an obligatory field seeds period of specified sums sufficient in total to semillas, simientes de campo amortize the capital outlay of the lessor and give The seed of field crops, as contrasted with some profit. In other words, the lessee pays the full vegetable and flower seeds. value of the asset. field staff finance plan personal de las ofieinas exteriores, fuera de la plan finaneiero sede; personal en el terreno financial adjustment field trip ajuste, reajuste financiero viaje de observaeion, estudio, etc. financial claim field unit [agricultural extension] titulo de credito; acreencia; activo financiero unidad de extension (agricola) financial claims of government field work uso de recursos por el gobiemo trabajo en el terreno financial contingency field worker imprevistos finaneieros funcionario destacado en el terreno financial credit Fifth Dimension Program credito financiero programa de "quinta dimensi6n" World Bank program whereby the Bank provides financial deepening additional IDA allocations to IDA-ooly countries intensification financiera that have outstanding mRD debt, are current on Acquisition of financial assets at a faster rate than their debt service to the Bank and have an IDA- nonfinancial assets. support adjustment program. financial distress filing of claims [MIGA] dificultades financieras graves presentaeion de reclamacioncs Submitting appropriate documentation to support a financial engineering claim for a covered loss. tecnicas financieras; ingenieria finaneiera [Mexico] fill ratio [staff] Application of innovative techniques in major coeficiente de ocupacion de cargos, puestos national and corporate workouts. Percentage of positions in an organization that are filled. 84 financial expenses coverage ratio financial replicability coeficiente de cobertura del gasto financiero posibilidad de repetici6n financiera Net income plus non-cash charges plus interest Full recovery of the financial costs of the project payments divided by interest payments plus entity. current portion of long-term debt. financial repression financial flows represion financiera Aujos financieros; conientes financieras Distortion in the financial system, with negative interest rates, subsidy interest rates to some privi- financial futures leged borrowers, selective credit allocation, and futuros financieros excessive bureaucratic control over the financial system. financial intermediary loan - FIL pristamo a un intermediario financiero financial restraint, stringency World Bank loan to a financial intermediary, such austeridad, moderacion financiera as a central bank. financial spread financial internal rate of return see financial rate margen financiero of return Income from loans and investments minus cost of borrowing. financial intrinsics situaci6n financiera financial standing see creditworthiness An alternative word for financial position. financial statement financial lease see finance lease estado financiero A balance sheet, income statement, funds financial leverage see leverage statement or any supporting statement or other presentation of financial data derived from financial package accounting records. serie, conjunto de medidas financieras; paquete financiero financial year; fiscal year ejercicio (economico) financial paper efectos, valores financieros financialization Commercial paper issued by financial institutions. financializacion The holding of assets (e.g. savings) in financial financial pedormance, results form (e.g. bills, bonds, cash) as opposed to in the actuacion financiera; resultado(s) financiero(s) form of fixed assets (e.g. gold, real property), financial plan financing gap plan financiero deficit de financiamento financial rate of return; internal rate of financial financing package return; financial internal rate of return - FIRR financiamiento; a veces: plan de financiamiento tasa de rendimiento financiero, de rentabilidad financiera financing plan The internal rate of return based on financial or plan de financiamiento market prices. fineness (of a precious metal) financial ratios ley (de un metal precioso) relaciones rmancieras 85 fine tuning (of the economy) 1. Reduction in real income due to the increase afinamiento (de la economia) in income from inflation, resulting in income earners being placed in higher tax brackets. firm bid rule 2. Action by public financial authorities with nonna de oferta finne regard to economic activity. Principle that a bid is irrevocable for a reasonable time after bid opening. fiscal gap deficit fiscal first in, first out - FIFO salida en el orden de adquisicion, fabricacion, fiscal policy etc. politica fiscal [see also last in, first out] fiscal revenue first-loss deductible [insurance] ingresos fiscales, tributarios franquicia correspondiente a la primera perdida fiscal transparency transparencia fiscal first ranking security Refers to the situation whereby certain partners garantla de primer grado and associates in certain companies are deemed to be the same as the company for taxation purposes. first refusal right; preemptive right Used in France. derecho prioritario, preferencial, de preferencia, de prelacion fiscal year; financial year Right to have the first opportunity to purchase real ejercicio (economico) estate when such becomes available, or right to meet any other offer. fishing by lamplight; lamplight fishing pesca con luz artificial, aI encandilado first year rule - FYR [project analysis] regia del primer aDo five day biochemical oxygen demand see A method of determining when to start a project. biochemical oxygen demand over five days - Two time streams of costs and benefits (using one- BOD5 year intervals of discounting) are subtracted. The project should be delayed by one year if the net fixed assets see capital assets present value of this figure is negative. fixed capital see capital assets fiscal agent agente financiero fixed cost contract; fixed price contract A bank appointed by the borrower as its agent for contrato a precio fijo a new issue of securities when no trustee has been appointed. Its functions include those of a fixed costs principal paying agent and a number of the costos, gastos fijos clerical functions but none of the fiduciary responsibilities of a trustee. fixed investment inversion en capital fijo fiscal balance equilibrio fiscal, del presupuesto fixed price contract; fixed cost contract A balance between the receipts and expenditures contrato a precio fijo of a government (not just taxes). fixed-rate financing fiscal drag financiamiento con tipo de interes fijo lutre fiscal; remora fiscal; freno fiscal 86 fixed rate matched funding loan flexibility quotient prestamo de contrapartida con tasa fija cociente de flexibilidad One of two types of fixed rate loans made by the Number of redeployable staff resources as a Bank to IFC, involving amounts in various percentage of the total workforce. currencies from which currency-specific tranches are established to fund new fixed rate IFC loans on flexitime; flextime a back-to-back basis. borario flexible fixed term appointment flight capital nombramiento de plazo fijo capital fugado fixed term contract flight of capital; capital flight contrato de plazo fijo fuga de capitales fixed term staff flip chart personal contratado a plazo fijo rotafolio fixed variate; predictor float [banking] variable independiente, predictiva efectos en cobro, cobraoza Checks, drafts, etc., in the process of collection. fixing see price fixing float a loan, to flag of convenience; open registry flag obtener un emprestito; lanzar una emision de bandera de conveniencia, de favor bonos flagship product floating capital producto, publicacion estrella capital tirculante, flotante Used to describe key publications, summarizing That portion of the capital of an enterprise not Bank policy in a major area, e.g. poverty, invested in fixed or other capital assets but in adjustment, health in Africa. current and working assets. flagship project floating cash reserve proyecto puntero, de punta reserva flotante en efectivo; encaje (ireulante, Project used to promote development in a key area, flotante e.g. environment, women in development. floating rate flat budget tipo de cambio flotante presupuesto igual, sin cambio, sin aumento Budget which shows no increase over previous floating rate bond budget period. bono con interes variable, flotante Bond on which the coupon is established flat rate periodically and calculated with reference to tasa, tarifa unifonne, a tanto alzado short-term interest rates. flattening out floating rate note aplanamiento de una curva; nivelacion pagare con interes variable, flotante Note issued from five to fifteen years with a fixed fleet [transportation] spread, usually over the six month London Inter- flota; parque bank Offered Rate (LIB OR), normally with provision for a minimum interest rate. Primarily used by banks to raise dollars for their Euromarket operations. 87 floating rice floor return arroz flotante rendimiento minimo The amount of annual investment income flock management~ herd management projected at the beginning of the fiscal year for the manejo de rebaiios Bank. flood control irrigation flotation [bonds] riego por anegacion controlada emision flooded rice flotation costs [bonds] arroz acuatico gastos de emision flood irrigation; spate irrigation flow see capital flow; capital inflow; cash flow; riego por inundacion cash inflows; concessional flow; discounted cash A method of irrigation in which water is made to flow; equilibrating capital flow; financial flows; cover the surface of the land to a considerable funds flows; inflow of capital; nonconcessional depth and remains for a considerable period, after flows; official flows; other official flows; student which so much of it as has not soaked in is drawn flow off, leaving the land ready for the growing of crops. flow chart; process chart grafico de circulacion; diagrama de flooding see controlled flooding movimiento, de flujo, de produccion, de secuencia, de procedimiento floodplain A graph or chart that illustrates the movement of lIanura inundada, de inundacion; terreno money, credit, goods or some other economic aluvial, de a1uvion element through various stages. In computer terminology it is a diagram of the processing of a floodplain agriculture, cultivation problem in a computer by means of symbols and agricultura, cultivo en tierras de aluvion lines to show either the logic and sequence of specific program operations or a system of flood recession crop processing to achieve certain objectives. cultivo de decrecida Crop planted on land which has recently been flow meter; flowmeter flooded. caudalimetro A meter that indicates the rate of flow of water. floodway; high-flow diversion canal de derivacion flow of funds see funds flow Natural or man-made bypass channels or conduits that redirect flood waters around or away from fluidized bed combustion urban centers or area of high population density. combustion en lecho fluidizado A method of burning particulate fuel such as coal floor price in which the amount of air required for precio minimo combustion far exceeds that found in conventional Usually established by the government, the burners. The fuel particles are continually fed into smallest price that a seller is allowed to charge. a bed of mineral ash in the proportions of 1 part fuel to 200 parts ash, while a flow of air passes up floor rate of exchange through the bed, causing it to act like a turbulent tipo de cambio minimo fluid. The minimum rate of exchange. focus group reuniones de grupos de representantes de los interesados; grupo muestra elegido 88 focusing effect food production efedo de concentracion produccion alimentaria, de alimentos In crop estimations, the effect of selecting one specific part of a field over another. In most cases, food security the tendency is to select the center part of the field, seguridad alimentaria where crop density is likely to be higher, thereby The availability of adequate food supplies for a leading to an upward bias in the estimates. target population. follow-up foodstuffs seguimiento; complemento; etc. productos alimentarios follow-up financing footloose industry financiamiento complementario industria no localizada, sin vinculacion permanente follow-up project Industry not bound to particular location by proyecto complementario specific locational requirements and thus can effectively locate anywhere. food crop cultivo alimentario forage tree arbol forrajero food demand program A tree whose leaves are used for forage. programa de demanda de alimentos forage unit food-for-work programme unidad forrajera programa de alimentos por trabajo Unit of measurement of the energy input of A programme set up under the World Food feedstuffs based on the net energy value of lkg of Programme where food is provided as barley. part-payment to men and women engaged in community improvement programmes. force account, by/on [US]; direct labour [UK]; direct work; departmental forces food grains por administracion cereales, granos alimentarios Used to describe a situation whereby the owner of a project uses his own labor force to undertake the food import dependency ratio project, rather than hiring contractors. coeficiente de dependencia de la importacion de aUmentos forced investment The ratio of food imports to the food available for inversion forzosa internal distribution, i.e. the sum of food A requirement placed on a commercial bank production, plus food imports, minus food exports. (usually in a developing country) that it make specific investments (e.g. x % of its portfolio must food intake be agricultural investments), sometimes at a ingesta, ingestion de alimentos; alimentos specific rate. ingeridos forced sale value see liquidation value food plant planta alimentaria forced savings ahorro forzoso Food Price Index [IBRD] Indice de precios de los alimentos foreclosure ejecucion (de una bipoteca); juicio bipotecario food processing industry industria de elaboration de alimentos foregone output see forgone output 89 foreign assets foreign tax credit activos en el exterior, activos sobre el exterior cn!dito por pago de impuestos en el extranjero foreign borrowing foreign trade emprestitos en el exterior comercio exterior foreign capital (official, private) forest canopy capital extranjero, externo (oficial, privado) cubierta, dosel forestal foreign currency, exchange forest fallow divisas; moneda extranjera barbecbo forestal All complexes of woody vegetation derived from foreign currency issue the clearing of natural forest for shifting emision en divisas agriculture. It consists of a mosaic of various reconstitution phases and includes patches of foreign exchange auction uncleared forests and agriculture fields which subasta de divisas cannot be realistically segregated and accounted Auction of foreign currency, as used in some area-wise, especially from satellite imagery. Forest developing countries, whereby the price obtained fallow is an intermediate class between forest and for the foreign currency at the auction is the rate of non-forest land uses. Part of the area which is not exchange applied till the next auction. under cultivation may have the appearance of a secondary forest. Even the part currently under foreign exchange component cultivation sometimes has the appearance of forest, elemento, componente en divisas due to presence of tree cover. Accurate separation between forest and forest fallow may not always be foreign exchange cost possible. costo en divisas forest mining see tree mining foreign exchange coverage fund fondo de cobertura del riesgo cambiario forfaiting forfetizacion foreign exchange market The business of discounting medium-term mercado de divisas, de cambios promissory notes or drafts related to an international trade transaction. Repayments are foreign exchange position semiannual and discounting is at a fixed rate. situacion en materia de reservas de divisas forgiveness (of a debt) foreign exchange reserves condonacion reservas de divisas forgone output; foregone output foreign exchange resources production a que se renuncia recursos en divisas The use of an input (e.g. labor) in a project which is thereby prevented from being used elsewhere. foreign exchange risk riesgo cambiario form ofbid, tender modelo de (presentacion de) ofertas foreign-owned de propiedad extranjera form of contract modelo de contrato foreign price precio en el exterior 90 formal adherence process of transforming raw materials into final adhesion oficial goods. formal credit forward linkage of an industry credito institucional eslabonamiento descendente de una industria The relationship between an industry or firm and formal education other industries or firms which use its output as an educacion formal, academica input. A change in output or price will be transmitted forwards to users of its product. formal eligibility threshold; eligibility threshold; eligibility ceiling forward-looking limite oficial para recibir financiamiento de la de vision bacia el futuro; con vision bacia el AIF futuro The maximum limit above which a country is no longer eligible for IDA financing. In practice, only foundation seed countries below the operational cut-off, with the semilla basica exception of a few small island economies, receive The progeny of breeder, select or foundation seed IDA financing. handled to maintain specific genetic purity and identity. formal sector sector estructurado founder's share participacion de fundador formal suspension of disbursements [IBRD] Shares subscribed by original owners of a business. suspension oficial de los desembolsos frame agreement [IBRD] formal vote [ICSID] acuerdo basico votacion formal An agreement between the World Bank and a member country on cofinancing. formation expenses; organization expenses gastos (iniciales) de constitucion framework cooperative arrangement [MIGA] acuerdo de cooperacion general forward budgeting presupuesto multianual franchise Planning tool to determine government concesioo; licencia; franquicia; etc. expenditures for the next few years. franchising agreement forward cover acuerdo de concesion entrega futura, a plazo Agreement where the franchiser provides the The arrangement of a forward foreign exchange franchisee with a package of resources such as contract to protect a buyer or seller of foreign trademarks, know-how and management currency from unexpected fluctuations in the ex- assistance and where his remuneration depends, at change rate. least in part, on the production, revenues or profits of the investment project. Considered as a type of forward exchange market non-equity direct investment for the purposes of mercado de divisas a termino, a plazo MIGA. forward exchange rate free alongside ship. F AS tipo de cambio a termino, a plazo franco al costado del buque - f.a.s. Applies to goods delivered alongside a specified forward integration ship at the quay or in lighters. integracion progresiva Refers to a firm whose activities extend over more than one subsequent stage of the production 91 free carrier (named point) - FRC free of particular average - FPA franco transportista franco de avena particular Applies to goods delivered into the custody of the Type of marine insurance which does not cover carrier at the named point. partial loss and damage. free-enterprise economy; free market economy free on board - FOB economia de libre empresa franco a bordo - f.o.b. Applies to goods delivered and loaded onto a ship free (foreign) exchange at a port of shipment specified in the sales divisa(s) de libre convertibilidad contract. Foreign exchange which is freely convertible. free on board (FOB) port of shipment price free funds [IDA] precio f.o.b. puerto de embarque fondos de libre utilizacion Funds provided to IDA in a freely convertible free on quay - FOQ; free on wharf - FOW currency or in a member's currency if available franco en muelle for financing procurement in the territory of the Same as free alongside ship (F AS) member, if there is a reasonable expectation that such resources will be fully used for procurement free on rail - FOR in such territory during the disbursement period. franco vagon Applies to goods delivered and loaded to the free in and out - fio railway. franco de carga y descarga - f.Lo. A chartering term by which is meant that the free on wharf see free on quay owner who charters his ship is responsible for all the usual costs of ship management with the free port exception of loading and discharging cargo and of puerto franco, Iibre putting the vessel in dry dock if required to do so Area sometimes found in large ports where by the charterer. provision is made for reshipping imported goods without taking them through customs. free limit [ffiRD] limite de aprobacion autonoma free reserves The limit on a free-limit loan. reservas disponibles Total reserves held by a bank less reserves free-limit loan [DFCs] required by authorities. prestamo de aprobacion autonoma A loan which does not exceed the amount above free resource ratio see gearing ratio which onlending is subject to official approval. free rider [economics] free limit ofloan [DFCs] que se beneficia sin asumir carga algona limite maximo de los prestamos de aprobacion In banking, a bank that collects full interest due on autonoma outstanding loans without contributing to the new money loans which provide, in part, the resources free-limit subloan to pay future interest. In other contexts, any party subprestamo de aprobacion autonoma that benefits from the activities of others without A subloan which does not exceed the limit above making any contribution. which onlending is subject to Bank review. free-standing; self-contained free market economy; free-enterprise economy independiente; autonomo economia de libre empresa free-standing loan prestamo independiente, autonomo 92 free-standing project front-end fee proyecto iodepeodieote, autooomo comision ioicial Fee levied on borrower when a loan is first made. free-standing technical assistance - FSTA The World Bank used to levy a front-end fee on its asisteocia tecoica iodepeodieote loans but no longer does. Technical assistance independent of a loan. frontier technology free trade tecnologia avanzada, de vanguardia Iibre comercio; libre iotercambio front-loaded spending free trade area gasto concentrado al comieozo de uo periodo zooa de libre comercio front loading free trade zone - FTZ; bonded area desembolsos, gastos, reembolsos, etc., zooa fra~ca coocentrados al comienzo de uo periodo freely convertible currency front loading of the subscription [ffiRD] mooed a de Iibre coovertibilidad mayor pago inicial de la porcion pagada de las suscripciones de capital freely usable currency moneda de libre uso front office 1. Any currency designated as such by the direcci6n International MonetaJy Fund from time to time. 2. Any other freely available and effectively frozen capital usable currency which the Board of Directors may capital congelado, bloqueado designate for the purposes of the Convention after consultation with the International Monetary Fund fruit vegetable and with the approval of the country of such hortaliza de frota currency. Will normally apply to the United States dollars, Japanese yen, Deutsche marks, French fuel cell francs and pound sterling. celula energetica; pita de combustible freeze (of salaries, prices, etc.) fuel efficiency coogelacioo eficiencia eo la utilizaci6n del combustible [see also price freeze] fuel oil freeze drying petroleo residual, combustible; fuel oil deshidratacion por congelacion; liofilizacioo full budgeting fresh fruit bunch - FFB presupuestacion completa racimo de frotas frescas full cost accounting frictional unemployment contabilidad de costo total desempleo fricciooal A method of accounting in the oil and gas industry in which costs of unsuccessful acquisition and fringe benefits exploration activities are initially recorded as prestaciooes suplemeotarias assets and then amortized as expenses as the total reserves in the cost center are produced. front-end cost costo inicial 93 (full cost) nominal budget planning, budgeting funding pro rata planificaci6n presupuestaria nominal participati6n proporcional Budget planning based on a fixed overall sum for Type of mRD "B" loan, whereby mRD takes a the budget, rather than for a fixed amount of pro rata share of about 10 percent in each maturity items, with allowances for cost increases. of the commercial loan. full cost pricing funds flow; flow of funds valoraci6n a costo total flujo de fondos; corriente de fondos The flow of purchasing power into and out of an full member organization. Inward flows include sales revenue, miembro de pleno derecho sales of fixed assets and investments, and issues of debentures, loans, and shares. Outward flows full development, at [project] include purchases of fixed assets and investments, en pleno funcionamiento repayment of debt, payment of dividends, and taxation on profits. full mission mision general funds flow statement see statement of changes in financial position full payout lease see finance lease funds-in-trust fully allocated cost fondos fidutiarios costo total mente imputado Funds held by one agency on behalf of another Cost derived from the apportionment of the total when the first agency is implementing a project on costs of operating an enterprise by distributing this behalf of the other agency. total among the various units or classes or service in such a manner that the sum of the costs imputed funds statement see statement of changes in to each unit or class is made to equal the total financial position costs. fungible funds fully funded system fondos intercambiables, transferibles sistema financiado con fondos propios fungible goods fully paid stock see paid-up stock bienes fungibles functional literacy funk money [UK] see hot money alfabetizaci6n funtional furrow irrigation funded debt riego por surtos deuda consoIidada The debt of a business or government in the form futures of outstanding bonds and other long-term notes. futuros An agreement to take or make delivery of a funding gap specific commodity or instrument on a particular breeha, deficit de financiamiento date. funding latter maturities futures market financiamiento de los ultimos vencimientos mercado de futuros Type of mRD "B" loan, whereby mRD would Market where futures contracts are bought and take an initial share of the loan up to about 25 sold. percent, concentrated in the latter maturities. 94 gender issues cuestiones que afectan a la mujer; cuestiones -G- relativas a las desigualdades entre los sexos, a las diferencias de roles del hombre y la mujer; a veces: discriminacion sexual galloping inflation inftacion galopante gene bank [plants] banco de genes game see management game; negative sum game; plus sum game; zero sum game gene pool reserva genetica, genic a gap brecha; deficit; diferencia General Algebraic Modeling System - GAMS [IBRD] gap theory sistema de modelos a1gebraicos generales teoria de recuperacion de los bosques The process by which tropical forest regenerates General Capital Increase - GCI spaces opened by windfalls. aumento general del capital gas flaring general cargo quema de gas carga general; carga mixta The burning of gas in the field as a means of disposal when there is no market for the gas. general equilibrium analysis analisis del equilibrio general gazetted (protected) public forest bosque publico protegido general equilibrium model see computable general Woodlots which have been subjected to a formal equilibrium model act of classification or where the State has carried out reafforestation. general government [national accounts] administraciones publicas gearing [UK]; leverage nivel de endeudamiento relativo al capital; General Loss Reserve [IFC] relacion endeudamiento-capital propio Reserva general para perdidas Loss Reserve set up to replace Unidentified Loss gearing ratio; free resource ratio; capital gearing Reserve. It broadens the reserve coverage to the ratio entire disbursed portfolio, excluding the portion on relacion prestamos desembolsados y which there are specific loss reserves. pendientes-capital y reservas [Banco Mundial]; relacion pasivo-capital general price level accounting; price level 1. [UK] [= leverage ratio in US] Ratio of accounting debtlliabilities to equity/assets. Includes debt and contabilidad segUn el nivel general de precios debt-equity ratios. 2. [IBRD] Ratio of capital plus reserves to loans general procurement notice outstanding and loans disbursed. anuncio general de adquisiciones A notice of bidding opportunities in a competitive gearing ratio [IFC] bid. It should contain information concerning the relacion pasivo-capital recipient, amount and purpose of the loan, Ratio of outstanding investments and guarantees to describe the goods and works to be procured, the capital base. indicate the scheduled date for availability of documents and specify the Borrower's agency responsible for procurement. In the case of Bank loans these are normally published in the United Nations Development Forum, Business Edition. 95 General Reserve(s) [IBRD] global commons Reserva General patrimonio natural de la bumanidad; bienes comunes de la bumanidad Generalized System of Preferences - GSP The elements of the Earth and atmosphere, Sistema Generalizado de Preferencias - SGP comprising the oceans and sea bed, the atmosphere and outer space, which are not the property of any generated traffic one nation or individual and are therefore deemed trlflco generado to the property of all. generic drug global depositaIy receipt - GDR producto fannadutico generico; medicamento cenificado internadonal de deposito generico Instrument that allows trading of stocks on foreign exchanges when the country concerned will not geothermal deposit allow foreign ownership of the stock of domestic yacimiento geotennico firms. The shares are deposited with a bank in the country of incorporation and an affiliate or germplasm correspondent bank in other countries issues germoplasma depositaIy receipts for the securities. They can then be traded on stock exchanges in the same way ghost fishing as other securities. Used, for example, in Korea. pesca fantasma Fish killed by being caught in lost or discarded Global Swap Authority [IFC] fishing nets, traps and other fishing gear. facultad para efectuar swaps Authority given to IFe by the Board to borrow ghost worker from the markets up to a level of US$2S0 million empleado "fantasma" equivalent through private placements and direct Worker who is drawing pay but is not actually institutional loans. doing any work, e.g. because he is dead, does not exist or is doing another job. global warming recalentamiento atmosferico, de la Tierra; gill fishing calentamiento de la Tierra; aumento de la pesca por enmalle temperatura mundial Fishing using a flat net suspended vertically in the The predicted excessive warming of the water with meshes that allow the head of a fish to atmosphere, as a result of the accumulation of pass but entangles its gill covers as it seeks to atmospheric carbon-based and other heat withdraw. absorbing gases. gilt-edged securities global warming potential - GWP valores de primer orden; bonos del gobierno potencial de recalentamiento atmosferico, de la britinico Tierra The extent to which individual emissions ginning [cotton] contribute to global warming. desmotado globalization Global Cap Authority [IFC] g1obalizacion facoltad de adquisidon de contratos con inteRS tope glued-together household Authority given by the Board to IFe to purchase unidad familiar con intereses en comu contracts with interest rate ceilings (caps) and then sell to its borrowers. It reflects the total GNP price deflator amount of caps, in dollars, that IFe is authorized dell actor de precios del PNB to make. 96 going concern goodwill clause empresa en plena actividad y crecimiento chiusula de buena voluntad A clause in a Paris Club loan agreement that going price commits the creditors to consider debt relief after precio corriente, vigente the end of the stipulated consolidation period. In return, creditor countries ask the debtor country to gold content (e.g. of US dollar) meet two conditions. Firstly, the debtor country contenido de oro must have secured debt relief from creditors not The amount of gold formally maintained in the covered by the Paris Club agreement and secondly legal tender of a currency. From January 1934 to at the time the creditors agree to review the need May 1972, the gold content of the United States for further debt relief, the country remains eligible dollar was 0.888671 gram of tine gold. This dollar for use of upper credit tranche IMF resources. was used as the common denominator of the value of capital subscriptions for the Bank and Fund. governance Because the US changed the value of the US gobiemo; buen gobiemo; buen ejercicio del dollar, partially because of the abolition of the poder; buena gestion de la cosa pUblica; official price of gold, the Fund (in 1978) and the direccion; conduccion Bank (in 1986) ceased to used the US dollar for The exercise of political power to manage a this purpose and adopted the Special Drawing nation's affairs. Public service that is efficient, a Right in its place. judicial system that is reliable and an administration that is accountable to its public. gold holdings tenencias en oro; reservas de oro governing law derecho, ley aplicable gold-pegged currency moneda vinculada at oro government gobiemo; autoridades; Estado gold value valor oro government bond bono publico, del Estado golden share accion con derecho de veto government expenditure Single share in a privatized company which gives gasto(s) publico(s) the holder (usually the government) the right to block certain key decisions. government-owned programs programas preparados por el gobiemo mismo good practice project proyecto modelo government paper Project using good project design and a good efectos publicos approach to a special operational emphasis area, such as women in development. government receipts, revenues ingresos publicos; rentas publicas goods and services bienes y servicios government securities efectos, valores publicos, del Estado goodwill fondo de comercio; a veces: "derecho de lIave" government services administracion publica 97 grace period grant-in-aid periodo de gracia donation; subvencion The period allowed in a loan schedule during which repayments of loan principal need not be grant-like contribution made. aportacion con caracteristicas de donacion grade creep graphical user interface - GUI tendencia hacia categorias mas altas de interfaz grMica para el usuario clasificacion del personal Tendency for the employees of an organization to grass root plant; greenfield plant be in a higher average classification as people rise planta totalmente nueva up the scale but do not leave the organization. grass root(s) level, at the grade ratio; retention rate (education] a nivel popular, comunitario, local; de base tasa de retencion Ratio between enrolment in a given grade and grass roots organization enrolment in the previous grade the previous organizacion de base, comunitaria school year. graveling; regraveling grading see land grading recubrimiento, aplicacion de grava graduate, to [Bank, IDA] gravel road "graduarse"; pasar de las condiciones de camino de grava asistencia de la AIF a Jas del Banco; dejar de reunir las condiciones para recibir gravity check irrigation see bordercheck irrigation financiamiento del Banco gravity irrigation graduated tax riego por gravedad impuesto progresivo gray cotton; light gray cotton; blue stained cotton graduation (ffiRD] algodon gris claro graduacion (paso de Jas condiciones de Ja AIF a A discolored cotton which has been stained to a las del Banco; terminacion del derecho a gray color by exposure. financiamiento del Banco) gray market see grey market graduation mission (ffiRD] mision de finalizacion (previa a la terminacion green projects de un proyecto) proyectos verdes Projects concerned with the promotion of grandfather clause sustainable natural-resource management and the clausula de exencion por derechos adquiridos reduction of resource degradation, including agriculture and land management, forest grant basis, on a management, water-resource and watershed man- a titulo de donacion agement, marine and coastal-zone management, and biodiversity conservation. Cf. blue projects, grant element brown projects. factor, elemento concesionario, de donacion greenfield investment grant equivalent inversion de tipo totalmente nuevo equivalente en donacion 98 greenfield plant; grass root plant gross domestic income - GDY planta totalmente nueva ingreso interno bl1lto - YIB Gross income from domestic as opposed to foreign greenfield project sources. proyecto totalmente nuevo gross domestic investment - GDI greenhouse effect inversion intern a bl1lta - DB efecto de invernadero Outlays for additions to the fixed assets of the Increased retention of heat energy by the Earth's economy plus the net value of inventory changes. atmosphere as a result of increased emissions of carbon-based and other heat absorbing gases, gross domestic product· GDP including chlorofluorocarbon and carbon dioxide. producto interno bl1lto - PIB; producto geografico bl1lto - PGB [Chile]; producto greenhouse gas - GHG territorial bl1lto [peru] gas que produce el efecto de invernadero [see also commercial, commercialized GDP; Gas that helps cause the greenhouse effect. monetized GDP] Includes carbon dioxide, methane and chlorofluorocarbons. gross domestic product at factor cost producto interno bl1lto at costo de los factores greenhouse index The gross domestic product at market prices indice de invernadero minus the difference between indirect taxes and Net emissions of three major greenhouse gases subsidies. (carbon dioxide, methane and chloro- fluorocarbons), with each gas weighted according gross domestic product at market prices to its heat trapping quality, in carbon dioxide producto interno bl1lto a precios de mercado equivalents and expressed in metric tons of carbon The sum of the income accruing from production, per capita. i.e. the provision for consumption of fixed assets, compensation of employees, operating surplus and green labeling the excess of indirect taxes over subsidies. etiquetas verdes Labeling goods that are considered gross earnings margin [banks]; gross margin; environmentally sound. Has been proposed for banker's spread; banker's markup wood grown under sustainable conditions. margen (bancario) bl1lto Interest received on loans less interest paid on green manure deposits plus other income (interest received on abono verde investments, gains or losses in foreign exchange operations and commissions and fees received and grey market~ gray market paid). mercado gris Market in bonds that have not been given a firm gross enrollment ratio see gross (primary) price. enrollment ratio gross budget gross fixed capital expenditure; gross fixed presupuesto bl1lto investment Bank budget including non·Bank resources (e.g. inversion bl1lta en capital fijo; gasto bl1lto de from Trust funds and reimbursable programs). capital fijo The addition during a period of time - usually a gross calorific value· GCV; gross heating value - year - to a country's stock of fixed capital without GHV; higher heating value making any allowance for the depreciation of the poder calorifico bl1lto - PCB existing fixed capital. Total amount of heat produced by combustion. 99 gross fixed capital formation - GFCF gross national product - GNP formacion bruta de capital fijo producto nacional bruto - PNB The outlays of industries, producers of government services and producers of private non-profit gross operating profit services to households, on additions of new utilidad bruta de operacion, de explotaeion durable goods to their stocks of fixed assets less Difference between total output per period and the their net sales of similar second-hand and costs of goods and services purchased to produce scrapped goods. Excludes government outlays on this output less cost of labor and taxes (excluding military goods. income tax). The English term is invented as the concept does not exist in US and UK accounting. gross fixed investment; gross fixed capital expenditure gross (primary) enrollment ratio - GER inversion bruta en capital fijo; gasto bruto de tasa bruta de matricula (primaria) capital fijo Total number of children enrolled in school as a The addition during a period of time - usually a percentage of the school-age population. year - to a country's stock of fixed capital without making any allowance for the depreciation of the gross (register) tonnage - GRT [shipping] existing fixed capitaL tonelaje (de registro) bruto A measure of the total space of a vessel in terms of gross heating value - GHV; gross calorific value- 100 cubic feet (equivalent tons) including mid- GCV; higher heating value deck, between deck and the closed-in spaces above poder calorifico bruto - PCB the upper deck, less certain exemptions. Total amount of heat produced by combustion. gross value product - GVP gross margin; banker's spread; banker's markup; producto agricola bruto gross earnings margin [banks] The total value of all agricultural production for a margen (baneario) bruto given country in a given year, expressed in Interest received on loans less interest paid on constant dollars. deposits plus other income (interest received on investments, gains or losses in foreign exchange groundwater table operations and commissions and fees received and nivel freatico; eapa freatica paid). group credit gross material product - GMP crMito colectivo producto material bruto - PMB Corresponds to gross domestic product less output Group of Fifteen of certain services, such as public administration, Grupo de los Quince defense, education, health and social insurance. Created in September 1989 to promote South- Used instead of GNP in state-trading countries. South cooperation, it consists of Algeria, Argentina, Brazil, Egypt, India, Indonesia, gross national income - GNY Jamaica, Malaysia, Mexico, Nigeria, Peru, ingreso nacional bruto - YNB Senegal, Venezuela, the former Yugoslavia and Gross national product and a terms of trade Zimbabwe. Chile joined in 1993. adjustment. The terms of trade adjustment reflects changes in the capacity of exports to buy Group of Five imports. Grupo de los Cinco Informal meeting of senior officials (usually gross national investment - GNI ministers of finance or heads of state) of the five inversion nacional bruta - INB most industrialized nations (France, Germany, The total of new capital goods built with allowing Japan, UK, US). for wear and tear on existing capital. 100 Group of Seven growing period Gnapo de 108 Siete periodo vegetativo, de crecimiento Informal meetings of senior officials (usually Period during the year roughly between spring and ministers offinance or heads of state) of the seven autumn when crops grow, usually from seed to full most industrialized countries (Canada, France, maturity and ripen for harvesting. It corresponds Germany, Italy, Japan, UK. US). Cf Group of to the period when mean daily temperatures are Five. above 6 degrees C. Group of Seventy-Seven growth accounting [econometry] Gnapo de los 77 analisis del crecimiento Set up in 1967, it is an informal meeting of senior Decomposition of the observed rate of economic officialslministerslheads of state of the developing growth of a given country into components countries. It currently has 128 members plus the corresponding to factors of production responsible PLO. for growth. Group ofTen guarantee authority Gnapo de 108 Diez facultad de otorgar garantias Also known as the Paris Club, it consists of the wealthiest members of the IMF that provide most guarantee capacity [MIGA] of the money for lending. It currently has eleven capacidad de garantia members: Belgium, Canada, France, Germany, Italy, Japan, Netherlands, Sweden, Switzerland, guarantee commission, fee [ffiRD] UK, US. comision de garantia Commission payable periodically (e.g. to mRD) as Group of Twenty-Four compensation for the risk in guaranteeing a loan. Gnapo de 108 Veinticuatro Set up in 1972, it exists to promote the interests of guarantee currency developing countries in the IMF. Current moneda de la garantia membership: Algeria, Argentina. Brazil, The currency designated as the currency for the Colombia, cate d'Ivoire, Egypt, Ethiopia. Gabon, guarantee in the contract. Ghana, Guatemala. India. Iran. Lebanon. Mexico, Nigeria, Pakistan, Peru, Philippines, Sri Lanka, guarantee holder [MIGA] Syria, Trinidad and Tobago, Venezuela, former tenedor de la garantia Yugoslavia, Zaire. Holder of a guarantee issued by MIGA. group travel [World Bank] guarantee leverage viaje en gnapo capacidad de endeudamiento en, por concepto Travel by Executive Directors to member countries de garantias outside their constituencies. guaranteed percentage growing concern porcentaje garantizado empresa en plena actividad y crecimiento The percentage of each loss for which the guarantee holder is entitled to compensation under the contract. 101 Guaranteed Recovery oflnvestment Principal • GRIP [IFC] Recuperacion Garantizada del Principal de las Inversiones - GRIP A financial service offered by IFe, involving the structuring of IFe and co-investor equity exposures in such a way as to take advantage of differences in their risk-preferences and perceptions, generating benefits which can be shared by both. An investor making an investment in the equity of a developing country enterprise, instead of making the investment directly, gives the money to IFe in return for a U.S. dollar debt instrument. IFe makes the investment in its own name but has a contractual agreement with the investor regarding voting of shares, management and long-term strategy for the enterprise. guidance see vocational guidance guidelines directrices; pautas, normas generales guiding price precio indicativo 102 hard loan window senicio, entidad de prestamos en condiciones -H- ordinarias, no concesionarias hard technical assistance see engineering-related hairy cotton; upland cotton technical assistance algodon velloso; algodon upland; algodon americano hardening of loan terms tendencia a condiciones de prestamo mas halfway country gravosas pais medianamente industrializado; pais pareialmente industrializado hardship allowance A country that is on the way to being subsidio por lugar de destino dificit industrialized but is not yet fully industrialized. hardware handles see tax handles componentes fisicos; equipo de computacion handling charges harmonic mean [statistics] cargos por manipulacion, tramitacion, etc. media armonica A special kind of mean which is determined by harbor dues, fees; port dues calculating the mean of the reciprocals of the derechos portuarios values concerned and then calculating the Charged for the use of the port by the ship and its reciprocal of this quantity. cargo. harnessing hard-blend countries captacion; movilizacion; aprovecbamiento; etc. paises que reciben financiamiento en condiciones predominantemente gravosas harvest fishery see capture fishery Country receiving more loans from ffiRD than credits from IDA. hardwood forest bosque de especies frondosas, no coniferas hard coal; anthracite antradta; carbon antracitoso head gate structure [irrigation) estructura de cabecera hard component [projects] componente fisico head hunting busqueda de personal calificado hard copy copia impresa; salida impresa head tax; poll tax; capitation tax impuesto de capitacion hard core [projects] nudeo; base; basico; minimo headcount index (measure) of poverty; headcount ratio-HCR hard currency; strong currency indice de recuento de la pobreza moneda fuem A useful way to measure poverty by expressing the number of poor as a proportion of the population hard loan although it ignores the extent to which the poor prestamo en condiciones ordinarias, de mereado fall below the poverty line. 103 headroom [World Bank] heavy fuel oil margen de maniobra petr6leo combustible pesado The difference between the statutory lending limit and the value of loans that are disbursed and heavy industry outstanding. industria pesada health delivery system heavy oil sistema de prestacion de servicios de salud aceite, petr6leo pesado health maintenance organization - HMO hedge [securities market] organizacion de medicina preventiva; centro valor de protection integral de salud Security acquired to cover possible loss on An organized health care delivery system where speculative investments. participants pay a fixed, regular sum and receive an agreed range of health services from an hedge clause approved set of health care providers. Health c1ausula de salvaguardia system where medical care is provided directly by salaried employees in facilities owned by the hedging HMO. operaciones de cobertura, de proteccion cambiaria health post puesto de salud; dispensario hedonic price analysis anilisis del valor hedonico; anilisis hedonico de health screening los precios reconocimiento, examen medico Economic analysis technique which takes into account the implicit prices of specific heating oil characteristics of properties. For example, in the petrnleo, combustible para calefaccion environment field, it places value on improvements or deterioration in environmental heat rate quality. rendimiento tcrmico; consumo calorifico herbaceous cotton; Levant cotton; American short heat trapping staple cotton; Arabian cotton retention termica algodon herbaceo The ability of a gas to prevent heat escaping from the Earth's atmosphere. hidden hunger hambre oculta, encubierta heat trapping gas gas que produce retention tcrmica hidden inflation Gases, such as carbon dioxide and methane, that inOacion latente, oculia trap heat in the ozone layer. hidden reserves heat value reservas ocultas poder calorifico hidden unemployment; concealed, covert, heavy commodities disguised unemployment productos pesados desempleo oculto, encubierto, disfrazado heavy engineering industry industria metalmecanica 104 high absorber [oil exporter] highly leveraged pais de elevada absorci6n, de gran capacidad de con alto coeficiente de endeudamiento; con gran absorci6n endeudamiento Oil exporting capital surplus country which is a net importer of capital and has been able to make Highways Design and Maintenance Model - HDM full use of revenues from oil production for [ffiRD] domestic development. Includes Algeria, Ecuador, modelo de normas de diseilo y mantenimiento Gabon, Indonesia, Nigeria and Venezuela. de carreteras A mathematical model based on two earlier high-flow diversion see floodway models developed by the Massachusetts Institute of Technology and the Transport and Road Research high fructose corn syrup - FlFCS Laboratory, UK, used to determine the total life- sirope, jarabe de mm de alto contenido en cycle transportation cost, provide economic fructosa comparisons for large numbers of alternative designs and maintenance policies and search for high income countries the lowest total cost alternative, paises de ingreso alto hillside farming high performing economy cultivo en pendiente pais de gran crecimiento econ6mico hire purchase [UK] high school see junior high school compra a plazos high-power(ed) money historical cost dinero de alta potencia [teoria monetarista); valor inicial; precio de compra, de adquisicion base monetaria; dinero primario; dinero de la Reserva Federal de los EE.UU. para uso de los historically valued assets bancos comerciales activos a su valor de adquisici6n higher heating value; gross heating value - GHV; hit-and-run project gross calorific value - GCV proyecto de muy corto plazo, rei amp ago poder calorffico bruto - PCB Project where an investor takes advantage of local Total amount of heat produced by combustion, tax laws to operate a project (e,g. mining, textiles) under a tax-free regime and then withdraws as higher income brackets soon as he is liable for taxation, often leaving grupos de ingresos mas elevados severely depreciated equipment or exhausted mineral reserves, higher level staff personal, funcionarios de nivel profesional holding company sociedad de cartera, de inversiones higher training estudios avanzados holdings [foreign exchange, gold] tenencias [en, de divisas, oro] highest bidder licitante que presenta la oferta mas alta home country [MIGA] pais de origen highland rice; upland rice; mountain rice The country or countries whose membership in arroz de montaiia, de tierras altas, de secano MIGA made the Guarantee Holder eligible under Article 12 of the Convention Establishing MIGA highly indebted country to receive the guarantee provided for in a contract. pais muy endeudado, sumamente endeudado, fuertemente endeudado home leave allowance [World Bank] asignacion para vacaciones en el pais de origen 105 hoof see cattle on the hoof housing stock disponibilidades de viviendas horizontal equity equidad horizontal hub and spoke system Treating taxpayers with the same amount of sistema radial income equally irrespective of the source of income. human immunodeficiency virus - HIV virus de la inmunodeficiencia humana - VIH horizontal integration integraci6n horizontal human resource development perfeccionamiento de los recursos humanos host country [MIGA] pais receptor [inversiones]; pais beneficia rio, human settlements anfitrion asentamientos humanos A member, its government or any public authority of a member in whose territories, as defined in hurdle rate article 66 of the Convention, an investment which tasa critica de rentabilidad has been guaranteed or reinsured, or is considered A somewhat arbitrary rate of return, related to for guarantee or reinsurance by MIGA is to be the current cost of borrowing money, set by a located. government or company to guide investment decisions. Below this limit, investment is normally Host Organization [ICSID] considered inadvisable. Organismo Anfitrion husbandry see animal husbandry hot money; funk: money [UK] capitales itinerantes husk, to; dehusk, to Short-term international capital movements, descascarar; deshojar motivated by interest rate differentials or revaluation hopes/devaluation fears. hybrid capital base [IFC] base de capital hibrida house connection Capital base consisting of current paid-in capital conexion domiciliaria and retained earnings to support growth in operations with the debt-equity ratio not exceeding household expenditure survey - RES 2.5:1, combined with new callable capital to encuesta de gastos familiares support investment growth in a 1: 1 gearing ratio. household goods hydrant; standpipe; standpost enseres domesticos toma de agua household survey hydrocracking encuesta por, de hogares hidrocraqueo household waste collection charge hydrodevelopment tarifa de recoleccion de basura(s) aprovechamiento de la energia hidroelectrica Charge levied for removal of household waste. hydroelectric power; hydropower housing expenses/income ratio; affordability ratio energia hidroelectrica relacion gastos de vivienda-ingresos The ratio of expenditure on housing to total hydrofluoroalkane - HFA income. hidrofluoroalcano - BFA An alternative name for chlorofluorocarbons, thought up by the wily manufacturers of chlorofluorocarbons, to avoid the bad press. 106 hydrochiorotluorocaIbon • HCFC hidrocloronuorocarbono - HCFC A substitute for chlorofluorocarbons. hydrofluorocarbon - HFC hidronuorocarbono - mc A substitute for chlorofluorocarbons. hydropower, hydroelectric power energia bidroelktrica 107 index on the basis of three criteria: market capit- alization, liquidity, and industry classification. -1- IFC Investable Indexes (IFCI Indexes) Indices de la CFI de Valores para Inversion ICSID clauses (Indices IFCI) chi.usulas contractuales que estipulan someter These Indexes are calculated using the same las diferencias aI CIADI; chiusulas del CIADI factors as the IFC Global Indexes but also take into account the extent to which national laws, IDA-eligible country regulations, or company statutes prohibit or limit pais que puede recibir creditos, financiamiento foreign ownership. They thus provide global de la AIF; pais babilitado para recibir creditos investors with a definitive benchmark of the de la AIF perfonnance of stocks in emerging markets in Developing country which is entitled to receive which they can invest. IDA credits because its per capita income is below the IDA nonn. IFC risk assets-equity ratio relacion activos de riesgo-patrimonio IDA management fee Ratio calculated by measuring the risk content of comision por administracion de la AIF IFe's assets in relation to the sum of paid-in capital and retained earnings. IDA recipient pais prestatario de la AIF; receptor de creditos illegal housing de laAIF vivienda ilegal IDAreflows illegality clause reembolsos de los creditos de la AIF; reflujos de e1ausula de i1egalidad los creditos de la AIF Clause in a loan agreement which allows the Payments received by IDA in the fonn of lender to ask for repayment of his funds if a reimbursements for credits made. change in national legislation obliges him to withdraw from the loan. IDA's "free-funds" fondos de Iibre utilizacion de la AIF illiteracy rate Funds provided to IDA in a freely convertible tasa de analfabetismo currency or in a member's currency if available Proportion of population 15 years and older who for financing procurement in the territory of the cannot, with understanding, both read and write a member, if there is a reasonable expectation that short simple statement on every day life. such resources will be fully used for procurement in such territory during the disbursement period. immunity from taxation inmunidad tributaria idle cash dinero inactivo impact (evaluation) report informe de evaluacion de los efectos; informe IFC Global Indexes (IFCG Indexes) sobre las repercusiones (de un proyecto) Indices de Cobertura AmpUa de la CFI (Indices IFCG) Implementation Completion Report - ICR The IFCG Indexes are neutral and reliable informe final de ejecucion - IFE benchmarks of emerging markets' perfonnance, calculated in a unifonn manner. They include implementing agency price and total return indexes for 20 emerging organismo de ejecucion markets, as well as a composite index for those 20 markets and regional indexes for Latin America implementing agreement and Asia. Stocks are selected for inclusion in each acuerdo de ejecucion 108 implicit deflator and the project boundary and the point where the denactor implicito cif or fob price is quoted. Obtained by taking each component of gross national product in as fine detail as possible and import quota deflating it from current data. Once deflated the cuota, cupo de importacion components are again aggregated to obtain GNP in constant dollars. import subsidy subvencion, subsidio a las importaciones implicit gross domestic product deflator denactor implicito del producto interno bruto import substitution A deflator calculated by dividing, for each year of sustitucion de importaciones the period, the value of GDP in current market prices by the value of GDP in constant market import surcharge prices, both in national currency. recargo a la(s) importacion(es) implied money control theory importing power of exports teoria del control del dinero implicito capacidad de importacion derivada de las exportaciones import coefficient coeficiente de importaciones imprest account, fund (importacioneslproduccion total) cuenta de anticipos; fondo de anticipos An account or fund maintained for payments made import component in cash, commonly used as a petty cash fund. A componente importado, de importacion fixed maximum sum is kept in the fund and, as the fund is depleted, this sum is periodically brought import coverage index up to the maximum. indice de cobertura de las importaciones imputed costs import coverage ratio costos imputados coeficiente, relacion de cobertura de las Generally used to mean costs that do not involve at importaciones any time actual cash outlay and which do not, The rate at which imports are covered by exports. therefore, appear in the accounting records but are relevant to the decision at hand. import growth rate tasa de aumento, crecimiento de las imputed value importaciones valor imputado import-intensive inactive borrower, nonactive borrower con gran intensidad de importaciones; con alto prestatario inactivo contenido de importaciones Country that is not currently seeking new borrowings from the Bank. import levy gravamen a las importaciones inactive loan prestamo in activo import licensing A loan which is in force but not being disbursed. sistema, regimen de licencias de importacion Inaugural Meeting [ICSID] import parity price Reunion Inaugural precio paritario de importacion The estimated price at the farm gate or project in-bond industries boundary derived by adjusting the cif or fob prices empresas, industrias maquiladoras; industrias by all the relevant charges between the fann gate de zona franca 109 incentive income elasticity of demand incentivo; estimulo elasticidad-ingreso de la demanda; elasticidad de la demanda en funcion del ingreso incentive payment A measure of the percentage change in the incentivo en dinero; prima; bonificacion demand for a commodity or service as induced by a given percentage change in the income of the incentive price individual. precio de incentivo income note inception report bono, pagare participatorio informe inicial Note where the income is wholly or partially dependent on the earnings of the issuing incidence [medicine] corporation. incidencia income shortfall incidental services insuficiencia de ingresos servicios conexos [see also poverty gap] Additional services required of the supplier as specified in the Special Conditions of Contract, income statement [US]; profit and loss account including on-site assembly, startup, provision of [UK] tools required for assembly, provision of manuals, estado de ingresos y gastos, de perdidas y etc. ganancias [see also consolidated income statement] income ingreso(s); renta income tax impuesto sobre, a la renta income (and expenditure) account cuenta de ingresos y gastos, de perdidas y income tax [corporations] ganancias impuesto sobre, a las utilidades, los beneficios income and outlay accounts [national accounts] income tax return cuentas de ingresos y gastos declaracion del impuesto sobre la renta Accounts showing the receipt and disbursement of incomes by resident institutional units. income terms of trade relacion de intercambio de ingresos income bracket The net barter terms of trade weighted by the grupo, categoria, nivel de ingreso(s) volume of exports. It gives an indication of the purchasing power of exports. income effect efecto de ingreso, de renta incremental benefits beneficios adicionales income elasticity elasticidad-ingreso; elasticidad con respecto al incremental budgeting ingreso presupuestacion incremental A measure of the change in supply and/or demand A budget process in which justification is as income changes. generally required only for increments (or decrements) to previous budgeting levels. incremental building, housing construccion progresiva de viviendas Building, usually from a core where additional features are gradually added. 110 incremental capital-output ratio - ICOR A graphical representation of different bundles of, relacion incremental capital-producto say, two commodities, from the consumption of Ratio of the change in capital investment (net of which the individual derives the same amount of gross investment minus capital consumption total utility. If we assume an individual obtains the allowances) to the change in output. If a certain same utility from a bundle of 5 bananas and 6 industry adds $2.5 million net to its capital mangoes or 4 bananas and 8 mangoes or 3 equipment and its yearly output increases by $1 bananas and 11 mangoes, we can plot a graph with million then its ICOR is 2.5:l. bananas as the x-axis and mangoes as the y-axis. We get three points for the three different bundles. incremental cost The curve we obtain by joining these points is the costo incremental indifference curve, so called because the individual [see also average incremental cost] is indifferent about his choice as regards total utility. incremental housing, building construccion progresiva de viviendas indigenization Building, usually from a core where additional reemplazo de personal extranjero por personal features are gradually added. nacional incremental rate of return indigenous NGO tasa diferencial de rentabilidad ONG autoctona The discount rate which equalizes the present value of incremental costs with the incremental indirect costs; on-costs [UK] benefits of the project. costos indirectos indefinite quantity contract induced-by benefit contrato por cantidades indeterminadas beneficio inducido indirecto Contract which provides for the provision of an A form of indirect benefit that accrues to suppliers indefinite quantity of specific goods or services, of project inputs. Includes the direct and indirect within stated limits and during a specified period. value added to national income generated by the investment and recurrent expenditures of a project. independent variable; predictor Equivalent to using a shadow price for a project variable independiente, predictiva input for which an adjustment is made for opportunity cost in the estimates of direct and indexed, index-linked bond indirect value added. Sometimes estimated using bono ajustable, indizado specialized forms of input-output multipliers. Bond where the coupon rate or redemption value is indexed (to other currencies, gold, or fuel induced development effect; boomtown effect prices). efecto secundario de urbanizacion The secondary growth of settlements and indexed, index-linked, index-tied loan infrastructure, resulting from a project. prestamo indizado, reajustado segim un indice industrial and trade policy adjustment - ITP A Indicative Planning Figures - IPF [UNDP] ajuste de la(s) politica(s) industrial y comercial cifras indicativas de planificacion - CIP UNDP target expenditures for technical industrial and trade policy adjustment loan - cooperation. ITPAL [World Bank] prestamo para ajuste de la(s) politica(s) indicator see concurrent indicator; convergent industrial y comercial indicator; economic indicator; lagging indicator; World Bank loan made to assist adjustment of a leading indicator; performance indicators country's industrial and trade policy. indifference curve curva de indiferencia 111 industrial deepening inflationary expectations intensificacion industrial expectativas, previsiones inflacionarias Increasing the amount of the industrial sector compared with other sectors. inflationary gap brecba inflacionaria industrial estate [UK]. park (USA] A condition of excess aggregate spending (for zona, parque, poligono industrial consumer. investment and government goods and services) relative to the spending that would be industrial goods consistent with a full-employment stable economy. bienes, productos industriales The gap is actually the amount of change in spending which would lead to stability. industrial market economy pais industrial con economia de mercado inflation premium prima de inflation industrial park (USA], estate [UK] A premium added to a security to allow for zona, parque, poligono industrial inflation. industrial relations; labor-management relations; inflation tax labor relations impuesto de la inflacion; impuesto que significa relaciones entre empleados y empleadores; la inflacion relaciones obrero-patronales Increased income tax paid as wages rise with inflation but tax thresholds remain constant. ineligible inadmisible; carente de derecho a; no inflow see capital inflow; cash inflows; flow habilitado; que no cumple los requisitos inflow of capital inertial inflation entrada, atluencia de capital inflation inercial Inflation caused by spiraling wage and price informal credit increases. credito no institutional infant industry informal education industria naciente, incipiente educacion informal infant mortality informal meeting mortalidad infantil; mortalidad de ninos reunion oficiosa menores de un ano [see also child mortality] informal sector sector no estructurado; sector informal infected area The sector of the economy which is not organized zona infestada, de infestacion and which, therefore, does not appear in official economic statistics. Sometimes used for the inflation accounting underground economy. contabilidad en periodos de inflacion Accounting for dealing with the impact of informal suspension of disbursements [ffiRD] inflation. Includes the current purchasing power suspension no oficial de los desembolsos method whereby accounts are expressed in terms of purchasing units employing a retail price index; infrastructure developer value accounting whereby assets are measured by empresa de obras y servicios de infraestructura reference to their value and not cost; replacement cost accounting whereby assets are revalued from in-house training historic to current costs. capacitacion, formacion en la empresa 112 initial expenses input subsidy gastos iniciales, de instalacion subvencion para insumos initial operation input switching actividades iniciales; explotacion inicial reasignacion de fondos presupuestarios Budget term whicli means managers can change initial subscription [IDA] budget allocations as a result of changing cost suscripcion inicial pressures over the range of expense accounts. initiating memorandum - 1M [World Bank] in-service training primer memorando oficial capacitacion, formacion, adiestramiento en el servicio in-kind costs costos de, en servicios insider dealer, trader especulador (en la Bolsa) que aprovecba inland fisheries, fishing informacion intern a pesca en agoas interiores insider dealing, trading input especulacion (en la Bolsa) aprovecbando insumo; aportacion informacion interna [see also cash input; noncash input] instability index input mix indice de variacion combinacion de insumos An index which measures the variability of world prices for selected agricultural commodities. input-output coefficient coeficiente de insumo-producto installed capacity [electricity] capacidad instalada input-output model The maximum runoff of a hydroelectricity facility modelo de insumo-producto that can be constantly maintained and utilized by A mathematical model of inputs and outputs to a equipment. system. In econometrics it refers to a model representation of an input-output table. institutional framework marco, estructura institucional input-output ratio relacion insumo-producto institutional investors instituciones inversionistas input-output table tabla de insumo-producto institutional performance A matrix which shows the way in which industries desempeiio de las instituciones; actuacion de las or sectors interact. It generally shows, for each instituciones industry, the amount of that industry's output that goes to each other industry as input (as raw institutional programs [ffiRD] materials or as semifinished products), as well as programas de fortalecimiento institucional the amount that goes to the final markets of the Programs undertaken that are required to further economy. the institution itself, as opposed to being part of its operations. These would include production of the input shifting Annual Report, Annual Meetings and the like. sustitucion de recursos para reducir costO! Reducing costs by using lower priced inputs, e.g. using contractors instead of permanent staff, communications instead of travel. 113 institutional ratio integrated conservation-development project - coeficiente interinstitucional ICDP The ratio between Bank subscriptions authorized proyecto integrado de consen'acion y desarrollo solely in general capital increases and IMF A new type of experimental project that attempts quotas obtained solely from general quota to link the conservation of biological diversity in increases. Used to determine the initial share protected areas with local economic and social allocation of countries joining the Bank during the development. period of the 1979 General Capital Increase. integrated management training program institution building programa integrado de capacitacion y desarrollo, fortalecimiento institucional perfeccionamiento de funcionarios que ocupan cargos de direccion instructional aid material didactico, pedagogico integrated pest management - IPM lucha integrada contra las plagas institution-related technical assistance; soft Growing farm crops with fewer chemical technical assistance pesticides and more natural pest controls. asistencia tecnica relacionada con los Monitoring for pests and rotating plantings, the componentes no fisicos 0 de servicios; asistencia use of pesticides can be virtually eliminated on tecnica para desarrollo institucional crops such as potatoes, com and apples. Technical assistance geared towards institutional development as opposed to engineering-related integrated rural development project technical assistance. proyecto de desarrollo rural integrado Institution Rules [ICSID] integration see backward-forward integration; Reglas de Iniciacion backward integration [see Rules of Procedure for the Institution of Conciliation and Arbitration Proceedings] interchange see course interchange instrument [ICSID] intercompany pricing instrumento (oficial) fijacion de precios de transferencia entre empresas instrument of acceptance instrumento de aceptacion intercropping A legal document indicating that a state has cultivo intercalado accepted the rules and regulations of an Growing two or more crops simultaneously as in organization it is joining. alternate rows in the same field or single tract of land. insurance see social insurance interest see beneficial interest; controlling interest; intake covered interest arbitrage; depositor rate of toma (de agua); ingesta; ingestion; admision; interest; effective interest rate; working interest contingente; entrada [see also calorie intake] interest bearing note pagare que devenga intereses intangible assets, property activos, bienes intangibles, inmateriales interest charges Items or rights lacking physical existence, their intereses (cobrados, pagados) value being mainly in their income generation potential and the rights and benefits that possession confers. 114 interest coverage ratio - ICR; times interest earned interest (rate) sensitivity ratio sensibilidad a las tasas de interes relacion de eobertura de intereses Rate-sensitive assets as a percentage of rate- Net income before interest expenses divided by sensitive liabilities interest expenses. IFC's definition is "The number of times income, after deducting all expenses interest (rate) swap except borrowing charges and provision for losses, intereambio, swap de tipos de interes covers borrowing charges." An agreement to exchange floating rate payments for fixed-rate payments in the same currency. interest during construction - IDC intereses durante la constl1lccion interest rebate Interest payable on long-term or short-term debt rebaja de intereses incurred to finance capital works (e.g. plant or road construction in progress) in a fiscal year. interest service ratio Financing charges, including commitment fees, coefieiente del servicio de los intereses should also be included. IDC is frequently Ratio of payment of interest on debt to exports of capitalized (or charged to the project cost) until goods and services. the asset is commissioned or as a capital expenditure item it is transferred to a deferred interest subsidy, subsidization charges or deferred capital expenditure account. subvencion de intereses For Bank projects IDC should be computed as part of project costs to determine total financing Interest Subsidy Fund [= Third Window] requirements. Fondo de Subvencion de Intereses [= Tercera Ventanilla] interest earnings, income A lending facility to extend loans to the ingresos por intereses developing countries on terms intermediate between those charged by the Bank and IDA. Now interest equalization tax discontinued. impuesto de igualacion, de equiparaeion de intereses interest support A tax on foreign investments for the purpose of apoyo de los intereses curtailing the outflow of private funds. interfuel substitution interest income, earnings sustitucion de combustibles ingresos por intereses Interim Committee [IMF] interest leakage Comite Provisional fluctuacion de los tipos de intem debida a la fuga de capitales interim financial statement Changes in U.S. interest rates due to movement of estado financiero intermedio funds from the U.S. to the Eurodollar markets. interindustry linkages interest rate cap [ffiRD] eslabonamientos interindustriales, entre tope de los tipos de interes industrias A limit on the amount of interest that can be levied on a variable rate loan. Proposed for ffiRD. interlocking debt deuda(s) reciproca(s) interest-rate differential margen, diferencia entre tipos, tasas de interes interest rate risk riesgo de perdida en, por coneepto de intereses Risk due to difference in interest rates. 115 intermediate goods internal rate of return - IRR bienes intermedios tasa de rentabilidad intema Those goods used as an input for further The rate of retum on an asset investment. It is transformation by some other production activity, the discount rate that equates the present value not for consumption or as an addition to the stock of future net revenue streams (over the economic of fixed capital. life of the asset) to the cost of the investment. [see also economic rate of return; financial rate of intermediation return] intermediacion Process whereby a financial institution interposes internally generated funds; cash generation; its names and trustworthiness between a lender internal cash generation and a borrower. For example, instead of buying an recursos propios; recursos provenientes de las issue directly from a corporation, an investor may operaciones deposit funds with a bank which, in tum, invests in the issue. international agricultural research centers - IARC [see also market intermediation] centros intemacionales de investigaciones agrieoJas intermediation rate tasa de intermediacion international banking facility - IBF senicio baneario intemacional intermediative borrowing International branch of a bank in a kind of internal prestamos obtenidos de intermediarios free trade zone in the U.S., which allows banks to financieros engage in international banking without some of Borrowing from financial intermediaries. the usual restrictions facing domestic banks. Those restrictions from which IBFs are exempt internal audit include reserve requirements, payment of certain auditoria intema; control intemo insurance premiums, and special relief from state tax. internal cash generation; internally generated funds; cash generation international commodity agreements, recursos propios; recursos provenientes de las arrangements operaciones eonvenios, aeuerdos intemacionales sobre The gross income from all sources less all productos basieos operating and administrative expenses, excluding Any intergovernmental agreement or arrangement depreciation, interest, other non-cash charges and to promote international cooperation in a other charges on debt, and taxes. commodity, the parties to which include produces and consumers covering the bulk of world trade in internal cross subsidy the commodity concerned. subvencion, subsidio cruzada(o) intema(o) international commodity bodies - ICBs internal exchange rate; modified Bruno ratio organismos intemacionales de produetos tipo de cambio intemo; coeficiente modificado basieos de Bruno An international body concerned on a continuiing As for the Bruno ratio but using for the entire basis with the trade, production and consumption project life instead offor just one year. aspects of a commodity. internal importing costs international commodity organizations - ICOs costos intemos de importacion organizaciones intemacionales de produetos basieos internal rate of financial return see financial rate An organization established by an international of return commodity agreement to implement the provisions of the agreement. 116 International Comparison Project, Programme - internship ICP pasantia; intern ado; practica(s) Proyecto, Programa de Comparacion Internadonal - PCI intervention currency A project supported by the World Bank and the moneda de inten'endon United Nations which enables incomes to be Currency used by central bank for official compared in terms of the prices of a common set intervention in the foreign exchange market. This of consumer goods, which reflect real purchasing currency is often not the same as the home power. When outside financing dried up in 1987, currency, which may not be a convertible currency. the Project became a Programme, which is what it is now. intervention price precio de inten'encion international competitive bidding - ICB The minimum price set by an agency at which a lidtadon publica internadonal producer is guaranteed to sell his product. Bidding open to all eligible suppliers and contractors. intra-day settlement pago en el dia international competitiveness margin - ICM Trading settlement within less than one day. margen de competitividad internadonal The percentage by which the BanklFund payline inventory; inventories should exceed the combined French/German existencias; inventario(s) market paylines to provide adequate international Raw materials and supplies, goods finished and competitiveness. being manufactured and stock on hand, in transit, in storage or consigned to others at the end of the International Compilers Working Group on accounting period. External Debt Statistics [WBIIMFIBIS/OECDlBerne Union] inventory control Grupo de Trabajo Internadonal de control de existendas, inventario(s) Compiladores de Estadisticas sabre la Deuda Externa inventory investment inversion en existendas international credit guarantee fund fondo internadonal de garantias de credito inventory turnover movimiento, rotacion del inventario, de las international credit guarantee system existencias sistema internadonal de garantias de crMito inverted rates [electricity tariffs] international financial institutions - IFIs tarifas progresivas instituciones finanderas internacionales Rate where the lowest block is the cheapest, in order to subsidize low income groups. international liquidity Uquidez internadonal investment agreement [IFC] convenio de inversion [CFI] international payments position situadon de pagos internadonales investment bank [US]; merchant bank [UK] banco de inversiones international reserves Institution that accepts new issues of stocks from a resen'as internacionales corporation and attempts to sell them to the public at a profit In the US., they have a separate legal international shopping status from commercial banks. comparadon internadonal de precios Procurement based on comparing price quotations investment budget from at least three foreign suppliers. presupuesto de inversiones 117 investment center [accounting] investment review mission [ffiRD] centro de inversion mision de estudio de oportunidades de inversion A responsibility unit whose performance is measured in terms of resources committed (capital investment tax credit invested) relative to monetary costs and returns. credito impositivo por inversione5 investment commitment [IFC] investment trust see closed-end investment compromiso de inversion [CFI] company, fund investment company, fund invisible transactions compaiiia de inversiones; sociedad de operaciones, transacciones invisibles inversiones; rondo de inversiones Exports and imports of services. Includes Company that uses its capital to invest in other insurance, shipping charges aIld tourist companies. The two kinds are open-end expenditures. investment company and closed-end investment [see also surplus on invisibles] company, the former being by far the most frequent. invitation to bid, to tender [see also closed end investment company, fund; lIamada a Iicitacion open end investment company, fund] A notice issued under competitive bidding procedures calling on bidders to submit bids for investment gap contracts. deficit de inversiones invitation to prequalify [contracts] investment goods invitacion a la precalificacion bienes de inversion, de equipo, de capita] A notice issued under competitive bidding procedures calling on bidders to prequalify prior investment grant to bidding on a contract. subveocion para inversion involuntary lending investment incentives prestamos no voluntarios incentivos para la inversion Lending by banks as long as the resulting reduction in probability of default, multiplied by investment income the existing exposure, exceeds the amount of new ingresos por (concepto de) inversiones, money multiplied by the remaining probability of derivados de inversiones default even after the new assistance. investment insurance involuntary resettlement seguro de inversion reasentamiento involuntario [see also multilateral investment insurance] Movement of peoples away from their normal place of abode against their will. investment loan prestamo para proyecto de inversion inward-looking; inward-oriented [country; policy] orientado hacia el interior; aislacionist. investment portfolio cartera de inversiones (a largo plazo) irrevocable agreement to reimburse Portfolio of longer-term investments. cr. trading garantia irrevocable de reembolso portfolio. An agreement given e.g. by the Bank to a commercial Bank that it will reimburse any part of investment project a cofinancing loan on which a borrower defaults. proyecto de inversi6n investment return, yield rentabilidad, rendimiento de la inversi6n 118 irrevocable letter of credit carta de credito irrevocable Form of letter of credit whereby the issuing bank gives an undertaking to the beneficiary that payment will be made, provided that the beneficiary complies with the terms of the credit. Sometimes used as performance security. irrigation see basin irrigation; border check irrigation; border ditch irrigation; border irrigation; center pivot sprinkle irrigation; corrugation irrigation; drip irrigation; flood control irrigation; flood irrigation; gravity irrigation; micro-sprayer irrigation; runoff irrigation; small-scale irrigation; sprinkle irrigation; strip irrigation; subirrigation; surface irrigation; trickle irrigation; wild flooding island developing country pais insular en desarrollo issued share capital capital accionario emitido issues on tap; tap issue emision continua An issue of a security made available on an as required basis. Used primarily in the British market, where the British Government issues Treasury stock and seeks subscriptions. As the stock is rarely fully subscribed, the remainder is sold to Stock Exchange jobbers as demand requires issues paper documento de exposicion de problemas; Temas del Banco Mundial [mRD] issuing bank; bank of issue banco emisor, de emision item [budget] partida [see also tariff item] 119 joint venture soeiedad en participacion; empresa, operacion -J- conjunta jumbo borrowiog(s) jeopardy clause; escape clause; break clause (obtenci6n de) emprestitos gigantescos clausula de salvaguardia, de elusion, de escape Borrowing or lending in large quantities; usually A clause in a Eurocurrency agreement specifying refers to amounts in excess of US $250,000. that, if certain events curtail the lender's activity or the operation of the Euromarkets, other designated junior creditor actions will come into effect. acreedor no prioritario jeopardy loan junior debt; subordinated debt prestamo con riesgo de posibles perdidas deuda subordinada Term used by IFe to indicate that a loan has Debt which, in case of liquidation, cannot be paid serious problems. IFe expects to make a loss till payments on other obligations have been made. (though not necessarily a 100% loss) on a jeopardy Opposite of senior debt. loan. junior high school jitney escuela secundaria de primer cicio colectivo juridical personality; legal existence jobbing personalidad juridica trabajo a destajo justification job description documentos justificativos; documentacion de descripcion de cargo, puesto apoyo job order accounting just in time (liT) manufacturing contabilidad por ordenes de trabajo, por fabricacion "justo a tiempo" pedidos Production and inventory control systems A cost accounting method which accumulates the designed to produce small lots and to produce the costs of doing a separately identifiable job. right items in the quantities needed by subsequent production processes at the right time. job-related training formacion, capacitacion para el puesto, cargo joint and several mancomunado y solidario joint committee comite conjunto; comision conjunta joint monitoring committees comites conjuntos de fiscalizacion joint stock company soeiedad en comandita por acciones 120 -K- key data datos clave, basicos key interest rates tipos, tasas de interes clave The main market interest rates - includes LIB OR, U.S. prime rate, U.S. federal funds rate and certain others, depending on where it is used. key money rate; central rate tipo, tasa central The term used to describe the main interest rate set by the central bank (or equivalent) and which effectively governs other market interest rates. In the U.S., it is the federal funds rate. keynote address, speech discurso principal keynote speaker; keynoter orador principal key species especies esenciales Species that have a more profound impact on their ecosystem than other species. They are organisms which provide critical support through webs of interactions to the existence of other species. kidney cotton; West Indian cotton; Sea Island cotton; Egyptian cotton; algodon de las Indias Occidentales; algodon de Barbados; aIgodon egipcio knapsack spraying rociado, fumigacion con tanque lIevado a la espalda know-how conocimientos tecnicos, tecnologicos 121 lagging indicator indicador retrospectivo A statistic that does not change till after the economy in general has changed, e.g. the value of construction completed. labor costs costos de mano de obra; costos del (actor lamplight fishing; fishing by lamplight trabajo; costos laborales pesca con luz (artificial), aI encandilado labor force land betterment tax (uena de trauajo, laboral; mano de obra; a impuesto de valorizacion, sobre la plusvalia veces: poblacion activa land consolidation labor force penetration; labor force participation concentracion parcelaria rate tasa de actividad land development The extent to which those of working age are aprovechamiento, habilitacion, actually working. acondicionamiento de tierras; urbanizacion labor-intensive land equivalent, equivalency ratio - LER con gran intensidad de mano de obra; de uso coeficiente de la tierra de cultivo equivalente intensivo de mano de obra; de alto coeficiente Area needed under sole cropping to give as much de mano de obra produce as 1 hectare of intercropping or mixed cropping at the same management level, expressed labor-intensive industry as a ratio. industria con gran intensidad de mano de obra landfill labor-management relations; labor relations; vertedero industrial relations relaciones entre empleados y empleadores; land improvement relaciones obrero-patronales mejoramiento de tierras labor market landlocked country mercado de trabajo, laboral pais sin Iitoral, mediterraneo labor relations; industrial relations; labor- land reclamation management relations bonificacion, recuperacion, saneamiento de relaciones entre empleados y empleadores; tierras relaciones obrero-patronales land reform labor shed re(orma de la tenencia de la tierra zona de contratacion de mano de obra land register laboratory school see demonstration school registro catastral; catastro lag; slippage land resilience retraso; demora; desfase capacidad de recuperacion de la tierra A delayed climatic effect. A measure of the ability of the land to withstand and recover from shock, i.e. a sudden impact such lagged inflation as drought, overgrazing, change in specified land inflacion desfasada use. 122 settlement law of diminishing marginal utility asentamiento; colonizacion ley de utilidad marginal decreciente Law which states that although total utility land tax increases, the marginal utility received from contribudon, impuesto territorial consuming each additional unit of a commodity decreases. land tenure rights derecho de tenencia de la tierra law of diminishing returns ley de rendimientos dec recientes land tenure system regimen de tenencia de la tierra laydays; laytime estadia land use plan The period of time agreed between the parties plan de utilizacion de tierras during which the owner shall make and keep the ship available for loading/discharging without land use planning payment additional to the freight. planificadon de tierras layout land use ratio diseiio; pianos generales (de un proyecto); coeficiente de utilizacion de tierras distribucion landed price layout plan precio aI desembarque plan de distribucion The quoted or invoiced price of a commodity, including costs of loading, shipping and unloading laytime see laydays at destination. lead agency lapse-of-time decision organismo director, principal decision tacita por vencimiento de un plazo A decision which is deemed to be approved if no lead bank; lead manager objection is received by a specific date. banco director Bank with main responsibility for arranging a last in, first out - LIFO bond issue or international Eurocredit. Lead salida en orden inverso aI de adquisicion, manager is also used in the sense of agent bank. fabricacion, etc. lead donor late bid donante principal oferta fuera de plazo, tardia Bid submitted after the deadline specified for bid lead economist submission. economista principal (de un departamento geogrifico) late maturing [crop] de maduracion tardia lead manager see lead bank latrine see bucket latrine; cistern flush latrine; pit lead time of a project latrine; pour flush latrine; vault toilet; ventilated periodo de gestacion de un proyecto improved pit latrine 123 leading indicator leaseback indicador anticipado retroarriendo; retrocesion en arrendamiento A statistic valued for predicting purposes because its movement is generally followed by a certain leasing movement of the economy in general, e.g. building arrendamiento; arrendamiento financiero; permits, average weekly work hours, a veces: leasing financiero unemployment claims and corporate profits. least cost analysis leads and lags anlilisis de costo minimo adelantos y atrasos A type of analysis commonly used to compare A term referring to changes in the pattern of alternative projects or project designs when value international payments terms. At anyone time a of output (benefits) cannot be measured adequately country is extending and receiving trade credit via (e.g. certain transport projects). If it can be its exporters and imports. If a devaluation of its assumed that the (unquantifiable) benefits exceed currency is feared, its importers with foreign the cost and if appropriate adjustments are made currency obligations may hurry to pay, otherwise for any differences in benefits among the their debts will be greater after devaluation, i.e. alternatives, the task is then to minimize the cost they "lead" payments. Conversely, exporters will of obtaining them through least-cost analysis. benefit by not hurrying to convert export receipts in foreign currency - they "lag" payments. least developed countries - LLDCs paises (en desarrollo) menos adelantados - PMA leakage utilidades encubiertas least squares method In investment, benefits to selected parterns by metodo de minimos cuadrados means other than declared financial returns, such An econometric estimation technique involving as distorted transfer pricing, non-arms length minimizing the sum of the squares of the vertical royalties or management fees and inflated distance between the observed data points and the equipment costs. regression line. learning by doing legal authority aprender sobre la marcha; aprender con la autorizacion legal; facultad legal practica A method of learning involving practical legal entity, person experience. persona juridica learning curve legal existence; juridical personality cUn'a de aprendizaje personalidad juridica An imaginary graph which describes the rate at which people learn something new. Initially, they legal force will normally pick up a lot of infonnation quickly fuerza de ley but then will gradually take more time to learn less. legal instruments [agreements, etc.] instrumentos juridicos, legales learning materials materiales didacticos legal opinion dictamen juridico; opinion juridica learning rate tasa de asimilacion de conocimientos legal person, entity persona juridica lease see finance lease; operating lease; true lease 124 legal remedy lengthman [highway maintenance] recurso (legal) peon caminero A man appointed to maintain a certain length of legal reserve road. reserva obligatoria; encaje legal less developed country - LDC legal status pais en desarrollo; pais menos desarrollado - condicion juridica PMD legal tender less than carload freight - LCL moneda de curso legal trafico, mercancias de detalle A shipment that occupies less than a full railroad lender of last resort car, that may moved from car to car as economy of prestamista en ultima instancia shipment dictates and on which higher rates than One of the functions and a major raison d'etre of a full carload lot rates apply. modern central bank whereby the bank has to provide liquid assets to the banking system when letter of acceptance the existing liquid assets of the banking system carta de aceptacion threaten to deplete. Written notification by the employer to the contractor of acceptance of his bid. lending agency, institution organismo de credito, crediticio; institucion de letter of comfort credito, crediticia carta de seguridades A written instrument issued by A, where A agrees lending authority to make every effort to assure B's compliance with facultad para conceder prestamos the terms of a contract, but without committing A The amount of money that the Bank can lend, to perform B's obligation in the event that B is based on its paid-in capital. unable to fulfil his obligation. Usually issued by a parent company on behalf of a subsidiary in lending commitment another country. compromiso de prestamo letter of credit (LIC) lending limit carta de credito limite de credito, de prestamos Form of documentary credit whereby a bank promises to honor drafts payable to one party, lending pipeline; pipeline of projects drawn on it by another party. proyectos en tramitacion, en reserva Projects which have advanced beyond the stage of letter of development policy - LDP [ffiRD] appraisal mission departure, i.e. which are carta de intenciones sobre la politica de expected to be in the forthcoming year's lending desarrollo program. Letter from the Government of a country receiving a structural adjustment loan to the President of the lending program Bank, setting out the Government's medium-term programa de operaciones crediticias; programa objectives for structural change and the range of de financiamiento measures that it intends to take over several years to achieve these objectives. lending rate tipo, tasa de interes sobre los prestamos; tipo, letter of intent - LOI tasa activo(a) carta, declaracion de intencion, de intenciones Used to put in writing a preliminary understanding of parties who intend to enter into a contract. 125 letter of no objection - LNO [imports] leverage, to consulta sobre posibles objeciones ejercer inOuencia; ejercer, producir efecto In some countries, a letter sent by the Government multiplicador [finanzas] [diferentes contextos to a domestic company, asking that company if it pueden requerir distintas traducciones) has any objection to specific items being imported. [See also highly leveraged; underleveraged] The company may make an objection, thereby preventing the goods from being imported. leveraged buyout - LBO compra de una empresa con fondos tomados en letter of sectoral policy [IBRO] prestamo carta de intenciones sobre la politica sectorial Purchase of a company by a small group of Letter from the Government of a country receiving investors, often including management, mostly a sectoral adjustment loan to the President of the with borrowed funds. The debt is usually repaid Bank, setting out the Government's medium-term from the company's cash flow or from the sale of objectives for sectoral change and the range of assets. measures that it intends to take over several years to achieve these objectives. levy gravamen (tributario) letter of understanding [see also betterment levy] carta de entendimiento liabilities Levantcotton;hetbaceouscotton;AJnericanshort pasivo; obJigaciones staple cotton; Arabian cotton The credit half of a balance sheet. algodon herbaceo [see also accrued liabilities; contingent liability; currency liabilities; current liabilities; deposit leveling off liabilities; long-term liabiliaties; sight liabilities; nivelacion; estabilizacion sundry liabilities; tax liability; temporary liabilities; unfunded liabilities] level annuity system sistema de pagos totales iguales (de principal e liability management intereses) gestion de pasivos The level annuity system entails equal aggregate [see also asset and liability management1 payments of principal and interest (i.e. with principal repayments made in gradually ascending LmOR [London interbank offered rate1 amounts). This system was used by the World LmOR [tipo, tasa de orerta interbancaria de Bank prior to 1975. Londres1 The interest rate at which banks in London are level border irrigation see basin irrigation prepared to lend funds to first-class banks. It is used to determine the interest rate payable on most level repayment Eurocredits. reembolso en cuotas iguales Repayment scheme where repayments are at a licensing agreement fixed level, even though the interest rate may acuerdo, convenio de licencia, de concesion de change. Jicencia leverage (ratio) [US]; gearing (ratio) [UK] lien; charge [legal] nivel de endeudamiento relativo aI capital; gravamen; embargo preventivo; cargo relacion endeudamiento-capital propio; relacion pasivo-capital life (of a project) Ratio of debtlliabiIities to equity/assets. Includes duracion, vida atiI debt and debt-equity ratios. [See also guarantee leverage] 126 life cycle cost evaluation Sea, where the lenders had no recourse to BP if evaluacion de los costos durante la vida litil (de there was insufficient oil). equipos) Evaluation of equipment over its whole life, line breeding including initial purchase, maintenance and cruzamiento continuo; cruzamiento absorbente operation. Special form of inbreeding to maintain a high genetic relationship to a desirable ancestor. life expectancy esperaoza de vida line department departamento ejecutivo, de ejecucion, de lifeline tariff operaciones tarifa minima, vital [see also line ministry] A special low tariff for a commodity (e.g. gas or electricity) made available to disadvantaged line-haul [transportation] groups (e.g. poor or elderly) or to all consumers transporte, acarreo entre term inales but only up to a certain amount. line item [budget] lifelong education; continuing education; recurrent partida (presupuestaria) education A specific revenue or expenditure separately educacion permanente detailed in a budget. life of a loan line kilometer [surveying] vigencia de un prestamo kiJometro lineal A kilometer as measured by the line of flight of an light Arabian crude; Saudi Arabian light crude aircraft. Used to measure the distance covered by (petroleo) crudo liviano, Iigero de Arabia an aircraft when taking remote sensing images. Saudita The world's most prolific crude oil, frequently used line management as a marker crude in establishing the prices of direccion; supervision other crudes. line management position light gray cotton see gray cotton cargo ejecutivo, de direccion, de supervision light industry line manager industria ligera, liviana supervisor directo, inmediato light spotted cotton line ministry, department algodon Iigeramente manchado ministerio, departamento de operaciones, sectorial, de ejecucion limited international bidding - Lm A Government ministry responsible for Iicitacion internacional Iimitada implementing a program or group of programs as International competitive bidding by direct opposed to one responsible for general planning invitation without open advertisement. and administration, e.g. would include Agriculture, Social Security but exclude Finance, limited liability company Planning. sociedad de responsabilidad Iimitada line position limited recourse finance cargo, puesto ejecutivo, de operaciones financiamiento con recurso Iimitado Finance arranged on the basis of the lender having line staff recourse to the borrower only in certain persooal ejecutivo, de operaciones circumstances (e.g. the loan to British Petroleum (BP) to finance the Forties oil field in the North 127 linear programming liquidity management; liquidity portfolio programacion lineal management A mathematical procedure to obtain an optimal gestion de la Iiquidez answer to a series of equations that usually specify resources available; technological relationships of liquidity portfolio [IFC]; liquid assets portfolio the production process; goals of the society; cartera de activos Ifquidos relevant constraints to any solution that is found. liquidity position liner (shipping) conference situacion de Iiquidez conferencia maritima A combination of shipping companies or owners liquidity ratio which sets common liner freight rates on a coeficiente de Iiquidez particular route and which regulates the provision The ratio of the actual level of liquidity to of services. projected three year net cash requirements. link see UHF link; VHF link liquidity shortage insuficiencia de Iiquidez linkage see backward-forward integration, linkage; backward integration, linkage liquidity squeeze crisis de Iiquidez liquefied natural gas - LNG gas naturallicuado - GNL listing (of securities) cotizacion (de val ores en la bolsa) liquefied petroleum gas - LPG The process of public quotation on a Stock gas de petroleo licuado - GPL Exchange of a share or bond. liquid assets; quick assets literacy; literacy education activos Iiquidos, disponibles; disponibilidades alfabetizacion Cash in banks and on hand and marketable securities. literacy level nivel de alfabetizacion liquid assets portofolio; liquidity portfolio [IFC] cartera de aenvos Uquidos live fencing setos,cercosvivos liquid ratio see acid test ratio The use of live trees as boundary markers for the production of fruit, fodder or other products, liquidated damages instead of wooden fences. clausulas penales; penalidades; multa; dafios y perjuicios previstos en un contrato live storage, capacity A sum of damages agreed upon in advance capacidad util between parties to a contract, to be paid by the party who breaches the contract, as opposed to living area unliquidated damages, which are not fixed in area, superficie habitable advance, and are liable to be overturned by the courts. load see peak load liquidation value; forced sale value load, base valor de venta formsa carga de base, fundamental The price obtainable from an immediate sale, where the seller is under either legal or voluntary load bearing capacity; traffic bearing capacity compulsion to sell. eapacidad de trafieo 128 load factor [electricity] loan portfolio factor de carga cartera de prestamos The ratio of the average load over a designated The unpaid loans of a lending organization. period of time to the peak load occurring in that period. loan pricing, costing [see also system load factor] fijacion, determinacion del costo de un prestamo load fund Establishing the interest rate of a loan. fonda mutuo que cobra comision Mutual fund which charges a handling fee. loan processing tramitacion del (de un) prestamo loan account cuenta del prestamo loan proceeds see allocation of loan proceeds loan agreement loan recovery convenio de prestamo recuperacion de un prestamo, de prestamos loan application local area network - LAN solicitud de prestamo red de area local - LAN loan assumption agreement local authority; local government convenio de asuncion de prestamo administracion local; autoridades municipales, provinciales, etc. loan capital capital en prestamo; emprestito local competitive bidding - LeB see competitive bidding in accordance with local procedures loan commitment compromiso de prestamo local cost; onshore cost costo en moneda nacional loan costing see loan pricing local currency loan equivalency pricing moneda nacional fijacion de precios equivalentes en operaciones de cofinanciamiento local employee [IBRD] Pricing procedure adopted in Bank cofinancing, funcionario, empleado contratado localmente whereby credit alternatives offered by the Bank, such as loans and guarantees, are all priced local government; local authority comparably and do not compete among administracion local; autoridades municipales, themselves. provinciales, etc. loan investment local shopping inversion en forma de prestamo comparacion nacional de precios Procurement based on comparing price quotations loan officer obtained from several local suppliers. oficial del prestamo, de prestamos localization loan origination fee autoctonizacion comision por tramitacion de solicitud Use of local staff. The fee typically charged by a DFI to recover the cost of investigating and granting a request by a borrower for a loan. 129 localization economies long staple cotton econom(as de ubicacion aJgodon de fibra larga Agglomeration economies which are external to a Cotton with fibers of 1 1/8 inches long or more. specific company but internal to a specific industIy. They commonly result from the long-term blended cost rate - LTB [IFC] increased demand for goods and services from coeficiente de costos combinados a largo plazo specific industries. Increased demand leads to A rate used by IFC to assist in determining the increased competition and efficiencies among performance of its loan ponfolio, it is based on firms intending to provide inputs to production. It three parts of average costs of borrowed funds and also includes venical and horizontal integration of one pan capital resources. specific industries. where ancillary industries within the same area provide inputs or long-term debt ratio complementary services to other industries and relacion de endeudamiento a largo plazo firms. Cf. urbanization economies. Ratio oflong-term debt to total assets. locked in capital gains Long-term Facility for Financing Purchases of ganancias de capital realizadas Capital Goods by Developing Countries [ffiRD] Servicio de financiamiento a largo plazo para la locked in interest rate compra de bienes de capitaJ por los paises en tipo, tasa de interes inmodificable desarrollo locked-up capital long-term liabilities capital inmovilizado pasivos a largo plazo Capital that is unavailable as it is committed to Liabilities that will become due in the future, other uses. usually more than one year. lock gate price; sluice price; sluice gate price long-term prime rate - LTPR precio de compuerta tipo, tasa preferenciaJ a largo plazo A theoretical cif price used in calculating Prime rate used in Japan. European Communities supplementary levies on impons of pork, poultIy and eggs. longitudinal survey encuesta longitudinaJ logging [forestIy] Surveys of limited populations in purposively corte y extraccion de madera en trozas; selected areas, recording events as they actually exp]otacion forestal; extraccion de madera occur (as opposed to making estimates). long form audit repon . loss in weight; waste [commerce] informe largo de auditoria perdida; desperdicio A detailed repon or letter prepared by an auditor following an audit. It is addressed to the loss leader management or directors. articulo de propaganda, de cebo, de reclamo long-run average incremental cost - LRAIC loss of load probability - LOLP costo incremental medio a ]argo plazo probabilidad de perdida de carga A measurement of the probability of power long-run marginal cost - LRMC; efficiency price; outages. efficient price [electricity tariffs] costo marginal a largo p]azo loss payee The cost of meeting an increase in consumption, beneficiario sustained indefinitely into the future. when needed In insurance, a third party suffering the actual loss capacity adjustments are possible. named as beneficiary of the policy. 130 loss provision; provision for losses; reserve for low income country losses pais de ingreso bajo reserva para perdidas low load factor consumer [electricity] low absorber [country] consumidor de bajo factor de carga pais de baja capacidad de absorcion A consumer using a low amount of electricity. Oil exporting capital surplus country that has been able to make very limited use of oil revenues low standard road for domestic development. Includes Saudi Arabia camino, carretera de normas reducidas, bajas and Kuwait. low voltage consumer [electricity] lower heating value; net heating value - NHV; net consumidor de bajo voltaje calorific value - NCV poder calorifico neto - peN lump sum borrowing [IFC] emprestito de suma global lower middle income country - LMIC A currency-specific borrowing made in a lump pais de ingreso mediano bajo sum by IFC from IBRD for its short-term future Developing country with a per capita income in needs. 1980 exceeding $600 but below $1200. Include some Latin American countries, some South-East lump sum contract [consultants] Asian ones (such as Philippines and Thailand), contrato a suma alzada Mediterranean countries (such as Morocco and Contract where payments are based on an agreed Tunisia) and some sub-Saharan African countries lump sum with no matching of inputs to payment (such as Cote d'Ivoire and Nigeria). being made once the figure has been agreed. lower quality old debt lump sum loan deudas anteriores con condiciones menos prestamo de suma global favorables One of two types of fixed rate loan made by the Bank to IFC involving currency-specific lump sum lower secondary education amounts to meet net cash requirements for the educacion secundaria de primer cicio, de cicio following six to twelve months. baisico lump sum price lowest bidder tanto a1zado; monto global; suma alzada; precio licitante que presenta la oferta mas baja global [see also second lowest bidder] lowest evaluated bid oferta evaluada como la mas baja Bid which is considered to have the lowest price, taking into account factors such as time of performance, reliability of construction methods or efficiency of equipment, availability of maintenance services and other criteria disclosed to the bidder. The relative factors should be stated in the bidding documents and should be expressed in monetary terms or given a relative weight. lowest priced bidder licit ante que presenta la oferta de menor precio The bidder who offers a bid at the lowest price. 131 manageable controlable; manejable; gobemable; etc. -M- managed costs gastos generales directos macro-level accountability Discretionary and direct overhead expenses for responsabilidad macroeconomica which budget units are responsible. Macroeconomic accountability (including financial accountability and accountability for overall managed economy economic performance), e.g. congruence between economia dirigida public policy and actual implementation, the efficient allocation and use of public resources and management see asset and liability management; external auditing and follow-up to this auditing. cash management; collegial management; comanagement; corporate management; country Enacromanagement assistance management; demand management; macrogestion economic management; IDA management fee; labor-management relations; liability main contractor; prime, principal contractor management; line management; liquidity contratista principal, primario management; participative management; project management; range management; risk mainframe computer management; supply management; water gran computadora; gran ordenador [Espana] management; watershed management main power grid [electricity] Management [World Bank] red principal la administracion mainstream, to management accounting incorporar a las actividades habituales (del contabilidad de gestion Banco) The design, installation and operation of financial planning, budgeting and financial accounting maintenance of value - MOV (of mRD capital) systems with the use of appropriate methods and mantenimiento del valor techniques to monitor and control all aspects of The provision in the Bank's Articles of Agreement financial operations and the coordination of these requiring members to maintain the value of that systems, methods and techniques with the primary portion of their paid-in capital that is subscribed in activities of an entity. their own currency in terms of the subscription price (i.e. 100,000 gold dollars). management audit evaluacion administrativa maintenance of value settlement; settlement of A review and appraisal of any or all parts of maintenance of value management activity. liquidacion por concepto de mantenimiento del valor management auditor inspector administrativo Enajor currency moneda importante management by objectives - MBO gestion, administracion por objetivos malnourished malnutrido management chart; performance chart; working table malnutrition diagrama, grifico de situacion malnutricion 132 ntiDagementcompany management succession planning compailia administradora, de administracion, plan de sucesion para cargos de direccion de gestion managerial accounting management consultant contabilidad gerencial consultor en direccion de empresas, en That portion of accounting which attempts to administracion de empresas supply management with quantitative information as a basis for decisions, as opposed to management contract management accounting which is accounting contrato de administracion, gestion designed for or adapted to the needs of information Contract where the contractor assumes and control at the various administrative levels of responsibility for the management of the an organization. investment project or a significant part of its operations and where his remuneration managers substantially depends on the production, revenues administradorcs; gerentes; directivos; etc. or profits of the investment project. managing group management development consorcio, grupo de direccion, directivo perfeccionamiento del personal directivo; perfeccionamiento de la funcion de gestion managing unit unidad directiva management fee comision de administracion; comision de gestion mandatory planning Fee payable to lead bank for handling bonds. planificacion obligatoria, preceptiva management game man-day juego de gestion dia-hombre management group; managing group man-made capital consorcio, grupo de direccion, directivo capital creado por el hombre management information system - MIS man-made disaster sistema de informacion para la administracion desastre provocado por el hombre System, usually computerized, designed to provide the management of a particular organization with man-month contract the key information needed for decision-making. contrato por meses-hombre Contract where payment is based on agreed time- ntiDagement letter [auditing] based rates (usually the man-month rate), carta a la administraci6n subsistence allowance for staff and reimbursable A formal letter from auditors to the management items. concerning the accounts. It will discuss any deficiencies or weaknesses which the entity should manpower development remedy for its own protection. perfeccionamiento, formacion de recunos humanos, de la manu de obra management participation system; codetermination; comanagement manpower planning cogestion; coadministracion; sistema de planificacion de recunos humanos, de la manu participacion en la gestion; administracion de obra System which gives employees the right to be represented in the decisions of a corporation. manufacturing grade [meat] calidad para elaboracion 133 Manufacturing Unit Value Index [World Bank] marginal efficiency of capital indiee del valor unitario de las manufacturas • eficiencia, productividad marginal del capital VUM In popular terms, the expected rate of profit. More Industrial countries' indices of US dollar unit rigourously, it is a discount rate at which the values of manufactured exports to developing perpetual annual yields of an asset are expressed in countries. There are two indices • the cif index present value terms. The present value is which combines a 9()01o weight of FOB export obtained such that it is equal to the replacement prices with a 10% weight of transport costs and a cost of the asset or its supply price. For example if FOB index. the supply or replacement cost of an asset is $ 80 and it yields a perpetual annuity of $5 then the mapping see school mapping present value of the perpetual annuity is equal to $80 if the rate of discount applied is .0625 or marginal benefit 6.25%. This 6.25% is the marginal efficiency of benefieio marginal capital. marginal capacity cost - MCC marginal national savings rate costo marginal de mantenimiento de la tasa marginal de ahorro nadonal eapacidad Present worth of the least-cost investment stream marginal propensity (to consume, to save, etc.) divided by present worth of the stream of propension marginal (a1 con sumo, aI ahorro, incremental output resulting from the investment. etc,) An induced increase (in consumption or saving) as marginal cost a proportion of the increase in income. If income eosto marginal increases by $10 and consumption or saving by $5 [see also long-run marginal cost] then the marginal propensity is 0.5. marginal cost pricing marginal physical product - MPP rljacion de precios aI costo marginal produeto fisico marginal A policy used to minimize selling price or to lower The change in total product that results from costs to keep a business operating during a period employing one additional unit of a variable of poor sales, by which the firm charges for each resource together with other fixed resources. unit sold only the addition to total costs which results from manufacturing that unit, usually just marginal reserve requirement material and direct labor. encaje legal adicional; reserva obligatoria marginal marginal disutility Additional deposits that by law depositoI)' desutilidad marginal institutions (e.g. banks) must set aside in their The extra disutility resulting from a small change vaults or with the central bank. In the U.S., this in some variable. applies to additional reserve requirementc on increased managed liabilities imposed by the marginal effective tax rate - METR Federal Reserve, in order to curtail the expansion tasa impositiva efectiva marginal of bank lending. A measurement of the effect of taxes on investors' rate of return for an incremental addition to their marginal revenue product - MRP activities. ingreso marginal The change in the firm's total revenue from selling the marginal physical product that results from employing one additional unit of a resource together with other fixed resources. marginal soil(s) suelo(s) de fertilidad marginal, de baja fertilidad 134 marginal utility "market-in-hand" agreement utilidad marginal eontrato "mereado en muo" The utility derived by an individual from his Turnkey contract requiring contractor to assist consumption of an additional unit of a commodity in sales. or service at a given time. It may also be regarded as the utility of a unit of the commodity or service market intermediation the consumption of which an individual may intermediacion del mereado decide to forego. Acting on the market (i.e. buying and/or selling of securities) on behalf of someone else. marginal value product valor del producto marginal market power influencia en el mercado margin of preference; preference, preferential margin market-related lending preferencia; margen de preferencia financiamiento eo condiciones de mereado [see also domestic preference] Lending at market rate and under market conditions (Cf. eommereiallending). marker crude; benchmark crude [oil] crudo de refereneia market timing Saudi Arabian light crude oil (gravity API 34 distribucion optima de los vencimientos degrees) employed as the standard on which Taking advantage of securities of different OPEC price changes have been based. maturities. marker price; benchmark price [oil] market value precio de referencia valor comereial, de mereado The reference price used by OPEC for oil price changes, based on the price of Saudi Arabiao marketable securities light crude oil. valores negociables Equity securities or debt securities that are market-clearing prices actively traded or which can be otherwise bought precios de equilibrio del mereado or sold. A price for an item which attracts just enough buyers as there are buyers. If prices are lower marketability demand will be too high; if higher demand will be posibilidad de comereializacion, de eolocacion; too low. comereiabilidad market-clearing quotations marketing eotizaciones de precios de equilibrio del eomereializacion [productos); colocacion mereado [valores) market-clearing returns marketing arrangement rentabilidad de equilibrio del mereado acuerdo de eomereializacion market-eligible countries marketing board paises que tienen aeceso aI mereado finaoeiero junta de eomereializacion Countries that have access to financial markets. mark-up market -friendly margen de utilidad; aumento de precio en armonia coo, que armoniee con el mereado; de conformidad coo las leyes del mercado marshal evidence, to [ICSID] presentar y ofrecer pruebas 135 marshalling yard maturation (of borrowers from IDA to IBRD patio de maniobra, de c1asificacion loans) maduracion mass media medios de informacion, difusion, comunicacion mature investments [IFC] inversiones que han alcanzado su madurez, su mass production fase productiva produccion en gran escala, en serie Investments which are just at the beginning of the stage at which they will start to become profitable. master plan plan maestro mature markets [securities] mercados bien establecidos Master Loan Agreement convenio de prestamo entre el Banco y la eFI mature project Agreement between the Bank and IFe on Bank proyecto en avanzado estado de ejecucion, lending to IFe. First issued 1971 and periodically proximo a termioarse updated as the Bank makes further loans to IFe. maturity (of a loan, bond, etc.) matched funding [IFC]; matching funds vencimiento (de un prestamo, obligacion, etc.); financiamiento, fondos de contrapartida plazo de vencimiento Funding needed by the IFe to commit a loan. It must match the loan in terms of amount and maturity mismatch maturity. discordancia entre los vencimientos Having borrowings and loans with different matching contribution maturities. This could mean, for example in the contribucion de contrapartida case of the Bank. that borrowings the Bank had A contribution that is conditional on a similar made on the capital market to finance certain amount of funds being contributed by another loans it had made were due before it had received party. the money from the loans. matching credit maturity transformation credito de contrapartida modificacion de los vencimientos [see also tax sparing] Reborrowing, in order to extend the maturity of a loan. matching funds see matched funding maximum aggregate liability [MIGA] matching grant responsabilidad global maxima donacion de cootrapartida The maximum liability of MIGA for all claims A grant given when an equal sum is provided by arising from coverage for one project enterprise. the recipient or a third party. maximum amount of guarantee matching payment monto mliximo de garantia pago de contrapartida The maximum amount of guarantee coverage provided under all forms of coverage. mathematical expectation [mathematics] esperaoza matematica The mean value of single observations drawn from a finite or infinite universe in repeated samplings. matrix reporting respoosabilidad ante mas de una autoridad, entidad, jefe Staff or offices reporting to more than one agency. 136 maximum likelihood method membership application metodo de mhima verosimilitud solieitud de ingreso An econometric estimation technique which involves the maximization of the likelihood membership shares [World Bank] function of the sample observations with respect to acciones de adhesion the values of the parameters of the equation(s) These were introduced in connection with the being estimated. It chooses those values of the 1979 General Capital Increase in order to ensure parameters which are "most likely" to have that the voting power of small members was not generated the sample observations. eroded by the Capital Increase. A special allocation of 250 shares, known as membership McNamara Fellow shares, was made to each member in addition to becario McNamara the pro rata allocation. No payment was required for these shares nor were they included in the McNamara Fellowship Bank's lending authority. beca McNamara membership votes mean annual increment - MAl [forestry] votos de adhesion incremento anual medio The total growth of a stand of trees divided by the memo item; memorandum entry, item total age. partida de memorando; partida pro memoria An explanatory notation in a book of accounts means-tested pension plan which does not change the balance in any account. plan de pensiones seglin, conforme a las necesidades, con comprobacion previa de memorandum account medios de vida cuenta de orden A temporary account used to store accounting data measured production prior to actual receipt or disbursement of the sums produccion medida, efectiva concerned. The actual production of a farmer as measured, as opposed to the estimated production. memorandum entry, item; memo item partida de memorando; partida pro memoria; meat processing partida informativa elaboracion de carne An explanatory notation in a book of accounts which does not change the balance in any account. mechanical completion [projects] termination de las instalaciones Memorandum of Administrative Arrangements The final stage of a project where the actual [ICSID] physical equipment has been installed. Memorando sobre Arreglos Administrativos medium absorber [oil exporter] memorandum of law pais de mediana capacidad de absorcion memorando juridico; dictamen legal Oil exporting capital surplus country which has A legal opinion signed by a legal officer of a only been able to make some use of oil revenues government authorized to give legal opinions on for domestic development. Includes Iran, Iraq and his Government's behalf. Libya. memorandum of understanding medium staple cotton memorando de acuerdo algodon de fibra mediana A written document detailing the points upon Cotton with fibers of 1 to 1 1/8 inches long. which two or more parties agree. membership [IFC] memorial [ICSID] calidad de miembro; a veces: ingreso; miembros memorial 137 menu approach mezzanine financing metodo de la lista de opciones financiamiento "mezzanine" Financing using medium-risk capital, as opposed merchandise balance see trade balance to pure debt financing. The risk is intermediate - between secured or senior debt and equity. It merchandising differs from venture capital lending in that owners comercializacion; ventas surrender only a low amount of equity. merchant bank [UK] see investment bank [US] MlBOR [= Madrid Interbank Offered Rate1 MIBOR (tipo, tasa de oferta interbancaria de merger Madrid) fusion microdata merit goods microdatos; datos detallados bienes preferentes, deseables; bienes de interes social micro-level accountability Goods the consumption of which is deemed to be responsabilidad microeconomica intrinsically desirable. In the case of such goods it Microeconomic accountability, e.g. ensuring is argued that consumer sovereignty does not hold efficiency in investment and in the production and and that if consumers are unwilling to purchase delivery of goods and services. adequate quantities of such goods they should be compelled or encouraged to do so. Examples are micromanagement education and health services. microgestion merit increase micro-sprayer irrigation aumento por merito riego por microaspersion merit point system microteaching sistema de puntos microensenanza In procurement, a system whereby points are given Scaled-down version of teaching, planned to to each bid in respect to a number of factors. develop new teaching skills and analyse existing These points are then correlated with the bid price ones. The technique provides teaching practice in and the contract awarded on the basis of the best a situation in which the complexities of the points/price combination. classroom are minimized by restricting the number of pupils and length of lesson and by focusing on message front -end system specific teaching skills. sistema multiple de mensajes financieros middle income country messages [agricultural extension] pais de ingreso mediano contenido tecnico Developing country with per capita income of The basic information that an agricultural $400 or more. extension scheme wishes to impart to farmers. midterm project review mission [World Bank] metal works mision de supervision general del proyecto a estructuras metaIicas mediados del periodo de ejecucion Metals and Minerals Price Index [ffiRD] Midterm Review - MTR [IDA] indice de precios de los metales y minerales examen de mediados del periodo (de una reposicion) meter rent [electricity] Review of IDA resources in the middle of a cargo por medidor, por contador replenishment period. The income received from electricity metering. 138 midyear review misallocation of resources exameo de mitad del ejercicio, de mitad de aDo asignacioo desacertada de los recursos milling yield misprocurement [ffiRD] rendimiento en la fabricacion, la molienda, el adquisicioo no conforme coo los procedimieotos maquioado reglameotarios Procurement not in accordance with agreed millions of barrels per day oil equivalent - mbdoe procedures. millones de barriles diarios de equivalente en petroleo - mbdep mission see appraisal mission; audit mission; composite mission; end-of-mission document; minehead price external review mission; field mission; full valor en boca de mina mission; investment review mission; midterm The price of a mineral as it comes out of the mine, project review mission; post appraisal mission; i.e. excluding transportation aod processing. preappraisal mission; review mission; supervision mission mineral lick; salt lick salegar mission statement [EDI] declaracioo de objetivos mine run coal; run-of-mine coal carbOn sio cluificar, tal como sale, en bruto mitigation plao; environmental maoagement plao; Ungraded coal of various sizes as it comes from action plao the mine. plao preveotivo; plao de ordenaci6n ambiental Part of a formal project environmental assessment, minimum cash ratio this plao outlines feasible aod cost-effective encaje legal; coeficiente mfnimo de encaje measures which may reduce potentially significant adverse environmental impacts to acceptable minimum cash requirement levels. It should provide details of proposed work (porcentaje de) reserva minima obligatoria; programs aod schedules to ensure that the encaje legal proposed environmental actions are in phase with engineering activities throughout preparation. minimum package project The Bank uses all three terms. proyecto de contenido minimo mixed enterprise minimum tillage empresa mina labranza minima Plaoting crops through a sod of dead weeds or mixed farming project stubble. proyecto agropecuario; a veces: proyecto de cultivos multiples minority threshold [ffiRD] umbral de veto de una minoria mixed fertilizer see compound fertilizer Situation whereby a minority has ao effective veto because a certain majority is required to effect a mixed financing; blend financing change aod the minority holds enough votes to fioaociamieoto combinado (del BIRF y la AIF) prevent this majority being obtained, e.g. in the World Bank. the US could block changes mixed forest requiring 80% majority when it had a 20% bosque mino shareholding. Type of temperate forest, consisting of trees of different species. misalignment (of rates of exchange) desajuste, divergencia eotre tipos de cambio 139 mixed-use forest Policy of reducing restrictions on the availability bosque de usos multiples of money, e.g. by easing credit restrictions. Forest which has uses other than timber production. monetary expansion expansion moneta ria; expansion de la masa mobile training unit monetaria unidad movil de formacion, de capacitacion monetary restraint mobilization advance [contracts} austeridad monetaria anticipo para movilizacion Holding down the rate of growth of the money Advance payment to a contractor to enable him to supply. start work. monetary stringency mobilization costs constriccion moneta ria costos de movilizacion In a construction project, the initial costs needed to monetization get a project under way, including advance monetizacion payments, bonds, etc. monetized GOP mobilization ratio [IFC] pm monetizado coeficiente de movilizacion Ratio of project cost net of IFC financing to IFC money at call see call money financing. money center banks model bid documents bancos establecidos en las principales plazas modelos de documentos de Iicitacion financieras Bank based in a large financial center (e.g. New model school see demonstration school York or London). modified Bruno ratio; internal exchange rate money income coeficiente modificado de Bruno; tipo de cambio ingreso monetario interno As for the Bruno ratio but using for the entire money-losing operation project life instead offor just one year. operacion deficitaria moisture stress money market estres por falta de bumedad mercado monetario, de dinero The market for short-term debt instruments, such monetary aggregates as certificates of deposit, commercial paper, agregados monetarios bankers' acceptances, Treasury bills, discount The main indicators of the monetary status. notes and others. These instruments are all liquid Include such features as monetary base and money and tend to be safe. [see note to capital market, supply. financial market]. monetary correction money market (mutual) fund - MMF; mutual fund correccion monetaria fondo comon de inversiones; fondo mutuo Macroeconomic changes to the money supply, e.g. A mutual fund specializing in high yield short- by adjusting interest rates or altering the amount term instruments of credit such as Treasury Bills, of money in circulation. certificates of deposit, commercial paper, bankers' acceptances and repurchase monetary ease agreements. For the difference between FCP and relajacion monetaria; flexibilidad monetaria SICAV, see mutual fund. 140 money market paper mortgage bank titulos, valores dd mereado monetario banco bipotecario money market rate mortgage financing tasa del mereado monetario; tasa de los fondos prestamos, creditos bipoteearios comunes de inversiones The rate of interest in the money market. In the most-favored-nation clause U.S., there is no single rate but a series of rates, clliumla de la nadon mas favorecida including the prime rate, the Federal Reserve A clause in an international trade agreement discount rate, the Federal Funds rate, the 1 which states that contracting parties to an month commereial paper rate and the 3 and 6 agreement are bound to grant to each other month Treasury Bill rate. treatment as favorable as they extend to any other country regarding the application of import and money stock. supply export duties and other trade regulations. First put oferta monetaria; medio cireulante forward at Geneva Trade Conference, 1947 and became a part of GAIT regulations. money wage salario monetario, nominal most immediately impacted (MIl) countries paises inmediatamente afeetados moneyness liquidez most seriously affected countries - MSA Closeness to being money; ease with which an paises mas gravemente afectados asset can be spent; liquidity. mother and child health (MCH) center monitoring centro de salud maternoinfantil observacion; verificacion; seguimiento; vigilancia; supervision motivator [family planning] promotor monitoring and evaluation - M & E seguimiento y evaluacion motor octane number - MON indice de octano; octanaje monoculture; sole cropping A measurement of the octane quality of gasoline monocultivo relating to part throttle operation. monocyclic management mountain forest ordenacion monocfclica bosque de altura Forest management sYstem whicb provides for the removal of all merchantable trees down to a mountain rice; upland rice; highland rice specific diameter at breast height in a single arroz de montana, de tierras a1tas, de secano operation, followed by a poison - girdling of remammg large noncommercial stems. moving average see running average Silvicultural treatment is continued at intervals to promote the growth of desirable species. multiattribute decision analysis tecnica de aniJisis de deeisiones tomando en monopoly rent cuenta multiples atributos renta de monopolio Technique of decision analysis which allows tradeoffs between objectives to be analysed. moral hazard riesgo moral multicropping; multiple cropping Irresponsible conduct by the insured which is cultivos multiples likely to increase the possibility of loss. 141 multicurrency clause [loan contract] multiplier see credit multiplier chiusula de, sobre multiples monedas A clause in a loan agreement stating that more multiproduct agency credit line [IFC] than one currency may be used in paying or linea de credito para productos multiples a redeeming the loan. traves de agentes multidwelling houses multipurpose berth viviendas multifamiliares puesto de atraque de fines multiples Multifibre Arrangement multipurpose project Acuerdo Multifibras proyecto de fines multiples multigrade teaching multi sectoral general equilibrium model enseoanza simultanea de varios grados modelo multisectorial de equilibrio general Teaching where more than one grade is taught in A computable general equilibrium model which the same class due to shortage of teachers and/or covers several sectors. low amount of pupils. multishift teaching multilateral investment insurance enseoanza en multiples tumos, jomadas seguro multilateral de inversiones multistory farming; multilevel farming multilateral trade negotiations - MIN cultivos minos silvoagropecuarios negodaciones comerciales multilaterales Intercropping trees, shrubs and crops of various heights for total ground cover. multilevel farming see multistory farming multivariate technique multimedia training modules [EDI] tecnica de variables multiples modulos audiovisuales de capacitacion A technique of analysis (normally of a statistical nature) which involves more than two variables. multimodai transport transporte multimodal multiyear rescheduling arrangement; multiyear restructuring agreement - MYRA multiple cropping; multicropping acuerdo de reprogramacion multianual de la cultivos multiples deuda Growing two or more crops in the same year on Agreement in commercial bank negotiations the same field. which allowed for restructuring over a period of years rather than annually, to reduce the burden (multiple) (currency) option bond imposed by annual restructurings. bono con opcion de cambio de divisas Bond (usually Eurobond) which gives the lender mutual fund; money market (mutual) fund the right to opt to receive interest and/or capital in fondo comun de inversiones; fondo mutuo a currency other than that in which the bond is denominated. mutually offsetting entries partidas que se compensan mutuamente multiple stage tax In accounts, two entries which cancel each other impuesto por etapas, en cascada out. A tax which has more than one rate such as income tax in most countries. multiple trading approaches sistema de multiples procedimientos para las transacciones 142 due and commence reducing the principal outstanding. -N - negative pledge clause chiusula de obligacion negativa, de abstencion narrow money Clause in loan agreement obligating the borrower dinero en el sentido estricto not to grant security without equally securing the Easily available money, i.e. cash, checking ac- loan in question. counts, very short-tenn liquid funds, etc. Equiva- lent toM!. negative rate of interest tipo de interes negativo; tasa de interes negativa national agricultural research system - NARS sistema nacional de investigaciones agronomicas negative sum game juego de suma negativa national environmental action plan - NEAP plan nacional de proteccion ambiental - PNPA net beneficial product Environmental action plan at the level of an producto util neto individual country. They are intended to ensure that decision-makers take environmental issues net benefit investment ratio into consideration in policy fonnulation and are relacion beneficio neto-inversion closely linked to World Bank projects. The ratio between the present worth of net benefits and the present worth of an investment; natural capital alternatively, the sum of present worths after the capital natural incremental net benefit stream has become The natural environment. Includes land, positive, divided by the sum of present worths in watercourses, the oceans, the air, etc. the earlier years of the project. natural gas liquids - NGL net book value; current equity investment; net Iiquidos de gas natural investment valor contable neto; inversion en capital social near cash instruments corrientej inversion neta instrumentos cuasimonetarios The contribution value plus covered retained Instrument that can be converted to cash in a very earnings, less remitted earnings, less depreciation short time. of assets or other commercial losses. Used by some countries as a basis for computing the near money; quasi-money amount of compensation. cuasidinero Assets which have properties resembling those of net calorific value - NCV; lower heating value; net money in the strict sense. Includes savings heating value - NHV deposits, time deposits, certificates of deposits, poder calorifico neto - peN deposits in thrift institutions, etc. Total amount of heat produced by combustion less the latent heat of evaporation of any water present negative amortization loan in fuel before combustion. prestamo de amortizacion negativa Installment loan having the annuity principal as a net cash requirements - NCR basis for computation, whose fixed periodic necesidades netas de efectivo payments increase from time to time, e.g. Gross disbursements plus outstanding debts due to annually, bi-annually. Iuitial installments mature, less repayments and sales of loans, less net typically are insufficient to meet the interest income adjusted for non-cash items, less the in- accruing on the loan principal and unpaid crease in usable capital. balances of interest are added to the principal outstanding. As the periodic installments increase in value they become sufficient to meet the interest 143 net discounted value net present worth, value - NPW, NPV valor neto actualizado valor neto actual, actualizado The net value or net benefit of a project when all net energy ratio - NER costs have been discounted to the present at the relacion de energia neta - REN accounting rate of interest. May be positive or Ratio between delivered net energy demand and negative but for project to be acceptable must be GOP. either zero or positive. [see also social net present value] net factor service income ingreso neto por servicios de los factores net profits interest [oil] Net income derived directly from the provision of • participacion en las ganancias, utilidades net as services. A share of gross production from a property, measured by net profits from operation of the net heating value - NHV; net calorific value - property. It is carved out of the working interest. NCV; lower heating value poder calorifico neto - peN net realizable value see current exit value Total amount of heat produced by combustion less the latent heat of evaporation of any water present net register tonnage - NRT in fuel before combustion. tonelaje de registro neto The gross register tonnage of a ship (calculated net income on cubic capacity at 100 cu ft per ton) less engine ingresos netos [BIRF); utilidades netas room, navigation, light, air, locker room spaces, [sociedades] etc. It represents the actual carrying capacity of the Revenues less operatIng costs. ship. net interest margin on average earning assets net reproduction rate - NRR margen neto de interes sobre el promedio de tasa de reproduccion neta - TRN activos productivos Number of daughters a newborn girl is projected to Average interest return on loans and investments bear during her lifetime, assuming fixed age- less average rate of debt interest expenses. Return specific fertility rates and a fixed set of mortality on investments includes realized capital gains and rates. losses. net unrealized gain net investment see net book value ganancia neta no realizada The difference between unrealized gain and net material product - NMP specific reserves in the equity portfolio. producto material neto - PMN The total amount of material goods and services net worth [individuals, private corporations] associated with production supplied by the patrimonio neto national economy. Used in the national accounting The excess of all assets over liabilities. In a of the socialist countries. company this represents the net interests of the owners, i.e. stockholders' equity. net of taxes deducidos los impuestos net worth see stockholders' equity [corporations] net out netback value [energy] expresar en cifras netas; obtener cifras netas valor residual neto; ganancia neta Value of oil or gas taking the price paid net present value in efficiency prices - ENVP downstream for the product less the transportation valor actual neto a precios econ6micos and other costs incurred between the wellbead and The present value of net benefits measured in the downstream place of sale. efficiency prices. 144 network analysis NIMBY (not-in-my-backyard) anaHsis de redes "ecologia, si; en mi barrio, no"; "si, muy bien, pero no en mi barrio" network diagram The idea that people favor, e.g. waste disposal diagrama de red(es) sites, anywhere but in their immediate environment. newly agro-industrialized economy - NAE pais de desarrollo agroindustrial reciente nitrogen, nitrogenous fertilizer fertilizante nitrogenado newly industrialized country - NIC pais recientemente industrializado nitrogen oxides (NOx) Used in OECD classifications, this refers to those oxidos de nitrogeno countries at a relatively advanced level of Compounds which affect the human respiratory economic development with a substantial and system and plant growth. In combination with dynamic industrial sector and with close links to SOx, one of the causes of acid rain. the international trade, finance and investment system (Argentina, Brazil, Greece, Hong Kong, nitrous oxide Korea, Mexico, Portugal, Singapore, Spain, oxido nitroso Taiwan and Yugoslavia). A greenhouse gas. newly industrializing country - NIC no load fund pais de reciente industrializacion, en vias de fondo de inversion que no cobra comision industrializacion Money market fund that does not charge a fixed A general term, often used synonymously with fee commission to investors. newly industrialized country, used by the Bank but not as one of their official classifications. nominal effective exchange rate tipo de cambio efectivo nominal new money packages An effective exchange rate which is not adjusted cantidades de dinero nuevo for relative inflation differentials. "new style" project [IBRD] nominal price proyecto de "nuevo estilo" precio nominal, simbOlico Project geared less toward large infrastructure construction (often carried out almost entirely by nominal protection coefficient - NPC foreign contractors) and more toward smaller coeficiente de proteccion nominal efforts using local staff, emphasizing appropriate A coefficient that takes into account tariffs, quotas technology and low-cost design, using and/or and nontariff barriers that protect farmers as well strengthening local institutions, having a built-in as the impact of export taxes or restrictions that monitoring and evaluation system and paying penalize farmers and the over- or undervaluation attention to cost recovery from beneficiaries. of the exchange rate, when determining the incentives or disincentives farmers face in next-in-line manager different countries. supervisor inmediato nominal service niche market servicio minimo mercado especializado, para productos especificos nominated subcontractor subcontratista propuesto night soil Subcontractor approved by the employer or excretas; abono de cloaca, de letrina engineer. 145 nomination Bond or other instrument that cannot be recalled propuesta de candidatura or redeemed prior to maturity. nonaccelerating-wages rate of unemployment - noncash expenses NAWRU gastos, costos no monetarios tasa de desempleo que no modifica el nivel Depreciation and amortization for the year and salarial other expenses appearing in an income statement The level of unemployment at which wage growth which are not subject to cash drawn down, and might be kept stable. which should be added to net income in preparing a sources and applications of funds statement. nonaccrual rate [World Bank] porcentaje de prestamos excluidos del regimen noncash input de contabilidad en valores devengados insumo no moneta rio Percentage of loans in nonaccrual status. Agricultural input not in the form of cash. nonaccrual status noncash item exclusion del regimen de contabilidad en partida de transaccion no monetaria valores devengados When a borrower is placed in nonaccrual status, noncash working capital accrued interest is eliminated from the financial capital de trabajo, de explotacion no disponible statement receivable balances and interest income inmediatamente is correspondingly reduced. During the time the Working capital not in cash form, i.e. borrower remains in nonaccrual status, interest receivables and inventories. income is reflected in the financial statement only to the extent actually received in cash. Placing a nonconcessional, nonconcessionary flows borrower in nonaccrual status in no way affects the movimientos, flujos de callital cn condidOl"'~s no interest payment obligations to the borrower; concesionarias interest continues to be billed on the original terms of the loan. noncore project proyecto no basico nonaccrual trigger point, date Opposite of a core project, i.e. a project not in one periodo previo a la exclusion del regimen de of the key designated by the Government. contabilidad en valores devengados Period, usually six months, before a loan or credit non-18% currency is put into nonaccrual status. moneda distinta del monto del 18% Protected 18% currency recovered by the Bank nonaccruing loan see nonperforming loan under the accelerated recall procedure and exchanged for an equivalent amount of currency nonactive borrower see inactive borrower freely convertible and usable by the Bank. nonassociated gas nonequity direct investment gas no asociado inversion directa distinta de las contribuciones Free gas not in contact with crude oil in the al capital social reservoir. Any of the following forms of investment which have terms of at least three years and the other nonbulk traffic characteristics individually specified. Investments trans porte de productos empacados such as: production-sharing contracts, profit- Carriage of small items, not in bu1k form. sharing contracts, management contracts, franchising agreements, licensing agreements, noncallable [bond] turnkey contracts, operating leasing agreements no rescatable, no redimible antes del and subordinated debentures. vencimiento 146 nonexcludable, nonexcludible goods Services that do not have a commercial aim. bienes no exclusivos, no excluyentes Usually used for the services provided by local and A good is said to be non-excludable if its provision national government and other official bodies. to anyone person automatically makes it available to others. nonnegotiable note pagare no negociable nonexpendable equipment material no fungible nonoil developing country Used in UNDP to cover all items for which pais en desarrollo no petrolero inventory records are maintained at Agency HQ, Le. valued at more than $100 with a normal life nonoperating income expectancy of more than 5 years. ingresos no provenientes de las operaciones The revenue of an enterprise derived from sources nonfactor services - n.h. other than its regular activities. senicios no atribuibles a facto res In balance of payments, all services except for nonoriginal member [MIGA] interest payments and other income from capital miembro no fundador and wages, salaries and other income from labor. Full member, i.e. has signed and ratified the Convention and paid initial capital subscription as non-food agricultural commodity required by Resolution No. 12. of the Council of producto basico agricola no alimentario Governors, adopted on March 1989, since adoption of this Resolution. Non-Food Agricultural Price Index [ffiRD] Indice de precios de los productos agricolas no non-pension retiree medical costs alimentarios gastos medicos del personal retirado no eubiertos por el sistema de pension nonformal education edueacion no formal non performing assets Education taking place outside of schools, colleges activos no redituables, i~productlvog and universities and aiming to develop knowledge, Assets which have no financial return. skills and attitudes that are not normally given prominence in formal educational institutions. nonperforming debt aereencias no redituables, improductivas nonfuel minerals A debt which has no financial return (i.e. no inter- minerales no combustibles est is paid on it). nongovernmental organization - NGO nonperformingloan;nonaccntingloan organizacion no gubemamental - ONG prestamo no redituable, improductivo Loan where payment of interest has been delayed noninterest bearing note for more than 90 days. pagan! sin intereses nonpoint source noninterest current account deficit fuente (de contaminacion) no identificable deficit en cuenta corriente (excluidos los Discharge of pollutants from a non-specific source. ingresos por coneepto de intereses) Includes runoff from city streets, parking lots, agricultural land and construction sites. noninterest deficit see primary deficit nonportfolio project [IFC] nonmarket economy proyecto no incluido en la cartera economia no de mercado Project carried out by IFC that does not form part of its loan portfolio, e.g. providing technical nonmarket services [national accounts] assistance. senicios no comerciales 147 nonpricecompetition nontuUfbarrier-~ competencia no relacionada con los precios barrera no arancelaria Factors other than tariffs inhibiting international nonprofit organization; not-for-profit organization trade. Include advance deposits on import organizaci6n sin fines de lucro payments, customs and administrative procedures and similar practices. nonproject aid asistencia, ayuda no destinada a proyectos nontradable [noun] especificos, para fines generales bien no comerciable, no comercializable; no exportable 0 importable nonproprietary name A good that cannot be exported because its nombre generico; denominaci6n comun domestic cost of production is higher than the export (fob) price but lower than the import (cit) nonpurpose loan price. prestamo sin finalidad especifica nontraded goods nonrecourse finance bienes no comerciados, no comercializados, no financiamiento sin posibilidad de recurso exportados 0 importados A loan where the lenders look solely to the cash Tradable goods that for economic or policy flow generated by the project being financed for reasons are neither imported nor exported, or repayment. There is no recourse to the sponsor of inherently non-tradable goods. the project, so that the lenders assume all the commercial and political risks of the project. nontraded tradable; tradable but nontraded (good, item) nonrecourse participation bien comerciable no comerciado (etc.) participacion sin posibilidad de recurso Goods which would usually be imported were it Sales of participation in a company where the sale not for an import quota or outright ban enforced is on a "nonrecourse" basis, i.e. the buyer has no against them. recourse against the seller if the project fails to generate money. "no objection" (procedure) (procedimiento de) aprobaci6n tacita nonrecurring expenses Procedure whereby a proposal is deemed approved gastol euraordinariol if no objection is formally received by a specified date. nonregular staff - NRS personal no permanente no recourse sale venta sin recurso de rescision, irrevocable nonreporting nonmember country Sale where the buyer has no legal recourse against pais no miembro y no declarante the seller. nonresponsive no-return equity ••• que no Ie ajusta (a las estipulaciones, normas, capital improductivo etc.) normal financing nonrevenue water financiamiento contra factura agoa que no produce ingresos Water that is supplied but for which no revenue is not applicable - n.a. collected (e.g. illegal extraction, leakages). no se aplica - n.a. nonstock corporation not available - n.a. sociedad no accionaria no disponible - n.d. 148 notebook computer nucleus estate computadora portitil plantadon nudeo A central unit in the form of a processing plant or not elsewhere specified - n.e.s. plantation that provides technical assistance, no especificado en otra parte - n.e.p. inputs and marketing services to its associated outgrowers who;m~~return, sell their products not-for-profit organization; nonprofit organization through the unit. organizacion sin fines de lucro nuisance tariff not included elsewhere - nj.e. araneel de "puro estorbo" no indicado separadamente - n.i... Very low tariff established merely to cause a nuisance. not-in-my-backyard see NIMBY numeracy note [capital markets] conocimientos bisicos de aritmetica pagare A bond with short- or medium-term maturity. numeraire [see also deep discount note; demand note; unidad de cuenta; numerario discount note; floating rate note; interest bearing note; noninterest bearing note; nonnegotiable note; nurse crop; cover crop promissory note; Treasury note] cultivo protector, de cobertura note deposit [IDA] nurse see practical nurse; registered nurse depOsito de pagares nutrients note issuance facility - NIF see revolving nutrientes; elementos, sustandas nutritivos(as) underwriting facility nutritional dwarfing see stunting note issue emision fiduciaria notice of registration notification de registro Notice sent to applicant on receipt of preliminary application for guarantee to show that the investment has been registered by MIGA. notice to proceed [contracts] orden de proceder A letter sent to a vendor prior to the issuance of a contract to ensure that certain basic agreements are clearly understood by both parties. When signed by both parties, this document establishes a contractual relationship and is legally binding. nuclear housing see core housing nuclearization [education] Dudearizadon 149 official development assistance - ODA asistencia oficial para el desarroUo - AOD -0- official export credit credito oficial a la exportacion objection to jurisdiction [lCSID] eIcepcion de incompetencia official flows [development] nujos oficiales; corrientes oficiales objective function [economic analysis] funtion objetivo official holdings A function relating the objective (the variable to be tenendas oficiales optimized) to the choice variable in an optimization problem. officialization (of debt) oficializaci6n de la deuda object-oriented programming system - OOPS Shifting of the composition of debt holdings from sistema de programacion orientado a objetos commercial banks to official creditors. Type of computer programming where each object carries out specific tasks and the information off-market~on passed between objects is in a standardized way. It transaction fuera de mercado is an extension of structured programming. off-season, out-of-season crop occasional earnings cultivos de fuera de estation, de temporada ganandas ocasionales, eventuales offset agreements ocean freight rate index acuerdos compensatorios indice de netes maritimos Countertrade in which a company agrees to buy An index oftrans-oceanic freight rates. For grains, products unrelated to its normal business to the Bank uses US/Canada (S1. Lawrence) to complete a sale. AntwerplRotterdamlAmsterdam; for sugar Queensland., Australia to UK or Japan. offset borrowings emprestitos compensatorios, contra depOsitos octane booster Borrowings of funds by Bank from institutions aditivo que aumenta el octanaje where deposits are held., prior to the maturity of Fuel additive used to boost octane level. Lead has the deposits. been the main octane booster till recently but now other, more environmentally friendly substances, offshore assembly, processing such as ether, are being Used. elaboracion, montaje de material fabricado en otropais office automation Production activity in a developing country automatizacion de ofieinas; ofimatica involving assembling materials produced in a foreign country. office occupancy fee - ooF cargo por usa de ofieinas offshore bank The fee paid by IFC to the Bank for occupying the banco extraterritorial I Building. Bank located outside the country in question. official capital offshore cost capital ofitial, publico costa extranacional Assembly costs outside the host country. official debt deuda publica offshore drilling perforation submarina, mar adentro 150 offshore field (drilling) rig, platform yacimiento submarino, mar adentro equipo, torre de perforacion petrolera; plataforma de perforacion petrolera [mar.] offshore market mereado extraterritorial oil sands A non-domestic market, e.g. there is a domestic arenas petroliferas, asf8lticas; arenas (US) and offshore market in US dollars. impregnadas de brea offshore processing, assembly oil shale elaboracion, montaje de material fabricado en lutita bituminosa; esquisto bituminoso otro pais Production activity in a developing country oil shock involving assembling materials produced in a crisis, conmocion petrolera, producida por los foreign country. precios del petroleo offtake [livestock] oilcake extraccion torta (de semillas) oleaginosa(s) Livestock which can be taken out of a herd (flock, etc.) and for marketing. onchocerciasis; river blindness oncJ",p~c!".!I!.'1; ceguera de las rios offtake rate [livestock] tasa de extraccion on-costs [UK]; indirect costs The rate at which livestock is withdrawn from a costos indirectos herd (flock, etc.) for marketing. A cost not attributed to the production of a specified good or service but to an activity off-the-shelf associated with production generally. en existencia on demand guarantee off-the-shelf goods garantia pagadera a la vista bienes, mercancias en existencia Guarantee, such as a performance guarantee, Goods that are available ready made, i.e. that do where the bank issuing the guarantee must pay the not have to be custom made. person or organization to whom the guarantee is given the sum guaranteed, on demand, without off-the-shelf purchases any reason being given. compra de bienes en existencia en el mercado one parent family off-the-shelf price familia monoparental precio en almacen The price of goods obtained off the shelf. one-shot survey encuesta puntual off-the-shelf technology tecnicas disponibles one-stop agency, shop ofieina, organismo de centralizacion de tramites oil see heating oil; heavy oil; heavy fuel oil System whereby several bureaucratic procedures are combined into one. oil bill [national] gastos en petroleo; costo del petrol eo on-farm consumption consumo en la explotacion agricola oil fired power station central electrica de petroleo on-farm developments, improvements mejoras en las explotaciones agricolas; a veces: adecuacion predial 151 on-fann research - OFR open general licence - OGL investigacion(es) en las explotaciones agricolas Iicencia general de importacion System where, for a previously approved list of onlend, to commodities, qualified importers can represtar; prestar de nuevo (el importe de un automatically obtain licenses and unlimited prestamo) foreign exchange from the authorities. onlending; onward lending open-hearth steelmaking represtamo fabricacion de acero en hogar abierto, en homo Equivalent to relending in connection with new Martin-Siemens money loans. The funds are recorded as a deposit in the central bank but the foreign bank and the open market contractual borrower (usually the Central Bank) mercado abierto; mereado financiero agree that the loan proceeds will be made available 1. The market maintained by government to a third party within the country of the borrower. securities dealers. As regards U.S. Treasury borrowing operations, the open market is the onshore cost; local cost money market in the case of short-term costo en moneda nacional obligations or the capital market in the case of long-term obligations. on-the-job training 2. The general financial market. capacitacion, formr.cion, adiestramitnto en el empleo, trabajo open pit, open cast, open cut, strip mining explotacion a cielo abierto, a tajo abierto onward lending see onlending [Chile] open cast, cut, pit, strip mining open registry flag; flag of convenience explotacion a cielo abierto, a tajo abierto bandera de conveniencia, de favor [Chile] open tender; public tender open economy licitacion publica economia abierta An economy which engages in international trade. open unemployment desempleo evidente, manifiesto open-ended commitment compromiso sin plazo 0 volumen definidos operating account cuenta de explotacion, operacion open-ended contract; open-end contract Revenue and expense account. contrato de duracion indefinida A contract providing an unspecified amount of operating budget goods or services over a period of time, which may presupuesto de explotacion, operacion or may not be specified. A budget covering recurrent revenue and expense. open-ended group operating deficit grupo abierto; grupo de participacion abierta deficit de explotacion, operacion open-end (investment) fund; unit trust [UK] operating department sociedad de inversiones con numero de acciones departamento de operaciones variable A department in an organization which is An investment company that sells and reclaims responsible for the basic operating functions of the its capital stock continuously, selling it at book organization (as opposed to support department). value, adding a sales charge, and redeeming it at a slight discount or at book value. 152 operating expenses, costs operating surplus gastos, costos de explotacion, operacion, supenivit de explotacion, operacion funcionamiento The expense, other than financing, of carrying on Operational Assistance - OPAS [UNDP] the normal activities of an enterprise. asistencia operacional - ASOP operating income, profit operational cut-off; effective cut-off; operational ingresos, utilidades de explotacion, de operacion threshold limite practico para recibir financiamiento de operating lease laAIF contrato de arrendamiento operativo The maximum limit above which a country A lease where the asset is not wholly amortized normally does not receive IDA financing. In during the obligatory period (if any) of the lease, theory, countries below the formal eligibility and where the lessor does not rely for his profit on threshold can receive IDA financing but, with the the rentals in the obligatory period. In other words, exception of a few small island economies, do not. the payments received under the lease do not necessarily cover the purchase price, and the lessor operational department [IBRD] expects to take the asset back and re-lease it or departamento de operaciones resell it. Operating leases are often offered by equipment manufacturers rather than finance Operational Manual Statement - OMS houses. documento del Manual de Operaciones operating leasing agreement operational, operations research acuerdo de arrendamiento de equipo para investigacion operativa, de operaciones operaciones Agreement with terms of at least three years where operational review the lessor leases capital goods to a lessee and estudios operacionales where rental payments are at least in part dependent on the production, revenues or profits of operational threshold see operational cut-off the investment project. Considered as a type of non-equity direct investment for the purposes of operational travel MIGA viajes oficiales relacionados con operaciones operating losses Operations & Maintenance - 0 & M perdidas de explotacion, de operacion funcionamiento y mantenimiento operating profit, income opportunity cost ingresos, utilidades de explotacion, de operacion costo de oportunidad, de sustitucion The value of something forgone. For example, the operating program [IBRD] direct opportunity cost of a man-day of labor is programa de operaciones what the man would otherwise have produced had he not been taken away from his usual occupation operating ratio to be employed in a project. coeficiente de operacion; coeficiente neto de [see also social opportunity cost] explotacion The operating costs before debt service, option bond see multiple currency option bond depreciation and other financing charges, divided by operating revenues. option value valor de opcion operating subsidy The value given to keeping an asset (particularly subsidio, subvencion de explotacion, de an environmental one) for possible future use. operacion, de funcionamiento 153 oral procedure [ICSID] official development assistance. This concept actuation, procedimiento oral used by the OECD to measure flows from DAC countries to developing countries and to oral rehydration therapy - ORT multilateral organizations. terapia de rehidratacion oral A method of treating victims of acute diarrhoea by outage [electricity] given them, orally, fluids containing oral interrupcion del servicio; apagon rehydration salts which contain special substances to combat rehydration, such as sodium chloride, outgrower glucose, trisodium citrate or potassium chloride. agricultor con pequena(s) explotacion(es) satelite(s) orderly marketing arrangements * OMA Smallholder who manages his own crops but is disposiciones de comercializacion orden ada linked to a nucleus estate in the form of either a In international trade, a market*sharing pact that processing plant or a plantation. The central unit restricts competition and preserves shares in provides technical assistance, inputs and national markets for local manufacturers who marketing services and the outgrowers sell their would otherwise lose out to cheaper or better products through this unit. products from abroad. outlay account see income and outlay account ordinary share see common share outlier organizational fine tuning valor atipico ajuste institucional Datum that is greater than five standard deviations from the mean. organizational structure estructura organica outlier project proyecto aislado organization expenses; formation expenses A one-ofI project. gastos (iniciales) de constitution Any cost incurred in establishing a corporation or out-of-school education other form of organization, such as incorporation, educacion extraescolar legal and accounting fees, promotional costs, etc. Education taking place outside of schools, colleges These constitute an intangible asset. and universities and aiming to develop knowledge, skills and attitudes that are not normally given original issue discount (OID) bond prominence in formal educational institutions. bono emitido con descuento Bond with a rate of interest below that demanded out-of*season crop; off-season crop by the market place and sold at a price at a cultivos de (uera de estacion, de temporada significant discount to par. outpatient treatment original member [MIGA] tratamiento ambulatorio miembro fundador Full member, i.e. has signed and ratified the outplacement Convention and paid initial capital subscription reubicacion; recolocacion prior to adoption of Resolution No. 12. output origin tax producto; production; egresados impuesto de origen outreach activities other official flows - OOF actividades de extension, de divulgacion otras corrientes oficiales; otros flujos oficiales Activities by a central authority (government, The transfer of resources from donor governments World Bank) to establish contact with and assist to developing countries which are not classified as people or small business in provincial areas. 154 outreach post overage loan centro fuera de la sede prestamo para cubrir posibles excesos de costos Local representative for an outreach program. A special loan issued to cover excess costs on a project. outreach program program a de alcance exterior, de extension, de overdesign divulgacion diseiio demasiado ambicioso; disdo excesivo Program by a central authority (central para las necesidades government, World Bank) to establish contact with and assist people or small business in rural areas. overdraft facilities servicio de sobregiro outreach worker trabajador, funcionario de extension, de overemployment divulgacion; promotor sobreempleo; hiperempleo; exceso de empleo Worker engaged in an outreach program. overexpenditures outright sale gastos superiores a los previstos venta simple, al contado overexposure outsourcing; sourcing concentracion excesiva de riesgos de contratacion de uno 0 varios servicios, financiamiento adquisicion de bienes, etc., fuera de la empresa, etc. overflow basin The process whereby an institution, corporation, cuenca de rebalse etc. has an entire service carried out by an external Swampy area between river levees and valley company or purchases its entire needs in a specific sides, set aside for the diversion of floodwater. area from an outside company. overgeared outstanding bonds, securities, shares, stock endeudado en exceso honos, valores, acciones en cireulacion Capital stock in the hands of the public. overgrazing pastoreo excesivo outstanding drawings [IMP] giros pendientes de reembolso; total, monto neto overhang de los giros exceso de oferta; excedente; sobrante; saldos In the International MonetaI)' Fund, the total pendientes amount of credit outstanding under the different Excess, normally of supply over demand. Fund policies and facilities. [see also debt overhang] outstanding external debt overhaul [equipment] deuda extern a pendiente reparacion general de equipo outstanding loans overhead capital prestamos pendientes capital social fijo; capital nacional fijo [see also social overhead capital] outward-looking, outward-oriented country pais orientado hacia el exterior overhead costs; overheads gastos generales overaccruals An actual cost of doing business that cannot be cargos contables excesivos associated directly with the production of a certain Recording more money than was actually spent in product. a set of accounts, for an item. 155 overinvestment owners' equity see stockholders' equity exceso de inversiones; inversion excesiva ownership (of a corporation) overlay [highways] los propietarios de las acciones; control recubrimiento; revestimiento mayoritario [see also equity ownership] overnight funds fondos de un dia para otro ownership (of programs) Short-teon funds borrowed to be returned by the autoria; identificacion following business day. ownership structure (of a company) overnight maturity estructura, composicion del capital social vencimiento de un dia para otro own price elasticity; price elasticity overrun see cost overrun; time overrun elasticidad-precio; elasticidad con respecto aI precio overseas allowance The change in quantity (demanded or supplied) bonificacion, prima por trabajo en el exterior which results from a given change in price. overshoot ozone-depleting potential - ODP exceder el objetivo potencial de agotamiento de la capa de ozono - PAO overshooting A measurement of the potential harm of the ozone ajuste excesivo layer of each Chlorofluorocarbon, based on the life span of the CFC and the number of chlorine overstaffed atoms it contains. con exceso de personal ozone-depleting substance - ODS oversubscription [capital markets] sustancia que agota la capa de ozono suscripcion en exceso de la emision Substance that contributes to destruction of the ozone layer. Cf greenhouse gas; ozone oversupply depletion. oferta excesiva ozone depletion over-the-counter market; curb market agotamiento de la capa de ozono mercado extrabursatil, fuera de bolsa The destruction of ozone molecules in the ozone Market for securities· not listed in any of the layer by chemical reaction with materials released exchanges (about 80 percent of total securities in from human activities, including chlorofluoro- the U.S.). In the U.S. includes U.S. Government carbons and halons. and agency issues, state and local government bonds, railroad bonds and shares, many public ozone hole utility bonds and shares, and most corporation and agujero en la capa de ozono; adelgazamiento de bank shares. la capa de ozono A large area over Antarctica discovered to have a over-the-counter securities seasonal reduction of some 50% in stratospheric valores extrabursatiles, fuera de bolsa ozone as a result of the release of ozone-depleting substances. Subsequent discoveries suggest an own, to ozone hole may be forming in the Northern asumir como propio Hemisphere. E.g. the Government must own the program. 156 ozone layer capa de ozono An area of the stratospheric ozone about 12 to 30 miles in altitude where the intensity of short wavelength ultraviolet light from the sun is high enough to convert normal oxygen (02) to ozone (0 3). ozone sink pozo de ozono Atmospheric zone where ozone reacts with nitric oxide to form nitrogen dioxide and oxygen. 157 Panel member [ICSID] integrante de la Lista (de Conciliadores 0 de -P- Arbitros) Panel of Conciliators, Arbitrators [lCSID] Pacific Rim countries Lista de Conciliadores, de Arbitros paises del areo del Pacifico panel of experts package grupo de expertos conjunto, serie de disposiciones, equipos, proyedos, actividades, financiamiento; paper [financial] programa de medidu, etc. efectos; valores [see also bid package; financial package; [see also commercial paper; eligible paper; minimum package project; new money packages; financial paper; government paper; money market policy package; rescue package; slice and package] paper] package coverage [MIGA] paper profit cobertura global utilidades en libros Coverage of a combination of types of risk. parallel economy; black economy; underground package deal contract economy; submerged economy contrato global economia subterranea, paralela A variant of the turnkey contract. Transactions for goods and services not declared to the tax authorities and not appearing in the gross paid-in (share) capital; called up (share) capital national product. capital pagado The total amount of cash, property and services parallel financing contributed to a corporation by its stockholders financiamiento paralelo and constituting a major balance-sheet item. Cofinancing, but with the partners financing different parts of the project. paid-in capital subscriptions [mRD] monto pagado de lu suscripciones de capital parastatal [noun] [BIRF] entidad, institucion, organismo, servicio paraestatal paid-up capital capital pagado, totalmente pagado parchment coffee That part of the issued capital of a company which cafe pergamino the subscribers have been required to pay. Coffee which is dried but unhulled. paid-up stock; fully paid stock parent body acciones pagadas organo, organismo principal Stock fully paid for (i.e. upon which no further subscription installments are due). parent company sociedad, empresa matriz panel data set tabla de conexiones de datos Set of survey respondent data, obtained from the same group of respondents over a period of time. 158 Pareto optimum participative management optimo de Pareto administracion, gestion participatoria A state of the economy in which all economic resources are allocated and used efficiently, such participatory development that it is impossible to make anyone economically desarrollo participatorio, con participacion better off without making someone else Development where people influence development economically worse off. decisions that affect them. pari passu clause participatory poverty assessment - PP A chiusula pari passu evaluacion de la pobreza con la participacion de Clause in loan agreement precluding los afeetados subordination of the loan to other debt. In the issue of new shares, it states that the new shares participatory rural appraisal, analysis - PRA will rank equally for dividend with an existing evaluacion con la participacion de los similar issue. habit antes de las zonas rurales parity price particulate matter - PM precio de paridad particulas A price which is sought or maintained. For an In water, solid matter, in either solid or dissolved agricultural product, quantity of the goods and states. In air pollution, solid particles or drops of services which could have been purchased with the liquid carried by air or other gases. proceeds of a given amount of the product in a reference period is determined. Parity exists today partly knocked down - PKD if the proceeds from the same amount of that parcial mente montado product can purchase the same goods and services. Components of a piece of machinery that have only been partially assembled. Part I countries [mRD] paises de la Parte I partner countries In the World Bank, those member countries who paises asociados, que mantienen reladones are considered as developed countries and no comerciales longer entitled to Bank lending. partnership Part II countries [mRD] sociedad simple, colectiva; asociacion paises de la Parte II In the World Bank, those member countries that party (to proceeding or to the dispute) [ICSID] are considered as developing and therefore entitled parte (en el procedimiento 0 en la diferencia) to borrow from the Bank. par value partial budget paridad; valor a la par (monedas); valor presupuesto parcial nominal (valores) A budget that addresses itself to only part of an When applied to capital stock, a stated amount of enterprise. money by which the stock is known for accounting and tax purposes. The market value of the stock participation certificate; pass-through certificate seldom bears any relationship to its par value. certificado de transferencia de prestamos When applied to bonds sometimes used Certificate representing an interest in a pool of interchangeably with maturity value. funds or in other instruments. pass rate; promotion rate [education} participation rate; labor force penetration tasa de promocion tasa de actividad The extent to which those of working age are actually working. 159 pass-through audit [ffiRD] payline evaluacion ex post abreviada de un proyecto curva salarial The line connecting the midpoints of a given pass-through certificate see participation salary structure. Also used for the line connecting certificate market pay data for several grades, at a given level. pass-through effect efecto secundario payload carga 6til pastoral association - PA asociacion de pastoreo comunitario payment arrears A legally recognized, voluntary association of atraso(s) en los pagos; pagos en mora pastoral livestock owners who use a common area for grazing and frequent the same water points for payment basis, on a the purpose of managing natural resources (water, a titulo oneroso graze and other vegetation), for the procurement of inputs and services and the selling of products. payment bond [US] fianza de pago pastoralist A bond executed in connection with a contract to pastor nomad a assure payment as required by law of all persons supplying labor and material under the contract. patching; spot improvement, patching; road, surface patching [highways] payment-in-kind - PIK bacheo; reparacion de baches pago en especie pattern farm plan payment guarantee plan modelo de presupuesto de finca garantla de palO A guarantee executed in connection with a payable on demand contract to assure payment as required by law of pagadero a la vista, contra presentacion all persons supplying labor and material under the contract. pay-as-you-eam - PAYE; pay-as-you-go [taxation] retencion (de impuestos) en la Fuente payment schedule plan de pagos pay-as-you-go system [social security) Timetable for payment by the purchaser to the sistema (0 planes) de reparto; regimen de pagos supplier/contractor. con cargo a los ingresos corrientes A method of accounting for an unfunded pension payments position (ofa country) plan in which payments to the pension plan situacion de pagos (de un pais) beneficiaries are made from current receipts and not from previous contributions. payout date fecha de desembolso payback period Date on which a due periodic payment, such as pJazo de amortizacion, de reembolso; pJazo de payment on a bond or a stock dividend, is made. recuperacion (de inversiones) payout price paying agency fee precio neto comision del agente pagador Difference between the face value of a bond and Fee paid by borrower in the financial markets, the net value received by the bondholder, after representing costs incurred in having the deducting commission. borrowing serviced by an agent. 160 payroll construction costs is paid and, once approved, no nomina matching of inputs to payment is required. payroll contributions percentage point aportes punto (porcentual) payroll tax perfect competition; pure competition impuesto sobre nominas competencia perfecta peak load perfection (of security) carga de punta inscripci6n; registro (de valores) Registration of a security. peak (load) shaving [electricity] recorte de la demanda de punta performance actuacion; desempeiio; resultados; peer monitoring comportamiento; rendimiento; eficacia; etc. fiscalizacion por los pares [see also economic performance; financial Having neighbors who are in a good position to performance; institutional performance; project monitor the borrower be required to pay a penalty performance (audit) report; tax performance ratio] if the borrower goes bankrupt. performance audit peg, to (prices, interest rates) evaluacion de resultados vincular; fijar performance bond peg out, to [swveying] fianza de cumplimiento marcar; trazar; piquetear A bond put up by a contractor to protect the employer from any breach of contract. This penalty clause practice is particularly prevalent in the United chiusula penal, punitiva States, where performance bonds are provided by A clause in a legal instrument providing for the insurance companies. The bond usually gives the assessment of a penalty under certain stated guarantor the option of remedying a specific conditions. default by the contractor, performing the contract in his place or paying the beneficiary what it costs penstock [hydroelectricity] to have the contract performed, up to a certain tubena, canal de presion, de carga limit of money. A closed conduit which supplies water under pressure to a turbine. performance budget presupuesto por funciones pent-up demand A budget of outputs, as in a planning, demanda reprimida programming, budgeting system (PPBS) but often without the accompanying relations to longer PIE ratio; price/earning ratio range accomplishments that form an integral part relacion p recio-utilidades of most PPBS budgets. per capita income performance chart; working table; management ingreso, renta per capita, por habitante chart diagrama, grMico de situacion percentage (fee) contract (consultants] A chart comprising numerical data which contrato a porcentaje, de honorario porcentual indicates the current performance of an A contract where the cost of consulting services organization or part of an organization or an are directly related to project construction costs or individual. a ceiling thereof. A percentage of the approved 161 perfonnance contract performance security [contracts] contrato-plan; contrato con fines especificos garantia de cumplimiento, contra el riesgo de celebrado entre el gobierno y el sector privado incumplimiento A security in the fonn of a performance bond or perfonnance evaluation [personnel] bank guarantee at an amount specified in the evaluacion; calificaci6n bidding documents required in a contract to protect the owner in case of breach of contract by perfonnance guarantee [consultants] the contractor. garantia de cumplimiento A security in the fonn of a performance bond, perfonnance specifications bank guarantee, cashier's check, certified check or especificaciones de funcionamiento cash at an amount specified in the bidding documents required in a contract to protect the perfonnance work statement - PWS owner in case of breach of contract by the (documento de) especificacion de servicios contractor. laborales Statement defining the contractual perfonnance perfonnance indicators required of a vendor providing labor service indicadores del desempeiio, de la actuacion requirements such as custodial services, construction trades, etc. Perfonnance Management Process - PMP proceso de evaluacion del desempeiio (del performing assets funcionario) activos redituables, productivos World Bank personnel evaluation system. periodic health assessment - PHA perfonnance monitoring evaluacion medica periodica fiscalizacion, seguimiento, observacion del desempeiio, de los resultados (periodic) review clause chiusula de examen (periodico) perfonnance period A clause in a loan agreement, particularly periodo de cumplimiento de obligaciones policy-based lending, which gives the lender the During a workout program for a country with right to determine periodically whether the stated protracted arrears, the period prior to clearance of objectives are being met and whether any problems arrears when the country's perfonnance, including have been encountered. If problems occur, further compliance with a Bank-approved structural disbursement may be withheld. adjustment program, is monitored by the Bank. This perfonnance period must be satisfactorily permanent assets see capital assets completed before the country is eligible for regular Bank lending. perpetual bond bono perpetuo Perfonnance Planning and Review - PPR [ffiRD] A bond which pays agreed-upon interest (sistema de) pJanificacion y evaluacion del indefinitely. It has no maturity date. desempeiio (del funcionario) System set up by the Bank for evaluating staff personal history [medicine] perfonnance. An individual perfonnance plan is historia clinica set up every year and reviewed at the end of that year. Now replaced by the Performance personal stock see registered share, stock Management Process (PMP). Personnel Manual Statement perfonnance requirements [contracts] documento del Manual del Personal requisitos de desempeilo, cumplimiento, funcionamiento pest and disease control lucba contra plagas y enfermedades 162 phase out, to piggyback financing eliminar, suspender por etapas, financiamiento concatenado progresivamente Financing studies for a future project as part of a loan to finance another project usually in the same phase out period [mRD] sector. periodo de eliminacion gradual de los prestamos del Banco piggyback project Gradual period by which a country is graduated proyecto concatenado from the Bank. pioneer industry phase out program [mRD] industria pionera, de vangoardia programa de eliminKion gradual de los prestamos del Banco pioneering research Gradual program by which a country is graduated investigKion inicial, de avanzada from the Bank. piped water Philippines formula [MOy] agoa corriente, por tuberia formula de Filipinas A formula (named after the first country to use it) pipeline loan, credit whereby under the maintenance of value system a prestamo, credito en tramitacion country may repurchase the local currency value of its capital subscription with a currency acceptable pipeline of projects; lending pipeline; project to the Bank. pipeline proyectos en tramitacion, en reserva phosphate rock; rock phosphate Projects which have advanced beyond the stage of fosforita; roca fosfatada appraisal mission departure, i.e which are expected to be in the forthcoming year's lending physical contingencies program. asignacion para excesos de cantidades fisicas pipeline project physical facilities proyecto en tramitacion, en reserva instalaciones Project in pipeline of projects. physical infrastructure pipeline ratio, lending infraestructura fisica coeficiente de proyectos en reserva Projects past appraisal as a percentage of next physical investment year's lending program. inversion en activos fijos pit latrine physical planner letrina de pozo planificador de obras, de instalaciones pit privy physical planning letrina de pozo planificacion del espacio fisico pithead power plant Physical Quality of Life Index - PQLI central electrica en la zona de una hocamina indice de la cali dad material de la vida Indexes which attempts to evaluate quality of life planning see aggregative planning; blueprint by combining life expectancy at age one, infant planning; comprehensive planning; development mortality rate and literacy rate, each with equal planning; family planning; indicative planning weight. figures; land use planning; mandatory planning; manpower planning; Performance Planning and Review; physical planning; planning forecasts 163 planning forecasts plus sum game; positive sum game previsiones para fines de planificacion juego de suma positiva planning, programming, budgeting system - PPBS point see basis point sistema de planificacion, programacion y presupuestacion - Sppp point source [environment] A budget, usually for a government agency, in fuente puntual which the budget items are grouped under various An identifiable and confined source of discharge programs. of pollutants. plant see base load station; biogas plant; biomass policy-based assistance (power) plant; coal fired power station; diesel (medidas de) politica; politicas; asistencia en (fired) power plant; oil fired power station; pithead apoyo de politicas power plant; steam plant; step-down power station; step-up power station policy-based lending; policy loans [mRD] prestamos, financiamiento en apoyo de plant and equipment reformas de politicas instalaciones y bienes de equipo Loans made in support of policy and institutional changes, rather than for specific projects. plant breeder see breeder Normally given under the structural adjustment and sector adjustment lending programs. plant breeding fitogenetica policy framework marco normativo; marco de politic as; plant cover normativa cubierta vegetal policy package plant population conjunto de medidas de politica densidad de siembra policy paper planting material documento de politica (sectorial, financiera, material vegetativo; material de propagacion etc.) pleadings [ICSID] political entrepreneurship presentaciones [demandas, a1egatos, etc.] iniciativa, motivacion (politica) Having a "political entrepreneur" who motivates pledge (of shares) [IFC] others, engenders trust, and mobilizes tangible promesa de participacion en el capital benefits to cooperation in the interest of collective accionario action. It is a key element in common property management. pledging promesa de contribuciones poll tax; head tax; capitation tax (impuesto de) capitacion plot servicing instalation de senicios en los lotes; polluter urbanizacion de lotes contaminadores (personas, industrias) plowed-back profits polluter-pays principle - PPP utilidades reinvertidas principio de quien contamina paga Principle whereby a polluter has to pay to clean up the damage his pollution causes. 164 pollution haven pool unit pais que pennite la contaminacion sin numerario del fondo comun de monedas restricciones A synthetic currency unit used as the nurneraire Countty which allows companies to pollute with for the currency pool. In practice, it is the few or no restrictions. constant 1980 dollar. polychlorinated biphenyl - PCB port authority bifenilo policiorinado - BPC direcci6n, administration, autoridad portuaria Aromatic compounds used as insulating and cooling agents, plasticizers and in paper and ink port charges, tariffs manufacture. They are very stable and are found tarifas portuarias extensively in the environment. port dues; harbor dues, fees polycyclic aromatic hydrocarbons - PAH derechos portuarios hidrocarburos aromaticos policiciicos - HAP Charges for the use of the port by the ship and its Aromatic ring compounds found in coal, tar and cargo. petroleum. They are emitted by combustion- related activities, including cigarette smoking. port of entty price see cost, insurance and freight port of enttylborder point price polycyclic management ordenacion policiciica port of shipment price see free on board port of Forest management system which is designed to shipment price limit the damage to advanced regeneration of commercial species that will become the final port tariffs, charges timber crop after 20-30 years. It relies on efficient tarifas portuarias monitoring of stand development, with thinning Specific charges for port services such as berth where necessary to favor the growth of promising occupancy, aids to navigation, pilotage, towage, individual timber trees. cargo handling, power and water supply, etc. pool see also borrowing pool; currency pool portfolio cleanup saneamiento de la cartera Pool-Based Lending Rate System [ffiRD] sistema de tipos de interes basados en una testa portfolio equity de emprestitos pendientes inversiones de cartera Lending rate system using the pool-based variable lending rate. portfolio equity investments inversiones de cartera en capital social, pool-based variable lending rate [ffiRD] accionario tipo de interes variable basado en una cesta de Investment in money market funds, depository emprestitos pendientes receipts, and direct purchases of shares by foreign ffiRD lending rate where the lending rate on all investors. outstanding balances is adjusted every six months to achieve a given spread above the average cost of portfolio income outstanding borrowings. ingreso(s) de los valores en cartera pooled loan portfolio sale prestamo incluido en el sistema de fondo comun venta de valores en cartera demonedas A loan included in the currency pooling system. portfolio securities valores en cartera pooling nnion; centralizacion 165 positive list power system Iista positiva red de energia electrica List of imports defined as critical to a specific program. power takeoff - PTO toma de fuerza positive sum game; plus sum game An attachment, usually consisting of a shaft and Juego de suma positiva two or more universal joints, which is used to transmit power from a tractor to an attached unit post appraisal mission such as a combine or hay baler. mision de evaluacion complementaria practical nurse posted price [oil] enfermero(a} auxiliar, no dipJomado(a) precio de lista, cotizado, de cotizacion A written statement of crude petroleum prices practice school see demonstration school circulated publicly among sellers and buyers of crude petroleum in a particular field in accordance preamble to an agreement; recital of an agreement with historic practices and generally known by preambuJo de un convenio sellers and buyers within the field. preappraisal posted values evaluacion preliminar precios en plaza Qista de) preappraisal mission postgraduate studies mision de evaluacion preliminar estudios de posgrado; estudios posteriores aI primer titulo universitario precedent conditions [legal] condiciones previas postqualification ofbidders Conditions which must occur for a subsequent posealificacion de licitantes event to take place. Frequently found in Determination of capability and financial international contracts. resources of a successful bidder who has not been prequalified. precipitator; dust collector; dust separator precipitador pour flush latrine An air pollution control device usually using letrina de sifon mechanical/electrical means to collect particulates from an emission. poverty gap brec:ha de pobreza predatory price It measures the transfer that would bring the precio desleal income of every poor person exactly up to the poverty line, thereby eliminating poverty. predevelopment work [oil] actividades previas a la explotacion poverty income threshold; poverty line linea de pobreza; umbral de pobreza predicated variable; predictor The minimum acceptable level of standard of variable independiente, predictiva living in a given country or region. predictor; predicated, independent, explanatory power plant, station see base load station; biogas variable; fixed variate; regressor [statistics] plant; biomass (power) plant; coal fired power variable independieote, predictiva station; dendrothermal power plant; diesel (fired) If a relationship between two variables x and y is power plant; oil fired power station; pithead power interpreted in a causal way such that changes in y plant; steam plant; step-down power station; step- are said to be caused or explained by changes in X, up power station then x is the predictor. 166 preemptive rights see first refusal rights prematuring anticipacion del vencimiento preference, preferential margin; margin of preference premier borrower see prime borrower preferencia; margen de preferencia Preference given to certain goods and services of premium local origin in a contract. (see also inflation premium; price premium; [see also domestic preference] quality premium; standby premium] preferred provider organization (PPO) system premium sistema de prestador preferido - Spp recargo; bonificacion Health care system where care is provided by allowing participants to choose among premium, at a participating professional, who are paid on either a con recargo fee for service or capitation (fixed amount per participant per year) basis. premium [MIGA] prima preferred stock Sum charged by MIGA for each guarantee, acciones preferenciales, preferentes, preferidas calculated on an annual basis as a percentage of Stock which has a claim upon the earnings (and the amount of guarantee. sometimes upon the assets and control) of a corpo- ration prior to the common or other class stock. premium [securities] prima; agio prefinancing The difference between the par value and the prefinanciamiento; financiamiento previo higher market value of a security expressed as a percentage of the par value. pre investment study, survey estudio de preinversion premium [stocks] prima de emision preliminary application for guarantee [MIGA] Difference between the face value and the selling solicitud preliminar de garantia price of the share when the selling price is higher. An initial application for a MIGA guarantee, to be made before the investment is made or irrevocably premium on prepayment (mRD] committed. It sets forth the information MIGA prima por reembolso anticipado needs to make a provisional determination that the investor and the investment appear eligible for premium sale MIGA guarantees. See notice of registration, vents con prima definitive application for guarantee. preparatory school; feeder school; contributory preliminary design, engineering school pianos preliminares; estudios tecnicos escuela preparatoria preliminares prepayment [lBRD] preliminary estimates of quantities reembolso anticipado estimaciones cuantitativas preliminares prepoolloan preliminary question [ICSID] prestamo anterior aI sistema del fondo comun cuesti6n previa demonedas Loan made before the introduction of the currency prematured loan pool (prior to 1980). prestamo cuyo vencimiento se ha anticipado Loan that matures before time initially specified. 167 prequalification documents were not and could not have been fully anticipated documentos de precalificacion at the time of budget preparation. prequalification of bidders presumptive taxation precalificacion de licitantes impuestos sobre la renta presuntiva, premnta In procurement, determination of the technical and Lump sum taxation paid in advance. financial capacity of potential bidders to perform the contract. prevailing market rate tipo, tasa vigente en el mereado pre-reading prelectura prevalence [disease] Learning about the nature and function of print, prevalencia reading commons signs and labels, learning letters and some sounds and writing one's name. price adjustment clause; price escalation clause; escalation clause present value, worth clausula de ajuste de precios valor actual, actualizado Clause in a contract that states that price An amount which, taking into account the earning adjustments will be made in the event changes power of capital over time and the difference in occur in major cost components of the contract time between the present and some future date, such as fuel, labor, equipment and materials. would be equivalent today to an expenditure or receipt at such a future date; the result of price contingencies discounting a future value to the present by the asignacion para mas de precios appropriate discount rate. price differential, spread present worth of an annuity factor margen, diferencia entre los precios valor actual de una anualidad constante How much 1 received or paid annually is worth price-earning ratio; PIE ratio - PER today. relacion precio-utilidades Market price per ordiruuy share divided by preseIVation forest earnings per ordiruuy share after tax. It expresses bosque totalmente protegido the market value placed on the expectation of Forest designated for total protection of future earnings. representative forest ecosystems in which all forms of extraction are prohibited. price effect efecto en, sobre los precios pre-shipment inspection inspeccion previa aI embarque price elasticity; own price elasticity Inspection of procured goods before they are elasticidad-precio; elasticidad con respecto aI shipped. precio The change in quantity (demanded or supplied) pre-shipment price inspection which results from a given change in price. verificacion de precios previo aI embarque A new Bank requirement in international price escalation clause see price adjustment clause competitive bidding, whereby prices are checked, prior to shipping, by a third party inspection price ex factory see ex factory price company, to ensure that they are accurate and competitive. price fixing fijacion de precios; fijacion ilicita de precios President's Contingency (entre productores) resenta del Presidente A fund, usually one percent of the Budget, used to meet resource demands during the budget year that 168 price freeze price taker congelacion de precios pais que no influye en los precios intern acion ales price incentives A party to a transaction in which the price was incentivos de precios determined by natural forces of competition. The seller wanted a higher price, while the buyer price inelasticity wanted a lower price; neither could influence the inelasticidad con respecto aI precio price because it was determined by the market. When there is no change in quantity (demanded or supplied) as a result of a change in price. price to factory precio puesto en fabrica price leader, setter, maker que impone los precios priced bill of quantities estimacion cuantitativa con precios price level accounting; general price level Detailed list of the work to be done, as priced by accounting the contractor, based on quantities estimated by contabilidad seg6n el nivel general de precios employer and engineer. price maintenance see resale price maintenance pricing policy politica de precios; politica tarifaria price maker, setter, leader que impone los precios pricing system [financial markets] A seller who dominates to the extent that when it sistema de fijacion de tipos, tasas de interts changes prices, its competitors make similar changes. primal city ciudad principal price premium sobreprecio primary commodity, product producto primario, basico price quotations [contracts] A commodity which has not yet undergone any cotizaciones significant degree of processing, e.g. natural rubber, raw wool, etc. price range escala, gama de precios primary deficit; noninterest deficit dtficit primario; deficit excluido el pago de price schedule [procurement] intereses lista de precios Deficit which excludes all interest payments and A document containing an itemized breakdown of which therefore only measures current deficit the goods or services to be provided with a rather than current and past deficits. statement of the unit prices applicable. primary exporting country price setter, maker, leader pais exportador de productos primarios que impone los precios primary health care price spread, differential atencion primaria de (la) salud margen, diferencia entre los precios Health care based on practical, scientifically sound and socially acceptable methods and technology, price support made universally accessible to individuals and sosttn, apoyo de precios families in the community through their full participation and at a cost that the community and price swing the country can afford to maintain. fluctuacion, oscilacion de precios 169 primary producing country prisoner's dilemma [economics] pais de produccion primaria dilema del prisionero Theory which compares naked self-interest with primary product, commodity cooperation. producto primario, buico private benefit-cost ratio - PBC primary reserves relacion costos-beneficios privados resen'as primarias Funds which a bank keeps for immediate use as private final consumption expenditure - PFCE opposed to secondary reserves which are not for gasto de consumo final privado immediate use but can be quickly converted to Discretionary expenditure by individuals. money. private sector assessment - PSA prime bill estudio (de evaluacion) del sector privado valor, efecto de primera cJase Assessment carried out by the Bank to identify A bill of excbange in which the parties have high opportunities and obstacles facing private sector credit ratings. development. prime borrower; premier borrower private voluntary organization - PVO prestatario preferencial, preferente, de primera organizaci6n privada de voluntarios clase The most creditworthy type of borrower. privatization vouchers cupones para la privatizacion prime contractor; principal, main contractor Vouchers used in the voucber privatization contratista principal, primario system. prime rate privy see aqua privy; pit privy tipo preferencial; tasa preferencial privity [legal] prime underwriting facility (PUF) see revolving relacion contractual (bipartita) underwriting facility The principle whereby only the two parties to a contract have a contractual relationship and no principal third party is involved in this relationship. principal; capital (de un prestamo) problem loan [IFC] principal contractor; prime, main contractor prestamo problematico contratista principal, primario procedural law; adjective law principal (income) earner derecbo procesal, adjetivo, de forma principal sosten economico The bodies of principles and rules of law other than the substantive law dealing not with the principal economist rights and duties of persons but with the means economista principal whereby those rights and duties may be declared, vindicated or enforced, or remedies for their principal exchange rate linked securities notes infraction ensured. Includes court procedure, rules pagans con pago del principal vinculado a los relating to the jurisdiction of different courts, tipos de cambio de diversas monedas pleading, evidence, appeal, execution of judgements, legal aid, conveyancing, costs, etc. Principles of StafIEmployment [World Bank] principios relativos al empleo del personal procedural orders [ICSID] disposiciones procesales printout impresi6n, impreso (de computadora) 170 proceedings through the manufacturing stream and are not deliberaciones, acta de sesion(es); actoaciones used directly by consumers. (juridicas) producer price proceeds precio al productor; precio recibido por el importe, fondos de un prestamo 0 credito; productor producto The price of a unit of output of some commodity as it leaves the establishment of the producer. It process chart see flow chart includes any indirect tax or subsidy levied on that output before it leaves the establishment. process control control de proce80s industriales producer price equivalent - PPE equivalente de subvencion de precios al process engineering productor ingenieria de procesos The value of transfers to farmers generated by agricultural policy. These are paid either by processed consumers in the fonn of market price support or multicopiado by taxpayers via direct payments and other Refers to a document that has been distributed in support. Measures the aggregate assistance to an unpublished fonn. producers before deduction of farm feed adjustment. processing of a loan tramitacion del (de un) prestamo producers' values [national accounts] valor a precio de productor processing The value in the market of the gross output on elaboracion; transformacion; tramitacion; commodities, industries, etc at the establishment tratamiento; etc. of the producers; or the sum of the values of direct inputs, intennediate inputs at purchasen' values procurement see bulk procurement and indirect taxes less subsidies in respect of the commodities, industries, etc. procurement agent agente de adquisiciones product in hand contract Finn which specializes in handling international contrato "producto en mano" procurement and acts on behalf of contract Turnkey contract which detennines the awarding authority in a bid. characteristics of the final product to be manufactured. Procurement Manual Statement - PMS documento del Manual de Adquisiciones production build up aumento de la produccion procurement (procedures) procedimientos de adquisicion production forest bosque de produccion producer gas Forest designated for sustainable production of gas pobre forest products. A low-energy gaseous fuel, generally produced from coal, whose principal combustible production possibility curve; transfonnation curve components (carbon monoxide and hydrogen) are curva de posibilidades de produccion; curva de generally diluted by air. transformacion A graphic representation of the various output producer goods combinations of two commodities which can be bienes de produccion produced from a given quantity of resources. Goods manufactured for use in making other goods but which do not themselves continue 171 production-sharing contract profit squeeze contrato de participacion en la produccion reduccion de los margenes de utilidad Contract where the contractor makes contributions to the investment project and his remuneration profits tax substantially (but not necessarily wholly) depends impuesto sobre las utilidades, los beneficios on a share of the production of the investment project, including his right to purchase such share program aid at a predetermined price or a price to be asistencia, ayuda para programas determined under an agreed formula. Considered as a type of nonequity direct investment for the program budget purposes of MIGA. presupuesto por programas A PPBS budget which emphasizes long-range productive capacity planning and associated accomplishments and capacidad de produccion resource requirements. product mix program contract combinacion de productos; composicion de la plan contractual produccion; estructura de la produccion A concept developed in France and now used in Senegal, Cameroon and other former French product wage colonies. They are performance contracts salario-producto between Government and companies generally covering a period of three years, which set annual profit and loss account [UK]; income statement targets for the company (covering physical [US] production, operating efficiency, billing recovery, estado de ingresos y gastos, de perdidas y employee training, etc.) and establish reciprocal ganancias commitments by the Government (e.g. agreement on tariff levels, investment support, increased profit center [accounting] managerial autonomy, etc.). They are indicative centro de uolidades rather than legally binding. A responsibility center which accumulates revenues as well as costs. program evaluation and review technique - PERT ticnica de evaluacion y revision de programas - profit making PERT con fines de lucro A tool of managerial economics used both in planning a project and in monitoring it. A PERT profit margin chart shows each task to be performed, the time margen de utili dad, de beneficios each will require, the prerequisites and other information. profit on sales of investments utilidad sobre la venta de inversiones program loan, lending prestamo, financiamiento para programas profit sharing Bank loan given not for a specific project but to participacion en las utilidades help a country overcome unforeseen temporary difficulties which would otherwise result in profit-sharing contract [MIGA1 inappropriate long-term policy adjustments to contrato de participacion en las utilidades correct short-term balance of payments problems. Contract where the contractor makes contributions to the investment project and his remuneration substantially depends on the revenues or profits of the investment project. 172 program objective category - POC project appraisal categorias prlncipales del programa de evaluacion (inicial) de un proyedo, de proyedos operaciones The main areas covered by the Bank's operation project area program. Currently they are poverty reduction, zona del proyedo adjustment and debt, human resources development, private and public sector project audit, evaluation development, environment and forestry, financial evaluacion ex post de un proyecto, de proyectos intermediation, natural resources, infrastructure and urban development and economic project brief management. datos basicos de un proyecto In Bank projects, the basic issues-oriented program of special emphasis - PSE operational document relating to the early part of program a de atencion especial the project cycle. It is short (2-6 pages) and Program that the Bank is giving special priority to, focuses on a project's development objectives, covering such areas as debt management, human policy or other issues and the preparation work resources, women in development, environment, required. food security, poverty alleviation and private sector development. project completion report - peR informe de terminacion del proyecto, de Program of Targeted Interventions - PTI proyectos - ITP Program a de intervenciones dirlgidas A report prepared within six months of the completion of loan/credit disbursements which progress certificate [IBRD] highlights strengths and weaknesses of the project estado de pagos (certificado) and draws appropriate lessons for the Bank for future projects. progress chart grftfico de ejecucion project cycle [see also construction progress chart] cicio del proyedo, de los proyectos The sequence of analytical phases through which a progress payment project passes. pago parcial; pago a cuenta Payment made as work progresses under a contract project design on the basis of costs incurred, percentage of diseno, formulacion, preparacion de un completion or a particular stage of completion. proyecto, de proyectos progress report~ status report project enterprise [MIGA] informe sobre la marcha (de un proyedo), sobre empresa del proyedo; empresa receptora del la labor realizada, sobre las actividades proyedo A corporation, association, partnership or any project advance account other entity which holds title to, or the power to cuenta de anticipos para la preparacion de un dispose of, the assets contributed to the Investment proyecto Project. project agency project evaluation, audit organismo del proyecto; organismo responsable evaluacion ex post de un proyedo, de proyedOS del proyecto project fund agreement project agreement convenio sobre financiamiento para el proyecto convenio sobre el proyedo Agreement whereby a lender agrees to lend funds for a specific project. project aid asistencia, ayuda para proyedos 173 project identification project rent identification, determinacion de un proyecto, de utilidades netas derivadas de un proyecto proyectos Income derived from a project. project implementation review - PIR project supervision examen de la ejecucion del (de un) proyecto supenrision de un proyecto, de proyectos Semi-annual Bank-wide report on how projects have been implemented. project unit unidad del proyecto Project Information Brief - PIB documento de informacion sobre el proyecto promissory note pagare project life An unconditional promise in writing made by one duracion, vida util, de un proyecto person to another signed by the maker, engaging to pay, on demand or at a fixed or determinable project loan, lending future time, a sum of money to or to the order of a prestamo, financiamiento para un proyecto, specified person, or to bearer. para proyectos promotion rate; pass rate [education] project management tasa de promocion administracion de proyectos Rate at which students pass to the next higher grade. project management unit - PMU [IBRDJ unidad de administracion del proyecto property income [government] ingreso(s), renta(s) proveniente(s) de project manager propiedades publicas director, administrador del proyecto property income [individuals, corporations] project officer ingreso(s) de la propiedad, del patrimonio oficial del proyecto, de proyectos proprietary good, item project performance audit memorandum - PP AM articulo patentado 0 de marca registrada memorando de evaluacion ex post de un proyecto proprietary interest interes mayoritario project performance audit report - PP AR An ownership interest, as in the interest held by an informe de evaluacion ex post de un proyecto equity holder in a company or a patent holder who A report which provides a preliminary review and licenses use of the patent by others. evaluation of a project at the end of the execution phase. proprietary rights derechos de propiedad project pipeline; pipeline of projects; lending pipeline proprietary training proyectos en tramitacion, en resenra enseiianza privada con metodo(s) patentado(s) Training offered by private, for-profit firms. project preparation preparacion, elaboracion de un proyecto, de pro rata commitment authority limitations proyectos limites a la facultad para contraer compromisos impuestos por el principio de proporcionalidad 174 pro rata recall prudential supervision and regulation reintegro a pro rata, proportional normas de distiplina y control; supervision y Currency recalls for outstanding loans whereby regiamentation major cWTencies would be recalled in proportion to the amounts that remain outstanding on each of prudent man rule these loans (as opposed to the previous system norm as de prudente discretion where the order of the currency recalled was In a trust arrangement, one of the frequent determined by the Bank). This new system was limitations of the trustee's actions; it states that the introduced in January 1990. trustee may make investments "only in such securities as would be acquired by prudent men of pro rata rules [IDA] discretion and intelligence in such matters who are printipio de proportionalidad seeking a reasonable income and the preservation Rules which state that other donors may maintain of their capital." proportionality vis-a-vis the US in the amount of contribution released for commitment. prudent shopping comparacion de precios; obtention de prospectus [financial markets] cotizationes prospecto A document containing all the pertinent public borrowing, offering information about a public offering of securities oferta publica; emision ofrecida al publico and about the borrower. It is made available to the appropriate legal authorities, stock exchanges, and public (capital) expenditure the prospective investors by the lead manager. gastos publicos de capital protected forest public corporation bosque protegido; bosque de protection empresa, sociedad publica provision [accounting1 public debt resen'a; asignation deuda publica provision for losses; reserve for losses; loss public economics provision economia del sector publico resen'a para perdidas public enterprise rationalization loan - PERL provisional measure [ICSID] prestamo para racionalizacion de empresas medida provisional publicas World Bank loan to help rationalize the finances proxy of a public enterprise. sustituto; sustitutivo; representativo; poder (juridico) public enterprise reform loan - PERL prestamo para reforma de empresas publicas proxy [ffiRD lending rates] World Bank loan to help reform the finances of a cantidad representativa (de los emprestitos del public enterprise. BIRF contraidos antes del initio del sistema de tipos de interes basados en una cesta de public enterprise rehabilitation loan - PERL emprestitos pendientes) prestamo para rehabilitacion de empresas publica, prudential constraints World Bank loan to help rehabilitate the finances limitationes por razones de prudencia of a public enterprise. public offering, borrowing oferta publica; emision ofrecida aI publico 175 public sector borrowing requirement - PSBR purchasing power parity - PPP necesidades de financiamiento del sector paridad del poder adquisitivo publico An exchange rate adjustment that changes a The total excess of expenditure over revenue for currency's foreign purchasing power after there all government entities, which must be financed by has been a change in that currency's domestic new borrowing net of repayment of previous debts. purchasing power. public tender; open tender purchasers' values [national accounts] licitacion publica valor a precio de comprador The cost of goods and services in the market to the public utilities point of delivery to the purchaser. Equals senicios publicos producers' values plus the trade and transport margins appropriate to the purchaser in question. public utility corporation empresa de senicios publicos pure competition; perfect competition competencia perfecta public works; civil works obras civiles pure IDA countries paises que sOlo reciben financiamiento de la AD publicly guaranteed debt deuda con garantia publica pure stand cultivo unico, de un solo tipo 0 especie publicly held government debt A stand of trees in which at least 80 percent of the deuda publica del Estado, en poder de trees in the main crown canopy are of a single particulares species. publicly issued (bonds, etc.) pure time preference see rate of pure time (bonos, etc.) emitidos mediante oferta publica preference publicly traded company pure variety; true to type variety [agriculture] sociedad cuyas acciones se cotizan en bolsa variedad pura A variety that is like the parental type, without pull-down menu change. menu desplegable push inflation see cost-push inflation pull inflation see demand-pull inflation put option pump priming policy [economics] opcion de venta politica de reactivacion A contract which entitles one party to it, at his Government policy of spending during a recession option, to sell a specified amount of securities or in order to put money into the economic stream so commodities to the other party, at the price fixed that spending power will continue and economic in the contract, during the life of the contract. expansion will follow. "put right" guarantee pumping station see booster pumping station garantia de funcionamiento de acuerdo con las especificaciones garantizadas pupil-teacher ratio - PTR.; student-teacher ratio - STR; teacher-pupil ratio relacion, coeficiente alumnos-profesor, alumnos por profesor Total students enrolled in primary and secondary levels divided by number of teachers in the corresponding levels. 176 qualified opinion {auditing] dictamen con reservas -Q- An auditor's opinion that indicates that the auditor has found deficiencies in the financial statements, as regards the accounting (e.g. reservations on qualified agreement to reimburse acceptability of the accounting policies and their acuerdo, convenio condicional de reembolso consistent application) or auditing (e.g. timing of Agreement given by the Bank to a commercial appointment after valuation of inventories or bank to enable a borrower to make purchases other assets) or there is significant uncertainty due, under a loan agreement prior to disbursement of e.g. to the outcome of major lawsuits or other the funds. The guarantee is qualified and the Bank contingent liabilities. has the right to cancel its guarantee should the loan be suspended or cancelled. qualifying shares [See also irrevocable agreement to reimburse.] acciones habilitantes Stock, possession of which enables the holder to qualified bidder buy further stock at a predetermined (reduced) Iicitante calificado price. A bidder for a contract who has prequalified, i.e. who has been deemed capable of performing a qualitative coinsurance particular contract satisfactorily based on past coaseguro cualitativo performance, quality of staff and equipment and Insurance involving two or more underwriters financial position. with the different underwriters underwriting different risks pertaining to the same project. qualified borrowing(s) [currency pool] emprestitos calificados quality loan [mRD] Originally, borrowings by mRD after July 1, 1982 prtstamo de cali dad (i.e. based on the pool-based variable lending A Bank loan which has been carefully prepared rate), using proxy borrowings. Under the current and is financially viable. system (May 1989), they are defined to exclude borrowings that are determined by the Bank to quality premium fund investments and any new differentiated loan prima de, por calidad product should the Bank wish to offer one in the future. The extraction of borrowings that fund quantitative coinsurance investments would be made separately for each coaseguro cuantitativo currency. The term Qualified Borrowings 1982 is Insurance involving two or more underwriters used to describe the old system. with the different underwriters underwriting separate tranches of a single large risk. qualified guarantee garantia condicional quantity surveyor estimador, medidor de materiales qualified instrument of commitment instrumento de compromiso condicionado quantity theory of money Agreement by a member country to pay its teoria cuantitativa del dinero subscription and contribution in part, with the Theory holding that the overall level of prices is remainder subject to enactment by its legislature of proportional to the size of the money supply. A the necessary legislation. key monetarist theory. qualified majority quantum index mayoria calificada in dice de volumen 177 quasi-equity cuasicapital Includes equity-like instruments and other forms of loans that have the form of equity or equity that has the form of loans. An example is equity with a put agreement, i.e. unlike normal equity, the investor requires return of the equity, for example, in five years at ten percent interest. quasi-money see near money quayage; wharfage; wharfage charges; dockage mueUaje queuing theory, problem teoria, problema de las colas Mathematical techniques including probability theory used in operations research to identifY, illustrate and, it is hoped, influence the characteristics of queues, whether of people, materials, work-in-progress, etc. quick assets see liquid assets quick disbursing (loan); fast disbursing (loan) (prestamo) de rapido desembolso quick ratio see acid-test ratio quick yielding project [ffiRD] proyecto de rapido rendimiento A project which brings a more rapid return than usual, i.e. after only a few years, and often means faster disbursements. quiet emergency see sLow onset emergency 178 rate basis conversion conversion de la clase de interes -R- Option in IFC loan that allows the borrower to convert from a variable rate to a fixed rate loan or vice versa. radial reductions reducciones arancelarias radiales rate contract Method of reducing a tariff structure whereby at contrato a precios unitarios each stage all tariffs are reduced to an equal A contract for the supply of goods at specified fraction of their previous levels. rates during the period of the contract. radiative forcing rate of exchange see buying rate of exchange forzamiento radiativo; variaciones climaticas inducidas por la radiacion solar rate of pure time preference Changes in the climate due to changes in solar tasa de preferencia pura en el tiempo radiation. Solar sunspots and the greenhouse The interest rate at which consumers are willing to effect are examples. forgo present consumption in order to save, presumably for future consumption. rainfed de secano; de temporal [Mexico]; de rulo rate of return [Chile] tasa de rentabilidad, de rendimiento [see also economic rate of return; equalizing rate rain forest of return; financial rate of return; incremental rate bosque hiimedo, pluvial; selva pluvial of return; internal rate of return; required rate of [see also tropical rain forest] return; social rate of return] raise, to (funds, etc.) rated capacity obtener, movilizar (fondos, etc.) capacidad de disei'io, nominal, de regimen random sample rating agency muestra aleatoria, aI azar organismo de clasificacion de valores Organization that evaluates the credit rating of rangeland prospective borrowers on the securities markets. tierra de pastoreo ratio see accounting ratio; acid-test ratio; range management affordability ratio; Bruno ratio; capital-labor ratio; ordenacion de tierras de pastoreo capital-output ratio; capital-service ratio; cost- benefit ratio; current ratio; debt-equity ratio; debt- rank correlation coefficient see Spearman's rank to-capital ratio; debt-to-equity ratio; debt ratio; correlation coefficient debt-service ratio; dependency ratio; enrollment ratio; entrepreneurial benefit-cost ratio; equity ratchet effect ratio; feed conversion ratio; fill ratio; financial efecto de trinquete ratios; gearing ratio; grade ratio; gross (primary) The idea that at the beginning of a recession enrollment ratio; housing expenses/income ratio; consumers try to maintain the same level of import coverage ratio; incremental capital-output spending and investment. ratio; input-output ratio; interest coverage ratio; interest service ratio; land equivalent, equiValency ratcheting up ratio; land use ratio; leverage (ratio); liquidity atza, subida por efecto de trinquete ratio; liquid ratio; long-term debt ratio; minimum cash ratio; modified Bruno ratio; net energy ratio; 179 operating ratio; price-eaming ratio; private real terms, in benefit-cost ratio; pupil-teacher ratio; quick ratio; en terminos, cifras reales reserve ratio; risk asset ratio; smoothness ratio; staffing ratio; stripping ratio; taxlGDP ratio; tax realized price [oil] performance ratio; tax ratio; teacher-pupil ratio; precio efectivo, de realizacion volatility ratio; working capital ratio; working The price actually obtained on the world market ratio for sales concluded. rational expectations rebar [= reinforcing bar] expedativas racionales barra de refuerzo A theory based, first, on the assumption that indi- Bar used for reinforcing concrete. viduals and companies will try to maximize their own welfare -- that is, they will try to make their recall [MOV] own economic and other circumstances as reintegro desirable as possible -- and, second, that, as individuals and companies make economic recall installments [MOV] decisions in their own interest, they do so in such a pagos parciales por concepto de reintegro way that markets move towards equilibrium, easing inflation. recall under loans [MOV] reintegro de los montos en prestamo raw data datos brutos, sin elaborar recapture clause c1ausula de recuperacion raw water Clause in a loan agreement that allows a lender to agua bruta, cruda, sin tratar recover part or all of his previously lent assets if economic circumstances improve. rea:fforestation; reforestation reforestacion; repoblacion forestal receivables; accounts receivables cuentas por cobrar real assets bienes inmuebles, raices; activos reales received energy energia recibida real effective exchange rate tipo de cambio efectivo real recession Nominal effective foreign exchange value of the recesion dollar (a trade-weighted exchange rate) multiplied by the ratio of the US consumer price index to the recession crop foreign consumer price index. Below 100 the cultivo de decrecida dollar depreciates in real terms; above 100 it Crop planted on land which has recently been appreciates in real terms. flooded. real estate developer recession, recessive cultivation promotor inmobiliario; urbanizador cultivo en recesion Cultivation in an area where the amount of land real estate equity available for cultivations is being reduced due, e.g. participacion en inversiones inmobiliarias to desertification. real sectors recipient country sectores productivos pais receptor, beneficiario The nonfinancial sector. 180 reciprocal debt recovery deuda recfproc:a recuperacion; reactivacion recital of an agreement; preamble to an agreement recurrent costs, expenditures preaimbulo de un convenio gastos, costos ordinarios (en presupuestos); gaslos periOdicos reclaim Costs for items consumed immediately or used up bonU!acar;recuperar;sanear in a comparatively short period, usually a year. reclamation see land reclamation recurrent education; lifelong education; continuing edcation recognition and enforcement (of award) [ICSID] educacion permanente reconocimiento y ejecucion (de un laudo) recycling (of capital) recommendation domain reciclaje; recirculacion (de capital) aimbito de aplicacion de las recomendaciones redeemable reconciliation account rescatable; redimible; amortizable cuenta de recollciliacion Account which shows any difference between two redemption or more accounts. rescate; redencion; amortizaeion reconciliation item [accounting] redeployment cost partida de reconciliacion costo de conversion, de modificacion Item in account that reconciles the differences The cost of switching one type of loan to another, between two or more accounts. e.g. from a fixed rate loan to a variable rate loan. reconcile redeployment cost [IFC] conciliar; reconeiliar cargo por reinversion The cost levied by IFC and representing its cost of reconnaissance survey reinvesting a prepaid loan at a lower interest rate. estudio preliminar redeployment (of funds) reconstitution reasignacion, redistribueion (de fondos) conversion inmediata Immediate conversion of interest payments red herring issue received in a currency other than a pool currency emision exploratoria into a pool currency. An issue of bonds made on an experimental basis. reconstruction import credit - RIC rediscount credito para importaeione! con fines de redescontar; redescuento reconstruction Resale of instruments such as banker's acceptances already discounted by lender, usually record owner with central bank or discount house, at a price less propietario registrado than the face value. A person who has title to a property, though not necessarily beneficial use of it. Cf. beneficial rediscount ceiling owner. limite de redescuento recoupment [insurance] reducing charge method see declining balance resarcimiento method 181 redundancy [staffing] exceso de personal; reduction de personal; reembolso; refinanciacion prescindencia; supresion de puestos regional integration arrangements reference rate of exchange [MIGA] acuerdos regionales de integraeion tipo de cambio de referenda The effective average rate of exchange applied by register see land register the central bank or other foreign exchange regulatory authority of the host country for the Register [ICSID] exchange rate category concerned on the date of Registro loss to conversion of the local currency into guarantee currency. registered [vehicle] matrieulado; inscrito reference zone; target zone [foreign exchange] zona de referenda registered (e.g. tradesmen) A wide zone of exchange rates, perhaps plus or inscrito; registrado; automado minus 10 per cent, within which a currency can freely move against other currencies. Suggested at registered bond the New York Plaza Agreement at the Group of bono nominativo Five meeting, 9/85 and proposed by the French A bond whose ownership is recorded by the issuer. Treasury 2/86, as a way to reduce major currency swings. registered capital; share capital capital social, accionario, en accionel referral remision; envio registered nurse enfermero(a) diplomado(a) refinancing refinanciacion; refinanciamiento registered security valor, titulo nominativo reflation A security whose ownership is determined by the reflacion name in which it is registered as opposed to a bearer security whose ownership is determined by reflecting pool who possesses it. fondo indicativo [fondo comun de monedas] Concept of movements in the currency pool registered seed reflecting movements in the three main currencies semilla registrada constituting the pool (US dollar, yen, mark). This The progeny of foundation or registered seed. concept enables borrowers to predict changes in the currency pool by watching changes in these registered share. stock; personal stock three currencies on the world markets. acciones nominativas Stock which cannot be transferred without placing reforestation; reafforestation the signature of the owner upon the books of the reforestacion; repoblacion forestal issuing corporation and delivery of the certificate. Establishment of trees on ground that has been cleared of trees. registrar [ICSID] registrador reform see land reform registration [Stock Exchange] refresher course inscripdon corso de repaso; curso de adualizadon (para refrescar los eonocimientos) regrading [highways] renivelacion 182 regrading [personnel] rehabilitation import credit, loan - RIC, RIL reclasificacion credito, prestamo para importaciones con fines de rehabilitacion regraveling; graveling Loan, credit to support policies to stabilize the recubrimiento, aplicacion de grava economy and reactivate growth, following a period of economic decline caused inter alia by regress see economics of regress inappropriate policies. regression equation reimbursable budget ecuacion de regresion presupuesto para programas reembolsables An equation expressing average relationships One of three Bank budgets, it is for funds used to between two or more variables. cover costs on behalf of outside agencies under biJIing agreements. regressor; predictor variable independiente, predictiva reinforcing bar; rebar An independent variable in a regression analysis. barra de refuerzo Bar used for reinforcing concrete. regrowth reb rote reinsurance reaseguros regular appointment [ffiRD] Form of insurance used by insurance companies nombramiento ordinario, permanente for their own protection, whereby they share insurance risk with other insurance companies. regular budget The risk they share may either be in the form of an presupuesto ordinario individual risk (facultative reinsurance) or a One of three Bank budgets, it is for funds used to large number of risks (treaty reinsurance). cover the administrative expenses of the Bank. release see block release regular lending program [ffiRD] programa ordinario de financiamiento release [ICSID] The Bank lending program that includes the base fasdculo lending program and the standby program. release, to [capital] regular share entregar; Iiberar acdon ordinaria Share of IBRD capital stock other than those relend, to allocated as membership shares. represtar; prestar de nuevo (el importe de un prestamo) regular staff personal permanente relief socorro; auxilio; alivio; etc.; desgravacion Regulations and Rules (of the Centre) [ICSID] (fiscal) Reglamento y Reglas (del Centro) relocation grant regulatory agency asignacion, subsidio por traslado organismo regulador remeasurement contract see unit price contract rehabilitation rehabintacion; reorganizacion; modernizacion; remedy see legal remedy etc. 183 remittances repeat financing transferencias [empresas]; remesas financiamiento complementario [see also workers' remittance] rephasing of a debt; debt rephasing; rescheduling remote sensing of debt teledeteccion; teleobservacion reprogramacion (del servicio) de la deuda renewable energy replacement cost energia, energeticos renovable(s); energia, costo de reposicion, de sustitucion eoergeticos de fuentes renovables replacement level [population] rent see economic rent; project rent nivel de reemplazo, de renovacion rent recovery index [projects] replacement value see current (entry) value Indice de recuperacion de la renta economica The proportion of the economic rent created by a replenish (an account), to project that accrues to project beneficiaries and is reponer; reconstituir recovered from them. replenishment of resources rent-seeking reposicion de los recursos [AD]; reconstitucion (sistema de) captacion de rentas de los recursos The addition of funds to IDA. The Eleventh repayment bond Replenishment starts fiscal year 1997. fianza de reembolso Form of performance bond issued by a bank as a replicability repayment guarantee. posibilidad de repeticion, de duplicacion repayment guarantee report (of Commission) [ICSID] garantia de reembolso acta (de la Comision) Form of guarantee whereby the guarantor undertakes, in the event of default by the principal, reported debt to pay the beneficiary an amount advanced or paid deuda notificada by the beneficiary to the principal in accordance with the contract between them. They are reporting country generally issued by banks. pais declarante, informante repayment schedule reporting requirement(s) plan de amortizacion requisito(s) en materia de informes repeater loan reporting system [projects] prestamo complementario sistema de preseotacioo de informes repeater project representations proyecto complementario declaraciooes Project in the same sector and same country as a previous project. representative office [bank] representacioo repeater rate [education] tasa de repeticion repression see financial repression The rate at which students repeat a grade. 184 repurchase agreement reservation salary, wage acuerdo de recompra saJario de reserva Arrangement by banks and other institutions to The minimum wage at which a worker will accept borrow short-term (usually one day) money by work. transferring securities to the lender, with the agreement that they will buy them back. reserve see legal reserve request for proposal - RFP reserve against losses solicitud de propuestas reserva para perdidas Requesting Organization [ICSID] reserve asset organismo solicitante activo de reserva Those funds which constitute reserves in a bank. required rate of return - RRR tasa de rentabilidad requerida, exigida reserve center centro de reserva requited transfer Country or area where significant financial transferencia con, de contrapartida reserves are held. Transfer of resource or financial item between two countries that is counterbalanced with a similar reserve currency transfer in the other direction. moneda, divisa de reserva The name given to a foreign currency which a resale price maintenance - RPM government is prepared to hold as part of its imposicion de precios por el fabricante foreign exchange reserves. This is used tor Agreement whereby manufacturers independently financing international trade. or collectively specify minimum prices at which their products could be resold by wholesalers and reserve for contingencies; allowance for retailers. contingencies; contingency allowance reserva para imprevistos, contingencias rescheduling of debt; rephasing of a debt; debt An amount of retained earnings earmarked for rephasing; debt rescheduling general undetermined contingencies or for any reprogramacion (del servicio) de Ja deuda indefinite possible future losses. rescue package reserve for depreciation; allowance for programa, conjunto de medidas de rescate, de depreciation; depreciation allowance salvamento asignacion, reserva para depreciacion A valuation account set up to allow for the resealing [highways] depreciation in an asset. reseHado reserve for losses; provision for losses; loss research and development - R&D provision investigacion y desarrollo reserva para perdidas An amount of retained earnings earmarked for research-push innovations; upstream innovations any indefinite future losses. innovaciones inducidas por Ja investigacion reserve money; base money reservation price (of labor) base monetaria; dinero primario precio de reserva The minimum price at which an individual is reserve operations [lending program] willing to offer a good or service. Often applied to operaciones "en reserva" labor, it is the lowest wage at which an individual Lending operations on which initial preparation is is willing to offer his or her services. being undertaken but which have not been appraised. 185 reserve position resource( s) gap posicion de reserva(s); situacion de las reservas deficit, insuficiencia, brecba de recursos Imports of goods and nonfactor services minus reserve ratio [banking] exports of goods and nonfactor services, or the coeficiente de reservas, de Iiquidez resource balance with the opposite sign. The fraction of demand deposit money which a commercial bank must keep in its reserve resource-neutral account. This ratio determines the maximum sin efecto sobre los recursos amount of money a bank may loan out. In the United States, the legal reserve requirement is responsibility center [accounting] imposed by the Federal Reserve on depository centro de responsabilidad institutions. The reserves (cash maintained in a Any organizational unit accountable to higher bank's own vault or claims on cash on deposit with authority for performance of assigned functions, compulsory or optional depositories) for usually including its incurrence of specific costs transaction accounts are 3% on $25 million or less under budget limitations and control. and 12% for larger sums. responsive reserve requirement ... que se ajusta (a las estipulaciones), normas, encaje legal; reserva obligatoria etc.; que tiene en cuenta. .. reserved procurement restocking adquisicion reservada (a proveedores, reposicion de existencias contratistas nacionales) Under the Bank's procurement guidelines, restraint policy procurement that the client wishes to reserve for politica de austeridad local suppliers or contractors, where it would have been attractive to international competition. restricted currency moneda de uso restringido resettlement grant The portion of capital subscriptions paid in the asignacion, subsidio por reasentamiento, por currencies of members and usable by IBRD in its reinstalacion lending operations only with the consent of the respective members. resident mission mision residente restricted distribution distribucion reservada resident office ofieina del representante residente restricted release (of 18% currency) Iiberacion restringida (de los montos del 18%) resource balance Release by Bank member of its 18% currency for balanza de recursos lending or relending, with some restrictions, such The difference between exports of goods and as the requirement that the funds only be used in nonfactor services and imports of goods and the currency concerned without being converted or nonfactor services. are only used for initial lending and not indefinite lending and rei ending. resource based industries industria basada en recursos naturales Restricted Toxic Materials List - RTML Lista de Sustancias Toxicas Probibidas resource envelope A list of toxic materials that may not be used in presupuesto Bank projects. In budgeting, an overall expenditure limit for a unit. The unit can then decide how it allocates restrictive trade policy individual expenditures within this envelope. politica comercial restrictiva 186 resubmission [ICSID) retirement of outstanding debt resometimiento (en el senti do del Art. 52[6] del reembolso, rescate (anticipado) de la deuda Convenio) [see also debt retirement) resurfacing [highways) retraining renovacion de la superficie readiestramiento retail banking retrieval servicios bancarios para consumidores recuperacion Traditional banking operations conducted with the general public. retroactive financing; retrofinancing financiamiento retroactivo retail training Reimbursement by the Bank of expenditures made formacion en el propio pais by the borrower before the date of signing a loan Training of officials directly in the country by their agreement, as an exception to normal financing. compatriots rather than abroad by ED! or others. It is subject to a fixed cutoff date, before which expenditures are not eligible for Bank financing. ret:tined earnings utindades no distribuidas retrofinancing see retroactive financing Accumulated net income, less distributions to stockholders and transfers to paid·in capital ac- retrofitting counts. renovacion; reconversion industrial [see also custom retrofitting) retainer honorario anticipado return of capital recuperacion del capital retention money The return to the investor of part or all of the retencion en, como garantia; montos retenidos initial investment of capital in a project. en garantia Percentage of each payment retained until the return of investment contract has been completed and the contractor recuperacion de la inversion has fulfilled his performance (and maintenance) obligations. return of labor (lista de) efectivos laborales retention rate; grade ratio [education) A detailed list of the staff and labor employed. tasa de retencion Percentage of students that pass from one grade to return on, to capital next grade. rentabilidad, rendimiento del capital 1. The internal rate of return of the retired debt incremental net benefit after financing. deuda amortizada 2. Net income divided by equity. A debt that has been paid off. return on, to investment retirement (ofa fixed asset) rentabilidad, rendimiento de la inversion baja (de activos fijos) Removal of an asset from service, following its returns; revenues sale or the end of its productive life, accompanied ingresos; rentas; entradas by the necessary adjustment of fixed asset and depreciation-reserve accounts. returns to scale rendimiento a escala; rendimiento en funcion de retirement benefits la escala pension; jubilacion 187 revaluation revenues; returns revaluation; revalorization ingresos; rentas; entradas revaluation factor [currency pool] reverse charge call; collect call; transfer charge factor de revaluacion call A ratio establishing the appreciation or lIamada de cobro revertido depreciation due to exchange rate changes in the U.S. dollar value of currencies in the pool from reverse transfer of technology one date to another. It is calculated by dividing, as transferencia inversa de tecnologia of any day, the total U.S. dollar value at the Transfer of technology from the developing to the exchange rates of that day of the balances of developed countries. currencies in the pool brought forward from the previous day, by their total U.S. dollar value at the review clause; (periodic) review clause exchange rates of the previous day. clliumla de examen (periodico) Clause in a loan agreement which allows the revealed comparative advantage - RCA lender to determine periodically whether stated ventaja comparativa manifiesta, expllcita, objectives are being met. evidente, etc. Concept developed by Bela Balassa, it is measured review mission by an item's share in the country's exports relative mision de exam en to its share in world trade. If the share of the item in the country's exports is more than the revised minimum standard model - RMSM corresponding world share, then the country has a modelo estandar minimo modificado revealed comparative advantage; if less, it has a An IBRD mathematical model of monetary revealed comparative disadvantage. aggregates, covering a few basic economic factors. revenue see current revenues; fiscal revenue; government revenues revolving credit credito renovable, rotatorio, refinanciable revenue account [national accounts] Any line of credit that be borrowed against up to a cuenta de ingresos stated credit limit and into which repayments go for crediting. revenue-earning enterprise empresa productiva, que produce ingresos revolving fund fondo rotatorio revenue recognition A fund for project-related expenditure. registro de ingresos In accounting, when income is deemed to have revolving underwriting facility - RUF; note been received. IFC records dividends, profit issuance facility - NIF; prime underwriting facility participations and fees (other than commitment -PUF fees) as income when received. Income and servicio de emision de pagares - SEP commitment fees are recorded as income on an A medium-term arrangement under which a bor- accrual basis. It does not recognize income on rower can issue short-term paper (Euronotes) loans where collectibility is in doubt and payments backed up by commercial bank underwriting of principal or interest are past due more than commitments. sixty days. rhizomes; rootstock crops revenue sharing rizomas; cultivos de rizomas participacion en los ingresos (fiscales) ribbon check irrigation see border check irrigation revenue stamp timbre fiscal rice see floating rice; floded rice; upland rice 188 rig see oil (drilling) rig risk of expropriation [MIGA] riesgo de expropiacion right of first refusal see first refusal right risk pooling [MIGA] right of way cobertura conjunta de riesgos derecho de via; zona expropiada; servidumbre Sharing of risks among members of an insurance de paso pool. rights issue, offering risk posture emision, oferta de acciones (con derecbo posicion de riesgo preferencial de suscripcion) The degree of risk of an investment. riot [MIGA] risk spread modn margen An assemblage of individuals who commit public acts of violence in defiance of local authority. risk transformation guarantees Covered by MIGA under the war and civil garantias relativas a la transformacion de disturbance category. Cf. civil commotion. riesgos ripple price effects river blindness; onchocerciasis repercusiones de las alzas de precios ceguera de los rios; oncocercosis risk allowance [projects] river channel margen (de precio) en concepto de riesgos cauce, lecbo, canal de un rio An allowance made when funding a project for risks that might occur. ro/ro [= roll-oniroll-ofI] autotransbordo; embarque, desembarque por risk-asset ratio propulsion propia relacion riesgo-activos Ratio between assets held and amount of risk. road base see base [highways] MIGA's risk-asset ratio may not exceed one-to- five. road, surface patching; spot improvement, patching; patching [highways] risk capital; venture capital bacbco; reparacion de baches capital de riesgo Capital invested in high-risk or relatively road pricing high-risk securities and enterprises, in expectation fijaci6n de cargos por el uso de las carreteras of commensurately high returns. It is sometimes used of equities or ordinary stock, the dividend of road user charges which varies with the profits earned by the cargos a los usuarios de las carreteras corporation. rock phosphate; phosphate rock risk contract [oil] roca fosfatada, fosforita contrato de riesgo Contract that typically places all risk and rollback investment on the contractor, who provides desmantelamiento capital for exploration and production. In GATT, the progressive dismantling of all trade restrictions which are inconsistent with GATT. risk management gestion de (los) riesgos rolled (costs) (costos) promediados 189 rOiling back Rules of Procedure for Arbitration Proceedings reducci6n (Arbitration Rules) [ICSID] Reglas Procesales Aplicables a los rolling plan Procedimientos de Arbitraje (Reglas de plan renovable Arbitraje) roll-onlroll-off - rolro Rules of Procedure for Conciliation Proceedings autotransbordo; embarque, desembarque por (Conciliation Rules) [ICSID] propulsion propia Reglas Procesales Aplicables a los Procedimientos de Conciliaci6n (Reglas de rollover Conciliacion) refinanciamiento continuo; renovaci6n 1. Reinvestment of money received from a Rules of Procedure for the Institution of maturing security in a similar security. Conciliation and Arbitration Proceedings 2. Term used for a delay allowed by a lender to (Institution Rules) [ICSID] borrower in making a principal payment on a loan. Reglas Procesales Aplicables a la Iniciacion de With governments, rollovers in the form of los Procedimientos de Conciliaci6n y Arbitraje refundings or refinancings are routine. (Reglas de Iniciacion) rollover credit see revolving credit Rules of Procedure for Meetings of the Executive Directors rollover of gains Reglamento Interno para las Reuniones del reutilizacion de las ganancias Directorio rollover project, program runaway inflation repeticion de un proyecto, programa innacion desenfrenada, galopante root crops running average; moving average rakes alimentarias; cultivos de raices media, promedio movil alimentarias; tuberculos alimentarios The average rate of interest applied to an outstanding loan, based on the rates applied on all rootstock crops; rhizomes previous disbursements, weighted, where rizomas; cultivos de rizomas necessary, to allow for different levels of disbursement. rotating savings and credit association - ROSCA asociacion de ahorro y credito rotatorio running contract Type of savings institution whereby each member contrato por cantidades aproximadas contributes a certain sum each month and the A contract for the supply of an approximate entire proceeds for that month are given to one quantity over or below the approximate quantity individual. Each member takes it in tum to be the mentioned in the contract. This reduces the recipient. holding cost and is normally applied to goods for which prices are not subject to appreciable market roundwood fluctuations. madera redonda running costs routine maintenance gastos de explotacion mantenimiento de rutina, rutinario run-of-mine coal; mine run coal row crops carbOn sin c1asificar, tal como sale, en bruto cultivos en hileras Ungraded coal of various sizes as it comes from the mine. 190 run-of-the-river hydroelectric power plant central hidroeltttrica de agua corriente Hydroelectric power plant that uses water flow as it comes in the river, with little or no storage to allow for modifications in demand or water flow. runoff [water] escorrentia; escurrimiento runoff irrigation riego por escorrentia, por escurrimiento 191 sample survey [statistics] encuesta muestral, por muestreo - S- sanitation saneamiento safe drinking water see safe water Saudi Arabian light (crude oil); light Arabian Safe Motherhood Fund [ffiRDIWHO] crude Fondo para la Maternidad sin Riesgos (petroleo) crudo liviano; ligero de Arabia Saudita Safe Motherhood Initiative [ffiRDIWHO] The world's most prolific crude oil, frequently used Program a para la Maternidad sin Riesgos as a marker crude in establishing the prices of other crudes. safe water; drinking water; safe drinking water agua potable savings and loan association Drinking water. The terms drinking water, safe sociedad de ahorro y crMito; sociedad de water and safe drinking water are used ahorro y prestamo interchangeably. scarcity value safety net valor en razon de la escasez medidas de proteccion social [see also social safety net] scatter chart, diagram; scattergram diagrama de dispersion salaries and wages sueldos y salarios scattered plotting grlifico de dispersion saleability [securities] posibilidad de colocacion schedular tax; scheduled tax impuesto cedular saleable assets activos vendibles schedule anexo [convenios de prestamo 0 credito]; sale from portfolio cuadro; programa; calendario; etc. venta de valores en cartera schedule contract sale of loan maturities contrato con base en una lista oficial de precios venta de vencimientos de prestamos schedule of rates contract sales tax contrato basado en una lista de tarifas impuesto sobre, a la(s) venta(s) A type of unit price contract, paid on the basis of a schedule of rates. It is similar to a bill of salt lick; mineral lick quantities contract but used where the quantity of salegar work to be performed is difficult or impossible to estimate in advance, such as maintenance, drilling salt water intrusion or dredging. intrusion de agua salada Salt water entering fresh water, thereby destroying scheduled tax; schedular tax freshwater sources. impuesto celular salvage value school mapping valor de recuperacion, de rescate levantamiento del mapa escolar, de mapas escolares 192 scrap, to second tier bank desechar; dar de baja; desguazar 1. banco de segunda instancia 2. banco de importancia secundaria scrap value 1. Bank used as secondary source for funds. valor residual, de desecho 2. Smaller lenders, i.e. banks other than the main commercial banks. Used particularly in SDR currencies Latin America. monedas que integran la cesta del DEG second tier country Sea Island cotton; West Indian cotton; Egyptian pais de nivel intermedio cotton; kidney cotton A classification proposed by OECD which covers algodon de Barbados; algodon de las Indias those countries below the newly industrialized Occidendales; algodon egipcio countries but above other developing countries. They are exporters of between $100 million and $2 seasonal credit billion worth of manufactured goods. Include credito estacional Chile, Cyprus, Haiti, Indonesia, Jordan, Macau, Malaysia, Malta, Mauritius, Morocco" Peru, seasonally adjusted Philippines, Sri Lanka, Thailand, Tunisia and ajustado para tomar en cuenta las variaciones Uruguay. estacionales; desestacionalizado secondary education see lower secondary seasonal movements education; upper secondary education variaciones estacionales secondary energy; final energy seasonal peak energia secundaria, final maxima estacional; punto maximo estacional secondary market seasoned securities mercado secundario valores acreditados secondary market mortgage institution second-best optimum institucion de transferencia de hipotecas subOptimo; segunda alternativa If one of the conditions for Pareto optimality secondary recovery cannot be fulfilled, then the best attainable recuperacion secundaria situation (the second-best optimum) can, in general, only be achieved by departing from all the secondary reserves other Paretian conditions. segunda linea de reservas second-best policy secondary securities politica subOptima valores de segundo orden second generation special account - SGSA secondary transmission line; subtransmission line cuenta especial secundaria linea de transmision secundaria, subtransmision Special account set up for use by a specific Transmission line in a subtransmission system, i.e. implementation unit that cannot readily access the one which supplies distribution substations from special account to meet eligible expenditures as bulk power sources, such as large transmission they occur. substations or generating stations. second lowest bidder secondment licitante que presenta la orerta c1asificada en adscripcion; envio en comision de servicio segundo lugar [see also lowest bidder] 193 sector adjustment loan - SECAL; packaging and selling of a pool of creditor in prestamo para (fines de) ajuste sectorial the form of a security". A loan aiming at major policy improvements in a 2. The tendency on financial markets to make sector. greater use of securities, Le. firms issue securities rather than borrow directly from banks. sector GDP PIB sectorial security The contribution to GDP generated by a particular seguridad; titulo; valor; garantia sector. 1. Document giving title to property or claim on income. sector implementation review - SIR 2. Income-yielding paper traded on the stock ex- examen de la ejecucion de proyectos sectoriales change or secondary market. [see also bid security; blue chip security; gilt- sector investment and maintenance loan - SIM edged secuntIes; government securities; prestamo para inversion y mantenimiento marketable securities; outstanding securities; over- sectoriales the-counter secuntIes; performance security; Loan aimed at investing in a particular sector portfolio securities; seasoned securities; secondary maintaining the level of activity in that sector. securities; social security] sector loan security agreement prestamo sectorial, para un sector acuerdo de garantia A loan geared towards a particular sector. security lending secular trend prestamo en valores; financiamiento en valores tendencia a muy largo plazo Lending of securities which the lERD owns (typi- Long-term average of a statistical series, usually cally a U.S. Government obligation) against understood to cover at least three or four receipt of cash or similar securities as collateral in generations. amounts equal to or higher than the market value of the security lent. secure a loan, to garantizar un prestamo; obtener un prestamo security of tenure seguridad de tenencia; seguridad en el cargo; secured loan inamovilidad prestamo garantizado sedimentation ponds securities (custody) account estanques de sedimentacion cuenta de valores (en custodia) Pond where waste water is temporarily stored to allow the solids to settle out. securities dealer; securities firm corredor de valores; sociedad de valores seed see breeder seed; certified seed; field seeds; Firm acting as a principal rather than an agent in foundation seed; registered seed the securities market. seed capital; seed money securities market capital simiente, generador mercado de valores The primary and secondary market for negotiable seed farm equity (stocks) and long-term debt instruments finca, granja (de produccion) de semillas (bonds). seed garden securitization buerta (de produccion) de semillas conversion de activos financieros en valores 1. Issue of securities in exchange for debt. The Bank has used it to specifically refer to "the 194 seed money; seed capital self-financing capital simiente, generador autofinanciamiento seed plant self-financing-ratio - SFR. planta de simiente; planta para semilla coeficiente de autofinanciamiento The rate at which a project is financed from seedling internal resources. phintula; pJanton (de arboles); pJanta de semillero, vivero self-help autoayuda; esfuerzo propio seine fishing pesca (con redes) de tiro self-help housing scheme plan de vivienda por el sistema de esfuerzo seismic survey propio y ayuda mutua estudio, reconocimiento sismico self-insurance seizure [legal] autoaseguro secuestro Act or process of seizing property by virtue of a self-liquidating assets writ or other legal order to satisfy a judgment activos autoliquidables, autoamortizables made by a court under the authority of a legal Assets that will pay for themselves over a period of order. time. selection felling, cutting self-liquidating project tala select iva proyecto que se autofinancia Harvesting of only a small proportion of the Credit reimbursed by the income from the standing crop. operation for which it was lent. Selective Capital Increase - SCI self-reliance aumento selectivo del capital confianza en si mismo; capacidad para valerse An increase in the Bank's capital which does not por si mismo apply equally to all shareholders. The most recent [see also collective self-reliance] one was in 1984. Though always referred to as Selective Capital Increase, the legal document self-restraint calls it Special Capital Increase. autolimitacion; moderacion; autocontrol self-adjustment self-sufficiency autocorreccion; autorregolacion autosuficiencia; autonomia; autoabastecimiento self-care; self-treatment self-sustaining growth autotratamiento; autoterapia crecimiento autosostenido self-contained; free standing self-sustaining state independiente; autonomo situacion de autosostenimiento self-determination self-targeting (commodity) autodeterminacion; fibre determinacion (producto) destinado por so propia indole a determinados grupos de la poblacion self-employed person Basic foodstuffs that are mainly consumed by the trabajador por cuenta propia, independiente, poor. So-called because their target is obvious. autonomo 195 self-treatment; self-care senior debt, loan autotratamiento; autoterapia deuda prioritaria; prestamo prioritario Debt for which claims on the assets of the self-weighting sample borrower rank ahead of other debts in case of muestra autoponderada liquidation. sell down senior economist venta de un credito fuera del consorcio economista superior The transfer of a credit from a bank within a syndicate to a bank outside the syndicate. senior level staff funcionarios superiores seller's market mercado de vendedores; mercado favorable aI senior management vendedor administracion superior selling consortium, group, syndicate senior manager consorcio (bancario); grupo de colocacion; directivo principal; alto (uncionario; grupo vendedor funcionario superior A group of bank or securities dealers involved in placing a security as sellers. Senior Policy Seminar [EOI] Seminario de politicas generales selling rate precio vendedor; precio de venta Senior Policy Seminar on... [EDI] Price proposed (for a security). Seminario de politicas de. •• selling value sensitive product valor, precio de liquidacion, de realizacion producto sensible a la coyuntura semiannual coupon equivalent basis, on a [bonds] sensitivity analysis sobre una base semestral anailisis de sensibilidad A study of the impact that changes in costs and semiknocked down - SKD benefits would have on the profitability or present semimontado value of a project. seminar see Board seminar separation [employment] separacion del servicio seminar paper documento para un seminario septic tank tan que septico; foso septico semipermanent housing vivienda semipermanente sequential cropping see double cropping semipublic company serial bond, loan empresa mixta, semipiiblica, paraestatal bono, prestamo de vencimiento escalonado; bono, prestamo con vencimiento elegido a la semiskilled manpower suerte mano de obra semicalificada 1. Bond issues split into a series of maturities. 2. Special type of serial bonds where semiskilled worker reimbursement is decided by drawing in lots (used trabajador semicalificado in France). 196 service see debt service; fee-for-services basis settlement (of a dispute) [ICSID] arreglo (de una diferencia) service; selvice line; supply line; connection [electricity] settlement date conexion de senicio fecha de cierre, de liquidacion The date on which payment for a transaction must service a loan, to be made. atender el servicio de un prestamo settlement of maintenance of value; maintenance service and support fee [IFC] of value settlement cargo por senicios liquidacion por concepto de mantenimiento del Fee paid by IFC to the World Bank for the services valor it receives from the Bank. settling-in grant [IBRD] service charge subsidio, asignacion para instalacion cargo, comision por senicios Grant provided to assist new staff members in meeting additional expenses (electrical appliances, service industry furniture, car, etc.) associated with relocation to industria de senicios the Greater Washington Metropolitan Area. service line; service; supply line; connection severance pay [electricity] indemnizacion por despido; prestacion, pago de conexion de senicio cesantia service road sewage disposal via, calzada de senicio eliminacion de aguas negras, senidas service station [livestock] sewage (treatment) plant puesto de monta planta de tratamiento de aguas negras, senidas serviceable [highways] sewerage project transitable proyecto de alcantarillado serviced area, lot, site shadow discount rate zona urbanizada; lote con servicios tipo, tasa de descuento sombra, de cuenta Site having essential services. The opportunity cost of capital. servicing [plots] shadow exchange rate - SER; shadow pricing of instalacion de senicios en los lotes; the exchange rate urbanizacion de lotes tipo de cambio sombra; tipo de cambio de cuenta serving chairman The exchange rate that reflects the value of an presidente en funciones additional unit of foreign exchange in terms of the domestic currency as used for domestic session [lCSID] consumption. periodo de sesiones shadow price set aside agreement precio sombra; precio de cuenta acuerdo, convenio de destinacion especial The value used in economic analysis for a cost or a Agreement for payment receipts from a project to benefit when the market price is felt to be a poor be designated for a specific purpose. estimate of economic value. 197 shadow pricing of the exchange rate see shadow share retention agreement [IFC] exchange rate acuerdo de retencion de acciones Agreement, under which a company agrees not to shadow project sell the stock of another company in which IFC proyecto compensatorio has an interest, until the loan has been reimbursed. Project that would provide substitute environmental services to compensate for the loss sharecropping of the original assets. aparceria; medieria shadow rate of interest shareholders' equity see stockholders' equity tipo, tasa de interes sombra; tipo, tasa de interes de cuenta sharing clause Rate of interest used as the discount rate in chiusula en que se estipula que se ban de project analysis. Include consumption rate of com partir los reembolsos interest and accounting rate of interest. Clause in loan agreement that states that if one participant fails to receive payment, the others will shadow wages share receipts with the participant(s) not receiving salario sombra; salario de cuenta payments. A wage rate that is used for measuring the opportunity cost of labor in project analysis. shell (of a building) Three components are used to establish it: forgone obra gruesa marginal product, changes in consumption and savings and changes in leisure. shell company sociedad ficticia; compaiiia de papel shakeout (of the market) Company which exists on paper but does not asentamiento; sacudimiento apparently trade or operate, possibly being used as 1. A moderate stock market or business a cover for illegal or unethical activities. recession, usually corrective of an inflationary condition. shifting cultivation 2. Any movement in the market prices of cultivo migratorio securities that forces speculators to sell their holdings. shifting of tax traslacion del impuesto share see also bonus share; common share; Changing the tax burden so that someone other founder's share; membership shares; outstanding than the person or firm on whom the tax is levied shares; publicly traded share; qualifying shares; pays all or part of it. registered share; stock shift parameter share capital; registered capital parametro de cambio capital social, accionario, en acciones Parameter leading to a movement to the left or Capital represented by shares of capital stock. right of a curve, e.g. a demand curve. [see also authorized share capital] shipping share capital, to supply transPorte maritimo; embarque; envio; etc. participar en eJ capital social shipping conference see liner (shipping) share premium account [IFC] conference cuenta de primas de emision Account of a corporation, in which IFC has a holding and in which the premiums obtained on new shares are deposited. 198 shopping [procurement] sight assets comparacion de precios activos a la vista A procurement method based on comparing price quotations obtained from several foreign or local sight deposit suppliers, usually at least three, to ensure deposito a la vista competitive prices. It requires no formal bidding Deposits held in banks and similar deposit-taking documents and is an appropriate method for institutions which are transferable by check or procuring readily available off-the-shelf goods or withdrawable in cash without notice. standard specification commodities that are small in value. sight liabilities obligaciones a la vista shortfall deficiencia; disminucion; insuficiencia; deficit simplified sewerage sistemas simplificados de alcantarillado short form audit report A modified design of sewer so that the sewers are informe corto de auditoria smaller, shallower and flatter, with fewer A succinct report or letter prepared by an auditor manholes, with no decline in performance but with following an audit. It is addressed to the cost savings of about 30 percent over the costs of management or directors. The short form is conventional sewerage. standard. Cf. long form audit report. single-crop economy short list economia de monocultivo lista final de seleccion single currency loans, [ffiRD] short season (crop) prestamos en moneda unica; prestamo en una (cultivo de) temporada corta sola moneda mRD program where selected borrowers are short staple cotton offered a choice of currencies on their loans as an algodon de fibra corta alternative to the existing standard multicurrency Cotton with fibers of 3/8 to 1 inches long. loan product. The program offers United States dollars, yen, deutschmarks, French francs, and Short Term Economic Monitor [mRD] pounds sterling. Its interest rate will be tied to six- indicadores de las perspectivas economic as a month LIBOR in each loan currency (pmOR in corto plazo the case of French francs). showcase project single-entry accounting proyecto de exposicion contabilidad por partida simple Project designed for prestige, with high unit andlor A system of accounting in which only records of recurrent costs. The Bank does not normally cash and of personal accounts are maintained. support such projects. single factorial terms of trade Siam cotton; tree cotton; Ceylon cotton; China relacion de intercambio de un solo factor cotton Terms of trade incorporating productivity algodon arbOreo changes in the exporting country. Provides a useful indicator of changes in the amount of real smOR [= Singapore Interbank Offered Rate] resources, in the form of capital and labor services, SIBOR (tasa de oferta interbancaria de which a country must give up in order to purchase Singapur) a given volume of imports. side letter; supplemental letter carta complementaria 199 single fertilizer site plan fertilizante, abono lIimple plano del emplazamiento, del lugar A fertilizer containing only one nutrient. sites and services single parent family, household lotell y servicioll familia monoparental The provision of land and basic public services, to enable housing projects to get off the ground. sink: (e.g. of greenhouse gases) lIumidero; medio receptor; zona de abllorcion, sitting [ICSID] de disipacion sellion Receptacle, or receiving area, for materials translocated through a system (e.g. the oceans are sketch plan [architecture] the sink: into which many water-borne pollutants boceto; croquill are drained; the seed of a plant is the sink: in which nutrients are stored). skidding arrastre, deillizamiento de troncoll sinking fund fondo de amortizacion skilled manpower A fund created by a borrower for the purpose of mano de obra calificada redeeming bonds. The borrower is obliged to redeem specified amounts of the bond within skilled worker specified periods. trabajador calificado sinking fund factor skills factor de fondo de amortizacion conocimientoll; experiencia; competencia The level deposit required each year to reach 1 by a given year. The reciprocal of the compounding skills development factor for 1 per annum. Generally obtained from a capacitacion; adiestramiento; formacion set of compounding and discounting tables. This factor permits calculating the equal installment skills mix that must be set aside each year, to be invested at combinacion de especialidadell compound interest, in order to have a predetermined sum at a given time. It is primarily skill training center used to determine how much must be put into a centro de dellarrollo de aptitudes; centro de fund in order to have recovered the amount of an capacitacion especializada; centro de investment at the end of its useful life. perfeccionamiento sister companies slack [economy] [noun] emprellall allociadas, pertenecientell aI millmo capacidad no utilizada grupo; afiliadas slash-and-bum cultivation site metodo de roza y quema lugar, emplazamiento (de un proyecto) Agricultural method involving slashing undergrowth at ground level and felling trees with site coverage axes at any convenient height. The area is then terreno comprendido, cubierto thoroughly burned and crops planted. site development slice [contracts] preparacion del terreno; trabajoll de porcion; componente; etc. urbanizacion In contracts, an individual contract for which a contractor or a manufacturer may bid, rather than having to bid for the whole project. 200 slice and package [procurement] small and medium enterprises - SME; small- and fraccionamiento de adquisiciones medium-scale enterprises - SMSE Project where contractors and manufacturers may pequeiia y mediana empresa - PYME bid for an individual contract (slice) or group of similar contracts (package) rather than the whole small and medium industries - SMl; small- and project. medium-scale industries - SMSI pequena y mediana industria "slice and package" contract contrato fraccionado small-bore sewerage see effiuent sewerage Contract allowing use of slice and package technique. smallholder pequeno agricultor sliding-scale clause chiusula de escala movil smallholding pequeiia explotacion agricola slippage; lag retraso; demora; desfase small-scale enterprise - SSE pequeiia empresa slow onset emergency; quiet emergency situacion de emergencia latente small-scale industry - SSI Emergency which occurs over a period of time, pequeiia industria such as a drought, and which rarely causes much destruction of physical assets. small-scale irrigation pequefia zona, pequeno proyecto de riego sluggish growth crecimiento lento smoothness ratio coeficiente de uniformidad sluice price; sluice gate price; lock gate precio de compuerta [avicultura] snatching effect A theoretical cif price used in calculating efecto de captacion incidental de beneficiarios European Communities supplementary levies on The effect of creating incidental beneficiaries to a imports of pork, poultry and eggs. project as well as those intended. slum social accounting matrix - SAM barrio de tugurios matriz de contabilidad social A system of accounts in which the various slum clearance incomings of each and every account are eliminacion de tugurios, de zonas de tugurios represented by an ordered row and the corresponding outgoings by a similarly ordered slump column. They describe the financial flows that take contraccion; recesion place within and among various institutions and sectors of the economy, each of which is slumpflation disaggregated according to local conditions and recesion con inflacion policy relevance. They integrate data on income Harsh economic conditions created by a distribution and production and are suitable combination of simultaneous recession and vehicles for studying the impact of macroeconomic growing unemployment as well as rapid price policy action on the level of living of different inflation. household groups. slum upgrading mejoramiento de zonas, barrios de tugurios 201 social accounts have been weighted to reflect social cuentas sociales; contabilidad social income~stribution priorities. The systematized treatment of social indicators which represent quality of life conditions in a social opportunity cost country, region or other geographical unit. costo de oportunidad social The opportunity cost to society of diverting social advantages resources from marginal private sector projects to ventajas sociales, colectivas public sector ones. social benefit-cost ratio ~ SBC social overhead capital relaci6n costos~beneficios sociales infraestmctura social social benefits social overhead investment prestaciones sociales inversion en infraestmetura social Investment in social facilities. social costs costos sociales, colectivos social price precio social social dimensions of adjustment ~ SDA The price that reflects the value to the country of aspectos sociales del ajuste inputs and outputs and takes into consideration "non~fficiency" but socially important goals such social discount rate; social rate of discount as reduction of consumption of alcohol, tobacco tasa de actualizaci6n social and fancy cars or expanded production of goods to meet basic needs, etc. social forestry plantacion de bosques comunitarios social pricing Forestry used for community use as opposed to fijacion, determinacion, cileulo de precios private sector forestry. sociales A method of economic analysis which takes into social impact assessment - SIA account savings and consumption. evaluacion de los efectos sociales A kind of ex ante evaluation of a project, where a social rate of discount; social discount rate sociologist examines a development project tasa de actualizacion social prepared by a group of other experts and is asked to make an assessment about whether or not it will social rate of return - SRR have positive or adverse social repercussions. tasa de rentabilidad social The economic rate of return in social prices. social infrastructure; community facilities Social prices are shadow prices which incorporate infraestmctura social; instalaciones social factors such as scarcity of savings, income comunitarias inequality and poverty. social insurance social returns [projects1 seguro, prevision social; seguridad social beneficios sociales social marketing program [population] social safety net programa de ventas subvencionadas red de seguridad social; medidas de protecci6n A program of sales of goods with reduced prices social for special groups. social security benefits social net present value - SNPV prestaciones de (la) seguridad social valor social neto actual, actualizado The net present value of a project after incremental income flows generated by the project 202 social security fund soft loan window fondo, caja de seguridad social senicio, ventanilla para prestamos concesionarios social security scheme plan, sistema de seguridad social soft project proyecto de caracter social social shadow wage rate - SSWR A project of a social nature. salario de cuenta social Shadow wage rate (= shadow price for labor, soft technical assistance see institution-related generally set by estimating the marginal value technical assistance product of labor) in social prices. software social time preference rate componentes logicos; programas; instrucciones; tasa de preferencia social en el tiempo elementos no fisicos A rate, usually expressed in the form of a percentage. that expresses the preference of a softwood forest society as a whole for present returns rather than bosque de coniferas future returns and that sometimes is proposed as a discount rate for project analysis. soil conservation conservacion del suelo social wants necesidades sociales soil study, survey estudio de suelos, edafologico social welfare bienestar, asistencia social sole cropping; monoculture monocultivo social welfare function Cultivation of a single crop as wheat or cotton to funcion de bienestar social the exclusion of other possible uses of the land. socioeconomic status - SES sole source procurement situacion socioeconomica; condiciones adquisicion de un solo proveedor socioeconomicas Procurement from a single vendor, without benefit of competitive bidding. soft component [projects] componente no fisico, de senicios solids-free sewerage see effluent sewerage soft currency solid state technology moneda debit tecnologia de estado solido, de semiconductores, A currency with a falling exchange rate due to de transistores continuing balance of payments deficits. sound loan soft loan prestamo sOlido, seguro prestamo en condiciones concesionarias, blando, liberal sour gas discharge A loan with no rate of interest or a rate of interest descarga de gases acid os, ricos en productos below the cost of the capital being lent. azufrados soft loan affiliate source and use of funds statement see statement of institucion afiliada que otorga el financiamiento changes in financial position en condiciones concesionarias 203 sources and application of funds statement see special budget; extraordinary budget statement of changes in financial position presupuesto extraordinario sourcing; outsourcing Special Joint Financing contratacion de uno 0 varios servicios, financiamiento conjunto especial adquisicion de bienes, etc., fuera de la empresa, Special financing made by several countries etc. (Germany, Japan, Switzerland and the United The process whereby an institution, corporation, Kingdom initially) in addition to contributions etc. has an entire service carried out by an external made directly to the Special Facility for company or purchases its entire needs in a specific Sub-Saharan Africa using arrangements area from an outside company. negotiated directly between IDA and the contributors to be used in countries meeting the Southern Cone eligibility requirements of the Facility with ConoSur repayment terms at least equivalent to IDA terms and with procurement open at least to those sovereign act doctrine countries under the Facility. acto de gobiemo Legal theory according to which the courts of one special majority country should abstain from passing judgment mayo ria especial about the legality of a sovereign act by a foreign state. special operational emphasis - SOE campo de atencion especial de las operaciones sovereign credit, loan Concept introduced in FY88 which provided for credito garantizado por el Estado attention to be focused on priority development A borrowing guaranteed by the state. objectives. Currently includes such areas as the environment, debt and adjustment, poverty sovereign creditor reduction, food security and private sector Estado acreedor development. sovereign risk Special Reserve [World Bank] riesgo soberano; riesgo que plantea el Estado reserva especial prestatario A reserve set aside by the Bank to meet liabilities The risk of changes in a borrowing country's such as defaulting loans, liabilities on borrowings overall foreign exchange position, which might or guarantees, contractual payments of interest, affect its ability to repay a loan. other charges or amortization on the Bank's own borrowings or similar payments on loans sovereign risk loan guaranteed by the Bank. prestamo que entrai'ia un riesgo soberano Loan to a State or loan where the State takes the specialized agency [UN] responsibility for the loan. organismo especializado spate irrigation see flood irrigation specific (customs) duty derecbo (aduanero) especifico Spearman's rank correlation coefficient coeficiente de correlacion por rangos de specific investment loan - SIL [ffiRD] Spearman prestamo para una inversion especifica A measure of the degree to which two variables World Bank loan for a specific investment project. are associated with each other, not necessarily in value but in rank. The coefficient will be between specific petformance +1 (high association) and -1. ejecucion de un contrato seg6n sus terminos 204 specimen of signature see authenticated specimen split degree of signature titulo otorgado por dos universidades Higher education degree split between a local spending ministIy university and top-rated international university or ministerio que efectUa gastos; ministerio de other educational institution. ejecucion sponsor spillover effect, impact; spinoff effect patrocinador; promotor efecto secundario, derivado An effect that occurs when an economic unit not spontaneous lending see voluntary lending directly involved benefits from a transaction, project, etc. spot exchange rate tipo de cambio al contado spillover exports The exchange rate prevailing under a spot exportaciones de excedentes del mercado contract, i.e. delivery in one or two business days intemo or less. Goods nonnally consumed by the domestic market but available for export because of low domestic spot improvement, patching; road, surface demand. patching; patching [highways] bacheo; reparacion de baches spillway chute; tailrace canal de descarga spot market; cash market [foreign exchange] mercado aI contado spinning reserve [electricity] Foreign exchange market where currency is sold capacidad de reserva inmediatamente for immediate delivery. See futures market. disponible That reserve generating capacity connected to the spot market [commodities] bus and ready to take load. mercado de productos disponibles, de entrega inmediata spinoff [financial market] Market where goods are sold for cash, for immedi- cesion, transferencia de adivos (de una ate delivery. sociedad) a cambio de acciones (de otra sociedad nueva) spot patching, improvement; road, surface The transfer by a corporation of a portion of its patching; patching [highways] assets to a newly formed corporation in exchange bacheo, reparacion de baches for the latter's capital stock, which is thereupon distributed as a dividend to the stockholders of the spot price first corporation. precio al contado, para entrega inmediata The price of a commodity available for immediate spinoff effect; spillover effect, impact sale and delivery, the commodity being referred to efedo secundario, derivado as a "spot" commodity. An effect that occurs when an economic unit not directly involved benefits from a transaction, spot quotation project, etc. cotizacion aI contado splicing spotted cotton empalme; enlace algodon manchado Linking different series of data based on slightly Cotton that has been changed in color to a brown, different definitions into a single series. ecru or yellow cast by unfavorable weather, wet bolls, stems, leaves or rainstorms. The spots affect the grading. 205 spray irrigation stabilization fund riego por aspersi6n fondo de estabilizaci6n Sprinkling water over land to be used for crops. Often used to dispose of wastewater from sewage stabilizers see built-in stabilizers treatment plants. staff spraying see knapsack spraying personal; funcionarios [see also counterpart staff; field staff; fixed term spread (e.g. between borrowing cost and lending staff; higher level staff; line staff; overstaffed; rates) Principles of Staff Employment; supervisory staff; margen (p.ej., entre el costo de los emprestitos y support staff] el interes sobre los prestamos) Difference between rate at which bank borrows staff, to money and rate at which it onlends funds to its dotar de personal customers. staff appraisal report· SAR spread (between spot and forward quotations) informe de evaluaci6n inicial preparado por el margen (entre las cotizaciones aI contado y a personal termino) staff assistant spread of spreads auxiliar especial diferencia entre los margenes staff audit spreadsheet evaluacion de funciones directivas planUla de calculo electronica; boja electr6nica Check by Personnel on staff management de calculo functions, e.g. performance reviews to see that they are being carried out properly. sprinkle irrigation riego por aspersion staff department A method of irrigation in which water (under departamento de servicio, de asesoramiento adequate pressure) is sprinkled over the land through nozzle lines, perforated pipes or staff development sprinklers. perieccionamiento del personal squat, to staff house ocupar terrenos i1egalmente, sin tener derecbo a1ojamiento para el personal squatter staff-month ocupante sin titulo, i1egal, precario mes-funcionario squatter area, settlement staff rule zona de ocupantes ilegales, sin titulo norma (del Manual de Personal) squeeze see credit squeeze Staff Rules [IBRD] Reglamento del Personal Stabex (System for the stabilization of ACP and OCT mining products) [European Communities] staffing STABEX (Sistema de estabilizaci6n de los dotacion de personal ingresos de exportaci6n de los Estados ACP y PTUM) 206 staffing ratio standard deduction [taxation] relacion personal-poblacion; coeficiente de deduccion estandar ocupacion de cargos [administracion de personal] standard deviation desviacion estandar staffyear equivalent - SYE A commonly used measure of the degree to which equivalente en au os-personal a variable is dispersed around its mean value. stagflation Standard International Trade Classification - SITC estanflacion Clasificacion Unifonne para el Comercio Internacional- CUCI stagnation (of the economy) estancamiento standard of living niver de vida stakeholders partes interesadas; interesados standard rate (of interest) tipo, tasa (de interes) vigente stall feeding engorde en establo standard recovery recuperacion estandar stand [forest] Recovery of currency used in lending operations rodal subject to maintenance of value. Recovery takes place on the first recall date of the Bank's fiscal stand-alone project year following the ninth anniversary of the proyecto independiente disbursement of the currency by the Bank and every ten years thereafter. standard charge section seccion estandar (del presupuesto) standard values [trade] The basis of the Bank's budgetary system, it valores nonnales, corrientes, estandar comprises five basic attributes of all administrative expenditures (managing unit, source of funds, standardized occupational streams expense category (type of goods or services), task perfiles ocupacionales nonnalizados category (Bank function) and product. All administrative commitments and expenditures are standby agreement [IFC] related to the standard charge section. acuerdo de compromiso contingente standard conversion factor - SCF standby amount of guarantee factor de conversion estandar monto de la garantia contingente A number, usually less than 1 that can be The amount of guarantee provided under standby multiplied by the domestic market price, coverage. Cf. maximum amount of guarantee. opportunity cost, or value in use of a nontraded item to convert it to an equivalent border price standby arrangement [IMF] that reflects the effect of trade distortions on acuerdo de derecho de giro domestic prices of that good or service. A standard conversion factor is the reciprocal of 1 plus the standby commitment [IFC] foreign exchange premium stated in decimal form. operacion de compromiso de compra standard cost accounting contabilidad de costos estandar A method of accounting whereby standard costs (i.e. forecast costs under projected conditions) are the basis for credits to work-in-process accounts 207 standby coverage [MIGA] standstill agreement cobertura contingente acuerdo de mantenimiento de la situacion An option to obtain coverage for additional existente contributions to the investment project. Under MIGA rules, this standby coverage may not exceed staple (food) fifty percent of the initial amount of the guarantee alimento basico and shall in no case exceed one hundred percent. staple (food crop) standby equity [investment] cultivo alimentario basico compromiso contingente de participacion en el capital social staple (good) In investment an agreement that is conditional on articulo basico stock purchase. starchy root crop standby loan tuberculo feculento, raiz feculenta prestamo contingente Loan which is not part of the current schedule but start-up cost which can be presented to the Board if other costo de puesta en marcba projects slip. State eligible to sign (the Convention) [ICSID] standby (lending) program [IBRD] Estado que puede adberirse programa (de financiamiento) de reserva Lending operations that are under preparation and statement are likely to be ready for the fiscal year following declaracion; intervencion; exposicion the fiscal year in question but may be ready sooner [see also financial statement; income statement; and which could substitute for projects in the fiscal summary statement] year in question. statement of account standby premium [MIGA] estado de cuenta; extracto de cuenta prima contingente Additional premium charged for standby statement of changes in financial position; sources coverage. and application of funds statement; funds statement; working capital statement; source and standby underwriting commitment [IFC] use of funds statement; funds flow statement; compromiso contingente de garantia de changes in working capital statement; statement of suscripcion sources and applications of funds; statement of cash flows [World Bank] standing, financial see creditworthiness estado de flujo de fondos; estado de fuentes y utilizacion de fondos standing instructions, orders A statement used in conventional accounting instrucciones permanentes which summarizes the financing and investing activities of an entity, including the extent to standpipe; standpost; hydrant which the enterprise has generated funds from toma de agua operations during the period and for completing the disclosure of changes in financial position standstill during the period. The first English term is the statu quo one recommended by the U.S. Accounting In GATT, means no new trade restrictions Principles Board (APB) since 1971; the second inconsistent with GATT, no new trade restrictions and last terms are the ones found most frequently which go further than necessary to remedy specific in the World Bank and IFC; and the third is the situations provided for in GATT and no trade most common one used in the U. S. prior to the measures taken to improve negotiating positions. APB recommendation. The other terms are also found. 208 statement of condition [IDA] Lending position whereby the total amount estado de situacion financiera disbursed and outstanding equals the sum of the A statement of IDA's financial situation. annual amounts disbursed and outstanding. statement of expenditure - SOE steam coal declaracion, estado, relacion de gastos carbOn de alto poder calorifico; carbOn termico Coal intermediate in rank between bituminous coal statement of sources and applications of funds see and anthracite. Typical steam coals have a statement of changes in financial position carbon/hydrogen ratio of about 20% (more = anthracite less = bituminous coals). Some steam state-owned enterprise - SOE coals are used for smelting and coke making while empresa estatal others are specifically suitable for steam generation. state-trading countries paises de comercio estatal steam plant central de vapor static efficiency eficiencia estatica steelmaking see open-hearth steelmaking The efficiency with which current outputs are produced. steepness (of a curve) grado de inclinacion; pendiente (de una curva) Static Life Index [commodities] indice estatico de las reservas (aiios) stemming-from benefit Index in years of reserves of a commodity beneficio derivado indirecto assuming no growth in rate of production. A form of indirect benefit that accrues to purchasers of project outputs that are themselves status intermediate products. The direct and indirect estado; situacion; categoria; condicion social value added generated in forward-linked industries. For example, cotton that is produced by status report; progress report an agricultural project and that would be used in informe sobre la marcha (de un proyecto), sobre existing cotton gins having unused production la labor realizada, sobre las actividades capacity might allow those gins to create additional value added that would not exist statutory body without the project. Stemming-from benefits organismo de derecho publico sometimes are calculated using specialized input- output multipliers. Would not normally exist statutory ceiling where project outputs are traded, since the same limite estatutario, legal, reglamentario stemming-from benefits could be had by increasing imports of the intermediate product or statutory lending limit - SLL by diverting exports to local use. limite estatutario de los prestamos The maximum amount of total outstanding step-down power station guarantees, participations in loans and direct estacion reductora loans, equal to one hundred percent of the Power station where the outgoing power from the unimpaired subscribed capital, reserves and transformers is at a lower voltage than the surplus of the Bank. incoming power. stay of enforcement [ICSID] step-down, step-up interest rates suspension de la ejecucion (dellaudo) tasas de interes crecientes Interest rates which are below market rates in the steady state lending early period of the loan and above market rate in nivel estable de prestamos the latter part of the loan. 209 stepped tariff structure slants to these terms in certain circumstances, so estnu:tura tarifaria escalonada they may, on occasion, have slightly different meanings. step-up power station estacion elevadora stocking rate [livestoc.k] tasa, densidad de carga; carga ganadera stock see capital stock; closing stock; common The relative number of livestock per unit area for a stock; corporate stocks; outstanding stocks; paid- specific time. up stock; preferred stock; publicly traded stock; registered stock; share; volatile stock; voting stock stockpiling acumulacion de existencias stock accounting; stores accounting contabilidad de existencias stop and go growth crecimiento intermitente stock carrying capacity [livestock] capacidad de carga stopgap measure medida temporal, de transicion; recurso stock corporation provisional sociedad anonima stop-go, stop and go policy stock dilution, watering; dilution alternaneia rapida (de medidas) de expansion y dilucion del capital (accionario) contraccion; politic a de avance intermitente The lessening of an ownership share's earnings Action on the part of the government to curtail and assets equity, caused by the issue of more aggregate demand due to, for example, a balance ownership shares without corresponding increases of payments deficit, soon followed by action with in earnings and assets. the opposite effect to ameliorate the rise in unemployment caused by the first action. stock dividend dividendo en acciones storage dam presa, represa de almacenamiento stock exchange transaction operacion bursatil store-of-value reserva de valor stock option One of the functions of money in that it stores opcion de compra de acciones wealth or value. An individual can sell a good or a service and store the money until he needs stock ownership something and can then use the money to purchase cartera de acciones what he needs. stock rights [IFC] stores accounting; stock accounting derecbos de suscripcion contabilidad de existencias stock watering see stock dilution storm water drainage system drenaje de aguas lIuvias, pluviales stock watering [livestock] abrevado [ganado] straight bond bono clasico, ordinario stockholders' equity; shareholders' equity; owners' Bond with unquestioned right to repayment of equity; equity; net worth principal at a specified future date, unquestioned patrimonio; patrimonio neto; activo neto right to fixed interest payments on stated dates, The value of assets less liabilities of a corporation. and no right to any additional interest, principal, All the terms given here are generally or conversion privilege. synonymous, but accountants tend to give different 210 straight-line depreciation; depreciation on a strip irrigation see border check irrigation straight line amortizacion (depredacion) lineal, constante, strip mining; open pit, open cast, open cut mining de cuotas fijas explotacion a cielo abierto, a tajo abierto Assignment of the service cost of any item to the [Chile] benefits to be yielded by the item. In practice, a period charge for depreciation is usually strip of maturities substituted for a more exact measurement of porcion de cada uno de los vencimientos de un benefits yielded. prestamo A time portion of each of the maturities of a strategic investors multi-maturity loan. inversionistas que se estimen adecuados, apropiados; inversionistas estrategicos strip participation Major investors who have a significant equity participacion en cada uno de los vencimientos investment in a company and, by virtue of their (de un prestamo) specialized knowledge, play an active role in the Participation in each of the maturities of a management of the company. multimaturity loan. stratospheric ozone strip planting ozono estratosferico plantacion en franjas stream, to go on stripping see asset stripping entrar en produccion; iniciar (sus) actividades stripping ratio [mining] streamed school relacion de desmonte escuela organizada por secciooes Unit amount of spoil or waste that must be removed to gain access to a similar unit amount of streamlined project procedure ore or mineral material. procedimiento simplificado (para proyectos...) A procedure adopted by IFC for more rapid review strong currency; hard currency of investment projects. Projects must be for less moneda fuerte than $25 million in loans or $10 million in equity, have no novel features and must be to countries in Structural Adjustment Facility (SAP) within the which IFC has invested in the last five years. Special Disbursement Account [IMP] servicio financiero de ajuste estructural (SAE) streamlining dentro del marco de la Cuenta Especial de agilizacion; simplificacion; racionalizacion Desembolso Facility created by the International Monetary streams of costs and benefits Fund in March 1986 to provide balance of comentes, f1ujos de costos y beneficios payments assistance on concessional terms to low income developing countries. The resources will strength charge consist of assets received in the Special cargo (apUcado) segUn la concentracion de los Disbursement Account as a result of the contaminantes termination of the Trust Fund. Charge levied for water pollution. based on concentration of pollutants in the water, rather structural adjustment lending - SAL than on volume of wastewater discharged. Cf. prestamos para (fines de) ajuste estructural volumetric charge. structural unemployment strip check irrigation see border check irrigation desempleo estructural strip cropping see alley cropping 211 structural work subborrower estl1lctura; obra gl1lesa subprestatario A smaller loan which is a part of a larger loan, structured financing often one provided for onlending. financiamiento estl1lcturado Financing using stl1lctured securities. subcontract subcontrato structured security titulo, valor hibrido, estl1lcturado subcontractor Security that is a combination of derivatives and subcontratista standard cash securities, with its reimbursement and risk terms structured according to the client's subgrade [highways] needs. subrasante stubble mulch farming subirrigation; subsoil irrigation abonado con rastrojo riego subterraneo student flow subject matter [education] movimiento, flujo de estudiantes, alumnos materia; asignatura student placement subject matter specialist - SMS [agricultural orientacion extension] tecnico especializado student-teacher ratio - S1R; pupil-teacher ratio - PTR; teacher-pupil ratio subloan relacion, coeficiente profesor-alumnos; alumnos subprestamo por profesor A loan that has been onlent. stumpage fee submerged bridge canon, derecho por pie vado pavimentado; baden stumpage price submerged economy see parallel economy precio por pie subordinated debt see junior debt stunting; nutritional dwarfing enanismo nutricional; cortedad de talla; subordinated loan crecimiento insuficiente prestamo subordinado Being smaller than the standard height based on a A loan where repayment is made subject to other height-for-age formula, as developed by WHO. conditions being met, normally repayment of other Below minus two standard deviations from median loans which are deemed to be "senior" (often weight for height for age of reference population. because they are secured). stylized fact subordinate lender hecho estilizado, de oeurrencia frecuente; prestamista subordinado generalizacion Lender holding a subordinated loan. A generalization about economic trends extrapolated from data or an individual or group of subordination fee individual countries. cargo por subordinacion A fee IFe receives because its debt is subordinated to other debts. 212 subproject How much one user's consumption of a good or subproyecto service subtracts from the ability of others to consume the good or service. subscriber trunk dialing - sm selection automatica intenlrbana subtransmission line; secondary transmission line linea de subtransmision, de transmision subsidiarity secundaria subsidiariedad; complementariedad Transmission line in a subtransmission system, i.e. Principle according to which the higher levels of one which supplies distribution substations from government should be as limited as possible and bulk power sources, such as large transmission should be subsidiaI)' to those of lower levels. substations or genemting stations. subsidiaI)' account subunderwriter [IFC] cuenta subsidiaria, aunliar subgarante [CFI) An account maintained in a separate record and controlled by an account in the general ledger. success fee comision por captacion de fondos SubsidiaI)' Agreement [IBRO] Fee paid that is proportional to amount of funds convenio de pristamo subsidiario obtained. subsidiaI)' loan successful bidder pristamo subsidiario licit ante cuya oferta ha sido aceptada; adjudicatario; licitante favorecido subsistence allowance dieta; viatico summaty account cuenta de resumen; cuenta de cierre subsistence economy economia de subsistencia summaI)' of project information sintesis informativa sobre un (el) proyeeto subsistence farming agricultura de subsistencia SummaI)' Proceedings Aetas Resumidas subsoil irigation; subirrigation riego 8ubterraneo summaI)' statement estado resumido substantive law dereeho sustantivo, de fondo sundty assets The major part of any legal system, concerned activos varios with the legal rights attributed to and legal duties imposed on particular legal persons in particular sundty cash accounts circumstances. Includes both primaI)' or cuentas diversas de caja antecedent rights. sundty liabilities substitution effect pasivos varios efecto de sustitucion The effect on the demand for a good of a change in sunk cost price of that good assuming real income is held costo no recurrente de capital, no reeuperable constant. A cost incurred in the past that cannot be retrieved as a residual value from an earlier investment. subtractability posibilidad de extraccion sunset clause chiusuJa con fecha de expiracion 213 superannuation supply line; setvice; setvice line; connection Jubilacion [electricity] conexion de servicio superintendency (of banks) superintendencia bancaria, de bancos supply management regulaeion de la ofem supetvision mission million de supervision supply·push factors factores de rechazo (dellugar de origen) supervisory grades relacionados con la oferta niveles, categorias de supervision; niveles Factors that encourage migrants to leave their own medios country. supetvisorystaff supply side economics personal de supervision economia de la oferta, basada en la oferta Economic policies and actions that will have supplemental letter, side letter long·term benefits even though they may be carta complementaria contractionary in the short-term. Supports the theory that money injected anywhere into the Supplemental Reserve against Losses on Loans financial system expands the entire economy. and from Currency Devaluations (Supplemental Reserve) supply side politics Resenra Suplementaria para perdidas en politica favorable a la economia de la oferta prestamos y por devaluaciones de monedas Political point of view favoring supply side (Kellenra Suplementaria) economics. A reserve established by the Bank in 1950, into which the Bank maintained a policy of supply system; delivery system automatically allocating all of its net income until sistema de prestacion, de suministro (de un FY64. It was renamed General Resenre in FY76. servieio); sistema, red de distribucion, de reparto supplementary contributions [IDA] aportaeiones suplementarias support department [IBRD] departamento de (servicios de) apoyo supplier industry industria auxiliar, abastecedora support price preeio de sosten, de apoyo, de sustentacion supplier credit; supplier's credit credito de proveedores surface course; wearing course [highways] Export finance made available to the supplier of capa superficial, de rodadura the goods (as distinct from credits to the overseas buyer under buyer's credits». surface dressing [highways] sellado superficial, de superficie; tratamiento supply curve superficial cunra de la ofem A graphical representation of the relationship surface irrigation between the supply of a commodity and its price riego superficial, de superficie (usually with price on the vertical axis and quantity supplied measured along the horizontal surface, road patching; spot improvement. axis). The positive relationship between these two patching; patching [highways] variables is reflected by the fact that the supply bacheo; reparacion de bacbes curve slopes upwards from left to right. 214 surfacing [highways] sustainability revestimiento continuidad; mantenimiento; sostenibiIidad [see also resurfacing] sustainable development surplus country desarrollo sostenible pais superavitario Economic growth conducted in an environment" ally responsible manner. surplus dividend dividendo extraordinario sustainable forestry Dividend paid over and above statutorily required silvicultura sostenible; ordenacion forestal dividend. sostenible Forestry which aims at replacing trees that have surplus on invisibles been cut down. supedvit de las transacciones invisibles sustainable level of lending " SLL surrogate market nivel sostenible de prestamos mercado sustitutivo Similar markets to the target market that can be sustainable net national product - SNNP used for study purposes. For example, in assessing producto nacional neto sostenible - PNNS environmental damage, the property value of the A measure of a country's economic perfonnance, it target and similar, surrogate markets can be differs from GNP and GDP in that investments to assessed to determine how much property values maintain the integrity of the environment are have been reduced as a result of environmental excluded from the computation as is income degradation. generated from harvesting a resource stock over and beyond its capacity to be replenished. It survey therefore differs from GNP in that it can be used to estudio; encuesta; levantamiento topogrMico demonstrate to poJicymakers the monetaI)' value [see also reconnaissance survey; soil survey) (loss) associated with policies that allow unsustainable use of a country's resources. survey mission mision de estudio sustained growth crecimiento (economico) sostenido survey of resources inventario de recursos swap swap; intercambio de monedas; crMito survival rate [education) reciproco [FMI]; operaciones de pase tasa de supervivencia escolar [Argentina] The percentage of pupils enrolled in the first grade A spot purchase of foreign exchange (currency who reach subsequent grades. swaps), fixed or floating rate funds (interest rate swaps) or assets (asset swaps) with simultaneous suspended matter forward sale or vice versa. Pase financiero is an solidos en suspension Argentinian system, related to the swap system, whereby persons or institutions making capital suspended particulate matter" SPM investments are given an "exchange guarantee," partieulas en suspension which guarantees that the funds can be Particulate matter suspended in a fluid. reexchanged at a predetermined exchange rate on a specific date. suspense account [see also currency swap; debt~quity swap; debt" euenta transitoria for-health swaps; Global Swap Authority; interest A temporaty account for funds which have not yet (rate) swap] been identified. 215 swap, to [finance] syndicate [banking] efectuar una operacion de swap, de intercambio consorcio (bancario, de financiamiento) de monedas, de crMito reciproco A group of bankers and/or brokers who underwrite To carry out a swap transaction. and distnbute a new issue of securities or a large block of an outstanding issue. By extension, can swap market also refer to a group of banks or securities firms Mercado de swaps who are involved in a Eurocredit or Eurobond [see also currency swap; interest (rate) swap] issue. sweat equity syndicate a loan, to aportacion en manu de obra propia concertar un prestamo a traves de un consorcio A share or interest in a building obtained as a (bancario, de financiamiento) result of contributing labor to its construction To arrange for a loan using a syndicate. and/or maintenance. syndicated loan swing producer prestamo de un consorcio, concedido por un productor compensador, de compensacion consorcio In oil production, a countl}' that varies its Loan made by a syndicate. production to ensure that a previously agreed cartel price remains fixed. In practice, OPEC uses synfuel; synthetic fuel Saudi Arabia as the swing producer to keep a combustible sintetico certain fixed price. Sysmin (= Special financing facility for ACP and swing space OCT mining products) [European Communities] oficinas provisionales Sysmin (Servicio especial de financiamiento Temporal}' space used to provide office space for para productos mineros de los paises ACP y staff whose current offices are being remodeled or PTUM) demolished but for whom new office space is not yet available. system load factor [electricity] coeficiente de carga de la red switching equipment [telephone] equipo de conmutacion Systemic Transformation Facility [IMF] servicio para la transformacion sistemica switching policies Temporal}' facility to help member countries poUticas de reasignaci6n de recursos facing balance of payment difficulties. switching value [sensitivity analysis] valor critico The value that reverses the ranking of two alterna- tive projects. For example, Farm A will produce beef with high technology equipment and few workers, while Farm B will consist of a low-technology operation employing many farm workers. Up to a weight of 1. 5 on income going to the poor, Farm A has a higher rate of return. However, if a weight greater than 1.5 is given, Farm B will have a higher rate of return. The switching value, therefore, is 1.5. 216 take-up problems (of means-tested pension plans) problemas de cobertura efectiva, de -T- incorporacion al plan, de participacion en el plan tailing pond tangible assets, property deposito de decantacion de residuos bienes materiales, tangibles, corporeos Pond containing waste matter from metal ore Material property that can be seen and touched as extraction. opposed to intangible property such as a patent. tailrace; spillway chute [hydroelectricity] tanker canal de descarga buque cisterna; buque tanque; camion cisterna; camion tanque take a straight equity position, to (hacer) inversiones en acciones comunes tap issue Investment in a standard, low-risk security. emision continua An issue of a security made available on an as take-and-pay contract required basis. Used primarily in the British mar- contrato de compra contra entrega ket, where the British Government issues Treasury A guarantee to buY an agreed amount of a product stock and seeks subscriptions. As the stock is or service provided it is delivered. rarely fully subscribed, the remainder is sold to Stock Exchange jobbers as demand requires. take-home pay salario neto; remuneracion neta target, to orientar a grupos especificos; usar un enfoque taken over by selectivo; etc. absorbido(a) por target contract take-off contrato sobre la base de un presupuesto meta arranque; despegue; impulso [see also power take-oft] target group grupo beneficiario; grupo objeto de ••• ; grupo take-or-pay agreement, contract escogido (como meta); grupo previsto acuerdo, contrato firme de compra (sin derecbo de rescision) target price An unconditional guarantee to buy an agreed precio indicativo amount of a product or service whether or not it is delivered. target zone; reference zone zona de referencia take-out agreement; buy-back agreement A wide zone of exchange rates, perhaps plus or acuerdo de recompra minus 10 per cent, within which a currency can freely move against other currencies. Suggested at takeover bid the New York Plaza Agreement at the Group of oferta publica de compra - OPT Five meeting, 9/85 and proposed by the French An offer to acquire a controlling interest in a Treasury 2/86, as a way to reduce major currency corporation. swings. take over, to targeted beneficiaries hacerse cargo; absorber; asumir beneficiarios design ados, escogidos, especificos, seleccionados 217 targeted grant see categorical grant controlling the volume of imports. All the revenue thus obtained accrues the producer instead of the targeted interventions government (in the form of tariffs). intervenciones dirigidas tariff quota targeted programs cuota arancelaria; cupo, contingente programas focalizados, dirigidos a grupos arancelario especificos Specified volume (quota) of imports ofa good for a given period defining the application of different targeting rates of duty (tariffs), the lower are applying until focalizaci6n the specified volume is reached, the higher rate thereafter. tariff arancel; derecbo arancelario; derecbo de tariff rates aduana, de importacion; tarifa tasas, derecbos arancelarios [ see also also lifeline tarifl] tariff round, negotiations tariff barriers negociaciones arancelarias, sobre aranceles barreras arancelarias tariff schedule tariff escalation arancel; tarifa [precios] progresividad arancelaria; escalada, a1za de tarifas tariff wedges diferencias arancelarias tariff item Difference between the tariff at a particular stage partida arancelaria of processing and at the preceding stage. tariff jumping tariffication elusion del pago de aranceles (mediante el conversion en arancel establecimiento de una empresa en el pais) The conversion of quotas or other non tariff barriers to tariffs. tariff line rengl6n arancelario tar sands The most disaggregated level of classification of arenas impregnadas de brea; arenas asfMticas international trade flows. It is the production level where the tariff is applied. task force grupo de estudio; grupo de trabajo tariff negotiations, round negociaciones arancelarias, sobre aranceles tax see also benefit taxes; betterment levy, tax; border taxes; business (profit) tax; capital gains tariff peak tax; cascade tax; corporate tax; delinquent taxes; cresta arancelaria destination tax; earmarked tax; end use tax; foreign tax credit; income tax; inflation tax; tariff position interest equalization tax; investment tax credit; partida arancelaria land betterment tax; land tax; multiple stage tax; net of taxes; origin tax; pay-as-you-earn; payroll tariff privatization tax; poll tax; presumptive taxation; profits tax; control empresarial del arancel sales tax; schedular tax; shifting of tax; turnover Situation where the main domestic producer in a tax; value-added tax; withholding tax given market is also the main importer (or bas very close links to the main foreign producer) and is therefore able to shield itself from import competition and obtain considerable profits by 218 tax allowance tax clearance exencion tributaria; desgravacion; deduccion certificado de pago de impuestos Amount deducted from gross income to arrive at taxable income. tax credit descuento, credito impositivo, tributario tax amnesty A 100% offset against tax liability. amnistia tributaria tax deduction tax arbitrage deduccion tributaria, de impuestos arbitraje impositivo An expenditure that may legally be deducted from taxable income by taxpayers tax assessment; assessment for tax avaloo, tasacion para fines impositivos; tax deferral estimacion de la base impositiva aplazamiento, diferimiento impositivo; moratoria tax audit auditoria impositiva, tributaria tax demand, bill liquidacion, notificacion de impuestos tax avoidance evitacion, elusion, evasion legal de impuestos tax effort The. legal minimization of taxes due government esfuerzo tributario by application of tax planning devices. The total amount of tax due from a country, sector, enterprise, etc. tax base base imponible tax elasticity The amount that forms the basis for calculating a elasticidad del impuesto taxpayers' liability. In income tax it is a person's earnings while in property tax, the value of the tax evasion property. evasion (iJegal) tributaria, fiscal, de impuestos Avoidance of taxes by illegal means. tax bill, demand Iiquidacion, notificacion de impuestos tax exemption A document sent to a taxpayer, telling himlher exeocion de impuestos how much s/he owes in taxes. A specific sum that a taxpayer may deduct from taxable income for him- or herself and for each tax bracket dependent. Also refers to certain kinds of income grupo, nivel, tramo impositivo not subject to tax such as social security payments, monies received by certain diplomats, etc. tax buoyancy elasticidad tributaria global tax expenditures Total elasticity of the tax system (built-in elasticity gastos fisc ales plus elasticity due to discretionary changes in the tax system). Measured by the annual mean growth taxJGDP ratio in receipts divided by the annual mean growth in relacion impuestos-PIB gross domestic product (GDP). Ratio of tax receipts to gross domestic product. tax burden carga impositiva, tributaria, fiscal; presion fiscal The actual effect of a tax. For example, the tax burden of income tax falls on the income-earner; however, the burden of indirect taxes such as sales taxes is generally passed on to the consumer. 219 tax bandies tax-paying capacity sujeros (potenciaies) del impuesto capacidad tributaria The means by which the tax authorities can raise (or lower) revenues through taxation. For example, tax performance ratio in an economy where income is typically derived relacion, coeficiente de recaudacion de from self-employment and the wage income that impuestos does exist is from small establishments, the government has only a limited tax handle on tax ratio income compared with a modem economy where relacion impuestos-ingresos; coeficiente earned income is largely in the form of wages and tributario salaries from large organizations. The ratio of income tax expense to net income before taxes. tax haven paralso tributario tax rebate A country which offers permanent tax incentives desgravadon tributaria; reduccion de impuestos in order to attract multinational enterprises. A partial refund to taxpayers of taxes already paid. tax holiday tax refund tregua tributaria; exoneracion temporal reembolso, devolucion, reintegro de impuestos (parcial 0 total) de impuestos Tax relief or exemption granted temporarily, e.g. tax relief to encourage industrial development. desgravacion fiscal tax incentive tax reference price [oil] incentivo tributario precio de referenda para fines tributarios [petroleo] tax incidence analysis An arbitrary posted price for hydrocarbons utilized analisis de la incidencia fiscal in a number of countries for the purpose of Analysis of the redistributive effects of taxation. calculating taxes and other payments due the State from an operator. tax liability obligacion tributaria tax return declaracion de ingresos; declaracion de tax loophole impuestos escapatoria, Jaguna tributaria; resquicio tributario tax sharing participacion en los impuestos tax mitigation The practice of a state or central government atenuacion, reduccion de los impuestos levying a tax and sharing its proceeds with a local government. tax net sujetos, bienes y actividades imponibles tax shelter refugio tributario tax office Any of a number of investments which generate oficina, direccion, administracion de impuestos losses, usually due to noncash deductions such as depreciation or depletion, or due to accelerated tax on value added; value added tax - VAT payments which flow through to individual impuesto ai, sobre el valor agregado, anadido- taxpayers and can be used to offset other income, IVA thereby lowering the individual taxable income. tax-paid cost - TPC tax sparing costo incluidos los impuestos descuento del impuesto potencial 220 tax surcharge technical assistance loan - TAL recargo tributario; sobretasa prestamo para asistencia tecnica World Bank loan for technical assistance purposes. tax technology teenicas de administracion tributaria technical assistant The tools used to administrate tax policy, e.g. funcionario de asistencia tecniea; asistente management information systems. teenieo tax wedge technical background discrepancia impositiva formadon tccnica; preparadon tecnica The difference between wages or labor income and the same wages or income plus government taxes technical cooperation among developing countries on them. It is called a wedge because it is like a -TCDC wedge which the tax drives between the value of a cooperation teeniea entre paises en desarrollo - worker to the firm and the amount received by the CTPD worker for working one more hour. A Bank document defined it as "the difference between a technical-efficiency index - TEl given (arbitrary) after-tax rate of return to an indice de eficiencia teenica individual investor and the pre-tax real rate of return on investment that the firm would need to technical note generate in order to fund the investment." nota teeniea tax withholding technical package retencion del impuesto conjunto de medidas practieas tax write off teething problems deduccion tributaria (por perdida, etc.) problemas initiales tax yield temperate hardwood forest reeaudacion tributaria bosque de especies frondosas teacher-pupil ratio; pupil-teacher ratio - PTR; temporary assets student-teacher ratio - STR activos transitorios relacion, coeficiente profesor-alumnos, alumnos por profesor temporary liabilities pasivos transitorios teacher's guide guia del maestro; libro del maestro; manual del tender instructor oferta; propuesta teacher's kit tender documents see bidding documents material pedagogico baisico tenure see land tenure; security oftenure teaching aids materiales didacticos; auxiliares de enseiianza tenure [education] permanencia (en el cargo) teaching load earga docente term deposit deposito a plazo Technical Advisory Committee - T AC [CGIAR] Comite Asesor Teenico - CAT term financing financiamiento a mediano 0 largo plazo 221 tenn loan test plot pftstamo a mediano 0 largo plazo lote, parcela de prueba tenn sheet thematic team hoja de plazos y condiciones grupo de expertos Team of technical specialists working in a specific tenninate area of the Bank's activities, which monitors terminar; dar por terminado; rescindir Bankwide activities in a specific area, e.g. [nomhramiento] technical assistance. tennination theory of public choice terminacion; rescision; cese de funciones; teoria de la eleccion social despitio Study of the problems involved in decision-making by governments and the factors that influence their tennination grant decision-making. indemnizacion por terminacion, rescision, cesc de funciones, despido thinktank grupo de expertos tenns and conditions (of a contract) condiciones Third Window Tercera Ventanilla tenns ofreference [e.g. consultants] terminos de referencia; mandato 33-Commodity Aggregate Price Index [IBRD] indice global de precios de JJ productos basicos tenns of reference [study] terminos de referencia, parametros (de un threshold countries estudio) paises que se encuentran "en el umbral" Countries on the threshold between IDA and tenns of trade IBRD status or between IBRD and graduation relacion, terminos de intercamhio status. A relationship between the prices of exports and the prices of imports. When the concept is not threshold limit value - 1LV further qualified, reference is being made to the concentracion maxima admisible net barter terms of trade, which is the quotient The maximum allowed amount of exposure to a between an index of export prices and an index of given hazard in a given time frame. import prices. [see also barter terms of trade; double factorial threshold price tenns of trade; income terms of trade; single precio umbral factorial terms of trade] through bill of lading tertiary (oil) recovery conocimiento de embarque directo recuperacion terciana Bill of lading for cargo shipped between two Enhanced recovery methods for the production of specified ports plus inland portion of transit. crude oil or natural gas. It requires a means for displacing oil from the reservoir rock, modifying throughput the properties of the fluids in the reservoir and/or volumen de material elaborado [manufacturo]; the reservoir rock to cause movement of crude oil numero de estudiantes que pasan por el sistema in an efficient manner, and providing the energy escolar [educacion] and drive mechanism to force its flow to a [see also berth throughput] production well. through traffic test check [accounting] tr8fico en transito; tr8fico directo verificacion de prueba 222 tied aid time-of-use (TOU) rates [electricity tariffs] ayuda condicionada, vinculada tarifas segUn bora de consumo tied currency time overrun moneda vinculada demora respecto del plazo previsto tied resources time pattern recursos reservados (para un determinado pauta cronologica; cronologia proyecto) time series tight credit policy serle cronologica politica de restriccion crediticia; politica crediticia restrictiva time sharing [computers] tiempo compartido; multipropiedad tightening of credit restricciones crediticias; contraccion del credito time sheet hoja de asistencia tight money dinero escaso, caro time-slice loan Contractionary monetary policy. In taking steps to prestamo por etapas decrease the rate of growth of the money supply, Loan where the lender only finances the loan a monetary authorities are said to be following a part of the time. tight money policy. time underrun timber adelanto respecto del plazo previsto madera; madera en pie time value of money time-adjusted [project analysis] valor temporal del dinero actualizado a partir del segundo aDo An expression referring to the concept that values An accounting convention in which the first year received earlier are worth more than values of an investment analysis is used solely for received later. The concept underlying investment and in which incremental benefits discounting. appear only from year 2 or later. times interest earned ratio see interest coverage time-based contract [consultants] ratio - ICR contrato por tiempo A contract for consultants where payment is made tinged cotton according to time expended. algodon tintado A discolored cotton graded between spotted and time deposit stained cotton. deposito a plazo, a termino tissue culture time frame cultivo de tejidos marco temporal, cronologico titling (land) time lag adjudication (de titulos de propiedad) de la desfase (cronologico); retraso; intervalo tierra time limit [ICSID] Tokyo Round Agreement plazo Acuerdo de la Ronda de Tokio 223 tombstone total external debt - EDT anuncio de emision efectuada; esquela deuda e:dema total Advertisement which announces that a credit has been arranged or a bond issue made. total factor productivity - TFP productividad total de los facto res ton of coal equivalent - tee A measurement of changes in outputs per unit of tonelada de equivalente en carbOn - tee all inputs combined. A common accounting unit used to define energy usage. Actual definitions differ. The European total fertility rate - TFR Communities, for example, define it as yielding 7 tasa de fecundidad total Gcal net calorific value while the United Kingdom The average number of children that would be defines it as the average gross calorific of all born live to a woman (or group of women) during grades of coal and the UN as the gross calorific her lifetime if she were to pass through her value. childbearing years conforming to the age-specific fertility rates of a given year. ton of oil equivalent - toe tonelada de equivalente en petroleo - tep total loss cover A common accounting unit for energy usage. cobertura contra perdida total Definitions differ. OECD/IEA define it as having a Insurance against all losses. net calorific value of 10 Gcal (= 41.9 GJ) while the United Kingdom defines it as the weighted Total Return Index [IFC] average gross calorific value of all petroleum indice de rendimiento total; indice de products. rentabilidad total Index devised by IFC to measure the US dollar top-down (approach) [projects] return on developing country equity markets, vertical taking into account both domestic price changes and exchange rate fluctuations. top dressing [agriculture] abono, estercoladura, fertilizante de superficie total suspended particulates - TSP total de particulas en suspension top-rated bank loan Any solid or liquid particles dispersed in the prestamo bancario de primera categoria atmosphere, such as dust, pollen, ash, soot, metals and various chemicals. top-up scheme; minimum pension guarantee plan de jubilacion minima total suspended solids - TSS System whereby the government brings up a total de solidos en suspension pension to a specified minimum level. The amount of particulate matter suspended in a water sample. Toronto terms condiciones de Toronto tracer study [education] Terms for debt relief (rescheduling for low-income estudio de seguimiento de egresados countries) agreed upon at the Group of Seven A follow-up study of students after they have left meeting in Toronto in 1988. school to see what they have become. total dissolved solids - IDS tradable [adj.] total de solidos disueltos - tsd comerciable; exportable 0 importable; Total weight of dissolved mineral constituents in comercializable water per unit volume or weight of water in the sample. 224 tradable [noun] trade-off bien comerciable, comercializable, exportable 0 compensacion (de factores, de ventajas y importable desventajas); ventaja relativa; solucion de A good that could be traded internationally in the compromiso; transaccion; concesion reciproca; absence of restrictive trade policies. Depending on disyuntiva; opcion; alternativa, etc. national and world costs of production and transport, tradables may be importables, trade organization exportables or, in some cases, both. organizacion gremial, pat ronal tradable but nontraded (good, item); nontraded trade pattern tradable estructura, modalidad del comercio bien comerciable no comerciado (etc.) trade promotion tradable emissions permit fomento, promocion del comercio permiso negociable de contaminacion Permit to emit a specified quantity of a pollutant. trade publication This permit may be traded. Cf. emissions publicacion especializada para determinada trading, bubble concept. industria, negocio 0 profesion trade adjustment trade receivables ajuste del regimen comercial efectos de comercio por cobrar Adjustment of terms of trade, e.g. by reducing import tariffs. trade-related investment measures - TRIMS medidas en materia de inversiones relacionadas trade adjustment loan con el comercio prestamo (para fines de) ajuste de la politica de comercio exterior traded goods Loan to assist a country in liberalization of its bienes comerciados, comercializados, trade policy. exportados 0 importados trade balance; balance of trade; merchandise trading see block trading balance balanza comercial trading currency The difference in a given time period between a moneda de intercambio country's imports and exports of goods and services valued in current monetary units. trading partners puses que mantienen relaciones comerciales trade coverage ratio proporcion de importaciones sujetas a barreras trading portfolio no arancelarias; tasa de importaciones cartera de inversiones a corto plazo afectadas Portfolio of short-term investments. Cf. invest- The amount of imports affected by para-tariff, ment portfolio. price and volume control measures expressed as a percentage of total imports of the same product trading ticket [capital market] group. orden de compra; orden de venta Purchase/sales order for a security. trade cycle; business cycle cicio economico; coyuntura traffic-bearing capacity; load-bearing capacity capacidad de trMico trade deficit deficit comercial 225 traffic count transfer payments cuenta, con teo, recuento de tratico pagos de transferencia train see block train; unit trains transfer price precio de transferencia trainability [EDI-World Bank] Price between a corporation and its subsidiary or susceptibilidad. posibilidad de capacitacion within a corporation (opposite of arm's lengtb price). trainee persona que recibe adiestramiento; participante transformation curve; production possibility curve en un curso 0 programa de capacitacion; curva de transformacion; curva de posibilidades principiante de produccion A graphic representation of the various output trainer combinations of two commodities which can be instructor produced from a given quantity of resources. training see advanced training; higher training; transient climate change in-house training; in-service training; job-related cambio climatico circunstancial training; mobile training unit; multimedia training The path of realized climate change which takes module; on-the-job training; retail training; into account the lags in the climate system, as retraining; skill training center; vocational opposed to equilibrium cbange. training; wholesale training translation (of currency) training and visit [T & V] system traduccion de monedas; conversion contable de sistema de capacitacion y visitas monedas System of agricultural extension which involves Recording in accounts of assets (or liabilities) in training village-level workers so that they can, one currency when they are actually in another. through contact farmers, pass on new agricultural No actual exchange of funds takes place. The techniques. World Bank and IFe, for example, translate all their assets and liabilities into U.S. doIlar training production unit amounts, regardless of the actual currency in unidad de capacitacion practica which they are denominated. trammel fishing translation adjustment [accounting] pesca con trasmallos ajuste de traduccion (de monedas) Type of fishing using a set net, where the fish Adjustment in accounts to reflect movements in entangle themselves in net pockets, which are the rate of exchange between the currency of the made by the pushing movement of the fish through accounts and the currency of the transaction. the three - occasionally two - walls of the net. transparency tranching [loans] diafanidad; transparencia reparticion en porciones, tramos [see also fiscal transparency] Division of a loan (specifically adjustment loans) into several tranches. Release of tranches is transterritorial; cross-border conditional on specific agreed actions being transnacional; transterritorial fronterizo; a carried out. veces: internacional transfer charge caIl; collect call; reverse charge trashy farming call laboreo con abrigo vegetal lIamada de cobro revertido Tillage which leaves the major portion of crop residues on the soil surface 226 trawl fishing triage pesca de arrastre triaje; seleccion Treasury bill tribal peoples pagare del Tesoro a corto plazo pueblos tribales; poblaciones indigenas Bill issued by U.S. Treasury with short maturity (less than one year). trickle-down effect efecto de (la) filtracion; cborreo Treasury bond The idea that stimulants applied to a lagging bono del Tesoro economy are best given to business to induce Long-term (more than ten years) fixed coupon economic growth that will benefit citizens directly paper issued by the Federal Reserve on behalf of rather than being given directly to consumers to the U.S. Treasury. spur purchasing power. Treasury note trickle irrigation see drip irrigation pagare del Tesoro A medium-term (normally from two to ten years) trigger clause coupon security issued by the U.S. Treasury. chiusula de revision, de activacion Clause in mRO loan agreement requiring review treaty reinsurance after a certain number of years to determine reaseguro contractual whether changes in the country's economic Form of reinsurance, whereby an insurance condition warrant harder or softer loans. company shares a large number of risks with other insurance companies. trigger date [IBRO) fecha de activacion tree cotton; Ceylon cotton; Siam cotton; China Date on which a loan is placed in nonaccrual cotton status. This is normally when service payments algodon arboreo are overdue by more than six months. tree crop Trigger Price Mechanism - TPM [US] cultivo arboreo mecanismo de predos de intenrencion System set up by the US to prevent unfair tree farming competition for steel imports. Costs of production arboricultura in the world's lowest cost producer, Japan, would be determined and publicly announced. These tree fodder would be the trigger prices. 1fthe price charged for forraje arbOreo an import shipment were below the trigger price, the US Government would launch an antidumping tree mining; forest mining investigation against the foreign supplier. extraccion excesiva de arboles Clear-felling of large wooded areas. Trinidad terms condiciones de Trinidad tree tenure Terms for debt relief to replace the Toronto tenencia comunitaria de bosques terms, proposed by the United Kingdom at a Ownership of a wood, forest or other collection of conference in Trinidad. They propose writing off trees, usually by a group. The term is used in $18 billion of the debt of the world's nineteen social forestry. poorest countries (mainly Sub-Saharan African countries plus Bolivia and Guyana), extending trend rate repayment periods to 25 years and capitalizing tasa tendencial interest. 227 triple superphosphate - TSP [fertilizer] tubewell superfosfato triple pozo entubado A commercial fertilizer which contains 2.5 to 3 Strictly speaking a circular well consisting of tubes times as much available phosphoric acid as or pipes bored into the ground but often used superphosphate. The phosphate rock is treated synonymously with drilled well. with phosphoric acid and, in the manufacturing process, the gypsum is removed. tuition fees derechos de matncula tropical cattle unit - TeU; tropical animal unit- TAU; tropical livestock unit - TLU turnaround (time) unidad de ganado tropical tiempo de rotacion, del viaje de ida y welta; A standard unit of measurement, equivalent to 250 tiempo necesario para un servicio kg, the weight of a standard cow, for calculating the impact of animals on the land. turnkey contract, project contrato, proyecto lIave en mano tropical rain forest A contract where a firm will undertake all the bosque (humedo) tropical; selva (pluvial) activities to deliver a complete project, including tropical the provision of professional services, the supply of [see also rain forest] goods and civil works construction. truCking industry turnover industria del transporte por carretera movimiento; rotacion; volumen de negocios [see also inventory turnover] true lease contrato de arrendamiento verdadero turnover tax Lease where the lessee bas no right to a share of impuesto sobre el volumen, la cifra de negocios the proceeds of the sale of the leased asset to third parties at the end of the non-<.:ancelable lease twenty equivalent units - TEU [containers] period and no bargain renewal option. unidades de 20 pies (de contenedores) - TEU Standard unit for counting (equivalent) containers true to type variety; pure variety [agriculture] of various dimensions. variedad pura A variety which is like the parental type, without twinning arrangements change. acuerdos de "hermanamiento" Arrangement whereby two organizations (or a trunk infrastructnre group of organizations) work jointly on a project. infraestructura primaria In the Bank, it is generally used to refer to a situation where an organization (or a group of trunk network organizations) from an industrial country works red interurbana with an organization (or a group of organizations) from a developing country, providing assistance as' trunk roads well as being involved in the project. carreteras troncales, principales two digit inflation; double digit inflation trunk sewer (tasa de) inRacion de dos digitos, de 10% 0 mas alcantarilla colectora, maestra two-envelope procedure [consultants] trust fund procedimiento de dOl sobres fondo fiduciario; fideicomiso A procedure for selecting bids whereby each bidder is required to submit simultaneously his Trustee [GEF] qualifications in one envelope and his bid in a Depositario second. 228 two·gap model modelo de las dos brecbas A mathematical model of the economy of a country using two·gap analysis, i.e. adjustments in accumulation and trade in response to a unit change in the available supply of foreign resources. 2% currency [IBRDJ monto del 2% The portion of capital subscriptions payable in US dollars. two·stage, two·step procedure [IBRDJ tratamiento por separado; procedimientos separados Procedure whereby technical and financial proposals are submitted and evaluated separately. two·tier market mercado de dos niveles An exchange rate regime which normally insulates a country from the balance of payments effects of capital flows while it maintains a stable exchange rate for current account transactions. Capital transactions are normally required to pass through a "financial" market while current transactions go through an "official" market, though other arrangements are possible. Examples are found in Belgium and the United Kingdom, though France and Italy have experimented with such systems. two·tier meeting reunion en dos niveles Meeting arranged for public officials, where one meeting is for top·level officials and another, overlapping meeting, for middle-level officials. two-track development dos ritmos, trayectorias de desarrollo Development where one group develops at a much faster rate than another, e.g. the Asian countries develop more rapidly than Latin America and Sub- Saharan Africa. two-year trigger rule regia de los dos alios Rule whereby provisions are made against countries placed by the Bank in Donaccroal status that do not resume loan payments within two years. 229 unappropriated (earned) surplus utilidades no distribuidas y no asignadas -u- That part of retained earnings which has not been transferred to a subordinate account or otherwise earmarked for any specific purpose, thus UHF link [telecommunications] remaining available for the absorption of enlace UHF, en frecuencia ultraalta dividends. ultimate model unbundling modelo emaustivo desagregacion; desglose; descomposicion A model which contains all the information needed for its operation. unbundling of financial risks desagregacion, separacion de riesgos ultimate recoverable reserves - URR financieros reservas recuperables definitivas - RRD The separation and separate evaluation of financial The total amount of oil and gas recovered and risks. believed to be recoverable from both discovered and undiscovered reservoirs, in the light of uncalled capital probable improvements in technology and based capital suscrito y no desembolsado on a geological evaluation of a particular area or The amount of capital by which the total capital territory. authorized by the stockholders exceeds the paid-up capital. ultra low volume (ULV) spraying meiado de muy bajo volumen uncovered interest rate parity model modelo de paridad de los tipos de interes sin umbrella (agreement) cobertura acuerdo global; a veces: acuerdo marco Agreement whereby MIGA and a member underaccruals government provide the framework for MIGA's suma, diferencia por la cuallas cantidades cooperation with the public and private insurers of devengadas son inferiores a las previstas that member. undercapitalized umbrella project subcapitalizado proyecto que sirve de marco para otros; proyecto global undercollection [taxation] A UNDP project under which an allocation from a deficiencia de reeaudacion country's indicative planning figures funding is provided for a specific period of time to finance a underemployment flexible package of preinvestment studies or other subempleo; subocupacion technical assistance activities, all of which may not be identified before approval by UNDP. undergraduate estudiante (que no ba recibido el primer titulo umpire [legal] universitario) arbitro dirimente undergraduate studies unaccounted [e.g. water, electricity] estudios universitarios para obtener el primer no contabilizado; perdido titulo unallocatable expenditure underground economy see parallel economy gasto no asignable 230 underinvestment underwriting costs subinversion; inversion insuficiente costos de garantia de emision underinsurance underwriting syndicate infraseguro consorcio garante Failure to maintain adequate coverage for a specific loss or damage. undeveloped plot lote sin semcios, no urbanizado underinvoicing of exports subfactoracion de exportaciones; subvaloracion undrawn balance de las factoras de exportacion saldo no utilizado underleveraged undrawn borrowings con bajo coeficiente de endeudamiento emprestitos pendientes de utilizacion underlying costs unearned income costos implicitos ingreso(s) no proveniente(s) del trabajo; a veces: ingreso(s) no salarial(es) underlying inflation inflacion subyacente unearned interest intereses cobrados antieipadamente undernourished Interest on a loan that has already been collected desnutrido but has not yet been earned because the principal has not been outstanding long enough. undernutrition desnutricioo uneconomic production produccion antieconomica underprivileged desfavorecido; margin ado unemployment compensation, benefit seguro de desempleo underrun cost costos ioferiores a los previstos; infracostos unfunded interest interes no financiado underwriter [securities] suscriptor; asegurador; garante unfunded liabilities The middleman for selling and distributing obligaciones sin financiamiento previsto securities to investors or the public. Any short-term liabilities as opposed to long-term obligations such as bonds. underwriting see also equity underwriting unfunded system [insurance; social security} underwriting authority [MIGA] sistema finaneiado con aportaciones autoridad emisora The President or any official or officials of MIGA unified cross rates designated by the President to make the decision tipos de cambio concord antes on the issuance of a guarantee and on related matters. uniform votes [ffiRD] votos bisicos mu votos de adhesion underwriting commitment [IFC] Basic votes plus votes derived from membership operacion de garantia de emision shares. 231 unimpaired capital unit of output capitallibre de gravamenes unidad de produccion Capital which has no liens against it. MIGA's unimpaired capital is used as a basis for unit price contract; admeasurement contract; calculating its guarantee capacity. remeasurement contract contrato a, de precio(s) unitario{s) unit activity (crop) budget A contract based on unit prices. Includes a bill of presupuesto por unidad de actividad quantities, which is a statement of all the items of In farm investment analysis, a farm budget based work included in the contract together with the on an easily segregated activity such as planting a estimated quantity of each item. See bill of single hectare of a crop or raising a particular quantities contract, schedule of rates contract. group of animals. It is difficult to prepare a unit activity budget on a with and without basis; rather, unit trains it is generally prepared on an incremental basis, trenes unidades with all costs and all benefits included at the A complete train loaded with one product or incremental value. For both financial analysis and material (such as coal) that is shipped from one economic analysis, this means that for some specific point to another on a closely scheduled elements the opportunity cost must be estimated and controlled basis. directly, often especially difficult for land and for family labor. As a result, unit activity budgets are unit trust see open end (investment) fund most appropriate in project analyses where the opportunity cost of land and family labor can be unit value taken to be zero. valor unitario unit budget envelope unit value export index presupuesto (de una unidad del Banco) indice del valor unitario de las exportaciones The budget for a specific unit in the Bank. An index of the exports for the developing countries and the industrial market economies unit cost based on amount and value of total exports, costo unitario; precio unitario calculated on an annual basis. Used to show changes over a period of time. unit(ary) elasticity elasticidad igual a la unidad unlocated worker A schedule in which the coefficient of elasticity is trabajador ambulante 1, that is, a change of x percent in the price will Worker not employed in one place. cause a change of x percent in the quantity demanded or supplied. unorganized worker trabajador no sindicado unit-managed costs costos, gastos descentralizados unpeg (a rate), to Costs which are the responsibility, for budgetary desvincular (el tipo) purposes, of individual units, as opposed to those that are centrally-managed. unrealized gains ganancias no realizadas unit of account - UA Profits that have not become actual. The gains are unidad de cuenta realized when the security or other instrument on An artificial concept designed to provide a which there has been a gain is sold for a profit. consistent reference value against varying exchange rates, e.g. European Currency Unit, unregulated housing Special Drawing Rights (construction de) viviendas no sujeta(s) a reglamentaciones 232 unreleased funds untied aid fondos no disponibles para prestamos ayuda no condicionada, desvinculada unrequited transfer untying of aid transferencia sin contrapartida [cuentas desvinculacion de la ayuda nacionales]; transferencia unilateral [balanza de pagos] upgrade, to [oil] Transfer of income that does not a involve a quid refinar pro quo and which is non-contractual in character, for example, direct taxes, social security benefits upgrading of skills and contributions, social assistance grants and perfeccionamiento grants between governments to finance the military or other consumption expenditure or upkeep costs budgetary deficit of a government. gastos de mantenimiento, consen-acion unrestricted currency upland cotton; hairy cotton moneda de libre uso algodon upland; algodon americano; aJgodon The portion of capital subscriptions paid in gold or velloso US dollars and freely usable by IBRD in its lending operations. upland crops cultivos de montana, de tierras altas unrestricted subscription [IDA] suscripcion no sujeta a restricciones upland rice; mountain rice; highland rice arroz de montana, de tierras altas, de secano unseasoned investment inversion que no ba alcanzado su pleno uploading [computers] rendimiento transferencia bacia el sistema principal An investment that is not yet fully producing. upper secondary education unsecured (note, loan, etc.) educacion secundaria de cicio superior sin garantia; no garantizado upstream innovations; research-push innovations unskilled labor innovaciones inducidas por la investigacion mano de obra no calificada upstream process unsmoothed data primeros procesos datos antes del amilisis de regresion Data which has not been subject to regression upswing analysis. movimiento ascendente; fase ascendente, de expansion unspent credit balance saldo acreedor no utilizado upturn (economic) cambio favorable de la coyuntura; iniciacion de unsubdivided plot la fase ascendente; recuperacion; reactivacion terreno no parcelado upward trend unsuccessful bid tendencia alcista, ascendente oferta no favorecida (con la adjudicacion) untapped resources recursos inexplotados 233 urbanization economies economias de urbanizacion Economies of scale external to both individual firms and industries. They reflect the sum of private and public investments in specific locations, as well as the pools of labor and capital and financial, legal and public services. urban sprawl crecimiento urbano (no planificado) urban sprinkling proliferacion de asentamientos urbanos Development of small but swiftly growing urban areas in a generally undeveloped region. Uruguay Round [GATf] Ronda Uruguay useful life vida util useful farm space - UFS superficie agricola util The total area of a farm less the woods and nonagricultural area. user friendly de usofacil utilities (empresas de) servicios publicos [see also public utilities] utility function see welfare function 234 value recovery clause chiusula de recuperacion economica - V- In debt rescheduling agreement, clause which states that if economic conditions improve beyond a predefined threshold, creditors will be entitled to vaccination yard increased reimbursement. corral de vacunacion variety trial valuable consideration pmeba, ensayo de variedad(es) a titulo oneroso A right, interest, profit or benefit accruing to one vault toilet party or some forebearance, detriment, loss or letrina de pozo negro responsibility given, suffered or undertaken by the other. See consideration. Vectorborne disease enfermedad de transmision vectorial valuations for customs purposes aforo; valoracion aduanera vehicle currency moneda "vehiculo" valuable consideration, for; for a consideration Currency used in a swap or similar transaction, a titulo oneroso even though it may not be the target currency. value-added tax - VAT; tax on value added ventilated improved pit (VIP) latrine; VIP latrine impuesto ai, sobre el valor agregado, anadido - letrina de pozo mejorada con ventilacion IVA A pit latrine (i.e. a latrine consisting of a pit, a squatting plate (or seat and riser) and foundation, value based accounting see current cost (value) and a superstructure) where the pit is slightly accounting offset to make room for an external vent pipe, painted black and located on the sunny side of the value date latrine superstructure so that the air in the vent fecha de valor pipe will heat up and create an updraft with a The calendar date on which a transaction takes corresponding down draft through the squatting place. plate. value engineering venture [IFCJ anaIisis, ingenieria del valor operacion An objective appraisal of all the elements of the design, construction, procurement, installation and venture capital see risk capital maintenance of equipment, including the specifications, to achieve the necessary functions, venture capital company maintainability and reliability at the lowest cost. It compaiiia de capital de riesgo entails a detailed review of product designs and Company specializing in providing venture specifications, placing a total dollar value on the capital finance. costs of production and maintenance and relating these costs to the functional value of each part and vertical cofinancing assembly. cofinanciamiento vertical value for money vertical equity optimizacion de los recursos equidad vertical Distributing the tax burden among the nonpoor in line with their ability to pay. 235 vetiver vocational guidance vetiver orientation profesional Type of fodder grass, common in Africa. Also used for erosion control. vocational training formacion profesional VHF link [telecommunications] enlace VHF, en frecuencia muy alta voice mechanism mecanismo de participacion village extension worker - YEW Procedures to allow users to comment on the agente de extension de poblado - AEP volume or quality of a service. In public sector The same as a village level worker. management, these include dissemination of information about services, periodic evaluation, village level operation and maintenance (VLOM) complaints procedures, participation of public pump representatives in decision-making or regulatory bomba de operation y mantenimiento a nivel bodies and legal action by consumer action groups. del poblado - BOMPO This concept was developed by Albert Hirschman Pump for use in small villages. It is used in areas in Exit. Voice and Loyalty and adapted by Samuel where there is no power so it is a hand pump and Paul to the issue of accountability. must be maintained by villagers with no mechanical skills. It must also be cheap. volatile capital capital fugaz, inestable village level worker - VLW trabajador a nivel de poblado volatile organic compounds - VOC A worker with comparatively low-level education compuestos organicos volatiles who has received training in production methods Organic compounds which are capable of which he disseminates through selected fanners producing photo-chemical oxidants by sunlight- and others who adopt the new methods and driven reactions in the presence of nitrogen compare the results with that part of their fields oxides. Include emissions such as hydrocarbon cultivated by normal practices. vapor emissions. village woodlot volatile stock bosque comunal actiones de valor inestable A stock that changes in a manner inconsistent VIP latrine; ventilated improved pit (VIP) latrine with changes in the rest of the market. letrina de pozo mejorada con ventilation A pit latrine (i.e. a latrine consisting of a pit, a volatility squatting plate (or seat and riser) and foundation, inestabilidad and a superstructure) where the pit is slightly offset to make room for an external vent pipe, volatility ratio [stocks] painted black and located on the sunny side of the relacion, coefitiente de inestabilidad latrine superstructure so that the air in the vent The ratio by which overall changes in the stock pipe will heat up and create an updraft with a market influence changes in a specific stock. corresponding down draft through the squatting plate. volume driven program programa cuya magnitud depende del volumen vital statistics de actividad estadisticas del estado civil, vitales vitamin deficiency avitaminosis 236 volumetric charge cargo (aplicado) seglin volumen de descarga Charge levied for water pollution, based on volume of wastewater discharged rather than on concentration of pollutants in the water. Cf. strength charge. voluntary export restraints - VER Iimitacion voluntaria de las exportaciones An agreement by a country not to export certain goods to another country or to limit those exports to prevent them from gaining too large a share of the domestic market. voluntary lending; spontaneous lending prestamos voluntarios Lending that is made willingly, as opposed to lending where the lender has some sort of obliga- tion to lend or else the borrower will not reimburse previous loans. voluntary restraints (on trade) limitacion voluntaria (del comercio) vote without meeting votacion sin convocar a reunion voting power derechos de voto voting right derecho de voto voting stock acciones que confieren derecho de voto voucher privatization privatizacioo mediante cupones Method of privatization used primarily in the former Soviet Union whereby, prior to privatization, vouchers are distributed to eligible parties (e.g. employees, local residents). Voucher- holders exchange their vouchers for stock in the corporation, shares in an investment fund (which invests in one or more corporations to be privatized) or sell them on the open market for cash. 237 wage restraint restriccion, austeridad salarial -w- waive, to renunciar (a un derecho); dispensar, eximir (de wage agreement una obligacion) convenio salarial waiver wage bill renuncia (a un derecho); dispensa, exencion (de costos salariales; masa salarial una obligacion); a veces: exendon parcial wage claim waiver (of a right) [ICSID] reivindicacion, reclamacion salarial renuncia wage control waiver (of immunity) [ICSID] ordenacion, regulacion salarial renunda wage costs war and civil disturbance [MIGA] costos salariales guerra y disturbios civiles One of the MIGA covered risks. Defined as "any wage drift military action or civil disturbance in any territory desviacion de los salarios of the host country to which the Convention shall An increase in the effective rate of pay per unit of be applicable as provided in Article 66." Cf. riot labor input by arrangements that lie outside the and civil commotion. control of the recognized procedures for scheduling rates. In practice this is frequently warehousing (of financial assets) interpreted to mean a rise in standard weekly inmovilizacion de activos earnings in excess of the rise in nationally Keeping financial assets in an investment for negotiated wage rates. purposes other than making an immediate profitable investment. IFC does this to encourage wage goods other investors to invest in the project, while bienes salariales commercial banks are doing it with developing Goods normally bought out of current salary. country assets in order to keep a presence in the country concerned. wage pressure presion de los salarios warning signal seilal de a1erta, de prevencion wage-price indexing vinculacion de los salarios con los precios warrant [finance] System whereby wage and salary increases are certificado para la compra de acciones, bonos indexed to price increases. Option to purchase ordinary share or bond of a particular company, usually purchased by wage-price spiral bondholder wanting to participate in profit espiral salarios-precios growth of that company. Often attached to new bond issue as inducement for investors to take up wage pull inflation the bond. innacion producida por los salarios warrant bond wage rate bono con certificado salario Bond with warrant attached. This may be a bond with bond warrant or a bond with equity warrant. 238 wastage; waste [education) waterlogging volumen, tasa de desercion anegamiento waste; loss in weight [commerce] waterman see ditch rider desperdicio; perdida water management waste disposal ordenacion de las agoas eliminacion de desechos waterspreading wastewater distribucion de agoas ago as residuales, de desecho, servidas, negras Diverting water from gullies onto cultivated fields for irrigation purposes. water balance balance hid rico water supply Balance of input and output of water within a abastecimiento, suministro de agoa given defined hydrological area such as a basin, lake, etc., taking into account net changes of water-washed disease storage. enfermedad vinculada con la falta de higiene Disease caused by lack of water, poor personal water-based disease hygiene and lack of proper human waste disposal. enfermedad con base en el agoa Includes scabies, skin sepsis, yaws, leprosy, Disease where a necessary part of the life cycle of trachoma and conjunctivitis. the infecting agent takes place in an aquatic animal. Includes urinary schistosomiasis and watering see stock watering dracunculosis. watering place waterborne disease agoadajagoadero;abrevadero enfermedad transmitida por el agoa Disease where water acts only as a passive vehicle watershed management for the infecting agent. Includes cholera. typhoid ordenacion de cuencas hidrograificas. de and infectious hepatitis. vertientes waterborne sewage system waterway alcantarillado de arrastre hidraulico via navegable water charges ways and means tarifas de agoa medios y arbitrios water control weaning foods regolacion de Oas) agoas a1imentos para el periodo de destete Foods for weaning babies. water emuent charges cargo por contaminacion del agoa wear and tear (fair) Charges to users for polluting water. desgaste (normal 0 natural) water engineer wearing course; surface course [highways1 ingeniero hidrologo, hidraulico capa superficial, de rodadura water harvesting weighbridge aprovechamiento de agoas puente-bascula Directing runoff from a broad area by earth or stone bunds and canals onto smaller areas growing crops or trees. 239 weighted average The minimum structure for sanitaIy facilities on a media ponderada; promedio ponderado lot. weighted average tariff rate - W ATR wet gas tasa arancelaria media ponderada gas humedo The average of all tariffs paid on imported goods Natural gas containing liquid hydrocarbons in and all subsidies paid on exported goods, each solution, which may be removed by a reduction of weighted by the proportion that the good temperature and pressure or by a relatively simple represents in the value of total trade of the country. extraction process. weighted voting system wetlands sistema de votacion ponderada tierras humedas Estuaries, lakes, mangroves, marshes and swamps. welfare costs of protectionism costos economicos del proteccionismo wet process [cement manufacture] Amount of money that exporters would need to elaboracion, fabricacion por via hUrneda receive to be as well off with protectionism against Process of manufacturing cement used when the them in industrial countries as they would be raw material contains a quantity of water. It is without protectionism against them. mixed in water and the paste obtained is treated. See also dry and semidry process. welfare economy economia del bienestar wharfage; wharfage charges; dockage; quayage muelJaje welfare function; utility function funcion bienestar; funcion utilidad wheeling For an individual, the relationship between his servicio de transmision level of wellbeing, welfare or utility and the things Energy transported by an intervening party that contribute to it. For society, the relationship between a supplier and a receiver. between the welfare of society as a whole and all the variables affecting the state of the economy wheeling charge and quality of life. cargo por transmision Charges levied by an intennediary who allows the welfare State producer to use his equipment to transmit Estado benefactor, providente electricity to the consumer. welfare payments whole farm budget subsidios de asistencia social presupuesto global de la explotacion agricola A budget for activities on a farm. 'vellhead boca de(l) pozo; cabeza de(l) pozo whole farm development desarrollo integral de la explotacion agricola wellhead price precio en la boca, en la cabeza del pozo wholesale banking The price paid at the wellhead for gas or oil transacciones entre grandes bancos y entre produced. estos y otras instituciones financieras; transacciones interbancarias West Indian cotton; Sea Island cotton; Egyptian 1. Large-scale dealings in money deposits cotton; kidney cotton centered in the closely-interrelated group of algodon de las Indias Occidentales; algodon de money markets which have developed strongly Barbados; algodon egipcio since the mid-1960s. 2. Banking facilities offering a limited number wetcore of services to select clients (generally large instalacion sanitaria minima corporations). See retail banking. 240 wholesale mechanism; wholesaling The amount consumers are prepared to pay for a mecanismo de pdstamos a intermediarios final good or service. An estimate of the value in Bank procedure whereby loans are made to an use. intermediary, which in tum onlends them to the beneficiaries. wind pump bomba eolica wholesale training capacitacion, formacion de instroctores windbreak Training trainers for subsequent training. (plantacion) cortavientos; barrera contra vientos wholly owned subsidiary subsidiaria en propiedad absoluta windfall profit utilidad imprevista, euraordinaria widening see capital widening window [computers] wildcat (drilling) ventana perforacion exploratoria Exploratory drilling for oil and/or gas on a window (in a market) geologic feature not yet proven to be productive, in resquicio an unproven territory or in a zone that has never Short-lived opportunity to issue securities that produced or is not known to productive in the may be taken up by any of a significant number of general area. highly rated borrowers. [see also discount window; Third Window] wildcat well pozo exploratorio window dressing alteracion del balance; manipulacion de la wild flooding contabilidad (para aparentar una mejor riego por desbordamiento natural situacion) Method of irrigation which consists of spilling Financial actions such as stock market trading, water at frequent intervals from a grade ditch whose purpose is to make a corporation's financial constructed along the high edge of a sloping field. situation seem better than it really is, just before The water is allowed to flow freely down the slope, the publication of a balance sheet or other irrigating the soils the water moves across. financial statement. Interceptor ditches are placed at intervals down the slopes to collect the water. Used primarily for window guidance [central bank] irrigating low-income crops un steep lands where restriccion oficiosa del credito uniformity of water distribution is not a major Unofficial control of interest rates by central bank. consideration. "with-and-without" test [projects] wildland management area - WMA proeba, metodo de "con y sin" zonas siIvestres administradas A test of the net benefit with and without the Area where wildlands are protected and managed project. to retain a relatively unmodified state. withholding tax wildland management unit - WMU impuesto retenido en la fuente zona silvestre protegida women in development - WID wildlands participacion de la mujer en el proceso de zonas silvestres desarrollo willingness to pay - WTP woodfuel voluntad de pagar; disposicion para pagar lena; combustible de biomasa lenosa 241 word processor working ratio operador(a) de tratamiento de tenos; maquina coeficiente de explotacion de tratamiento de tenos Cash working expenses divided by operating revenues, expressed as a percentage. workers' remittances remesas de los trabajadores (emigrados t working table; performance chart; management expatriados) chart diagram at grafico de situacion working account cuenta de explotacion workmen's compensation A normal revenue and expense account. indemnizacion por accidentes de trabajo working age population workout [financial] poblacion en edad de trabajar reestructuracion financiera Arrangements between borrowers and debtors working agreement (usually at international level) to extend repayment acuerdo provisional (para facilitar ulteriores schedules and provide new credit at reduced labores) interest rates. working capital workout arrangements; workouts [IFe] capital de trabajot de explotacion arreglos The capital necessary to purchase goods and Arrangements between borrowers and debtors services that are used for the production activities (usually at international level) to extend repayment of an enterprise and that are turned over during schedules and provide new credit at reduced the production cycle. interest rates. [see also noncash working capital] workshop [training] working capital loan cursillo prestamo para capital de trabajo; credito de avio World Bank's Bank Banco del Banco Mundial working capital ratio see current ratio Proposed organization to help raise and channel additional money for use in developing countries. working capital statement see statement of Would probably had a greater lending-to-assets changes in financial position ratio than one-to-one as observed by the Bank itself Would have had more flexibility in raising working funds money than the Bank. The project has been fondos de explotacion abandoned. working interest [oils, minerals] World Bank Group participacion del concesionario; interes Grupo del Banco Mundial economico directo The fractional interest of the lessee of a tract of (World Bank) Manufacturing Unit Value (MUV) land in the production of crude oil and gas from Index the tract. Costs are borne at the same rate as the in dice del valor unitario de las manufacturas- interest held. VUM Industrial countries' indices of US dollar unit working population values of manufactured exports to developing poblacion activa countries. There are two indices - the Cll index which combines a 90% weight of FOB export prices with a 10% weight of transport costs and a FOB index. 242 World Development Indicators - WDls Indicadores del desarrollo mundial List of key economic indicators (e.g. population, labor force, urbanization, health-related indicators) given in the Annex to the World Development Report "wrap-up" insurance arrangement plan de seguro global wrap-up insurance policy poliza de seguro global Insurance policy covering several contractors all working on the same project. wrap-up meeting reunion de conclusiones write down, to; expense, to castigar; rebajar el valor en libros; amortizar parcialmente en libros To transfer a portion of the balance of an account previously regarded as an asset to an expense account or to profit and loss. write off [noun] anulacion, cancelacion en libros When an asset or a portion of an asset is recognized as worthless, it is removed from the books of a corporation and a corresponding loss in the corporation's capital is recognized. [see also cumulative write-offs; tax write-oft] write off, to anular; eliminar en libros; amortizar total mente en Iibros writing down castigo, reduccion del valor en libros; amortizacion en (ibros write up [USA] aumento del valor en libros 243 zero coupon bond bono sin cupon -x- Bond that pays no interest but is sold at a steep discount and paid off at par. x-efficiency zero fee policy eficiencia x politica de servicios gratuitos A situation in which a firm's to~'" costs are not minimized. because the actual output from given zero population growth - ZPG inputs is less than the maximum feasible level. crecimiento cero de la poblacion xenocurrencies zero sum game xenomonedas; xenodivisas juego de suma cero, nula A deposit or loan denominated. in a currency other than that of the country in which the bank is zero tillage system located.. sistema de cultivo sin laboreo, de cero labranza Cultivation involving zero plowing, i.e. by planting directly on the soil surface, usually using -y- manure, hay or some other substance to aid growing. yellow stained. cotton zone extension officer - ZEO [agricultural algodon amarillento extension] Cotton almost entirely discolored to a slightly oridal de eJ:tension de zona - OEZ mottled. tan color. Senior extension officer, at the highest level. yield curve curva de rendimiento Graph relating rates of return to maturity. yield rate t&sa de rendimiento yield test of projects pl1leba del rendimiento de los proyectos yield to maturity - TIM rendimiento aI veneimiento The return a security earns assuming that it is held until a certain date and put to the borrower at the specified. put price. -z- zero base budgeting - ZBB presupuestacion a partir de cero A budget process which requires managers to justifY each requested. budgetaIy expenditure anew each year. Spanish-English Glossary Glosario espaiiol-ingles 247 a granel absorber bulk, in take over, to a nivel popular, comunitario, local absorbido(a) por grass root(s) level, at the taken over by a titulo de donadon acarreo entre terminales grant basis, on a line-baul [transportation] a titulo oneroso accesibilidad fmandera consideration, for a; valuable consideration, for affordability a titulo oneroso accesion payment basis, on a accession abandono accion ajustable y convertible droppage [IFC] convertible adjustable stock abastetimiento de agoa action con derecho de veto water supply golden share abogado action de primera clase advocate [lCSID] blue chip; blue chip security abonado action ordinaria consumer [telecommunications] common share; common stock; ordinary share; equity abonado con rastrojo stubble mulch farming action ordinaria equity; common share; regular share [stock abono de base exchange] basal dressing; bottom dressing action recibida como dividendo abono de cloaca, de letrina bonus share night soil actiones abono de superfitie corporate stocks; equity top dressing [agriculture] actiones de adhesion abono simple membership shares [World Bank] single fertilizer acciones de valor inmable abonoverde volatile stock green manure actiones en cireulacion abrevadero outstanding shares, stock watering place actiones habilitantes abrevado [ganado] qualifying shares stock watering [livestock] 248 acciones nominativas actividad comercial registered share, stock; personal stock business line acciones pagadas actividad de demostracion paid-up stock; fully paid stock demonstration activity acciones preferenciales, preferentes, preferidas actividades con fines de lucro directamente preferred stock improductivas directly unproductive profit seeking (DUP) acciones que confieren derecho de voto activities voting stock actividades de extension, de divulgacion aceite pesado outreach activities heavy oil actividades iniciales aceleracion del vencimiento initial operation acceleration of maturity (ofa loan) [ffiRD] actividades previas a la explotacion aceptacion bancaria predevelopment work [oil] acceptance; bank acceptance; banker's acceptance activo(s) acondicionamiento de tierras assets land development activo contingente acontecimiento contingent asset development activo corriente acreedor no prioritario current assets junior creditor activo de reserva acreencia reserve asset financial claim activo disponible y realizable a corto plazo acreencia [banca] current assets claim activo financiero acreencias no redituables, improductivas financial claim nonperforming debt activo neto acta (de la Comision) stockholders' equity; shareholders' equity; owners'. report (of Commission) [ICSID] equity; equity; net worth acta de sesion(es) activos a la vista proceedings sight assets Actas Resumidas activos a su valor de adquisici6n Summruy Proceedings historically valued assets actividad basica activos autoliquidables, autoamortizables core process [ffiRD] self-liquidating assets 249 activos en el exterior actuaciones (juridicas) foreign assets proceedings activos fijos actualizado a partir del segundo aDo capital assets; fixed assets; permanent assets; fixed time-adjusted [project analysis] capital [accounting] actualizar activos intangibles, inmateriales discount, to [finance] intangible assets, property acuerdo basico activos liquidos, disponibles frame agreement [IBRO] liquid assets; quick assets acuerdo condicional de reembolso activos no redituables, improductivos qualified agreement to reimburse nonperforming assets acuerdo de arrendamiento de equipo para activos productivos operaciones earning assets operating leasing agreement activos reales acuerdo de cesion real assets assignment agreement activos redituables, productivos acuerdo de comercializacion performing assets marketing arrangement activos sobre el exterior acuerdo de compromiso contingente foreign assets standby agreement [IFC] activos transitorios acuerdo de concesion temporary assets franchising agreement activos varios acuerdo de cooperacion general sundty assets framework cooperative arrangement [MIGA] activos vendibles acuerdo de derecbo de giro saleable assets standby arrangement [IMF] acto de gobiemo acuerdo de destinacion especial act of state; sovereign act doctrine set aside agreement actuacion acuerdo de ejecucion performance implementing agreement actuacion de las instituciones acuerdo de garantia institutional performance security agreement actuaci6n rmanciera Acuerdo de la Ronda de Tokio financial performance, results Tokyo Round Agreement actuacion oral acuerdo de licencia, de concesion de Iicencia oral procedure [ICSID] licensing agreement 250 acuerdo de mantenimiento de la situacion acumulacion existente bunching standstill agreement acumulacion de existencias acuerdo de recompra stockpiling buy-back agreement; take-out agreement; repurchase agreement acumulacion de vencimientos bunching of maturities acuerdo de reprogramacion multianual de la deuda acumulacion de vencimientos multiyear rescheduling arrangement; multiyear debt bunching restructuring agreement - MYRA acumulaciones acuerdo de retencion de acciones accruals share retention agreement [IFC] adelanto acuerdo firme de compra (sin dei'echo de development rescision) take-or-pay agreement, contract adelanto del vencimiento acceleration of maturity (of a loan) [IBRD] acuerdo global; acuerdo marco umbrella (agreement) adelanto respecto del plazo previsto time underrun Acuerdo Multifibras Multifibre Arrangement adelantos y atrasos leads and lags acuerdo provisional (para facilitar ulteriores labores) adelgazamiento de la capa de ozono working agreement ozone hole acuerdo sobre un producto basico, primario adhesion commodity agreement accession acuerdos compensatorios adhesion oficial offset agreements formal adherence acuerdos de credito adicionalidad credit arrangements additionality acuerdos de "hermanamiento" adiestramiento twinning arrangements skills development acuerdos intemacionales sobre productos adiestramiento en el empleo, trabajo basicos on-the-job training international commodity agreements, arrangements adiestramiento en el servicio in-service training acuerdos regionales de integracion regional integration arrangements aditivo que aumenta el octanaje octane booster 251 aditivo (que aumenta la cantidad) administrador del proyecto extender [gasoline] project manager adjudicacion administradores award [contracts] managers adjudicacion (de titulos de propiedad) de la admision tierra intake titling (land) adoption (por el prestatario) de un programa adjudicatario comopropio successful bidder borrower ownership administracion, la adquisicion de un solo proveedor Management [World Bank] sole source procurement administracion colegiada adquisicion en grandes cantidades, en grueso collegial management bulk procurement administration de activos y pasivos adquisicion no conforme con los procedimientos asset and liability management reglamentarios misprocurement [lBRD] administracion de impuestos tax office adquisicion reservada (a proveedores, contratistas nacionales) administracion de la ayuda a los paises reserved procurement counuy assistance management - CAM adscripcion administracion de proyectos secondment project management afiliada administracion local affiliate local authority; local government afiIiadas administracion participatoria sister companies participative management afinamiento (de la economia) administracion por objetivos fine tuning (of the economy) management by objectives - MBO afirmacion administracion portuaria claim port authority afluencia de capital administracion publica capital inflow civil service; government services afluencia de fondos administracion superior cash inflows senior management aCoro administraciones pUblicas valuations for customs purposes general government [national accounts] 252 agente agregado agent [bank syndicate] aggregate agente (de cambio y bolsa) agregados monetarios broker monetary aggregates agente comprador agricultor con pequefta(s) explotacion(es) buying agent [commodities] satelite(s) outgrower agente de adquisiciones procurement agent agricultor de enlace contact farmer [agricultural extension] agente de compras buying agent [commodities] agricultor innovador advanced farmer agente de extension, de divulgacion agricola extension agent, worker agricultura de subsistencia subsistence farming agente de extension a nivel de poblado field-level extension worker agricultura en tierras de aluvion floodplain agriculture, cultivation agente de extension agricola agricultural extension officer - ABO agricultura industrial factoty farming agente de extension de poblado - AEP village extension worker - VEW agroeconomista agro-economist agente de salud comunitaria community health worker - CHW agroindustrias agribusiness; agroindustries; agro-based industty; agente en el terreno agroprocessing industries field agent agronomo agente financiero agriculturist fiscal agent agrosilvicultura agilizacion agroforestty; farm forestty streamlining agua brota, cruda, sin tratar agio raw water premium [securities] agua corriente, por tuberia agotamiento de la capa de ozono piped water ozone depletion agua potable agotamiento previo de las vias administrativas 0 safe water; drinking water; safe drinking water judiciales (de un Estado) exhaustion of local administrative or juridical agua que no produce ingresos remedies [ICSID] nomevenue water 253 aguada ajuste financiero watering place financial adjustment aguadero ajuste gradual del tipo de eambio watering place crawling peg [rate of exchange] aguas residuales, de des«ho, seJ'Vidas, negras ajuste institudonal wastewater organizational fine tuning agujero en la capa de ozono aI eosto de los faetores ozone hole factor cost, at - i.c. ahorrador negativo aleanee dissaver coverage ahorro de energia aleantarilla colectora, maestra energy conservation trunk sewer ahorro forzoso aleantarillado de arrastre hiddulieo compulsory saving; forced savings waterborne sewage system ahorro interno alfabetizadon domestic savings literacy; literacy education ahorro negativo alfabetizadon fundonal dissaving functional literacy aisladonista algodon amarillento inward-looking; inward-oriented [country; policy] yellow stained cotton ajustado para tomar en euenta las variaeiones algodon amerieano estaeionales hairy cotton; upland cotton seasonally adjusted algodon arboreo ajuste tree cotton; Ceylon cotton; Siam cotton; China adjustment cotton ajuste eambiario algodon de Barbados exchange adjustment kidney cotton; West Indian cotton; Sea Island cotton; Egyptian cotton; ajuste de la(s) politiea(s) industrial y eomereial industrial and trade policy adjustment - ITPA algodon de fibra eorta short staple cotton ajuste de traduedon (de monedas) translation adjustment [accounting] algodon de fibra eItra larga extra long staple cotton ajuste del dgimen eomereial trade adjustment algodon de fibra larga long staple cotton ajuste exeesivo overshooting 254 algodoo de libra mediana almaceo de aduanas medium staple cotton bonded warehouse algodoo de las Indias Occideodales alojamiento para el persooal Sea Island cotton; west Iodian cotton; Egyptian staff house cotton; kidney cotton alteracioo del balance algodoo de las Islas Occideotales window dressing Egyptian cotton; kidney cotton; Sea Island cotton; West Indian cotton alteroancia rapida (de medidas) de expansion y cootraccion algodoo egipcio stop-go, stop and go policy West Indian cotton; Sea Island cotton; Egyptian cotton; kidney cotton alteroativa alternative [projects]; trade-off algodoo gris claro gray cotton; light gray cotton; blue stained cotton alto fuocionario senior manager algodoo herbaceo American short staple cotton; Arabian cotton; alumnos por profesor herbaceous cotton; Levant cotton student-teacher ratio - STR; pupil-teacher ratio - PTR.; teacher-pupil ratio algodoo ligerameote manchado light spotted cotton alza de tarifas tariff escalation algodoo manchado spotted cotton alza por efecto de trioquete ratcheting up algodoo tintado tinged cotton ambieote propicio, favorable enabling environment algodoo upland upland cotton; haity cotton ambito de aplicacion de las recomeodaciones recommendation domain algodoo velloso haity cotton; upland cotton amiguismo cronyism alimento basico staple (food) amoistia tributaria tax amnesty alimeotos iogeridos food intake amortizable redeemable alimentos para el periodo de destete weaning foods amortizacion redemption alivio relief amortizaci6n (depreciacioo) lioeal, coostante, de cuotas liju alivio de la carga de Ia deuda depreciation on a straight line; straight line debt relief depreciation 255 amortizacion en libros analisis hedoRico de los precios writing down hedonic price analysis amortizar pareiaimente en libros an41isis por conglomerados, grupos write down, to~ expense, to cluster analysis amortizar totalmente en libros an41isis transversal write off, to cross-sectional analysis ampliacion Andropogon gayanus extension [building] andropogon ampliacion del capital anegamiento capital widening waterlogging am\lisis de costo minimo anegamiento controlado least cost analysis controlled flooding an41isis de costos-beneficios anexo [convenios de prestamo 0 credito] cost-benefit analysis schedule anaIisis de la capacidad limitante animales de cruza bottleneck analysis cross-bred progeny [livestock] an41isis de la inddencia fiscal animales reproductores tax incidence analysis breeding stock anaIisis de las ofertas antecedentes (profesionales) examination of bids background [education] anaIisis de punto muerto, de equilibrio antecedentes academicos breakeven analysis educational background anaIisis de redes anticipacion del vencimiento network analysis prematuring anlilisis de 8ensibilidad anticipo de caja sensitivity analysis cash advance anaIisis del crecimiento anticipo para movilizacion growth accounting [econometry] mobilization advance [contracts] an4lisis del equilibrio general antiseleccion de riesgo general equilibrium analysis adverse selection [MIGA] anaIisis del valor antradta value engineering anthracite; hard coal an41isis del valor hedonico antradta hedonic price analysis hard coal; anthracite 256 anualizacion apoderado annualization agent [ICSID] anulacion aportacion cancellation input anulacion de una deuda aportacion con caracteristicas de donacion debt cancellation grant-like contribution anulacion en libros aportadon en efectivo write off [noun] cash input [accounting] anuladones acumuladas en Iibros aportadon en mano de obra propia cumulative write offs sweat equity anular aportadones suplementarias write off, to supplementary contributions [IDA] anundo de emision efectuada aporte en efectivo tombstone cash input [accounting] anundo general de adquisiciones aportes general procurement notice payroll contributions aDo agricola apoyo crop year backstopping aDo base apoyo de los intereses base year interest support apagon apoyo de precios outage [electricity] price support aparceria aprender con la practica sharecropping learning by doing apertura de ofertas aprender sobre la marcha bid opening learning by doing aplanamiento de una curva aprobacion flattening out clearance aplazamiento impositivo aprobacion tacita tax deferral "no objection" (procedure) aillicatiim de fcrtilizantcs a v(deo aprovechamiento blOad..:a'ilfl)! (,.:;\,;d rcrtdll<.:r) development; harnessing allrovechamicnto de aguas water harvesting 257 aprovechamieoto de la eoergia hidroelectrica arranque hydrodevelopment take-off aprovechamiento de tierras arrastre de troncos land development skidding aprovisionamiento de combustible [barcos] arreglo (de una diferencia) bunkering settlement (of a dispute) [ICSID] arancel arregios tariff; tariff schedule work-out arrangements; work-outs [IFC] araneel de "puro estorbo" arrendamiento nuisance tariff leasing arbitraje de cambios arrendamiento fmanciero exchange aroitrage finance lease; financial, full payout lease; leasing arbitraje de intereses con cobertura arroz acuatieo covered interest arbitrage flooded rice arbitraje impositivo arroz de montana, de tierras altas, de secano tax aroitrage upland rice; mountain rice; highland rice arbitro arroz flotante aroitrator [ICSID] floating rice arbitro dirimente articulo basico umpire [legal] staple (good) arbol de cultivo, aprovechable articulo de propaganda, de eebo, de reclamo crop tree loss leader arbol forrajero articulo patentado 0 de marca registrada forage tree proprietary good, item arboricultura artiga tree farming ash farming; burn-beating; burning area habitable asegurador living area underwriter [securities] arenas asfaIticas asentamiento tar sands land settlement; shakeout (of the market) arenas impregnadas de brea asentamientos humanos oil sands; tar sands human settlements arenas petroliferas, asfaIticas asientos (contables) oil sands accounting entries; entries 258 asignaci6n asignaci6n por trwado provision [accounting) relocation grant asignaci6n de divisas asignaci6n presupuestaria exchange allocation allotmen; appropriation [budget]; budget appropriation asignaci6n de las utilidades allocation of profits; appropriation of profits asignatora subject matter [education] asignaci6n de los fondos del preaamo allocation of loan proceeds asistencia en apoyo de politicas poUcy-based assistance asignaci6n de 108 ingresos netos allocation of net income asistencia en condiciones concesionarias, muy favorables asignaci6n de los recursos concessional, concessionary aid allocation of resources asistencia en especie asignaci6n desacertada de 108 recursos commodity assistance misallocation of resources asistencia no destinada a proyectos especificos, asignaci6n para mas de precios para fines generales price contingencies nonproject aid asignaci6n para depreciaci6n asistencia oficial para el desarrollo - AOD reserve for depreciation; allowance for official development assistance - ODA depreciation; depreciation allowance asistencia operacional - ASOP asignaci6n para excesos de cantidades fisicas Operational Assistance - OPAS [UNDP] physical contingencies asistencia para fines de ajuste asignaci6n para instalaci6n adjustment aid settling-in grant [IBRD] asistencia para programas asignaci6n para vacaciones en el pais de origen program aid home leave allowance [World Bank] asistencia para proyectos asignaci6n por agotamiento project aid depletion allowance, reserve asistencia social asignaci6n ,or cargas familiares, ,or persona a social welfare cargo dependency allowance asistencia tknica independiente free-standing technical assistance - FSTA asignaci6n ,or construcci6n construction allowance asistencia tknica para desarrollo institucional institution-related technical assistance; soft asignaci6n por reasentamiento, por technical assistance reinstalaci6n resettlement grant 259 asistencia '&eeniea relacionada con las atenuaci6n de los impuestos inversiones en adiv08 fisie08 tax mitigation engineering-related technical assistance; hard technical assistance atraeci6n crowding in asistencia '&eeniea reladonada con los componentes fisie08 atraso(s) en los pagos engineering-related technical assistance; hard payment arrears technical assistance auditar asistenda teeniea relaclonada con los audit, to eomponentes no fisicos 0 de servidos institution-related technical assistance; soft auditor technical assistance auditor asistente teenieo auditoria technical assistant audit [finance] asociad6n auditoria ambiental partnership environmental audit asoeiaei6n de ahorro y eredito rotatorio auditoria general, integral, a fondo rotating savings and credit association - ROSCA comprehensive auditing asoeiaei6n de pastoreo eomunitario auditoria impositiva, tributaria pastoral association - PA tax audit aspectos eomplementarios auditoria interna complementarity internal audit aspectos econ6mie08 del retroeeso auge economics of regress development aspeetos soeiales del ajuste aumento de la produeci6n social dimensions of adjustment - SDA production build up asumir aumento de la temperatura mundial take over. to global warming asumir eomo propio aumento de preeio own, to mark-up atenci6n basica de salud aumento del capital basic health care capital widening ateneiOn primaria de (la) salud aumento del capital eon respeeto aI trabajo prinwy health care capital deepening atender el servido de un p.-estamo aumento del eomponente de servicios en los service a loan. to produet08 manufaeturad08 dematerialization of manufactures 260 aumento del valor en Iibl'08 autonomia write up [USA] self-sufficiency aumento general del capital autonomo General Capital Increase - Gel free-standing; self-contained aumento por merito autoria merit increase borrower ownership; ownership (of programs) aumento selectivo del capital autoridad emisora Selective Capital Increase - SCI underwriting authority [MIGA] austeridad financiera autoridad portuaria :financial restraint, stringency port authority austeridad monetaria autoridad que efectUa la designacion monetary restraint Designating Authority (of Panel Members) [ICSID] austeridad salarial wage restraint autoridades government autoabastecimiento self-sufficiency autoridades municipales, provinciales, etc. local authority; local government autoaseguro self-insurance autoridades municipales, provinciales, etc. local government; local authority autoayuda self-help autorizacion authority [legal]; clearance autocontrol self-restraint autorizacion legal legal authority autocorreccion self-adjustment autorizacion legislativa enabling legislation autoctonizacion localization autorizacion presupuestaria appropriation [budget] autodeterminacion self-detennination autorizado registered (e.g. tradesmen) autofinanciamiento self-financing autorregulacion self-adjustment autolimitacion self-restraint autosnficiencia self-sufficiency automatizacion de oficinu office automation autosnficiencia colectiva collective self-reliance 261 autoterapia ayuda para programas self-care; self-treatment program aid autotransbordo ayuda para pro)'ectos roll-onlroll-off - ro/ro project aid autotratamiento ayuda presupuestaria, para el presupuesto seIf-care; self-treatment budgetary aid auxiliar apedal bacheo staff assistant patching; spot improvement, patching; road, swface patching [highways] auxiliara de enseilanza teaching aids bacheo de bacha spot patching, improvement; road, swface auxiUo patching; patching [highways] relief baden avaliio aduanero, de aduana submerged bridge customs valuation (practices) baja (de adivos rljos) avaliio para rmes impositivos retirement (of a fixed asset) tax assessment; assessment for tax balance (general) consolidado avaliio pericial consolidated balance sheet expert appraisal balance de energia avance energy audit development balance forrajero aviso de desembolso feed balance; feed estimate disbursement letter balance hid rico avitaminosis water balance vitamin deficiency balanza comercial ayuda condicionada, vincuIada trade balance; balance of trade; merchandise tied aid balance ayuda en condiciones concesionarias, mu)' balanza de recUr80S favorables resource balance concessional, concessioruu:y aid balanza en cuenta corriente ayuda no condicionada, desvinculada current balance of payments untied aid banco afitiado ayuda no destinada a pro),ectos especificos, affiliate bank para fines generales nonproject aid banco agente agent bank 262 banco autorizado bancos estableeidos en las principales plazas authorized bank financieras money center banks banco codirector [emisiona de bonos] colead manager bandera de conveniencia, de favor flag of convenience; open registry flag banco comercial, privado commercial bank bailo dip {stockbreeding] banco cOrrelponsal agent bank; correspondent bank barbecho en maleza bush fallow banco de credito para la producci6n y las exportaciones agropecuarias barbecho forestal ,!gricultural n.roduction and ~rt (apex) bank forest fallow banco de desarrollo, de fomento barn de refuerm development bank reinforcing bar; rebar banco de genes barrera contra vientos gene bank [plants] windbreak banco de importancia secundaria barrera no arancelaria second tier bank nontariffbarrier - NTB banco de inversiones barreras arancelarias investment bank [US]; merchant bank [UK] tariff barriers banco de segunda instancia barrila de equivalente en petr61eo - bep second tier bank barrels of oil equivalent - boo Banco del Banco Mundial barrila diarios de equivalente en petr61eo - World Bank's Bank bdep barrels per day of oil equivalent - bdoe banco depositario depository bank barrio de tugurios slum banco director lead bank; lead manager base base; road base [highways]; hard core [projects] banco emisor, de emisi6n issuing bank; bank of issue base de dlculo &cumulada cumulative charge number [currency pool] banco extraterritorial offshore bank base de dlculo de la tasa de intera charge number [currency pool] banco hipotecario mortgage bank base de dlculo de la tasa de interes de los desembolsos acumulados banco principal cumulative charge number [currency pool] apex bank, institution 263 bue de capital beneficlol ecol6gicol capital base environmental services bue de capitalln1Jrida beneficlos soclales hybrid capital base [IFC] social returns [projects] bue imponible bien comerciable no comerclado tax base tradable but nontraded (good. item); nontraded tradable bue monetaria reserve money; base money; high-power(ed) bien comerciable, comerclalizable, exportable 0 money importable tradable [noun] bues de licltaci6n bidding conditions bien no comerciable, no comerclalizable nontradable [noun1 buico hard core [projects] bienes assets beea McNamara McNamara Fellowship blenes comerciad08, comerclalizados, exportados 0 importados beeario McNamara traded goods McNamara Fellow bienes comunes de la humanidad beneficlario global commons loss payee bienes de capital, de equipo beneficlari08 designados, esoogidos, espeeificos, capital equipment; capital goods seleecionad08 targeted beneficiaries bienes de consumo consumer goods beneficio beneficiation [minerals] bienes de consumo duraderos consumer durables beneficio contractual beneficial interest bienes de escaso intem social demerit goods beneficio derivado indireeto stemming-from benefit bienes de intem social merit goods beneficio inducido indireeto induced-by benefit blenes de inveni6n, de equipo, de capital investment goods beneficlo marginal marginal benefit brenes de produccl6n producer goods beneficlos adiclonales incremental benefits bienes duraderos durable goods; durables 264 bienes en existencia biodiversidad off-the-shelf goods biodiversity bienes fungibles boca de(l) pozo fungible goods wellhead bienes fungibles, de eonsumo boceto consumables sketch plan [architecture] bienes industriales bomba de operacion y mantenimiento a nivel industrial goods del poblado - BOMPO village level operation and maintenance (VLOM) bienes inmuebles, raices pump real assets bomb a de refuerzo bienes intangibles, inmateriales booster pump intangible assets, property bomba ec'ilica bienes intermedios wind pump intermediate goods bonificacion bienes materiales, tangibles, corporeos bonus; development; incentive payment tangible assets, property bonificacion de tierra bienes no eomerciados, no comercializados, no land reclamation exportados 0 importados nontraded goods bonificacion por desearga rapida despatch money; dispatch money bienes no exclusivos, no excluyentes nonexcludable, nonexcludible goods bonification por trabajo en el exterior overseas allowance bienes preferentes, deseables merit goods bonificar reclaim bienes salariales wage goods bono ajustable, indizado indexed, index-linked bond bienes y servicios goods and services bono aI portador bearer bond bienes y servicios eeologicos, para la proteccion ambiental bono Brady environmental goods and services Brady bond bienestar sodaI bono clasico, ordinario social welfare straight bond bifenilo policlorinado - BPC bono con certificado polychlorinated biphenyl - PCB warrant bond 265 bono con cup6n bono perpetuo, de renta vitalicia coupon bond annuity bond bono con garantfa de activ08 [Reino Unido] bono publico, del Estado debenture (bond) government bond bono con interis variable, flotante bono sin cup6n floating rate bond zero coupon bond bono con opci6n de cambio de divisas bono sin garantia especifica (multiple) (currency) option bond debenture (bond) bono con vencimiento degido a la suerte bonos del gobiemo britlinico serial bond gilt-edged securities bono convertible bonos en circulaci6n convertible bond outstanding bonds bono de desarrollo bonos, etc. emitidos mediante oferta publica development bond publicly issued (bonds, etc.) bono de descuento intensivo bosque (humedo) tropical deep discount bond, note tropical rain forest bono de exclusi6n bosque comunal exit bond village woodlot bono de una empresa privada, de una bosque de altura compadia, de una sociedad an6nima mountain forest corporate bond bosque de coniferas bono de vencimiento escalonado softwood forest serial bond bosque de especies frondosas bono del Tesoro temperate hardwood forest Treasury bond bosque de especies frondosas, no coniferas bono descontado hardwood forest discount bond bosque de producci6n bono emitido con descuento production forest original issue discount (DID) bond bosque de protecci6n bono nominativo protected forest registered bond bosque de segundo crecimiento, bosque talado bono participatorio cut-over forest income note bosque de usos multiples bono perpetuo mixed-use forest perpetual bond 266 bosque destinado a convertine en.•• buque eisterna conversion forest tanker bosque bUmedo, pluvial buquetanque rainforest tanker bosque mixto bnsqueda de personal calificado mixed forest head hunting bosque protegido cabeza de(I) pozo protected forest wellhead bosque publico protegido cabotaje gazetted (protected) public forest coastal shipping bosque reservado cafe pergamino designated forest parchment coffee bosque totalmente protegido caja de credito para la produccion y las preservation forest exportaeiones agropecuariu griculturalllroduction and ~rt (apex) bank brecba gap caja de seguridad social social security fund brecba de rmaneiamiento funding gap dlculo de costos directos direct costing brecba de pobreza poverty gap dlculo de precios sociales social pricing brecbaderecursos resource(s) gap calendario schedule brecba deftadonaria deflationary gap calendario del servicio de la deuda debt service schedule brecba finandera ex ante ex ante financing gap calentamiento de la Tierra global warming brecba inflacionaria inflationary gap calidad de miembro; ingreso membership [IFC] buen ejercicio del poder governance caUdad para elaboracion manufacturing grade [meat] buen gobierno governance calificacion performance evaluation [personnel] buena gestion de la cosa publica governance calzada de servicio service road 267 camara de compensation [bancos] canal de descarga clearing house spillway chute; tailrace cambio dimatico circunstandal canal de presion, de carga transient climate change penstock [hydroelectricity] cambio dimaifico de equilibrio canal de un rio equilibrium. climate change river channel cambio desfavorable de la coyuntura canalero downturn (economic) ditch rider; waterman cambio favorable de la coyuntura cancelacion upturn (economic) cancellation camino de acceso, secundario, vecinal cancelacion en libros feeder road write off [noun] camino de grava canceladones acumuladas en libros gravel road cumulative write offs camino de normas reducldas, bajas canon por pie low standard road stumpage fee camino de salida cantidad asegurada corriente evacuation road current insured amount; current amount [MIGA] camino de tierra cantidad corriente earth road current insured amount; current amount [MIGA] camino trazado tec:nicamente cantidad representativa (de los emprestitos del engineered road BIRF contraidos antes del inido del sistema de tipos de interes basados en una cesta de camion dsterna emprestitos pendientes) tanker proxy [ffiRD lending rates] camion tanque cantidades de dinero nuevo tanker new money packages campana cantidades para los pianos definitiv05 crop year final design quantities campo de aplicacion capa de base coverage base; road base [highways] campo de atendon especial de las operaciones capa de ozono area of operational emphasis - AOE; special ozone layer operationalemphasis-SOE capa freatica canal de derivacion groundwater table floodway; high-flow diversion 268 capa intermedia capacidad de palO base course [highways] aft'ordability capa superficial, de rodadura capacidad de produccion surface course; wearing course [highways] productive capacity capaddad capacidad de reaccion capability [urban development] buoyancy [economics] capacidad crediticia capacidad de recuperacion de la tierra creditworthiness; financial standing land resilience capacidad de absorcion capacidad de reserva inmediatamente absorptive capacity; carrying capacity (of the disponible Earth) spinning reserve [electricity] capacidad de acarreo capacidad de sostento carrying capacity [transportation] carrying capacity [pastures] capacidad de acceso a ••• capacidad de tratico aft'ordability load bearing capacity; traffic bearing capacity capacidad de atraque capacidad empresarial bertbing capacity entrepreneurship capacidad de carga capacidad excedentaria carrying capacity [pastures]; stock carrying excess capacity capacity [livestock] capacidad ganadera capacidad de despacbo de buques carrying capacity [pastures] berth throughput capacidad instalada capacidad de diseiio, nominal, de regimen installed capacity [electricity1 rated capacity capacidad no utilizable capacidad de endeudamiento dead storage (capacity) borrowing capacity; debt carrying capacity capacidad no utilizada capacidad de endeudamiento en, por concepto slack [economy1 [noun1 de garantias guarantee leverage capacidad nominal, de diseiio design capacity capacidad de garantia guarantee capacity [MIGA] capacidad para atender el servicio de la deuda debt servicing capacity capacidad de importacion derivada de las exportaciones capacidad para valerse por si mismo importing power of exports self-reliance capacidad de obtencion de ingresos capacidad tributaria earning power tax-paying capacity 269 capacidad Dill capital creado por el hombre live storage, capacity man-made capital capacidades buicas capital de riesgo basic skills risk capital; venture capital capacitacion capital de trabajo, de explotacion skills development working capital capacitacion de instl1lctores capital de trabajo, de explotacion no disponible wholesale training inmediatamente noncash working capital capacitacion en d empleo, trabajo on-the-job training capital en prestamo loan capital capacitacion en el servicio in-service training capital extranjero, extemo (oficial, privado) foreign capital (official, private) capacitacion en la empresa in-house training capital fijo capital assets; fixed assets; permanent assets; fixed capacitacion para el puesto, cargo capital. [accounting] job-related training capital fugado capitacion flight capital capitation tax; poll tax; head tax capital fugaz, inestable capital (de un prestamo) volatile capital principal capital improductivo capital (social, accionario) no-return equity equity capital improductivo, "lastre" capital accionario autorizado deadwood equities [IFC] authorized share capital capital inmovilizado capital accionario emitido locked-up capital issued share capital capitallibre de gravamenes capital autorizado unimpaired capital authorized capital stock [MIGA] capital nacional [para un pais] capital cireulante, tlotante capital stock floating capital capital nacional fijo capital comereial, en condiciones de mereado overhead capital commercial capital capital natural capital congelado, bloqueado natural capital frozen capital 270 capital oficial, publico carbon de alto poder calorifico official capital steam coal capital pagado carb6n limpio, libre de impurezu called up (share) capital; paid in (share) capital clean coal capital pagado, totalmente pagado carb6n sin duificar, tal como sale, en bruto paid-up capital mine run coal; run-of-mine coal capital simiente, generador seed money; seed capital carb6n termico steam coal capital soclal buico capital infrastructure carbonera bunker [coal] capital social fijo overhead capital carente de derecho a ineligtole capital social, accionario equity capital; capital stock (of a corporation) carga de bue, fundamental base load [electricity] capital social, accionario, en acciones registered capital; share capital carga de punta peak load capital suscrito y no desembolsado uncalled capital carga docente teaching load capitales itinerantes hot money; funk: money [UK] carga excesiva de la tributacion efficiency cost of taxation; excess burden of capitalizacion de la deuda taxation debt-equity conversion; debt-equity swap carga familiar capitalizaci6n de la deada dependent debt-equity swap; debt equity conversion carga fraccionada captacion breakbuIk capture (e.g. ofpublic services); harnessing carp ganadera captacion de renias stocking rate [livestock] rent -seeking carga general carb6n antracitoso general cargo anthracite; hard coal carga impositiva, tributaria, fISCal carbon bituminoso tax burden brown coal carga milta carbon coquificable general cargo coking coal carga util payload 271 cargo cargos autorizados charge; lien [legal] authorized positions [personnel] cargo cargos contables excesivos lien; charge [legal] overaccruals cargo (aplicado) segUn la concentracion de 1011 cargoll diferidOI contaminantes deferred charges, expenses strength charge cargos por efluentes cargo (aplicado) segUn volumen de descarga effluent charges volumetric charge cargos por manipulacion, tramitacion, etc. cargo at usuario handling charges chargeback carretera de normas reducidas, bajas cargo ejecutivo, de direccion, de supervillion low standard road line management position carreteras troncates, principatell cargo ejecutivo, de operacionell trunk roads line position carta a la adminilltracion cargo por contaminacion del agua management letter [auditing] water effiuent charges carta complementaria cargo por medidor, por contador side letter; supplemental letter meter rent [electricity] carta complementaria cargo por presentacion de solicitudell supplemental letter; side letter fee for lodging requests [ICSID] carta de aceptacion cargo por reinversion letter of acceptance redeployment cost [IFC] carta de credito cargo por servicioll letter of credit (UC) service and support fee [IFC]; service charge carta de credito acumulativo cargo por subordinacion cumulative letter of credit subordination fee carta de cr~dito confirmada cargo por transmillion confUlned letter of credit wheeling charge carta de credito irrevocable cargo por uso de oficinas irrevocable letter of credit office occupancy fee - OOF carta de declaracion de la deuda externa cargoll debt representation letter charges [utilities] carta de entendimiento cargoll a 1011 usuarios de las carreteras letter of understanding road user charges 272 carta de intenti6n, de intentiones categoria de ingreso(s) letter of intent - LOI income bracket carta de intentiones sobre la politica de categorias de supervisi6n desarrollo supervisory grades letter of development policy - LDP [IBRD] categorias principales del programa de carta de intentiones sobre la politica sectorial operaciones letter of sectoral policy [IBRD] program objective category - POe carta de seguridades cauce de comercializad6n letter of comfort channel [trade] cartel cauce de un rio (explicitly) collusive oligopoly river channel cartera de actiones caudalimetro stock ownership flow meter; flowmeter cartera de activos liquidos cedente liquidity portfolio []FC]; liquid assets portfolio assignor cartera de inveniones (a largo plazo) ceguera de los rios investment portfolio onchocerciasis; river blindness cartera de invenioBes a torto plazo celebrar un convenio, un acuerdo trading portfolio execute an agreement, to cartera de pristamos dlula energetica loan portfolio fuel cell cartera modelo centesimo de punto porcentual (0,01%) benchmark portfolio basis point casa de aceptaciones central (generadora) de energia a partir de acceptance, accepting house [UK] biomasa biomass (power) plant, station caso hipotetico counterfactual central (productora) de biog" biogas plant castigar write down, to; expense, to central de biomass biomass (power) plant, station castigo del valor en libros writing down central de carga de base, fundamental base load station [electricity] catastro land register central de vapor steam plant categoria status 273 central electrica de carbon, que utiliza carbon centro de responsabilidad como combustible responsibility center [accounting1 coal fired power station centro de salud maternoinfantil central electrica de petroleo mother and child health (MCH) center oil fired power station centro de utilidades central electrica dendrotermica profit center [accounting1 dendrothennal power plant centro fuera de ]a sede central electrica diesel outreach post diesel (fired) power plant centro integral de salud central electric a en la zona de una bocamina health maintenance organization - HMO pithead power plant centros internacionales de investigaciones central hidroelectrica de agoa corrlente agricolas run-of-the-river hydroelectric power plant international agricultural research centers - IARC centralizacion cercos vivos pooling live fencing centro de capacitacion especializada cereales alimentarios skill training center food grains centro de comunicacion cereales forrajeros communication hub feed grains centro de cosms cereales panificables cost center bread grains centro de desarrollo de aptitudes cereales secundarios skill training center coarse grain(s) centro de excelencia certificado de deposito excellence center [education] certificate of deposit centro de genetica ganaden certificado de pago de impuestos breeding unit tax clearance centro de intercambio de informacion certificado de participacion clearing house equity security centro de inversion certificado de terminacion investment center [accounting] completion certificate (of a project) centro de perfeccionamiento certificado de transrerencia de prestamos skill training center participation certificate; pass-through certificate centro de reserva certificado internadonal de deposito reserve center global depositary receipt - GDR 274 certificado para Ia compra de aceiones, bonos clasificacion cruzada warrant [finance] cross-classification Celiede funeiones clasificacion del cridito, de creditOR, crediticia tennination credit rating cesion Clasificacion Uniforme para el Comerclo divestiture; divestment Internacional- CUCI Standard International Trade Classification - SITC cesion de activo. (de una 1I0eiedad) a cambio de actiones (de otra sociedad nueva) clausula con fecha de e:spiracion spinoff [financial market] sunset clause ceslonario c1ausula de ajuste de precio. assignee price adjustment clause; price escalation clause; escalation clause chorreo trickle-down effect c1ausula de arbitraje, compromisoria arbitration clause cicio combinado combined cycle [energy] clausula de bonificacion bonus clause cicio del proyecto, de los proyectos project cycle c1ausula de buena voluntad goodwill clause cicio economico business cycle; trade cycle clausula de condidonalidad reciproca cross-conditionality clause cierre de las actividades close of business • c.o.b. c1ausula de escala movil escalator clause [wages]; sliding·scale clause cierre del presupuesto budget closure clliusula de examen (periodico) (periodic) review clause citra apro:Omada ballpark figure c1ausula de exencion por derechos adquiridos grandfather clause cifras efectivas actual figures c1ausula de i1egalidad illegality clause cifras indicativas de planificacion - CIP Indicative Planning Figures - IPF [UNDP] clausula de la nadon mas favorecida most-favored-natlon clause drcuito de informacion feedback loop clausula de modification parcial bisque clause circulos empresariales, comerciales business community clausula de modificadon unilateral changes clause [US] ciudad principal primal city 275 clausala de obJigaci6n neptiv&, de abstenci6n c1aulUlas contractuales que estipulan 80meter negative pledge clause las diferencias aI ClADI ICSID clauses clausala de reajuste (de los preciol) escalation clause {prices) daulUlas del CIADI ICSID clauses clausala de recuperacl6n recapture clause claulUlas penales liquidated damages clausula de recuperaci6n econ6mica value recovery clause clima propicio, favorable enabling environment claulUla de referencia cross-reference clause clinker [fabricaci6n de cemento] clinker claulUla de revisi6n, de activaci6n trigger clause cUnquer clinker claulUla de salvaguardia hedge clause clorofluorocarbono - CFC chlorofluorocarbon - CFC claulUla de salvaguardia, de eluli6n, de escape jeopardy clause; escape clause; break clause coadministraci6n codetermination; comanagement; management claulUla de IUscripci6n preferente participation system clawback provision coueguro cualitativo claulUla de, 80bre multiples monedas qualitative coinsurance multicurrency clause [loan contract] coueguro cuantitativo claulUla en que se estipula que se han de quantitative coinsurance compartir los reembol108 sharing clause coueguro(s) coinsurance claulula pari passu pari passu clause cobertura coverage claulUla penal, punitiva penalty clause cobertura conjunta de rielgos risk pooling [MIGA] claulUla reciproca de entrada en vigor cross-effectiveness clause cobertura contingente standby coverage [MIGA] claulUla reciproca en caso de incumplimiento cross-default clause cobertura contra .,erdida total total loss cover claulUla tipo, modelo, estandar boilerplate cobertura de servicio de la deuda debt service coverage 276 mbertura global ~oeficiente de explotaclon package coverage [MIGA] working ratio mdente de ftaibilidad coeficiente de importaciones flexibility quotient (importacioneslprodu~cion total) import coefficient mdirector lemisioDel de bono8] colead manager c:oeficiente de inestabilidad volatility ratio [stocks] eoefidente alUlDD08-profesor, alumno8 por profesor ooeficiente de insumo-produdo pupil-teacher ratio - PTR; student-teacher ratio - input-output coefficient Sm; teacher-pupil ratio coeficiente de la tierra de cultivo equivalente eoef'lclente ~apital-servicio land equivalent. equivalency ratio - LER capital-service ratio meficiente de liquidez ~oeficiente de ajuste por diferencias del costo de liquidity ratio vida cost-of-living differential factor ~oeficiente de matricula enrollment ratio ~oeficlente de autof"manciamiento self-:financing-ratio - SFR coeficiente de movilizacion mobilization ratio [IFC] meficiente de urp de la red system load factor [electricity] coeficiente de ocupacion de Urg08 ladministracion de personal] ~ciente de mbertura de las importaciones staffing ratio import coverage ratio coeficiente de oeupacion de ~argos, puestos ~oeficiente de mbertura del gasto fmanciero fill ratio [stafi] financial expenses coverage ratio eoeficiente de operaci6n ~clente de mncentracion operating ratio concentration ratio coeficiente de proteccion efectiva ~ciente de mrrelacion por rangos de effective protection coefficient - EPC Spearman Spearman's rank correlation coefficient coeficiente de proteccion nominal nominal protection coefficient - NPC ~ciente de ~ost08 mmbinado8 a largo plazo long-term blended cost rate - LTB [IFC] meficiente de proyect08 en rest"a pipeline ratio, lending meficiente de dependencia de la importacion de alimento8 meficiente de recaudacion de impuesto8 food import dependency ratio tax performance ratio c:oeficiente de endeudamiento meficiente de rest"as, de liquidez debt-equity ratio; debt-to-equity ratio; reserve ratio [banking] debt-to-<:apital ratio 277 coeficlente de 8elDuu-personai basta la cofinueiamiento vertical aprobaclon del pro)'ecto vertical cofinancing completion coefficient cogesti6n coeficlente de IOlvencla [Espafta] comanagement; codetermination; management current ratio; working capital ratio participation system coeficiente de uniformidad colectivo smoothness ratio jitney coeficlente de utilizaclon de tierras colocacion [valores] land use ratio marketing coeficiente del serriclo de la deuda colocaclones cruzadas debt-service ratio cross-placements coeficiente del serviclo de 101 intereses colonizaclon interest service ratio land settlement coeficlente interinstitucional combinaclon de especialidades institutional ratio skills mix coeficlente minimo de encaje combinaclon de flDuclamiento minimum cash ratio blending (of flows) coeficlente modificado de Bmno combinacion de insum08 modified Bruno ratio; internal exchange rate input mix coeficiente neto de explotadon combinadon de monedas operating ratio currency mix coeficlente profesor-alulDD08 combination de produd08 student-teacher ratio - STR.; pupil-teacher ratio - product mix PTR; teacher-pupil ratio combustible de biomasa IdOla coeficiente tributario woodfuel tax ratio combustible derivado del carbOn coeficlentes de caJidad de los activol coal-based fuel asset quality ratios combustible diesel cofinudador diesel fuel; diesel oil cofinanc(i)er combustible no contammute cofinuciamiento clean fuel cofinancing combustible para calderas, barco. cofinuclamiento ex post bunker; bunker oil ex post cofinancing combustible para calelaccion heating oil 278 combustible sintetico comision de participacion en los costos synfuel; synthetic fuel cost-sharing fee [APDF] combustion en lecho fluidizado comision de solicitud fluidized bed combustion application fee [MIGA] comerciabilidad comision del agente pagador marketability paying agency fee comerciable comision inicial tradable [adj.] front-end fee comerciales comision inicial (por evaluacion) bigh-power(ed) money appraisal fee [IFC] comercializable comision ,or administracion de la AIF tradable [adj.] IDA management fee comercializacion comision por captacion de fondos merchandising; marketing success fee comercio compensatorio comision por compromiso, por inmovilizacion countertrade defondos commitment charge. fee comercio de productos basicos, primarios commodity trade comision por servicios service charge comercio de reexportacion entrepot trade comision ,or tramitacion de soHcitud loan origination fee comercio exterior foreign trade comisiones devengadas, acumuladas sobre prestamos comision conjunta accrued loan commissions joint committee Comite Asesor Tecnico - CAT comisi6n de administracion Technical AdvisoI)' Committee - TAC [CGIAR] management fee comite conjunto comisi6n de disponibilidad joint committee availability fee [IFC] comite de adjudicacion comisi6n de garantia awarding committee [contracts] guarantee commission, fee [IBRD] Comite Provisional comision de garantia de compra Interim Committee [IMF] backup (underwriting) facility fee comites conjuntos de fiscalizacion comisi6n de gestion joint monitoring committees management fee 279 eompaftia administradora, de administration, eompeteneia por la obtention de recUI'8OS de gemon competing claims (on resources) management company compilado por eompailia comisionista [emisiones de bonos1 edited by commissioned company eompilador (de una eoleeeion de textos) eompailia de eapital de riesgo editor venture capital company eomplementaeion eompailia de fianzas complementarity bonding company eomplementariedad compailia de inversiones subsidiarity investment company, fund eomplemento eompailia de papel follow-up shell company eompletamente desmontado eomparaeion de preci08 completely knocked down - CKD prudent shopping; shopping [procurement] eomponente eomparation internaeional de precios component (of a project); slice [contracts] international shopping eomponente en divisas eomparaeion national de preci08 foreign exchange component local shopping eomponente fisieo eomparatio (la) hard component [projects} comparatio [staff compensation} eomponente importado, de importaeion eompensadon import component clearance; compensation; consideration [legal, economic] eomponente no fisieo, de serviei08 soft component [projects] eompensaeion (de 'adores, de ventajas y desventajas) componentes fisie08 trade-off hardware eompeteneia eomponentes logie08 skills software eompeteneia basiea componamiento basic skills performance eompeteneia no reladonada con los preci08 eomponamiento de la economia nonprice competition economic performance eompeteneia perfecta eomposieion de la produeeion perfect competition; pure competition product mix 280 composicion del capital social compromisos netos ownership structure (of a company) exposure compra a plazos compromisos por paises hire purchase [UK] country exposure [ffiRD] compra de bienes en existencia en el mercado compuestos organicos volatiles off-the-shelf purchases volatile organic compounds - VOC compra de una empresa con rondos tomados en computadora portitiI prestamo notebook computer leveraged buyout - LBO computerizado compra directa computerized direct shopping [procurement] computo sobre una base anual compra en gran des cantidades, en grueso annualization bulk procurement con alto coeficiente de capital comprobacion de cuentas capital-intensive audit [finance] con alto coeficiente de endeudamiento comprobante de pago highly leveraged certificate of payment con alto contenido de importaciones comprobar cuentas import-intensive audit, to con bajo coeficiente de endeudamiento compromiso contingente [CFI] underleveraged contingent commitment [IFC] con exceso de personal compromiso contingente de garantia de overstaffed suscripcion standby underwriting commitment [IFC] con fines de lucro profit making compromiso contingente de participacion en el capital social con gran endeudamiento standby equity [investment] highly leveraged compromiso de inversion [CFI] con gran intensidad de capital investment commitment [IFC] capital-intensive compromiso de prestamo con gran intensidad de importaciones lending commitment; loan commitment import-intensive compromiso de suscripcion de acciones con gran intensidad de mano de obra equity underwriting labor-intensive compromiso sin plazo 0 volumen definidos con recargo open-ended commitment premium. at a 281 con uso intensivo de capital condiciones capital-intensive socioeconomic status - SES; terms and conditions (of a contract) con vision bacia eI futuro forward-looking condiciones concesionarias, muy favorables concessional terms concentracion excesiva de riesgos de financiamiento condiciones concesionarias, muy favorables, en overexposure concessional; concessionary concentracion mmma admisible condiciones corrientes, comereiales, de mercado threshold limit value - TLV conventionaltenms concentracion pareelaria condiciones de entrada en vigor land consolidation conditions of effectiveness concepto condiciones de mereado design commercial conditions conceliar un prestamo a travis de un consorcio condiciones de reembolso con pagos iguales de (bancario, de financiamiento) principal e intereses syndicate a loan, to annuity-type repayment tenms concesion condiciones de Toronto claim [mining]; franchise Toronto tenms concesion reciproca condiciones de Trinidad trade-off Trinidad tenms concesionario condiciones previas concessional~ concessionary precedent conditions [legal] conciliar condiciones propicias, favorables reconcile enabling environment conclusion condiciones que deben cumplirse bottom line eligibility; eligibility conditions conclusion de los procedimientos condonacion closure of the proceeding [ICSID] forgiveness (of a debt) condicion juridica condonacion (de una deuda) legal status cancellation condicion social condonacion de deudas, de Ja deuda status debt forgiveness condicionalidad condonacion de una deuda conditionality debt cancellation 282 cooduccioo coojuoto de medidas de rescate, de salvameoto governance rescue package cooducto de comercializacioo conjunto de medidas financieras cbaooel [trade] financial package cooe:.doo de servicio conjuoto de medidas practicas service lioe; service; supply lioe; connectioo technical package [electricity] coomocioo civil cooe:.doo domiciliaria civil commotioo house coonectioo coomocion petrolera, producida por los precios coofereocia maritima del petroleo lioer (shipping) conference oil shock coofiaoza de la colectividad eo si misma ConoSur collective self·reliance Southern CoDe coofianza en si mismo cooocimiento de embarque self·reliance bill of ladiog configuracion de las cueotas corrientes cooocimiento de embarque coo raenras, curreot accouot pattern objeclooes claused bill of lading; dirty bill of ladiog congelacion freeze (of salaries, prices, etc.) cooocimieoto de embarque directo through bill oflading congelacion de precios price freeze cooocimieoto de embarque siD resenras, objeciones congestion clean bill of lading bottleneck cooocimieotos congestion skills buoching conocimieotos basicos conjuoto de bienes (obras, servicios, elemeotos) basic skills a Iicitar bid package cooocimieotos basicos de aritmetica oumeracy conjuoto de disposiciones, equipos, proyectos, actividades, financiamiento cooocimientos especializados package expertise conjunto de empristitos cooocimieotos tecoicos, tecnologicos borrowing pool [ffiRD] koow·how conjunto de medidas de poUtica consejero policy package counsel [ICSID] 283 Consejo de Gobernadores construccion-operacion-transferencia - COT Council of Governors [MIGA] build~perate-transfer; build~perate-turnover - BOT consentimiento (a la jurisdiccion) consent (to jurisdiction) [ICSID] construccion-propiedad-operacion build~wn operate - BOO conservacion de energia energy conservation construccion-propiedad-operacion- transferencia - CPOT conservation del suelo build~wn~perate-transfer - BOOT soil conservation consulta sobre posibles objeciones considerar (una cuestion) desde el punto de letter of no objection - LNO [imports] vista de los roles del homhre y la mujer engender consultor en direccion de empresas, en administration de empresas consignar (fondos) para un rm detenninado management consultant earmark. to (funds) consumidor de bajo factor de carga consolidaciones arancelarias low load factor consumer [electricity] binding; bindings consumidor de bajo voltaje consolidar los vencimientos low voltage consumer [electricity] consolidate maturities, to consumo consorcio (bancario) consumption bundle selling consortium, group, syndicate consumo calorifico c()nsorcio (bancario, de financiamiento) heat rate syndicate [banking] consumo en la explotacion agricola consorcio (de coordinacion de la ayuda a un on-farm consumption pais) consortium (for a country) consumo suntuario, de ostentation conspicuous consumption consorcio de direccion, directivo management group; managing group contabilidad de costo total full cost accounting consorcio garante underwriting syndicate contabilidad de costos cost accounting constriction monetaria monetary stringency contabilidad de costos estindar standard cost accounting construccion de viviendas no sujeta(s) a reglamentaciones contabilidad de empresa, comercial unregulated housing business accounting construccion progresiva de viviendas contabilidad de existentias incremental building. housing stock accounting; stores accounting 284 cootabilidad de gestioo cooteoido de oro management accounting gold content (e.g. of US dollar) cootabilidad eo perlodos de ioflacioo cootemdo teemco inflation accounting messages [agricultural extension] cootabilidad eo valores de caja cooteo de trMico cash (basis) accounting traffic count cootabilidad eo valores deveogados cootiogeote accrual (basis) accounting intake cootabilidad gereoclal cootingeote arancelario managerial accounting tariff quota cootabilidad por ordeoes de trabajo, ,or cootinuidad pedidos sustainability job order accounting cootraccloo cootabilidad por partida doble slump double entry accounting cootracdoo del credito cootabilidad por partida simple tightening of credit single~ntry accounting cootralor cootabilidad 8egUo el cOsto (valor) de reposidoo comptroler current cost (value) accounting; current value accounting; value based accounting cootramemorial countermemorial [lCSID] cootabilidad 8egUo el oivel geoeral de predos general price level accounting; price level cootrapartida accounting balancing item. entry contabilidad 8egUo registro de caja cootraprestadoo cash (basis) accounting consideration [legal, economic] cootabilidad 8egUo registro de derechos cootratadoo aotidpada adquiridos u obligadooes cootraidas advance contracting accrual (basis) accounting cootratadoo de uoo 0 varios 8ervicios, cootabilidad sodal adquisidoo de bieoes, etc., fuera de la empresa, social accounts etc. outsourcing; sourcing contamioadores (persooas, industrias) polluter cootratadoo de uno 0 varios servicios, adquisidoo de bienes, etc., fuera de la empresa, cooteoedorizacioo etc. containerization sourcing; outsourcing cooteoido de origeo oadooal cootratacioo directa domestic content direct contracting [procurement] 285 contratar contrato con interes tope contract out. to cap contratista con rumza, afianzado contrato con reembolso de costos bonded contractor cost reimbursable contract contratista principal, primario contrato de administracion, gestion main contractor; prime. principal contractor management contract contrato a porcentaje, de honorario porcentual contrato de arrendamiento con opeion de percentage (fee) contract [consultants] compra finance lease; financial. full pay out lease contrato a predo fijo fixed cost contract; fixed price contract contrato de arrendamiento operativo operating lease contrato a precios unitarios rate contract contrato de arrendamiento verdadero true lease contrato a suma alzada lump sum contract [consultants] contrato de compra contra entrega take-and-pay contract contrato a, de precio(s) unitario(s) unit price contract; admeasurement contract; contrato de duracion indefinida remeasurement contract open-ended contract; open-end contract contrato aI costo mas honorarios (fijos) contrato de fietamento cost-plus (fixed fee) contract - CPFF; cost and fee charter party - c/p contract contrato de participacion en la produccion contrato aI costo mas honorarios, mas production-sharing contract porcentaje cost-plus contract contrato de participacion en las utilidades profit-sharing contract [MIGA] contrato aI costo mas un porcentaje (honorarios) contrato de plazo fijo cost-plus percentage (fee) contract; cost-plus fixed term contract percentage of cost contract - CPPC contrato de riesgo contrato basado en una estimacion cuantitativa risk contract [oil] bill of quantities contract contrato de servicios ocasionales contrato basado en una lista de tamas call order contract schedule of rates contract contrato entre iguales, entre compai1ias contrato con base en una lista oficial de precios independientes schedule contract arm's length contract contrato con rmes especlficos celebrado entre el contrato firme de compra (sin derecho de gobierno y el sector privado rescision) perfonnance contract take-or-pay agreement. contract 286 contrato fraccionado control de la natalidad "slice and package" contract birth control contrato global control de procesos industriales package deal contract process control contrato Have en mano control empresarial del araneel turnkey contract, project tariff privatization contrato "mertado en mano" control interno "market-in-band" agreement internal audit contrato--plan control mayoritario performance contract ownership (of a corporation) contrato por cantidades aproximadas controlable running contract manageable contrato por cantidades indeterminadas conurbacion indefInite quantity contract conurbation contrato por meses-hombre convenio basico man-month contract establishment convention; base convention contrato por tiempo convenio condicional de reembolso time-based contract [consultants] qualifIed agreement to reimburse [See also irrevocable agreement to reimburse.] contrato "producto en mano" product in band contract convenio de asuncion de pristamo loan assumption agreement contrato sobre la base de un presupuesto meta target contract convenio de credito de fomento development credit agreement [IDA] contribution de contrapartida matching contribution convenio de destinacion especial set aside agreement contribucion territorial land tax convenio de inversion [CFl] investment agreement [lFC] control control convenio de Iieencia, de concesion de Iicencia licensing agreement control de existencias, inventario(s) inventoty control convenio de pristamo loan agreement control de la contaminacion en la descarga end of pipe pollution control convenio de pristamo entre d Banco y la eFI Master Loan Agreement control de la dotacion de personal complement control convenio de pristamo subsidiario Subsidiaty Agreement [IBRDJ 287 convenio modificatorio conversion de la deuda en capital amendment, amending agreement debt-equity swap; debt equity conversion convenio Ialarial conversion en arancel wage agreement tariffication Convenio sobre Arreglo de Difereneias conversion en efectivo Relativas a Inversiones entre Estadol y encashment [IDA] Nacionalel de Otros Estadol Convention on the Settlement of Investment conversion inmediata Disputes between States and Nationals of other reconstitution States [ICSID] convertidor catalitico convenio sobre el proyecto catalytic converter project agreement cooperacion teenica entre paises en desarrollo - convenio sobre imanciamiento para el proyecto CTPD project fund agreement technical cooperation among developing countries -TCDC convenio sobre un producto bbko, primario commodity agreement cooperativa de produceion y exportaeionel agropecuarias convenios intemaeionales sobre product08 pcultural nroduction and gport (apex) bbicos cooperative international commodity agreements, arrangements coordinador de una edieion editor conversion a la par conversion at par copia autenticada conformed copy conversion contable de monedas translation (of currency) copia impresa hardcopy conversion de activos finaneieros en valorel securitization coqueria coke oven plant conversion de deuda en program as de salud debt-for-health swaps corral de engorde feedlot conversion de empresas (publicas) en sociedades comerciales, entidades previstas en la ley de corral de vacunacion sociedadel vaccination yard corporatization correccion monetaria conversion de la c1ase de inteRS monetary correction rate basis conversion corredor (de cambio, de bolsa) conversion de la deuda broker debt conversion corredor de valores securities dealer; securities firm 288 corretaje costo de los empristitos brokerage borrowing cost corriente (de fondos) en condiciones costo de los empristitos con doble ponderacion concesionarias double·weighted borrowing cost [IBRO] concessional flow costo de los factores, al corriente de capital equilibradora factor cost. at • f.e. equilibrating capital flow costo de mantenimiento en existenda corriente de fondos carrying costs, charges [goods] cash flow; funds flow; flow of funds costo de oportunidad, de sustitucion corrientes de costos y benefidos opportunity cost streams of costs and benefits costo de oportunidad social corrientes financieras social opportunity cost financial flows costo de pueata en marcha corrientes oficiales start·up cost official flows [development] costo de reposidon, de sustitudon cortavientos replacement cost windbreak costo del petriileo corte y extracdon de madera en trozas oil bill [national] logging [foresUy] costo en divisas cortedad de talla exchange cost stunting; nutritional dwarfing costo en divisas cosechas foreign exchange cost crops costo en moneda nacional costo asociado local cost; onshore cost associated cost costo en recursos intemos costo de conversion, de modification domestic resource cost - DRC redeployment cost costo evitable costo de eficiencia de (los impuestos) la avoidable cost tributacion efficiency cost of taxation; excess burden of costo extranacional taxation offshore cost costo de inactividad del capital costo incluidos los impuestos canying cost (of capital); charge of capital tax-paid cost - TPC costo de inversion costo incremental capital cost incremental cost 289 costo incremental medio costos de mano de obra average incremental cost - AlC labor costs costo incremental medio a largo plaze costos de movilizacion long-run average incremental cost - LRAIC mobilization costs costo inidal costos de, en serviclos front-end cost in-kind costs costo marginal oostos del factor trabajo marginal cost labor costs costo marginal a largo plaze cosios descentralizados long-run marginal cost - LRMC; efficiency price; unit -managed costs efficient price [electricity tariffs] costos economicos del proteccionismo costo marginal de mantenimiento de la welfare costs of protectionism capaddad marginal capacity cost - MCC costos efectivos, reales actual costs costo no recurrente de capital, no recuperable sunk cost costos fijos fixed costs costo, seguro y fiete - c.i.f. cost, insurance and freight - CIF costos implicitos underlying costs oosto totalmente imputado fully allocated cost oostos imputados allocated costs costo unitario unit cost costos imputados imputed costs costos blisicos baseline costs; base costs costos indirectos indirect costs; on-costs [UK] oostos capitalizados capitalized expenses costos inferiores a los previstos cost underrun; underrun cost costos centralizados centrally-managed costs costos iniclales [proyectos] baseline costs; base costs costos de explotacion, operacion, funcionamiento costos internos de importacion operating expenses, costs internal importing costs costos de garantia de emision oostos laborales undeIWriting costs labor costs oostos de instalacl6n y suministros costos no monetarios balance-of-system costs noncash expenses 290 oostos ordinarios (en praupuestos) crec:imiento lento recurrent costs, expenditures sluggish growth costos promediados crec:imiento urbano (no planificado) rolled (costs) urban sprawl costos relativ08 a monedas especi'ficas credito currency-specific costs credit standing costos salariales credito [finanzas] wage bill; wage costs claim costos sociales, COlectiV08 credito a los consumidores social costs consumer credit costos IUperiores a los previst08 credito acumulativo cost overrun cumulative letter of credit cotizaeion (de valores en la bolo) credito colectivo listing (of securities) group credit cotizacion al contado credito oon garantia de otro credito spot quotation back-to-back credit comaeiones credito de aceionistas, de participaeion price quotations [contracts] equity-type loan; sponsored loan cotizaeiones de prec:ios de equilibrio del credito de am mereado working capita1loan market-clearing quotations credito de compradores coyuntura buyer credit; buyers' credit business cycle; trade cycle credito de contrapal1ida creacion matching credit design; development credito de emergencia crec:imiento (eoonomioo) sostenido bailout loan sustained growth credito de exportacion, a la exportacion crecimiento autosostenido export credit self-sustaining growth credito de proveedores crec:imiento cero de la ,oblacion supplier credit; supplier's credit zero population growth· ZPG credito dirigido crecimiento inlUficiente directed credit stunting; nutritional dwarfing credito documental crecimiento intermitente documentary credit stop and go growth 291 cridito eo. esp~ie creditos bip~arios credit-in-kind mortgage financing credito eo. tr&mitaclon creditos que se traspasan pipeline credit carryovers cridito estational creditus traspasados seasonal credit canyovers credito finaoclero cresta araneelaria financial credit tariff peak credito garantizado pOl' el Estado cria de gaoado, de aoimales sovereign credit, loan animal husbandty credito impositivo, tributario criador tax credit breeder [agriculture] credito impositivo POI' inversioues crisis de liquidez investment tax credit liquidity squeeze credito instituclonal crisis petrolera, produtida pOI' los p~ios del formal credit petroleo oil shock credito no institucional informal credit criterio de contamination total permisible bubble concept credito oficial a la exportacion official export credit cronologia timepattem credito para importationes con fines de ~ODstl1lction croquis reconstruction import credit - RIC sketch plan [architecture] credito para importaciones con "mes de cl1ldo de referenda rehabilitation benchmark crude; marker crude [oil] rehabilitation import credit cl1ldo liviaoo, ligero de Arabia Saudita credito pOI' pago de impuestos en eI extranjero light Arabian crude; Saudi Arabian light crude foreign tax credit cl1lZamiento absorbente credito presupuestario line breeding allotment; appropriation [budget] cl1lZamiento continuo credito ~iproeo [FMI] line breeding swap cuadraI' (una cuenta) credito renovable, rotatorio, ref"mantiable balance, to (an account) revolving credit cuadro schedule 292 cuasicapital cuenta de ingresos y gastos, de perdidas y quasi-equity ganancias income (and expenditure) account cuasidinero near money; quasi-money cuenta de orden memorandum account cubierta forestal forest canopy cuenta de primas de emisi6n share premium account [lFC] cubierta vegetal plant cover cuenta de reconciliaci6n reconciliation account cuenca de captaci6n catch basin; catchment area cuenta de resumen summary account cuenca de captaci6n catchment area; catch basin cuenta de trMico traffic count cuenca de rebalse overflow basin cuenta de valores (en custodia) securities (custody) account cuenta basica basic account [balance of payments] cuenta del crMito credit account [IDA1 cuenta de anticipos advance account; imprest account, fund cuenta del prestamo loan account cuenta de anticipos para la preparacl6n de un proyedo cuenta especial secundaria project advance account second generation special account - SGSA cuenta de capital cuenta reservada, especial capital account eannarked account cuenta de cierre cuenta subsidiaria, aunliar summary account subsidiary account cuenta de explotaci6n cuenta transitoria working account suspense account cuenta de explotaci6n, operaci6n cuentas de ingresos y gastos operating account income and outlay accounts [national accounts] cuenta de igualaci6n de tipOi de cambio cuentas diversas de caja exchange equalization account sundry cash accounts cuenta de ingresos cuentas econ6micas ajustadas conforme a revenue account [national accounts] consideraclones ambientales environmentally adjusted economic accounts - EEA 293 cueatu ,or eobrar eultivo de decreclda accounts receivable; receivables recession crop cuentas ,or pagar eultlvo de secano accounts payable dIy farming; dIyland farming cuentas lOclala cultivo de tejidos social accounts tissue culture cuenta subsidiarias del medio ambiente cultivo de temporada eona environment satellite accounts short season (crop) cuerpo de fundonarios publicos eultlvo en curvas de nivel civil service contour fanning euesti6n previa cultivo en franjas preliminaly question [ICSID] alley cropping; strip cropping cuestiones a las diferencias de roles del hombre cultivo en pendiente ylamujer hillside farming gender issues eultivo en recesi6n cuestiones que afectan a la mujer recession. recessive cultivation gender issues cultivo en tierras de aluvi6n cuestiones relativas a las desigualdades entre los floodplain agriculture, cultivation sexos gender issues eultivo extensivo field crop cultivo field crop eultivo intercalado intercropping eultivo alimentario food crop eultivo interealado, intermedio catch crop cultivo alimentario basieo staple (food crop) cultlvo migratorio shifting cultivation eultivo arb6reo tree crop eultivo protector, de cobertura cover crop; nurse crop cultivo comerclal cash crop eultivo Unico, de un solo tipo 0 apede pure stand eultivo constante, continuo continuous cropping cultivo(s) asoclado(s) associated crops, cropping eultivo de decreclda flood recession crop cultivos crops 294 cultivos de luera de estacion, de temporada cupones para la privatization out-of-season crop; off-season crop privatmWon vouchers cultivos de montaila, de tierru alto curriculo upland crops curriculum cultivos de rakes a1imentariu curriculo de estudios comun root crops core curriculum cultivos de rizomu cursillo rhizomes; rootstock crops workshop [training] cultivos dobles curso de actualization (para refrescar los double cropping; sequential cropping conocimientos) refresher course cultivos en hileru row crops curso de elementos intercambiables course interchange [education] cultivos minos silvoagropeeuarios multistory farming; multilevel farming curso de repaso refresher course cultivos multiples multicropping; multiple cropping curva de aprendizaje learning curve cultivos multiples multiple cropping; multicropping corva de indiferentia indifference curve cultivos para fines energeticos energy cropping curva de la ofena supply curve cultivos simbioticos companion crops curva de posibilidades de production production possibility curve; transformation curve cultivos sucesivos double cropping; sequential cropping curva de rendimiento yield curve cumplimiento de contrato contract performance curva de transformacion transformation curve; production possibility curve cuota arancelaria tariff quota curva salarial payline cuota de importation import quota daios indirectos consequential damages cupo arancelario tariff quota daios y perjuitios previstos en un contrato liquidated damages cupo de importacion import quota dar de baja scrap. to 295 dar en contrato de maduracion temprana, precoz contract out, to early (maturing) [crops} dar particlpadon de propiedad mranjera empower foreign-owned dar poder de decision de rulo [Chile} empower rainfed dar por tenninado de IleCaDO terminate rainfed dato aproximado de temporal [MUlco] ballpark figure rainfed datos antes del anilisis de regresion deusof4eil unsmoothed data user friendly datos buicos de uso intensivo de energfa baseline data; fact sheet energy-intensive datos buicos de un proyecto de uso intensivo de mano de obra project brief labor-intensive datos brutos, sin elaborar de vision hacia eI futuro raw data forward-looking datos clave, buicos debenture [IE.UU] key data debenture (bond) datos detallados decano microdata dean (of the Board of Directors) datos transversala decision t4eita por vencimiento de un plazo cross-sectional data [econometty] lapse-of-time decision de abajo arriba decJaraclon bottom up (approach) [projects} statement de alto coeficiente de mano de obra declaraclon de gmos labor-intensive statement of expenditure - SOE debase declaradon de impuatos grass root(s) level, at the taxretum de conformidad con las leya del mereado declaraclon de ingresos market-friendly taxretum de maduraclon tardia declaracion de intendon, de intenclones late maturing [crop] letter of intent - LOI 296 declaracion de objetivos deficit de la balnza en cuenta corriente mission statement [EDIJ external current account deficit declaracion del impuesto sobre la renta deficit de recursos income tax return resource(s) gap declaraciones deficit en cuenta corriente representations current account deficit declinacion de responsabilidad deficit en cuenta corriente (excluidoslos disclaimer ingresos por concepto de intereses) noninterest current account deficit deduccion tax allowance deficit euluido eI pago de intereses primary deficit; noninterest deficit deduccion estandar standard deduction [taxation] deficit fiscal fiscal gap deduccion tributaria (por perdida, etc.) tax write off deficit presupuestario budget deficit; budgetary gap deduccion tributaria, de impuestos tax deduction deficit primario primary deficit; noninterest deficit deducidos los impuestos net of taxes deflacion deflation deficiencia shortfall deflactar deflate, to deficiencia de recaudacion undercollection [taxation] deflactor deflator deficit gap; shortfall deflactor de los compromisos commitment deflator deficit comercial trade deficit deflactor de los desembolsos disbursement deflator deficit de caja cash deficit deflactor de precios del PNB GNP price deflator deficit de explotacion, operacion operating deficit deflactor implicito implicit deflator deficit de rmanciamento financing gap; funding gap deflactor implicito del producto intemo bruto implicit gross domestic product deflator deficit de inversiones investment gap deforestacion deforestation 297 degradacion ambiental densidad de siembra environmental degradation plant population dejar de reunir las condiciones para recibir denuncio financiamiento del Banco claim [mining] graduate, to [Bank, IDA] departamentalizacion de la enseianza delegacion de atribuciones, facultades departmentalization [education] delegation of authority departamento de (servicios de) apoyo deliberaciones de sesion(es) support department [IBRD] proceedings departamento de operaclones demanda operating department; operational department claim [IBRD] demanda agregacla, global departamento de operaclones, sectorial, de aggregate demand ejecucion line ministry, department demanda bioquimica de o:dgeno • DBO biochemical oxygen demand - BOD departamento de servicio, de asesoramiento staff department demanda bioquimica de o:dgeno en cinco dias - DBOS departamento ejecutivo, de ejecucion, de biochemical oxygen demand over five days - operaclones BOD5~ five day biochemical oxygen demand line department demanda de los consumidores dependencia de la ayuda exterior consurnerdemand aid dependency demanda intensa Depositario buoyant demand Trustee [GEF} demanda reprimida deposito a la vista pent-up demand demand deposit; sight deposit demora deposito a plazo lag~ slippage term deposit demora respecto del plazo previsto deposito a plazo, a termino time overrun time deposit denominacion comiin depOsito de aduanas nonproprietary name bonded warehouse denominado deposito de decantacion de residuos denominated in (dollars, etc.) tailing pond densidad de carga deposito de pagares stocking rate [livestock] note deposit [IDA] 298 depOsito en almacin de aduanas derecho de expropiacion bonding [customs] eminent domain depOsito en custodia derecho de tenencia de la tierra escrow account land tenure rights depOsito en garantfa, en custodia derecho de usufructo escrow beneficial interest deposito previo, anticipado derecho de via advance deposit right of way depOsitos icid08 derecho de voto acid deposition voting right depreciacion acelerada, decreciente derecho por pie accelerated depreciation stumpage fee depreciation acumulada derecho prioritario, preferential, de accrued depreciation; accumulated depreciation preferencia, de prelacion first refusal right; preemptive right depreciacion de equUibrio breakeven (dollar) depreciation derecho procesal, adjetivo, de forma adjective law; procedural law depreciacion diferida deferred depreciation derecho procesal, adjetivo, de forma procedural law; adjective law derecho claim derecho sustantivo, de fondo substantive law derecbo (aduanero) ad valorem ad valorem (customs) duty derechos arancelarios tariff rates derecho(aduanero)especifico specific (customs) duty derechos de matricula tuition fees derecho antidumping antidumping duty derechos de propiedad proprietaIy rights derecho aplicable governing law derechos de suscripcion stock rights [IFC] derecho arancelario tariff derechos de voto voting power derecho compensatorio countervailing duty derechos poJ1uarios haIbor dues, fees; port dues derecho de aduana, de importacion tariff desagregaciOn unbundling 299 desagregaclon de riesgo8 rmanciel'08 descascarar unbundling of financial risks husk, to; dehusk, to desahorro descompoticiOn dissaving unbundling desajuRe entre tipos de cambio descontar misalignment (ofrates of exchange) discount, to [finance} desarrollo descripcion de cargo, puesto development job description desarrollo institucional descuento institution building discount desarroUo integral de la explotaciOn agricola descuento cambiario whole:farm development exchange discount desarrollo participatorio, con participacion descuento de instrumento8 de deuda participatory development debt sales desarrollo sostenible descuento del impuesto potencial sustainable development tax sparing desarrollo subregional descuento impositivo, tributario area development tax credit desarrollo t6cnico desechar engineering development scrap, to desastre provocado por el hombre deseconomias man-made disaster diseconomies desatesoramiento desembolsos concentrados aI comienzo de un dishoarding periodo front loading desbroce clearing desempefto performance descapitalizar decapitalize desempefto de la eeonomia economic performance descargade efluentes eftluent charges desempefto de las instituciones institutional perfonnance descarga de gases acidos, ricos en productos azufrados desempleo encubierto, oculto, disfrazado sour gas discharge concealed unemployment; covert, disguised, hidden unemployment descascarar dehusking; husking 300 desempleo estructurai desbidratacion por conaelacion structural unemployment freeze dIying desempleo evidente, manifiesto deshojar open unemployment husk. to; dehusk, to desempleo friccional desincentivo frictional unemployment disincentive desempleo oculto, encubierto, disfrazado desiDflacion disguised unemployment; concealed, covert, disinflation hidden unemployment desinflacionario desertion disinfiationary drop out [education] desintermediacion desertar disintermediation drop out [education] desinversi6n desertor esco)ar disinvestment drop out [education] desistiDliento (w.icamente en elsentido del Art. desestacionalizado 45 del Convenio) seasonally adjusted discontinuance [ICSID] desf'ase deslizamiento (de un tipo de cambio dentro de lag; slippage una banda) crawl [noun] desfase (cronologico) time lag deslizamiento de troncos skidding desf'avoreddo underprivileged desmantelamiento rollback desaaste (normal 0 natural) wear and tear (fair) desmonetizacion calling in of a currency desaIose breakdown; unbundling desmonte clearing desgravacion tax allowance desmotado ginning [cotton] desgravacion fiscal tax relief desnutricion undernutrition desgravacion tributsria tax rebate desDutrido undernourished desguazar scrap. to 301 despadlo aduanero desvinc::ulacion de la ayuda clearance untying of aid desparasitar desvincular deworm delink, to [foreign exchange] despegue desvincular (el tipo) take-off unpeg (a rate), to despeje deterioro ambiental clearance environmental degradation desperdicio determinacion de costos waste; loss in weight [commerce] costing despido determinacion de costos directos termination direct costing desplazamiento determinacion de precios sociales crowding out social pricing desplazamiento de la demanda determinacion de un proyecto, de proyectos demand shift project identification desreglamentar determinacion del costo de un preuamo deregulate loan pricing, costing desregular determinacion del precio de costo deregulate cost pricing destinado por so propia indole a determinados deuda amortizada grupos de la poblacion retired debt self-targeting (commodity) deuda anulada destinar (fondos) para un fm determinado cancelled debt earmark, to (funds) deuda con garantia publica desutilidad publicly gua:ranteed debt disutility deuda con los bancos comerciales, privados desutilidad marginal commercial debt marginal disutility deuda consolidada desviacion de los salarios funded debt wage drift deuda de pago dudoso desviacion estandar bad debt standard deviation deuda desembolsada y pendiente desvinculacion (de divisas) debt outstanding and disbursed - DOD delinking [foreign exchange] 302 deuda dudosa, de cobl'O dudoso devolucion de impuestos doubtful debt tax refund deuda externa pendiente dia-hombre external debt outstanding man-day deuda externa pendiente dialanidad outstanding external debt transparency deuda externa total diagrama de banas total external debt - EDT barchart deuda incobrable diagrama de dispersion bad debt scatter chart, diagram; scattergram deuda notificada diagrama de movimiento, de flujo, de reported debt produccioo, de secuencia, de procedimiento flow chart; process chart deuda pendiente debt overhang diagrama de red(es) network diagram deuda prioritaria senior debt, loan diagrama de situacion working table; performance chart; management deuda publica chart official debt diu de atraso en el pago de las cuentas por deuda publica cobrar public debt days receivable deuda publica del Estado, en poder de dictamen con reservas particulares qualified opinion [auditing] publicly held government debt dictamen juridico deuda reciproca legal opinion reciprocal debt dictamen legal deuda subordinada memorandum of law junior debt; subordinated debt diesel deuda vencida diesel fuel; diesel oil debt due dieta deuda(s) reciproca(s) subsistence allowance interlocking debt diferencia deudu anteriores con condiciones menos gap favorables lower quality old debt diferencia entre los margenes spread of spreads 303 diferencia entre 101 preciOl dinero de alta potencia [teoria monetarista] price differential, spread high-power(ed) money diferenda entre tipos, tasas de interis dinero de la R.esen'a Federal de 101 EE.UU. interest-rate differential para UIO de 101 banco. high-power(ed) money diferenda negativa carrying loss dinero e1astico elastic money diferencia por la cuallas cantidades devengadas son inferiores a las previstas dinero en eI sentido estrido underaccruals narrow money difereneia positiva dinero en sentido amplio carrying gain broad money difereneia(s) de tipos de cambio dinero eseuo, caro exchange rate differential tight money difereneias aranedarias dinero exigible tariff wedges call money; day to day money; demand money; money at call diferimiento impositivo tax deferral dinero inactivo idle cash dificultades eeonomicas economic hardship dinero negro black money dificultades finaneieras graves :financial distress dinero primario reserve money; base money; high-power(ed) dilema del prisionero money prisoner's dilemma dique dilueion del capital (accionario) bund stock dilution, watering; dilution dique en CUn'a de nivel dinamismo contour bund buoyancy [economics] direction dinero a la vista front office; governance; line management call money; day to day money; demand money; money at call direction de impuestOl tax office dinero bancario bank money direction de la institution, empresa corporate management dinero barato, abundante easy money direccion portoaria port authority 304 directivoprincipal disefto de un proyecto, de proyectos senior manager project design directiV08 disefto demasiado ambicio80 managers overdesign director dd proyedo disefto detallado project manager detailed design, engineering Director Ejecutivo disefto excesivo para las necesidades Executive Director overdesign director ejecutivo con doble funci6n (en el BIRF disefto tecnico yelFMI) engineering design dual executive director disefto tecnico preliminar Directorio Ejecutivo engineering, preliminary Board of (Executive) Directors; Executive Board [IBRD, IDA] disminuci6n drawdown; shortfall Directori08 del Banco y del Fondo Boards of the Bank and the Fund dispensa (de una obligaci6n) waiver directrices guidelines dispensar (de una obligaci6n) waive, to discordancia entre los vencimient08 maturity mismatch dispensario health post discrepancia impositiva tax wedge disponibilidades liquid assets; quick assets discriminacl6n sexual gender issues disponibilidades (de equipo) availability [transportation] discurso principal keynote address, speech disponibilidades de viviendas housing stock diseftador designer disposici6n para pagar willingness to pay - WTP disefto design; layout disp08iciones de comercializaci6n ordenada orderly marketing arrangements - OMA disefto con ayoda de computadoras computer aided design - CAD disposiciones de control de cambios exchange control regulations disefto conceptual conceptual design disposiciones pracesales procedural orders [ICSID] 305 disposiciones transitorias dividendo enraordinario bridging arrangement, credit surplus dividend distribucion divisa de reserva breakdo~; layout reserve currency distribucion de aguas divisa(s) de libre convertibilidad waterspreading free (foreign) exchange distribucion de la carga [donantes] divisas burden sharing foreign currency, exchange distribucion de las utilidades division de la enseilanza allocation of profits; appropriation of profits departmentalization [education] distribucion de los costos divulgacion cost sharing extension [agriculture] distribucion de los recursos doble clasificacion allocation of resources cross-classification distribucion del financiamiento (entre los doble tributacion, imposicion paises) double taxation direction of lending documentacion de apoyo distribucion del importe, de los fondos del justification prestamo allocation of loan proceeds documento de antecedentes, de informacion blisica distribucion optima de los vencimientos background paper market timing documento de especificacion de servicios distribucion reservada laborales restricted distribution performance work statement - PWS disyuntiva documento de exposicion de problemas trade-off issues paper divergencia entre tipos de cambio documento de informacion sobre el proyecto misalignment (of rates of exchange) Project Information Brief - PIB diversidad biologica documento de politica (sectorial, financiera, biodiversity etc.) policy paper diversificacion de los riesgos exposure diversification documento de referencia cruzada, comparacion crosswalk document dividendo en acciones bonus issue; stock dividend documento de trabajo discussion paper 306 documento del Manual de Adquisiclones donante principal Procurement Manual Statement - PMS lead donor documento del Manual de Operaeiones dOl ritmos, trayeetori.. de desarrollo Operational Manual Statement - OMS two-tmck development documento del Manual del Personal dosel forestal Personnel Manual Statement forest canopy documento expositivo 5Obre.•• dotaclon de capital approach paper capital endowment documento para un seminario dotaclon de personal seminar paper staffing documentos contraetuales dotacion minima de personal contract documents core staffing documentOl de licitacion dotar de los medios bidding documents; tender documents empower documentOl de precalificacion dotar de personal prequalification documents staff, to documentos justificativos drenaje de ago.. Duvi.., pluviales justification storm water drainage system dolarizacion dumping dollarization dumping dominio eminente duraeion eminent domain life (of a project) donacion duraeion de un proyecto grant-in-aid project life donacion de contrapartida duration util matching grant economic life donacion en capital ecolog{a, si en mi barrio, no equity grant NIMBY (not-in-my-backyard) donacion en efectivo ecologistu cash grant environmentalist donacion en, para equipos economia abierta equipment grant open economy donacion para imes especfficos, para un im economia de consumo especffico consumption economy categorical grant; targeted grant 307 economia de la oferta, basada en la oferta economfas de diversificaci6n supply side economics economies of scope economia de Iibre empresa economias de escala free market economy; free-enterprise economy economies of scale economfa de monocultivo economfas de ubicaci6n single-crop economy localization economies economfa de planificaci6n centralizada economias de urbanizaci6n centrally planned economy (country) wbanization economies economfa de subsistencia economista principal subsistence economy principal economist economia del bienestar economista principal (de un departamento welfare economy geogrMico) lead economist economia del retroceso economics of regress economista principal (Oficina Regional) chief economist economia del sector publico public economics economista superior senior economist economfa dependiente de la exportaci6n de un solo producto ecuaci6n de regresi6n export-enclave economy regression equation economia dirigida edici6n mediante microcomputadora command economy; controlled economy; directed desktop publishing economy; managed economy editar economia interna, nacional edit (texts for publication) domestic economy editor (de un texto) economia monetaria editor cash economy educaci6n a distancia economia no de mere ado distancel~n&t~ching nonmarketeconomy educaci6n blisica economia subterranea, paralela basic education parallel economy; black economy; underground economy; submerged economy educaci6n extraescolar out-of-school education economia(s) avoided cost educaci6n formal, academica formal education economias de concentraci6n agglomeration economies educaci6n informal informal education 308 edu.cad.cSn no formal efecto en, IObre 101 predol nonformal edu<.:ation price effect educadcSn permanente efecto generalizado continuing education; lifelong education; recurrent blanket effect edu<.:ation efecto (0 beneficio, etc.) mediato edu.cacicSn JeCUIldaria de dclo superior downstream effect. benefit upper secondary edu<.:ation efedo IeCUDdario educaci6n JeCUIldaria de primer dclo, de dclo pass-tbrough effect bWco lower secondary edu<.:ation efecto IeCUDdario, derivado spinoff effect; spillover effect. impact efectivOllaborales return of labor efecto IeCUDdario de urbanizaclcSn induced development effect; boomtown effect efedo de anuncio announcement effect efectos paper [financial] efecto de eapUaridad, aseendente bubble-up effect efectos comerdales commercial bills; commercial paper efecto de eaptacl6n Inddental de benefidarios snatching effect efectos de comerdo por cobrar trade receivables efedo de concentracicSn focusing effect efectos en eobro, cobranza float [banking] efecto de demostrad6n demonstration effect efedos eDemos externalities [projects] efecto de Oa) rattradcSn trickle-down effect efectos financieros financial paper efecto de Ingrao, de renta Income effect efedos negociables eligible paper efedo de Invemadero greenhouse effect efectos publicos government paper efecto de primera clue prime bill efectos publlcos, del Estado government securities efecto de sustitucicSn substitution effect efectuar una operadcSn de swap, de Intercambio de mooeda, de credito redproco efecto de trinquete swap, to [finance] ratchet effect eficada performance 309 ef"Kacia en fundon de 101 c:ostoI ejerdcio (eeonOmico) cost-effectiveness fiscal year; financial year ef"aaz en el UIO de la energfa ejerddo contable energy-efficient accounting period eficaz en fundOn de 101 COROI elaboraclon cost-effective development; processing efidencia del UIO f'mal de la energia elaboracion de came end use (energy) efficiency meat processing eficiencia en la utilizacion del combustible elaboraciOn de material fabricado en otro pais fuel efficiency offshore assembly. processing efidencia estatica elaboracion de produdol agropecuariOi static efficiency agroprocessing efidenda marginal del capital elaboracion de un proyedo, de proyedol marginal efficiency of capital project preparation efidencia x elaboracion por via hUrneda x-efficiency wet process [cement manufacture] efidente y de costo mM bajo elaboradon por via aeca cost-effective my process [cement manufacture] eficiente y de costo minimo elasticidad-ingreso cost-effective income elasticity egresadOi elastiddad-ingreso de la demanda output income elasticity of demand ejecudon (de una hipoteca) elasticidad-precio foreclosure own price elasticity; price elasticity ejecucion de un contrato leeUn SUI termiOOI elasticidad-precio cruzada specific perl'onnance cross price elasticity ejemplar autenticado elasticldad con re.specto al ingreso conformed copy income elasticity ejercer efecto multipllcador [finanzas] elastiddad con respedo al precto leverage, to price elasticity; own price elasticity ejercer inftuenda elastiddad coBstante de snstitucion leverage, to constant elasticity of substitution - CBS ejerciclo (eeonomico) elasticidad cruzada :financial year; fiscal year cross elasticity 310 elasticidad de la demanda eliminacion de aguas negras, senidas elasticity of demand sewage disposal elasticidad de la demanda en funcion del eliminacion de desechos ingreso waste disposal income elasticity of demand eliminacion de tugurios, de zonas de tugurios elasticidad de sustitucion slum clearance elasticity of substitution eliminar en Iibros elasticidad del impuesto write off, to tax elasticity eliminar por etapas, progresivamente elasticidad igual a la unidad phase out, to unit(ary) elasticity elusion del pago de aranceles (mediante el elasticidad tributaria global establecimiento de una empresa en el pais) tax buoyancy tariff jumping elegibilidad para participar en una Iicitacion elusion legal de impuestos eligibility to bid tax avoidance elegible embargo preventivo eligible [procurement] attachment pegal]; charge; lien pegal] elemento embarque component (of a project) shipping elemento concesionario, de donacion embarque, desembarque ,or propulsion propia concessional, concessionary element ro/ro [= roll-onlroll-off] elemento concesionario, de donacion embarque, desembarque por propulsion propia grant element roll-onlroll-off - mlro elemento de disuasion, disuasivo emision deterrent flotation [bonds] elemento en divisas emision continua foreign exchange component issues on tap; tap issue elementos estabilizadores, automaticos, emision de acciones (con derecho preferencial intemos, intrinsecos de suscripcion) built-in stabilizers rights issue, offering elementos no fisieos emision en divisas software foreign currency issue elementos nutritivos(as) emision exploratoria nutrients red herring issue 311 emisi6n fidudaria empresa en plena aetividad y crecimiento note issue going concern; growing concern emisi6n ofredda aI publico empresa estatal public offering. borrowing state-owned enterprise - SOE emisiones (de obligadones) en Europa empresa matriz European flotations parent company emisiones de organismos federales empresa mhta agency securities, obligations [u.S.1 mixed enterprise emitidos mediante ofen. publica empresa mixta, semipublic&, p&ramatal publicly issued (bonds, etc.) semipublic company empalme empresa produetiv&, que produce ingresos splicing revenue-eaming enterprise emplazamiento (de un proyecto) empresa publica site public corporation empleado "fantasma" empresa receptora del proyecto ghost worker project enterprise [MIGA1 empleado contratado localmente empresarlo local employee [IBRD] entrepreneur empleo de (los) fondos empresas asocia. pertenecientes aI mismo application of funds gmpo sister companies empleos de referenda benchmark jobs empresas de servicios publicos utilities empresa comisionista commissioned company empresas maquiladoras in-bond industries empresa con pocos ac:eionistas closely-held corporation emprestito loan capital empresa conjonta joint venture emprestito de suma global lump sum borrowing [IFC] empresa de obras y servidos de infraestructura infrastructure developer emprestito reembolsable de una sola vez a su vencimiento empresa de servicios publico. bullet issue public utility corporation emprestito reembolsable de una sola vez a su empresa del proyeeto vendmiento project enterprise [MIGA] bullet issue 312 emprestitos ealifieados eneaje legal qualified borrowing(s) [currency pool] legal reserve; minimum cash ratio; minimum cash requirement; reserve requirement emprestitos eompensatorios, contra depositos offset borrowings encaje legal adicional marginal reserve requirement emprestitos en el exterior foreign borrowing encargado de una edicion editor emprestitos giganteseos jumbo borrowing(s) encargar commission. to emprestitos pendientes de utilizacion undrawn borrowings encomendar commission. to en armonfa con, que armonice con el mere ado market-friendly encuesta survey en condiciones concesionarias, muy favorables concessional; concessionary encuesta (de seecion) transversal cross section(al) survey en el margen at the margin encuesta basica baseline survey en el muelle (derecbos por euenta del comprador) encuesta de actitudes ex quay (duties on buyers' account) Attitude Survey [IBRO] en existencia encuesta de gastos familiares off-the-shelf household expenditure survey - HES en pleno funcionamiento encuesta longitudinal full development;, at [project] longitudinal survey en terminos, cifras corrientes encuesta muestral, por muestreo current terms, in sample survey [statistics] en terminos, cifras reales encuesta por, de bogares real terms, in household survey enajenar a titulo oneroso encuesta puntual dispose (of) for value, to one-shot survey enanismo nutricional endeudado en exceso stunting; nutritional dwarfing overgeared encaje circulante, notante endeudamiento formso floating cash reserve distress borrowing energeticos de fuentes renovables renewable energy 313 energeticos renovable(s) eofermero(a) auiliar, no diplomado(a) renewable energy practical nurse energia a partir de biomasa eofermero(a) diplomado(a) biomass energy registered nurse energia comereial engorde en establo conunercial energy stall feeding energia de biomasa enlace biomass energy splicing energia de fuentes convenclonales enlace UHF, en freeuencia ultraalta conventional energy UHF link [telecommunications] energia de fuentes renovables enlace VHF, en freeuencla muy alta renewable energy VHF link [telecommunications] energia entregada enmienda presupuestaria presidential delivered energy budget amendment [U.S.] energia final, secundaria enmiendas aI Convenio Constitutivo final energy; secondary energy amendments to the Articles of Agreement energia hidroeleetriea ensayo de variedad(es) hydroelectric power; hydropower variety trial energia reeibida enseianza a distancia received energy distance learning, teaching energia renovable(s) enseianza en doble jomada, de doble tumo renewable energy double shift teaching system energia secundaria, final enseianza en multiples tumos, jomadas secondary energy; final energy multishift teaching energia sustitutiva enseianza privada con memdo(s) patentado(s) alternative energy proprietary training enfermedad con base en el agua enseianza simult4nea de varios grados water-based disease multigrade teaching enfermedad de transmisi6n vedorial enseres domesticos vectorborne disease household goods enfermedad transmitida ,or el agua entidad de pristamos en condiciones ordinarias, waterborne disease no concesionarias hard loan window eufermedad vineulada con la falta de higiene water-washed disease entidad paraestatal parastatal [noun] 314 entomo propiclo, favorable equilibrio fiscal, del presupuesto enabling environment fiscal balance entrada equipo de computaciiin intake bardware entrada de capital equipo de conmutaciiin capital inflow switching equipment [telephone] entrada en vigor de un convenio equipo de evaluaci6n effectiveness of an agreement appraisal team [IFC] entrada equipo de perforadiin petrolera returns; revenues oil (drilling) rig. platfonn entrada de fondos equipo(s) cash inflows equipment entrar en producdiin equivalente de subsidio aI consumo stream, to go on consumer subsidy equivalent - CSE entrega futura, a plazo equivalente de subvendiin de precios aI forward cover productor producer price equivalent - PPE entregado con derechos pagados delivered duty paid - DDP equivalente en ailos-personal staffyear equivalent - SYE entregado en frontera delivered at frontier - DAF equivalente en donadiin grant equivalent entregar release. to [capital] escala de precios price range envio referral; shipping escala decreciente degressive scale envio en comisiiin de servido secondment escalada de tarifa tariff escalation epizootia epidemic disease [livestock] escapatoria tributaria tax loophole equidad equity escasez de diilares dollar gap equidad horizontal horizontal equity escorrentia runoff [water] equidad vertical vertical equity escritura de constituciiin articles of incorporation; charter (of a company) 315 escritura de constitucion de deuda espado libre deed of trust clearance escritura de fideicomiso especialidad (farmaceutica) deed of trust brand name drug escritura social especializacion charter (of a company) advanced training escuela de aplicacion especies esenciales demonstration school~ laboratory school~ model key species school~ practice school especificacion de servicios laborales escuela diversificada, polivalente performance work statement - PWS comprehensive school especificaciones de funcionamiento escuela experimental performance specifications demonstration school; laboratory school~ model school; practice school especifico brand name drug escueJa organizada por seeciones streamed school especimen de firma autenticado authenticated specimen of signature escuela preparatoria contributory school; feeder school; preparatory especuJacion (en la Bolsa) aprovecbando school informacion interna insider dealing, trading escueJa secundaria de primer cicio junior high school especulador (en la Bolsa) que aprovecba informacion interna escurrimiento insider dealer, trader runoff [water] esperanza de vida esferas empresariales, comerciales life expectancy business community esperanza matematica esfueno propio mathematical expectation [mathematics] self-help espiral salarios-precios esfueno tributario wage-price spiral tax effort espiritu empresarial eslabonamiento descendente de una industria entrepreneurship forward linkage of an industry esquela eslabooamientos interindustriales, entre tombstone industrias interindustry linkages esquisto bituminoso oil shale espaciamiento de los nacimientos birth spacing 316 estabilizacion estado de Bujo de fondos leveling off statement of changes in financial position; sources and application offunds statement~ funds estacion (de bombeo) de refuer.zo, de rebombeo statement; working capital statement; source and booster (pumping) station use of funds statement; funds flow statement; changes in working capital statement; statement of estacion elevadora sources and applications of funds; statement of step-up power station cash flows [World Bank] estacion reductora estado de fuentes y utilizacion de fondos step-down power station statement of changes in financial position; sources and application offunds statement; funds estadaa statement; working capital statement; source and laydays~ Jaytime use offunds statement; funds flow statement; changes in working capital statement; statement of estadastieas del estado civil, vitales sources and applications of funds; statement of vital statistics cash flows [World Bank] Estado estado de gastos government statement of expenditure - SOE estado estado de ingresos y gastos, de perdidas y status ganancias income statement [US]; profit and loss account Estado aereedor [UK] sovereign creditor estado de pagos (eertifieado) Estado benefactor, providente progress certificate [IBRD1 welfare State estado de situacion financiera estado eonsolidado de ingresos y gastos statement of condition [IDA] consolidated income statement estado financiero Estado Contratante financial statement Contracting State [ICSID, MIGA1 estado finaneiero intermedio estado de cuenta interim financial statement statement of account Estado que puede adherirse estado de euentas por eobrar seg6n fecha de State eligible to sign (the Convention) [ICSID1 vencimiento aging schedule [accounts receivable1 estado resumido summary statement estado de euentas verifieado, auditado audited statement of accounts estado ribereno, eostero coastal state estaneamiento stagnation (of the economy) 317 estanflaci6n estructura stagflation structural work estanques de sedimentaci6n estructura de cabecera sedimentation ponds head gate structure [irrigation] estercoladura de base estructura de capital basal dressing; bottom dressing capital structure estercoladura de superficie estructura de la producci6n top dressing [agriculture] product mix estimaci6n cuantitativa estructura del capital social bill of quantities ownership structure (of a company) estimaci6n cuantitativa con precios estructura del comercio priced bill of quantities trade pattern estimaci6n de costos estructura iostituciooal cost estimate institutional framework estimaci6n de la base impositiva estructura organica tax assessment; assessment for tax organizational structure estimaciones cuantitativas preIimioares estructura social preliminary estimates of quantities corporate structure estimaciones presupuestarias estructura tarifaria escalonada budget estimates stepped tariff structure estimador de materiales estructuras met8Jicas quantity surveyor metal works estimulo estudiante (que no ha recibido eI primer titulo incentive universitario) undergraduate estipulaciones covenants [loan agreements] estudio survey estrangulamiento bottleneck estudio (ambiental) preIiminar environmental screening estrategia ante (de) la deada debt strategy estudio (de evaluaci6n) del sector privado private sector assessment - PSA estres ambiental environmental stress estudio aeromagnetico aeromagnetic survey; airmag survey estres por falta de humedad moisture stress estudio aeromagnetico airmag survey; aeromagnetic survey 318 estudio basil» estudiOl econ6mieo1 y Iectoriala baseline survey economic and sector work· ESW estudio de factibilidad, de viabilidad estudiOl econOmicos y tectoriala de paises feasibility study country economic and sector work· CESW estudio de los efecto& ambientales estudiOl operacionales environmental review operational review estudio de preinvenion estudios posteriOrel al primer titulo preinvestment study, survey univenitario postgraduate studies estudio de recunos energetieOl [de un pais] audit [energy] estudios 80bre finanzu naeionales domestic finance studies estudio de reeursos energetieos [de un pais] energy audit estudios tec:nieos detallados detailed design. engineering estudio de seguimiento de egresados tracer study [education] estudios tec:nieos preliminares preliminary design. en~ring estudio de suelos, edafologico soil study, survey estudiol tec:nieos, de ingenieria engineering studies estudio de un easo pnimeo, de easos pr8.etieos case study estudios univenitarios para obtener eI primer titulo estudio documental, de referenda undergraduate studies desk study etapa inidal estudio preliminar development period (of a project, of a company) reconnaissance survey etiquetas verdes estudio sismieo green labeling seismic survey eurobonOl estudio 80bre un pais, paises Eurobonds country study euroemisiones estudios avanzados Euroissues bigher training euroesterlina estudios avanzados, superiores, de Eurosterling perfeceionamiento advanced studies evaluacion perfonnance evaluation [personnel] atudios eomparados entre paises cross-country studies evaluaei6n (inidal) de un proyedo, de proyectos project appraisal estudios de posgrado postgraduate studies 319 evaluaciOn administrativa evaluaciOn ex post comblnada audit; management audit [management] cluster audit evaluacion ambiental evaluacion ex post de un proyecto, de proyectos environmental assessment - EA project evaluation, audit evaluaciOn con la participacion de los evaluacion ex post, a posteriori beneficiarios ex. post evaluation beneficiary assessment evaluacion general, integral, a fondo evaluaciOn con la participacion de los comprehensive auditing babitantes de las zonas I1lrales participatory rural appraisal, analysis - PRA evaluaclon Incorporada en los proyectos built-in evaluation [projects] evaluaclon de funciones diredivas staff audit evaluacion inicial (tb.:nica y economica) appraisal (technical and economic) evaluacion de la pobreza COD la participacion de los afectados evaluacion medica periodica participatory poverty assessment - PPA periodic health assessment - PHA evaluacion de los coslos durante la vida util (de evaluacion preliminar equipos) preappraisal life cycle cost evaluation evaluacion previa evaluacion de los efectos ambientales appraisal (technical and economic) environmental impact assessment - EIA evaluacion previa, ex ante evaluacion de los efectos sociales ex. ante evaluation social impact assessment - SIA evasion (iJegal) tributaria, rISeal, de impuestos evaluacion de los resultados tax. evasion audit [projects] evasion legal de impueRoS evaluacion de recursos energeticos tax. avoidance energy assessment evolucion evaluacion de resultados development performance audit ex officio evaluacion del imp ado ambiental ex.-officio [ICSID] environmental impact assessment - EIA ex participante evaluacion ex ante fellow [EDI] appraisal (technical and economic) examen evaluacion ex post examination (of witnesses or experts) [ICSID] evaluation [projects] examen (ambiental) sabre el terreno evaluacion ex post abreviada de un proyecto environmental reconnaissance pass-through audit [IBRD] 320 examen de Ia ej~ucion de proy~tos sectoriales exclusion del rigimen de contabilidad en sector implementation review - SIR valores devengados nonaccrual status enmen de la ej~ucion del (de un) proy~to project implementation review - PIR excretas night soil examen de mediados del periodo (de una reposicion) exencion (de una obligacion) Midterm Review - MTR [IDA] waiver enmen de mitad del ejercicio, de mitad de aDo exencion de impuestos midyear review tax exemption examen del uso de la energi'a exencion parcial energy audit waiver exam en medico exencion tributaria health screening tax allowance edmenes exento de derechos achievement tests [education] duty-free excedente exigencia overhang claim excedente de capacidad exigible excess capacity callable (capital, subscription) excedente del consumidor exigir el agotamiento previo de las vias consumer surplus administrativas 0 judiciales (de un Estado) exhaustion of local administrative or juridical exceder el objetivo remedies [ICSID] overshoot exigir el reembolso anticipado de un prestamo excepcion de incompetencia accelerate a loan objection to jurisdiction [ICSID] exigir el reembolso de un pristamo exceso de empleo call in a loan, to overemployment exigir el reembolso de un pristamo antes de su exceso de inversiones vencimiento overinvestment accelerate a loan exceso de olerta eximir (de una obligacion) overhang waive, to exceso de personal existencias redundancy [staffing] inventory; inventories existencias reguladoras buffer stocks 321 exoneradon temporal (pardal 0 total) de exportaciones de excedentes del mereado impuestos interno tax holiday spillover exports expansion de la masa monetaria exportaciones en regimen de trueque monetary expansion bartered exports expansion monetaria exportador de petroleo con deficit de capital monetary expansion capital-deficit oil exporter expatriado exposicion expatriate statement expectativas inOacionarias expresado inflationary expectations denominated in (dollars, etc.) expectativas racionales expresar en cifras netas rational expectations net out experiencia extension skills extension [agriculture) expertos extension agricola expertise agricultural extension expertos en medio ambiente extensionista environmentalist agricultural extension officer - ABO; extension agent, worker explotacion development externalidades [proyectos) externalities [projects) explotacion a cielo abierto, a tajo abierto [Chile) extracci6n strip mining; open pit, open cast, open cut mining offi:ak:e [livestock] explotacion agricola extraccion de madera farm logging [forestry} explotacion forestal extraccion exeesiva de irbcles logging [forestry) tree mining; forest mining explotacion inicial extracto initial operation abstract (of a publication) exportable 0 importable extraeto de euenta tradable [adj.] statement of account exportaciones de bienes y servicios extraordinaria exports of goods and services - XGS below the line (item) 322 fabrieadon "Justo a tiempo" factoraje just in time (JI1) manufacturing factoring fabric:adon con ayuda de c:omputadoras fadores de atrac:don (dellugar de destino) computer aided manufacture - CAM relac:ionados c:on la demand a demand-pull factors fabric:ac:ion de ac:ero en hogar abierto, en homo Martin-Siemenl fadores de redlazo (dellugar de origen) open-hearth steelmaking reiadonados con la oferta supply-push factors fabric:adon por via hOmeda wet process [cement manufacture] fac:ultad authority [legal] fabric:adon por via seca dIy process [cement manufacture] fac:ultad de adquisidon de c:ontratos con intere. tope faaimO de firma autentic:ado Global Cap Authority [IFC] authenticated specimen of signature fac:ultad de otorgar garantias factor conc:esionario, de donadon guarantee authority concessional, concessionary element; grant element fac:ultad dedsoria, de decision decision-making power factor de c:arga load factor [electricity] fac:ultad legal legal authority fador de conversion basado en eI c:onsumo consumption conversion factor - CCF fac:ultad para c:onceder pristamos lending authority fac:tor de c:onvenion estAndar standard conversion factor - SCF fac:ultad para c:ontraer c:ompromisos commitment authority; authority [IDA] fador de desc:uento, ac:tualizadon discount factor fac:ultad para efectuar BWtIpS Global Swap Authority [IFC] fador de disuasion, disuasivo deterrent fac:ultad presupuestaria budget authority fador de fondo de amortizadon sinking fund factor falada de composidon fallacy of composition factor de intere. compuesto compounding factor familia e:densa extended family factor de reeuperac:iOn del c:apital capital recovery factor - CRF familia monoparental one parent family; single parent family, household fac:tor de revaluac:iOn revaluation factor [currency pool] fudc:ulo release [ICSID] 323 lase ascendente, de expansion fianza de cumplimiento upswing performance bond lase descendente, de contraccion fianza de la olerta downswing bid bond. garantee, security lase inicial fianza de pago development period (of a project, of a company) payment bond [US] lavoritismo fianza de reembolso cronyism repayment bond lecha de activacion fianza por pago anticipado trigger date [mRD] advance payment bond lecha de cierre fideicomiso closing date trust fund lecha de cierre, de Iiquidacion fideicomiso "ciego" settlement date blind trust lecha de desembolso fideicomiso cuya composicion es desconocida payout date por el beneficiario blind trust lecha de entrada en vigor effective date fijacion anticipada del interes anticipatoIY rate setting· ARS lecha de valor value date fijacion dlculo de precios sociales social pricing lecha limite cutoff date [debt] fijacion de carbono caIbon fixation, sequestration lenomeno de la doble tarea (de la mujer) double-day phenomenon fijacion de cargos por el uso de las carreteras road pricing lertilidad fecundity fijacion de precios price fixing lertilizante compuesto compound fertilizer; mixed fertilizer fijacion de precios al cosio marginal marginal cost pricing lertilizante de superficie top dressing [agriculture] f"ljacion de precios de transferencia entre empresas lertilizante nitrogenado intercompany pricing nitrogen, nitrogenous fertilizer fijacion de precios en funtion del costo lertilizante simple cost pricing single fertilizer 324 fijacion de preci08 equivalentes en operaciones fmanciamiento concatenado de cofinanciamiento piggyback financing loan equivalency pricing financiamiento conjunto espedal fijacion del costo de un pristamo S~JointFinancing loan pricing, costing financiamiento contra (actura fijacion diferida de la tasa de intem y la normal financing moneda deferred rate and currency setting financiamiento de contrapartida matched funding [IFC]; matching funds fIjacion diferida del inteRS deferred rate setting - DRS financiamiento de la deuda debt funding fijacion iUcita de precios (entre productores) price fixing financiamiento de los iiltim08 venc:imient08 funding latter maturities fijar peg. to (prices, interest rates) financiamiento en apoyo de reformu de politicas filtro de tela policy-based lending; policy loans [IBRD] bag filter; baghouse filter financiamiento en condiciones comerdales financiacion con, mediante deficit commercia1lending presupuestario deficit financing financiamiento en condiciones de Mercado market-related lending financiaci6n mediante endeudamiento debt financing fmanciamiento en valores security lending financializaci6n financialization financiamiento estructurado structured financing financiamiento a mediano 0 largo plazo term financing financiamiento innovador, Imaginativo creative financing financiamiento combinado (del BIRF y la AIF) blend financing; mixed financing financiamiento "mezzanine" mezzanine financing financiamiento complementario complementary financing; follow-up financing; financiamiento para energia repeat financing energy lending financiamiento con garantla fmanciamiento para programu collateral financing program loan, lending financiamiento con recurso limitado financiamiento para un proyecto, para limited recourse finance proyectos project loan, lending fmancjamiento con tipo de interis fijo fixed-rate financing 325 ftnod-mlento paralelo lIujo de capital parallel financiDl capital flow; capital movement IiDaDdamieato prerio lIujo de estudiantes, alumnos prefinancing student flow f'mandamiento retroactivo lIujo de fondos retroactive filUlDC\ng; retrofinancing cash floW; funds floW; flow of funds linanciuniento sin posibilidad de Reuno flujos de caja nonrec:ourse :finance cash flow finaDcbmiento transitorio lIujos de capital en condidones no bridging arrangement, credit concesionariu nonconcessional, nonconcessioruuy flows flnanciuniento; pJan de f'manciamiento financing package lIuJos de costos y beneficios streams of costs and benefits f'mca farm lIuJo (de fondos) en condidones concesionarias concessional flow finea (de produedOn) de semiUu seed farm lIujos f'manderos financial flows Ii...a eonsultora, de eonsultores consulting firm lIujos oficiales official flows [development] Ii...ar un eonvenio, un acuerdo execute an agreement, to focalizaci6n targeting rlBCalizacl.6n del desempe60, de los resultados performance monitoring fomento development f'ucalizad6n ,or los pares peer monitoring fomento dd comercio trade promotion ftto&enetiea plant breediDl fondo comun de inversiones money market (mutual) fund - MMF~ mutual fund lIaibUidad monetaria monetary ease fondo comu de monedas currency pool lIota fleet [transpOrtation] fondo de amortizaci6n sinking fund fluctaaci6n de los ti,os de interes debida a la fuga de eapitale8 fondo de anticipos interest leakage imprest account, fund lIuctuacl6n de predos fondo de capitalizaci6n de la deuda price swing debt..equity conversion fund [IFC] 326 fondo de cobertura del riesgo cambiario fondo Olutuo que tobra comisi6n foreign exchange coverage fund load fund fondo de tomercio; "derecho de Dave" fondo para eI fomento de las exportaeiones goodwill export developDlent fund - EDF fondo de converd6n de Ia deuda en capital Fondo para la Maternldad sin Riesgos debt-equity conversion fund [IFC] Safe Motherhood Fund [IBRDIWHO] fondo de estabilizaci6n fondo rotatorio stabilization fund revolving fund fondo de estabilizaci6n cambiaria fondos de tontrapartida exchange stabilization fund counterpart funds fondo de igualaci6n, de equiparaci6n fondos de contrapartida equalization fund IIUltched funding [IFC]; IIUltching funds fondo de inversi6n en acciones fondos de explotaci6n equity fund working funds fondo de inversi6n que no cobra comisi6n fondos de Ifbre utilizaci6n no load fund free funds [IDA] fondo de inversiones fondos de Ifbre utilizaci6n de la AD invesbnentcoDlpany.fund IDA's "free-funds" fondo de inverdones de cartera fondos de un elia para otro equity portfolio fund overnight funds fondo de regulaci6n, de estabilizaci6n fondos de un prestamo 0 cridito buffer fund proceeds fondo de seguridad social fondos en efectivo social security fund balances [cash] Fondo de Subvenci6n de Intereses [= Tercera fondos fiduciarios VentanilIa] funds-in-trust Interest Subsidy Fund [= Third Window] fondos intercambiables, transferibles fondo fiduciario fungible funds trust fund fondos no disponibles para pristamos fondo indicativo [fondo tomun de Olonedu] unreleased funds reflecting pool forestaci6n fondo internacional de garantiu de credito afforestation international credit guarantee fund forfetizaci6n fondomutuo forfaiting Dloney market (DlUtual) fund - MMF; mutual fund 327 formacl6n f6rmula de J'ilipinas educational badcground; skills development Philippines formula [MOV] formaci6n avanzada, especl.aJizada formulad6n advanced training design formacl6n bnata de c:apital rajo formulad6n de un proyecto, de proyectol gross fixed capital formation - GFCF project design formacl6n de c:apital forraje arb6reo capital formation tree fodder formad6n de instnadores fortaledmiento institudonal wholesale training imtitution building formacl6n de recul'808 humanos, de la mano de forzamiento radiativo obra radiative forcing manpower development foscilad6n de precios formac:i6n en el empleo, trabajo price swing on-the-job training fostonta formacl6n en el propio pail phosphate rock; rock phosphate retail training foso IICptic:o formac:i6n en el servido septic tank in-servicetraining frac:donamiento de adquisidones formac:i6n en la empresa slice and package [procurement] in-house training franc:o a bordo - f.o.b. formad6n interna de c:apital free on board - FOB domestic asset formation; domestic capital formation franc:o al c:oRado del buque - f.Ls. free alongside ship - F AS formad6n para el puelto, c:argo job-related training franc:o de averla partic:uiar free of particular average - FPA formacl6n profesional vocational training franc:o de c:arga y desc:arga - f.to. free in and out - flo formad6n teenica technical background franco en muelle free on quay - FOQ; free on wharf - FOW formalizaci6n delivery (of a contract) franc:o transportiRa free carrier (named point) - PRe formu novedosas de rmandamiento creative financing franc:o vag6n free on rail - FOR 328 franquicia funcionamiento y mantenimiento deductIble [insurance] Operations & Maintenance - 0 & M franquicia funcionario autorlzado franchise authorized officer franquicia correspondiente a la primera funcionario contratado localmente perdida local employee [IBRD] first-loss deductible [insurance] fundonario de uistencia tUnica freno fiscal technical assistant fiscal drag funcionario de extension, de divulgaciOn fuel 00 outreach worker fuel oil funcionario denacado en el terreno fuente (de contaminacion) no identificable field worker nonpoint source funcionario encargado de un pais fuente puntual desk officer point source [environment] funcionario superior fuena de ley senior manager legal force fundonarios fuens de trabajo, laboral staff labor force funcionarios de contrapartida fuga de capitales counterpart staff capital flight; :flight of capital funcionarios de nivel profesional fuga de cerebros, mdo de intelectuales higher level staff brain drain fundonari08 superiores fumigacion con tuque Uevado a la espalda senior level staff knapsack spraying fusion funcion bienestar merger welfare function; utility function fusion (mediante fundacion de una nueva funcion cataliza.dora empresa) catalytic role consolidation (of companies) funcion de bienestar social futuros social welfare function futures funcion objetivo futuros financieros objective function [economic analysis] financial futures funcion utilidad gama de precios welfare function; utility function price range 329 pnaderia prantia de fundonandento de acuerdo con las animal husbandry espec:ificaciones garantizadas "put right" guarantee lanado de doble f'malidad dual-purpose cattle garantia de la olerta bid bond, garantee, security ganado en pie cattle on the hoof garantia de pago payment guarantee ganancia eambiaria exchange premium guantia de primer grado first ranking security ganancia de capital capital gain larantia de reembolllO repayment guarantee lananda neta back value; netback value [energy] garantia irrevocable de reembolllO irrevocable agreement to reimburse gananda neta no reaJizada net unrealized gain garantia pagadera a la vista on demand guarantee ganancia(s) earnings larantia por pago antidpado advance payment bond; advance payment security ganancias de capital reaJizadas locked in capital gains larandas relativas a la transformaciOn de riesgos ganandas no reaJizadas risk transformation guarantees unrealized gains garantizar un p.-estamo ganancias ocasionales, eventuaJes secure a loan. to occasional earnings gas asociado garante associated gas underwriter [securities] las de homo de coque guanda coke oven gas collateral; security gas de petroleo licuado - GPL garanda condicionaJ liquefied petroleum gas - LPG qualified guarantee gashomedo garanda de cumplimiento wet gas perfonnance guarantee [consultants] gas naturallicuado - GNL garantia de cumplimiento, contra el riesgo de liquefied natural gas - LNG incumplimiento perfonnance security [contracts] las no asociado nonassociated gas 330 Plpobre gutos de emision producer gas flotation costs [bonds] PI que procbtce eI efecto de invemadero gutol de explotac:ion greenhouse gas - GHG running costs PI que produce retenclon termica gatos de explotadon, de operadon heat trapping gas business expenses gasif'lCac:i6n del carbOn gatos de explotac:ion, operac:ion, coal gasification funclonamiento operating expenses, costs gas61eo diesel fuel; diesel oil gutos de mantenimiento, conservac:ion upkeep costs gasto bnato de capital fiJo gross fixed capital expenditure; gross fixed gatos descentralizados investment unit-managed costs guto concentrado aI comienzo de un periodo gatos diferidos front-loaded spending deferred charges, expenses gasto(s) de capital gados en efectivo capital expenditure; capital outlay cash expenditures gasto de eonllUlDO final privado gatol en petrOleo private final consumption expenditure - PFeE oil bill [national] guto discrecional gatos extraordinari08 discretionary spending nonrecurring expenses gato no asignable gutolfijos unallocatable expenditure :fixed costs gasto(l) pliblico(l) gutosfiscales government expenditure tax expenditures gutos admisibles, ac:eptables, rmanaables gutos generales eligible expenses overhead costs; overheads gatos capitalizados gatos generales dired08 capitalized expenses managed costs gatos centralizados gutos inidales, de instaIaaon centrally-managed costs initial expenses gutol eoncentrados aI comienzo de un periodo gatos medicos del personal retirado no front loading cubiertos por eI sistema de pension non-pension retiree medical costs gutol fmiciales) de eoDBtitucl6n formation expenses; organi7.ation expenses 331 pstos ao monetarios gatiOn fmanciera de lu socledadea nonc:ash expenses corporate finaDce pstos ordinariOl (en pre&upu.eltOI) gesti6n participatoria recurrent costs, expenditures participative management pstos peri6ditol gesti6n ,or objetivos recurrent costs, expenditures management by objectives - MBO pstos preventiVOI girar rondos defensive expenditures draw, to (funds) pstos publitol de capital giro public (capital) expenditure drawdown pstosllUperiores a 101 previJtol giros pendientel de reembolso overexpenditures outstanding drawings [1Mf] generalizad6n globalizacl6n stylized fact globalization genetiIta [apedel vegetalea] gobenable breeder [agriculture] manageable gerentel gobierno managers governance; government gennoplasma grado de indinaci6n gennplasm steepness (of a curve) gesti6n de (los) rieagos graduaci6n (paso de las eondicionel de la AIF a risk management ludel Baneo graduation [IBRD] geati6n de caja cash management graduarse graduate. to [Bank, IDA] gesti6n de la demanda demand management grMico de barril barchart gesti6n de Ia inltitucl6nt empresa corporate management grMito de clrtuIaci6n flow chart; process chart gesti6n de la liquidez liquidity management; liquidity portfolio grMitO de dilpeni6n management scattered plotting gesti6n de puiVOl grMieo de ejetud6n liability management progress chart gesti6n eeon6mica, de la eeoaomia grMito de ejetuti6n de Iu obras economic management construction progress chart 332 grMico de sltuada. grupo de lngreso(s) working table; peIformance chart; management income bracket chart Gl1IPO de los Cinco gran computadora Group of Five mainframe computer Gl1IPO de los Diez gran ordenador IEspda] Group ofTen mainframe computer Gl1IPO de los Quince granja Group of Fifteen farm Gl1IPO de los 77 granja (de producclon) de semillas Group of Seventy-Seven seed farm Gl1IPO de los Side granos albnentarlos Group of Seven food grains Gl1IPO de los Ve1nticuatro gravamen Group of Twenty-Four lien; charge [legal1 grupo de participacion abierta gravamen (tributarlo) open-ended group levy grupo de trabajo gravamen a las importaciones task force import levy Gl1IPO de Trabajo Intemacional de grupo Compiladores de Estadisticas 80bre la Deuda caucus (of countries at Annual Meetings) Extema International Compilers Working Group on grupo abierto External Debt Statistics open-ended group Gl1IPO del Banco Mundial grupo beneficiario World Bank Group target group grupo desfavorecido grupo de colocaciOn disadvantaged group selling consortium, group, syndicate grupo escogido (como meta) grupo de direcci6n, directivo target group management group; managing group grupo impositivo grupo de estudio tax bracket task force grupo muestra elegido grupo de evaluadOD ambiental focus group environmental (advisory) panel gruPO objeto de ••• grupo de 9pertos target group panel of experts; thematic team; think tank 333 grupo previsto bidrofluorocarbono - HFC target group hydrofluorocarbon - HFC grupo vendedor bigiene ambiental selling consortium, group, syndicate environmental health, sanitation grupos de ingresos mb devados biperempleo higher income brackets overemployment grupos bomogeneos de diagn6stico bip6tesis diagnostically related groups - DRG counterfactual grupos que viven en la pobreza absoluta bip6tesis dd progreso tecnico incorporado absolute poor embodiment hypothesis guerra y disturbios civiles bistoria clinica war and civil disturbance [MIGA] personal history [medicine] guia del maestro hoja de asistencia teacher's guide time sheet babilitaci6n boja de plazos y condiciones eligibility; eligibility conditions; empowerment tenn sheet babilitaci6n de tierras boja electronica de cailculo land development spreadsheet bacer inveniones en acciones comunes bomo economicus take a straight equity position, to economic man bacerse cargo bonorario take over, to consideration pegal, economic] hambre oculta, encubierta bonorario anticipado hidden hunger retainer becho estilizado, de ocurrencia frecuente borario (de trabajo) bbico stylized fact core hours; core (working) hours bidrocarburos aromaticos policiclicos - HAP borario flexible polycyclic aromatic hydrocarbons - P AlI flexitime; flextime bidroclorofluorocarbono - HCFC bortaliza de fruta hydrochiorofluorocarbon - HCFC fruit vegetable hidrocraqueo buerta (de producci6n) de semillas hydrocracking seed garden bidrofluoroalcano - BFA idea hydrofluoroalkane - HFA design 334 identificadon impuesto de la inflation borrower ownership; ownership (of programs) inflation tax identificacion de un proyecto, de proyectos impuesto de origen project identification origin tax importe de un prestamo 0 cridito impuesto de valorizaclon proceeds betterment levy, tax imposidon de pred08 por eI fabricante impuesto de valorizacion, sobre la plusvalia resale price maintenance· RPM land betterment tax impresion (de computadora) impuesto en cucada printout cascade tax impreso (de computadora) impuesto para fines especif'lCos printout earmarked tax imprevistos impuesto por etapu, en caseada contingencies multiple stage tax imprevistos financieros impuesto progresivo financial contingency graduated tax impuesto a lu emislones de carbono impuesto que significa la inflacion caI'bon tax inflation tax impuesto a lu empresu impuesto retenido en la fuente corporate tax withholding tax impuesto a lu socIedades impuesto seglin uso rmal corporate tax end use tax impuesto aI conswno impuesto sobre el volumen, la cifra de negodos excise tax turnover tax impuesto at, sobre eI valor agregado, ailadido • impuesto sobre gananciu de capital IVA capital gains tax value-added tax - VAT; tax on value added impuesto sobre Ia plusvalia impuesto cedular betterment levy, tax schedular tax; scheduled tax impuesto sobre la plusvalia impuesto de capitation capital gains tax poll tax; head tax; capitation tax impuesto sobre lu utilidades impuesto de iguaiadOn, de equiparadOn de corporate income tax [US1; business (profit) tax; intereses corporation tax [UK] interest equalization tax impuesto sobre lu utiUdades, los beneficios profits tax 335 impuesto 80bre nOmin., incentivol para Ia inversion payroll tax investment incentives impuesto 1Obre, a la renta incidencia income tax incidence [medicine] impuesto 8Obre, a la(l) venta(l) indinacion sales tax bias [economy; statistics] impuesto 8Obre, a I., utilidades, los benef"lCios incorporar a I., actividades habituales (del income tax [corporations] Banco) mainstream. to impuesto territorial land tax incremento anual medio mean annual increment - MAl [forestIy] impuestos en mora delinquent taxes incumplimiento de contrato breach of contract impuestos fronterizos border taxes incumplimiento de obligaciones default on obligations impuestos ,or beneficios benefit taxes [IBRO] indemnizacion compensation impuestos scpn mereado rlDai destination taxes indemnizaciOn compensatoria compensatory damages imPUestOI 80bre la renta pre.suntiva, presunta presumptive taxation indemnizaclon por accldentes de trabajo workmen's compensation impul80 tak.e-01I indemnizaclon por despido severance pay inadmisible ineligible indemnizadon ,or terminaclon, resclsion, cese de fundones, despido inamovilidad tennination grant security of tenure independiente incentivo free-standing; self-contained incentive indicador anticlpado incentivo en dinero leading indicator incentive payment indicador coincldente incentivo tributario convergent indicator tax incentive indicador contemporineo incentivos de preei08 concurrent indicator price incentives 336 indicador economic:o fndice de preciOi de 101 metalea y mineralea economic indicator Metals and MineIals Price Index [IBRD] indicador primario de las tendendas fndice de preciOi de 101 produdos agricolas no economicas alimentariOi bellwether (of economic trends) Non-Food Agricultural Price Index [IBRD] indicador retrospectivo indice de recuento de la pobreza lagging indicator headcount index (measure) ofpoverty; headcount ratio-HCR indicadores de las perspectivas econOmicu a corm plazo fndice de recuperacion de la renta economica Short Term Economic Monitor [IBRD] rent recovery index [projects] Indicadores del desarroUo mundial indice de rendimiento total World Development Indicators - WDIs Total Return Index [IFC] indicadores del deaempefto, de la actuacion indice de rentabilidad total perfonnance indicators Total Return Index [IFC] fndice combinado de desempefto de la cartera indice de variaciOn current blend [IFC] instability index indice de aprovechamiento del forraje fndice de vida dinamica feed conversion ratio dynamic life index [commodities] indice de cobertura de las importadonea fndice de volumen import coverage index quantum index indice de eficiencia tecnica fndice del valor unitario de las exportaciones technical-efficiency index - TEl unit value export index indice de netel maritimos indice del valor unitario de las manufacturas - ocean freight rate index VUM (World Bank) Manufacturing Unit Value (MUV) Indice de invemadero Index greenhouse index Indice del valor unitario de las manufacluras - Indice de la calidad material de la vida VUM Physical Quality of Life Index - PQU Manufacturing Unit Value Index [World Bank] indice de octano indice en cadena motor octane number - MON chain index Indice de precios al consumidor fndice matico de las reservas (dos) ~nsumer price index - CPI Static Life Index [commodities] Indice de precios de los alimentOi indice global de preciOi de 33 productos baisicos Food Price Index [IBRD1 33-Commodity Aggregate Price htdex [IBRD1 337 Indices de Cobenura Amplia de la CFI (Indices industria no localizada, sin vinculacion IFCG) permanente IFC Global Indexes (lFCG Indexes) footloose industIy Indicet de la CFI de Valores para Invenion industria petada (Indices IFC)) heavy industIy IFC Investable Indexes (lFCI Indexes) industria pionera, de van guardia industria auiliar, abastecedora pioneer industIy supplier industIy industria tecnica, mednica, metalmecanica industria basada en recursos naturales engineering industIy resource based industries industrias de elaboracion de productos agricolas industria con gran intensidad de mano de obra agroprocessing industries labor-intensive industIy industrias de zona franca industria de apoyo a Ia agricultura in-bond industries agrosupport industIy industrias maquiladoras industria de elaboracion de alimentos in-bond industries food processing industIy inelasticidad con respecto aI precio industria de la construction price inelasticity construction sector inestabilidad industria de servicios volatility service industIy inflaciOn basica industria del transporte por carretera core inflation ttucldng industIy inflacion de dos digitos, de 10% 0 mas industria en decadencia, en crisis double digit inflation; two digit inflation depressed industIy inflacion de los precios de los activos industria familiar, cssera, artetanal asset price inflation cottage industIy inflacion desenfrenada, galopante industria fronteriza runaway inflation border industIy inflacion desfasada industria tigera, Uviana lagged inflation light industIy inflacion galopante industria metalmednica galloping inflation heavy engineering industIy inflacion inertial industria naciente, incipiente inertial inflation infant industIy inflacion latente, oculta hidden inflation 338 inflation producida ,or la (presion de la) informe f'lDai de ejecudoa - lEE demanda Implementation Completion Report - ICR demand-pull inflation informe inidal inflacion produdda ,or 101 warioa inception report wage pull inflation informe largo de auditoria inflaclon progresiva long form audit report creeping inflation informe presupuestario trimestral inflation provoeada ,or eI aIza de los costos apex report cost-push inflation informe IObre la marcha (de un proyedo), IObre iDfladon SUbyaceDte la labor realizada, IObre lu actividades underlying inflation progress report; status report iDfluenda en eI mereado informe IObre lu repereusionel (de un market power proyedo) impact (evaluation) report informacion desactualizada dated information informe IObre miaion realizada back-to-oflice report - BTO informacion obtenida feedback (of information) infracostos cost underrun; underrun cost informatizado computerized infraestl1ldura (economica) capital infrastructure informe corto de auditoria short form audit report infraestl1ldura rlSica physical infrastructure informe de cuentu ,or cobrar segUn fecha de vendmiento infraestl1ldura primaria aging schedule [accounts receivable] trunk infrastructure informe de evaluacion de los efedos infraestl1ldura social impact (evaluation) report community facilities; social infrastructure; social overhead capital informe de evaluacl6n ex post de un proyedo project performance audit report - PPAR infrueguro underinsurance informe de evaluacl6n iniclal preparado ,or eI personal ingenieria ambiental, del medio ambiente staff appraisal report - SAR environmental engineering informe de fin de miBlon ingenieria de dildo end-of-mission document design engineering informe de termination del proyedo, de ingenieria de procesos proyectos -1TP process engineering project completion report - PCR 339 ingenieria del valor ingrao nadonal aJUItado eonfonne a valueengineering conslderaeionel aDlblentalet - INA environmentally adjusted national income - ENl ingenieria ecol6gica environmental engineering ingrao nadonal bnlto - YNB gross national income - GNY ingenleria linanelera [MUIeo) financial engineering ingrao neto ,or senieios de 108 fadores net factor service income ingeniero eon_tor engineering consultant ingrao per eApita, ,or babitante per capita income ingeniero hidrOlogo, hidrAulico water engineer ingre80(S) earnings; income ingesta intake ingreso(s) proveniente(s) de propiedades public.. ingesta de alimentos property income [government] food intake ingreso(s) apicola(s) ingesti6n farm income intake ingreso(s) de equUibrio ingesti6n de alimentos equilibrium income food intake ingreso(s) de la propiedad, del patrimonio ingestion de ealoriu property income [individuals, corporations] calorie intake ingreso(s) de los valores en eartera ingrao aJustado eonfonne a eonsideradones portfolio income aDlbientales environmentally adjusted income - EAI ingreso(.) no proveniente(s) del trabajo; ingreso(s) no salarial(es) ingrao disereeional unearned income discretionary income ingreso(s) proveniente(.) del trabajo ingrao disponible earned income disposable income ingrao(s) salarial(es) ingrao imponible earned income assessed. income ingresos ingrao interno bnlto - YIB returns~ revenues gross domestic income - GOY ingresos ingrao marainal revenues; returns marginal revenue product - MRP ingresos corrientes ingrao monetario current revenues money income 340 ingrelOl de uplotacl6n, de operaci6n inmovilizaci6n de activo. opemting income, profit warehousing (of financial assets) ingrelOl de uportaci6n inmunidad tributaria export earnings. proceeds immunity from taxation ingrelOl de 101 ladores innovaciones inducidas por el agricultor factor income farmerppull innovations ingrelOl devengadOl, acumuladol innovaciones inducidas por eI usuario accrued income do~ewninnovations ingrelOl fiseales conientes innovaciones inducidas por la investigaci6n current revenues upstrewn innovations; researchppush innovations ingrelOl fiseales, tributarios inseripci6n fiscal revenue perfection (of security); registration [Stock Exchange] ingrelOl monetarios, en efedivo cash income inserito registered ingraol netos [BIRF) net income inspecci6n previa aI embarque pre-shipment inspection ingraol no provenientes de las operacionel nonoperating income inspector administrativo management auditor ingraol por (concepto de) inveniones, derivados de inveniones inspector de bancol investment income bank examiner ingrelOl por intereses instalaci6n interest earnings, income facility ingraos por intereses instalaci6n de senicios en los lotes interest income, earnings plot servicing ingraos publico. instalaci6n sanitaria minima government receipts, revenues wetcore iniciaci6n de la lase ascendente instaladones upturn (economic) physical facilities iniciad6n de fa lase descendente instalaciones comunitarias downturn (economic) social infrastructure; community facilities inidar (sus) actividades instalaciones de elaboraci6n, transporte y strewn, to go on distribuci6n do~ewn plant. facilities inidativa (politica) political entrepreneurship 341 instalaciones fisicu instnamento de aceptacion capital works instrument of acceptance instalaciones y bienel de equipo instrumento de compromiso condicionado plant and equipment qualified instrument of commitment institucion aliliada instrumento rmanciero con caracteristicu affiliate patrimoniales equity-like instrument institucion afiliada que otorga el financiamiento en condiciones concesionarias instrumentos cuasimonetarios soft loan affiliate near cash instruments institucion de credito, crediticia instrumentos derivado. lending agency, institution derivative instruments institucion de transferencia de hipotecas instrumentos juridicos, legales secondary market mortgage institution legal instruments [agreements, etc.] institucion financiera de desarrollo insuficiencia development :finance company - DFC; shortfall development :finance institution - DFI insuficiencia de ingreso. institucion paraeltatal income shortfall parastatal [noun] insuficiencia de las exportaciones institucion principal export shortfall apex bank, institution insuficiencia de Iiquidez instituciones de ahorro contractual liquidity shortage contractual savings institutions insuficiencia de los ingrelOs de exportacion instituciones financieras intemacionales export shortfall international :financial institutions -lFIs insuficiencia de recursos instituciones inversionistas resource(s) gap institutional investors insuficiencia de(l) capital instrucciones capital inadequacy software insumo instrucciones pennanentes input standing instructions, orders insumo de fondos en efectivo instructor cash input [agricultural projects] trainer insumo no monetario instrumento (oficial) noncash input instrument [ICSIO] integracion horizontal horizontal integration 342 integradon progresiva intem lDayoritario forward integration proprietary interest integradOn regresiva intem no finandado backward integration unfunded interest integraeion vertical intem nOlDinal backward-forward integration coupon rate (of a bond) integrador de irregularidades interesadOi bump integrator [highways] stakeholders integrante de la Lista (de Condliadores 0 de interesea (cobrados, pagadOl) Arbitros) interest charges Panel member [ICSID] interesea cobradol anticipad&IDente intensidad constante de utilizadOn de energia unearned interest constant energy intensity interesel devengados, acumuladol intensidad de capital accrued interest - AI capital intensity interesea durante Ia construcdOn intensidad de cultivo interest during construction - IDC cropping intensity intenaz grifica para el uuario intensificacion financiera graphical user interface - GUI financial deepening intermediation intensificacion industrial intermediation industrial deepening intermediadOn dellDereado intere&IDbio de derechOi de eJDision, market intermediation cont&IDinacion emissions trading intermediario de cridito agricola agricultural credit intermediary interC&IDbio de monedas currency swap internaeional cross..oorder; transterritorial intere&IDbio de tipos de intem interest (rate) swap internado internship interes compuesto compound interest interrogatorio examination (of witnesses or experts) [ICSlD] interes conditional, contingente contingent interest interrupcion delserviclo outage [electricity] interes economico directo working interest [oils. minerals] intervalo time lag 343 interveneion inversion en eapital social eorrlente statement net book value; current equity investment; net investment interveneiones dirigidu targeted interventions inversion en msteneias inventory investment introdueeion (agrieultura] accession inversion en forma de prestamo loan investment intrusion de agua salada salt water intrusion inversion en infraestruetura social social overhead investment invasion crowding in inversion exeesiva overinvestment invendon development inversion fon:osa forced investment inventario de reeursos survey of resources inversion insufieiente underinvestment inventario(s) inventory; inventories inversion interna bruta * lIB gross domestic investment - GDI inversion (de eapital) capital investment inversion naeional bruta - INB gross national investment - GNI inversion admisible eligible investment [MlGA] inversion neta net book value; current equity investment; net inversion bruta en eapital fijo investment gross fixed capital expenditure; gross fixed investment inversion orientada a aumentar la efieieneia de la produeeion y redueir los eoatos inversion de tipo totalmente nuevo capital deepening investment greenfield investment inversion que no ba akanzado so pleno inversion direeta distinta de las eontribueiones rendimiento aI eapital social unseasoned investment nonequity direct investment inversiones de eartera inversion en (el) eapital social portfolio equity equity financing. investment inversiones de eartera en eapital social, inversion en activOi fljOi sedonario physical investment portfolio equity investments inversion en eapital fijo inversiones en aeeiones eomunes, haeer capital expenditure; capital outlay; fixed take a straight equity position, to investment 344 inversiones que han a1canzado su madurez, so juego de suma cero, nula lase productiva zero sum game mature investments [IFC] juego de suma negativa inversionistas estrategicol negative sum game strategic investors juego de suma positiva inversionistas que Ie estimen adecuados, plus sum game; positive sum game apropiadol strategic investors juicio hipotecario foreclosure investigacion academica academic research junta de comerclalizacion marketing board investigacion aplicada applied research Junta de Directores Board of Directors [IFC, MIGA] investigacion basica basic research Junta de Gobemadores [Banco, AIF, CFI] Board of Governors investigacion con finel de adaptacion adaptive research jurisdiccion chair, constituency of an Executive Director investigacion inicial, de avanzada [World Bank] pioneering research jurisdiccion investigacion operativa, de operaciones constituent(s) of an Executive Director operational, operations research kilometro lineal investigacion sobre sistemas de produccion line kilometer [surveying] agricola farming systems research - FSR laboreo con abrigo vegetal trashy farming investigation y desarrollo research and development - R&D labranza minima minimum tillage investigacion(es) en las explotaciones agricolas on-farm research - OFR laguna tributaria tax loophole invitacion a la precalificacion invitation to prequalify [contracts] lanzar una emision de bonos float a loan, to jarabe de mm de alto contenido en lructosa high fructose com syrup - HFCS lastre fiscal fiscal drag jubilacion retirement benefits; superannuation laudo award [ICSID] juego de gestion management game leasing finance lease; financial, full payout lease 345 lecho de un rio ley de rendimient08 decrecientes river channel law of diminishing returns lenguaje de programacion de computadoras ley de utili dad marginal decreciente computer language law of diminishing marginal utility leila ley del presupuesto woodfuel appropriation law [US] letra aduanera garantizada ley(es) que autoriza(n) customs duty bill enabling legislation letra de cambio liberacion con autorizacion de convertibilidad bill of exchange convertible release (of 18% currency) [IBRD] letrina de cisterna y sifon liberation incondicional, irrestricta cistern flush latrine blanket release letrina de cubo liberacion restringida (de 108 montos del 18%) bucket latrine restricted release (of 18% currency) letrina de pozo liberalizar pit latrine; pit privy deregulate letrina de pozo anegado liberar aqua privy release. to [capital] letrina de pozo mejorada con ventilacion LIB OR [tipo, tasa de oferta interbancaria de ventilated improved pit (VIP) latrine; VIP latrine Londres) LmOR [London interbank offered rate] letrina de pozo negro vault toilet Iibre acceso a la informacion disclosure of information letrina de sifon pour flush latrine libre comercio free trade levantamiento aeromagnetico aeromagnetic survey~ airmag survey libre de derech08 duty-free levantamiento del mapa escolar, de mapas escolares Iibre determinacion school mapping self-determination levantamiento topogrifico libre intercambio survey free trade ley (de un metal precioso) libro del maestro fineness (of a precious metal) teacher's guide leyaplicable licencia governing law franchise 346 liceneia de tiempo completo licitante que praenta la ofelia mas alta day release; block release highest bidder licencia general de importacion lidtante que praenta la oferta mas baja open general licence - OOL lowest bidder Iicitacion anticipada licuefaccion del carbOn advance procurement action coal liquefaction Iicitacion colusoria Iigero de Arabia Saudita collusive tendering Saudi Arabian light (crude oil); light Arabian crude licitacion intemacionallimitada limited international bidding - LIB lignito brown coal Iicitacion publica competitive bidding; public tender; open tender Iimitacion voluntaria (del comereio) voluntaly restraints (on trade) licitacion publica intemacional international competitive bidding - ICB Iimitacion voluntaria de las aportaciones voluntaly export restraints - VER licitacion publica nacional competitive bidding in accordance with local limitadones por razones de prudencia procedures; local competitive bidding - LCB prudential constraints Iicitacion publica seg'lin procedimientos limite (para la concesion de financiamiento de nacionales, anunciada localmente la AD 0 del Banco) competitive bidding in accordance with local cutoff point (for Bank or IDA financing) procedures; local competitive bidding - LCB limite de aprobaciOn autonoma licitante (que somete la oferta mas alta, mas free limit [IBRD] baja) bidder (highest/lowest) limite de credito credit ceiling; credit limit licitante calificado qualified bidder limite de credito, de prestamos lending limit licitante cuya oferta ha sido aceptada successful bidder limite de redescuento rediscount ceiling licitante favorecido successful bidder limite estatutario de los presum08 statutory lending limit - SLL Iicitante que presenta la oferta clasificada en segundo lugar limite estatutario, legal, regiamentario second lowest bidder statutoI)' ceiling lieitante que presenta la oferta de menor precio limite mhimo de los presumos de aprobacion lowest priced bidder autonoma free limit of loan [DFCs] 347 Umite ofieial para redbir financiamiento de la liquidaci6n por concepto de mantenimiento del AIr valor formal eligibility threshold; eligibility threshold; maintenance ofvalue settlement; settlement of eligibility ceiling maintenance of value Umite practico para redbir rmanciamiento de liquidez laAIr cash :Dow; moneyness operational cut-off; effective cut-off; operational threshold liquidez discrecional discretionary liquidity limites a la facultad para contraer compromisos impuestos por el priDcipio de proporcionalidad liquidez internacional pro rata commitment authority limitations international liquidity limpieza (del medio ambiente) liquidos de gas natural clean-up (environmental) natural gas liquids - NGL linea de capital accionario Lista de Conciliadores, de Arbitros equity line [lFC] Panel of Conciliators, Arbitrators [ICSID] linea de credito lista de efectivos laborales credit line [lFC] return of labor linea de credito a traves de un agente lista de precios agency line; credit line on a agency basis [lFC] price schedule £procurement] linea de credito a traves de un agente Lista de Sustancias T6xicas Prohibidas credit line on an agency basis; agency line [lFC] Restricted Toxic Materials List - RTML linea de credito para productos multiples a lista final de selecci6n traves de agentes short list multiproduct agency credit line [IFC] lista positiva linea de pobreza positive list poverty income threshold; poverty line lIamada a licitaci6n linea de subtransmisi6n, de transmisi6n invitation to bid, to tender secundaria subtransmission line; secondary transmission line llamada de cobro revertido collect call; transfer charge call; reverse charge linea de transmisi6n secundaria, subtransmisi6n call secondary transmission line; subtransmission line llamada de cobro revertido liordizaci6n transfer charge call; collect call; reverse charge fteeze dIying call liquidacl6n de activos llanura inundada, de inundaci6n asset stripping :Doodplain liquidaci6n de impuestos lluvia acida tax bill. demand acid rain 348 lote con servicios malnutrido serviced area, lot, site malnourished lote de prueba mancomunado y solidario test plot joint and several lote sin servicios, no urbanizado Mandato undeveloped plot tenns of reference [e.g. consultants] lotes y servicios manejable sites and services manageable lucba contra (enfermedades, desastres, etc.] manejo de rebaiios control flock management; herd management lucba contra plagas y enfermedades manipulacion de la contabilidad (para pest and disease control aparentar una mejor situacion) window dressing lucba integrada contra las plagas integrated pest management - IPM mano de obra calificada skilled manpower lugar (de un proyecto) site mano de obra no calificada unskilled labor lugar de destino duty station mano de obra ocasional casual labor lutita bituminosa oil shale mano de obra semicalificada semiskilled manpower loz [entre cuerpos] clearance mano de obra; poblacion activa labor force macrogestion macromanagement mantenimiento sustainability madera timber mantenimiento de rutina, rutinario routine maintenance madera en pie timber mantenimiento del valor maintenance of value - MOV (ofIBRD capital) madera redonda roundwood manual del instructor teacher's guide maduracion maturation (of borrowers from IDA to IBRD maquioa de tratamiento de textos loans) word processor malnutricion marcar malnutrition peg out, to [surveying] 349 marco de politicas margen entre los precios policy framework price spread. differential marco institucionai margen entre tipos, tasas de interes institutional framework interest-rate differential marco nonnatwo margen estudar policy framework benchmark spread marco temporal, cronologico margen financiero time frame financial spread margen margen neto de interes sabre el promedio de risk spread activos productivos net interest margin on average earning assets margen (bancario) bruto gross margin; banker's spread; banker's markup; marginado gross earnings margin [banks] underprivileged margen (de precio) en concepto de riesgos masa salarial risk allowance (projects] wage bill margen (entre las cotizaciones aI contado y a materia tennino) subject matter [education] spread (between spot and forward quotations) material (de transporte) margen (p.ej., entre el costo de los emprestitos y equipment el interes sabre los prestamos) spread (e.g. between borrowing cost and lending material complementario rates) balancing equipment margen de competitividad intemacional material de propagacion international competitiveness margin - ICM planting material margen de maniobra material didactico headroom [World Bank] educational material margen de preferencia material didactico, pedagogico margin of preference; preference, preferential instructional aid margin material fungible margen de preferencia a empresas nacionales expendable equipment domestic preference; preference margin; preferential margin; margin of preference material genetico, de mejora [especies (procurement] vegetaies] breeding material margen de utilidad mark-up material no fungible nonexpendable equipment margen de utilidad, de beneficios profit margin 350 material pedagogico buico mecanismo de financiamiento transitorio teacher's kit bridging facility material vegetativo mecanismo de opciones planting material exit mechanism materiales buicos mecanismo de participacion feedstock voice mechanism materiales didacticos mecanismo de precios de intervencion learning materials; teaching aids Trigger Price Mechanism - 1PM [US] materia buicas mecanismo de prestamos a intermediari08 core subjects; basic subjects [education]; feedstock wholesale mechanism; wholesaling matricula mecanismo de reajuste automatico (del tipo, de enrollments la tasa de interes) automatic resetting mechanism [IFC] matriculado registered [vehicle] mecanismo de salida de cata baskete~o~ exitmechanism[(J~1lI1 matm de contabilidad social social accounting matrix - SAM mecanismo de suscripcion de reserva backup (underwriting) facility matm de referencia cruzada, comparacion crosswalk document mecanismos de apoyo backstopping maxima estacional seasonal peak mecanismos de credito, creditici08 credit facilities mayor pago inicial de la pOl"Cion pagada de las suscripciones de capital mecanismos oficiales de control front loading of the subscription [lBRD] command-and-control instrument. regulation mayoria calificada media armonica qualified majority harmonic mean [statistics] mayoria especial mediamovil special majority running average; moving average mecanismo media ponderada facility weighted average mecanismo administrativo medicamento generico administrative machinety generic drug mecanismo complementario medico "descalzo" additional facility [ICSID] barefoot doctor mecanismo de emergencia contingency mechanism [IMFlWorld Bank] 351 medida a que la uiJtenda es concesionaria, mejora de las condidones de la deuda muy favorable debt enhancements degree of concessionaJity mejoramiento medida global de la ayuda - MGA development aggregate measure of support - AMS mejoramiento ambiatal medida provisional environmental enhancement provisional measure [ICSID] mejoramiento de tiems medida temporal, de transidon land improvement stopgap measure mejoramiento de zonas, barrios de tugurios medidas de politica slum upgrading policy-based assistance mejorar las condiciones de la nueva deuda medidas de proteccion social enhance new debt, to safety net; social safety net mejoras a las explotaciones agricolas; medidas a materia de iDversiones reladonadas adecuacion predial con el comereio on-farm developments. improvements trade-related. investment measures - TRIMS memorando de acuerdo medidor de materiales memorandum of understanding quantity surveyor memoranda de evaluaciOn a: poat de un medieria proyecto sharecropping project pedonnance audit memorandum - PP AM medio dreulante memorando de transmision money stock, supply covering memorandum medio de pl1leba memorando juridico evidence [ICSID] memorandum of law medio receptor Memorando sobre Arreglol AdmiDistrativos sink (e.g. of greenhouse gases) Memorandum of Administrative Arrangements [ICSID] mediol facility memorial memorial [ICSID] medios de informacion, difusion, comunicacion mass media menu desplegable pull-down menu mediol empresariala, comereiales business community mereado abierto open market m.edios y arbitrios ways and means mereado activo buoyant market 352 mereado aI eontado merudo especializado, para productos spot market; cash market [foreign exchange] especifieos niche market mereado aldsta bull market mereado enrabunatil, fuera de bolsa over-t;he-(;ounter market; curb market mereado bajista bear market mereado e:ltraterritoriaI offshore market mereado de capitaI(es) capital market mereado favorable a los eompradores buyer's market mereado de eompeteneia, eompetitivo competitive market mereado favorable al vendedor seller's market mere ado de eompradores buyer's market mereado finandero open market mereado de divisas a termino, a plazo forward exchange market mereado gris grey market; gray market mereado de divisas, de eambios foreign exchange market mereado monetario, de dinero money market mereado de dos niveles two-tier market mereado muy activo deep market mereado de eurodivisas Eurocurrency market mereado negro, clandestino black market mereado de futuros futures market mereado secundario secondary market mereado de produetos disponibles, de entrega inmediata mereado sustitutivo spot market [commodities] surrogate market mereado de swaps mereadol bien establecidos swap market mature markets [securities] mereado de trabajo, laboraI mereados emergentes, incipientes labor market emerging markets [securities] mereado de vaIores mereaneias de detaIle securities market less than carload freight - LCL mereado de vendedores mereancias en deposito, en aImaeen de aduanas seller's market bonded goods mereancias en existencia off-the-shelf goods 353 mes-funcionario miembro no fundador staff-month nonoriginal member [MIGA] metodo eontable, de eontabllidad miemb1'08 accounting procedure membership [lFC] metodo de aetualizacion de los flujos de fondos millones de barriles diario. de equivalente en discounted cash flow (DCF) method petrileo - mbdep millions of barreis per day oil equivalent - mbdoe metodo de "eon y sin" "with-and-without" test [projectsJ minerales no combustibles nonfuel minerals metodo de la lista de opciones menu approach minimo hard core [projectsJ metodo de los euadrados de rendimiento crop-cut method ministerio de ejeeucion spending ministry metodo de los efeetos effects method [project appraisal] ministerio de operaciones, sectorial, de ejeeueion metodo de maxima verosimiUtud line ministry, department maximum likelihood method ministerio que efeetUa gastos metodo de mfnimos eoadrados spending ministry least squares method ministerio responsable de una sola industria metodo de roza y quema branch ministry slash-and-bum cultivation ministerios de hacienda y de planificacion metodo dd camino eritieo core ministries, departments critical path method - CPM mision de estudio MIBOK (tipo, tasa de oferta interbanearia de survey mission Madrid) MlBOR [= Madrid Interbank Offered Rate] mision de estudio de oportunidades de inversion investment review mission [ffiRD] microdatos microdata mision de evaluacion eomplementaria post appraisal mission mieroenseilanza microteaching mision de evaluaeion ex post audit mission; evaluation mission mierogestion micromanagement mision de evaluacion ex post evaluation mission; audit mission miembro de pleno dereeho full member mision de evaluaeion inicial, previa, ex ante appraisal mission miembro fundador original member [MIGA] 354 mision de evaluaeion preliminar moddo de iDsumo-producto preappraisal mission input-output model mision de eu.men modelo de las dOl brechas review mission two-gap model mision de eumen extemo modelo de normas de diseiio y mantenimiento external review mission de carreteru Highways Design and Maintenance Model - HDM mision de rmalizaclon (previa ala terminacion [IBRD] de un proyecto) graduation mission [IBRD] moddo de oferta bid form mision de supervision supervision mission modelo de paridad de los tipos de interes sin cobertura mision de supervision general dd proyecto a uncovered interest rate parity model mediados del periodo de ejecuclon midterm project review mission [World Bank] modelo estandar mfnimo modificado revised minimum standard model - RMSM mision en el terreno, de observacion en el terreno moddo emaustivo field mission, assignment ultimate model mision general moddo multisectorial de equilibrio general full mission multisectoral general equilibrium model mision multidisclplinaria moddos de documentos de licitacion composite mission model bid documents mision residente moderaciOn resident mission self-restraint modalidad del comercio moderacion financiera trade pattern financial restraint, stringency modelo modernizacion design rehabilitation modelo agregado, global modemizacion de la estructura industrial aggregate model deepening of the industrial structure modelo computadorizado de equilibrio general modificacion de los vencimientos computable general equilibrium (CGE) model maturity transformation modelo de (presentacion de) ofertas modificacion de producto8 fabricados en serie form of bid, tender custom retrofitting moddo de contrato mOdulos audiovisuales de capacitacion form of contract multimedia training modules [EDI] 355 moneda admisible moneda vincuJada eligible currency tied currency moneda de cuno legal moneda vinculada al oro legal tender gold-pegged currency moneda de intereambio monedas que integran la cesta del BEG trading currency SOR currencies moneda de intervention monetization intervention currency monetization moneda de la garantia monoeultivo guarantee currency monoculture; sole cropping moneda de libre convertibilidad montaje de material fabricado en otro pais freely convertible currency offshore assembly, processing moneda de libre uso monto de la garantta contingente freely usable currency; unrestricted currency standby amount of guarantee moneda de reserva monto de los prestamos bancarios vigentes reserve currency bank exposure moneda de uso restringido monto de los prestamos desembolsados y restricted currency pendientes bank exposure moneda debil soft currency monto del 1% 2% currency [IBRD] moneda distinta del monto del 18% oon-18% currency monto dd contrato contract price moneda extranjera foreign currency, exchange monto global aggregate; lump sum price moneda fronteriza border currency (unit) monto global actuarial actuarial lump sum moneda fuerte hard currency; strong currency monto mUbno de garantia maximum amount of guarantee moneda importante major currency monto neto de los giros outstanding drawings [IMF] moneda national domestic currency; local currency monto pagado de las suscripciones de capital (BIRF] moneda "vehiculo" paid-in capital subscriptions [IBRD] vehicle currency 356 monto(s) del 18% (pagado(s) por un miembro movimiento descendente en so moneda) downswing 18% currency [IBRD maintenance of value] movimientos de capital en condiciones no montos del 18% en prestamo concesionarias 18% currency out on loan [IBRD maintenance of nonconcessional, nonconcessioruuy flows value] muellaje montos retenid08 en prantfa dockage; wharfage; wharfage charges retention money muestra aleatoria, al azar moratoria random sample tax deferral muestra autoponderada mortalidad de nii'los menores de un aDo self-weighting sample infant mortality muestra representativa mortalidad en la niila [uno a coatro aios de cross section sample edad] child mortality muestreo por conglomerados, grupos cluster sampling mortalidad infantil infant mortality multa liquidated damages modn riot [MIGA] multicopiado processed motivaci6n (politic a) political entrepreneurship multiplicador del credito credit multiplier movilizaci6n harnessing multipropiedad time sharing [computers1 movilizar (fondos, etc.) raise, to (funds, etc.) necesidades de financiamiento del sector publico movimiento public sector borrowing requirement - PSBR turnover necesidades netas de efectivo movimiento ascendente net cash requirements - NCR upswing necesidades sociales movimiento de capital social wants capital flow; capital movement negociaci6n de bloques de acciones movimiento de estudiantes, a1umnos block trading student flow negociaci6n en pie de igualdad, entre iguales movimiento del inventario, de las existentias arm's length negotiation inventory turnover 357 negodadones araneelarias, sobre aranceles no contabilizado tariff negotiations, round unaccounted. [e.g. water, electricity] negoc:iaciones COJDerdales multilaterales no disponible - n.d. multilateral trade negotiations - MTN not available - n.a. negociadones por via eIpedita no especificado en otra parte - n.e.p. fast-track procedures not elsewhere specified. - n.e.s. Divel critico de COIlBUlDO - NCC no exportable 0 importable critical consumption level - CCL nontradable [noun1 Divel de aJfabetizacion no garantizado literacy level unsecured. (note, loan, etc.) Divel de endeudamiento reiativo al capital no babilitado leverage (ratio) [US]; gearing (ratio) [UK] ineligible Divel de ingreso no indieado separadamente - n.La. enttylevel not included. elsewhere - nj.e. Divel de ingreso(s) no redimible antes del vencimiento income bracket noncallable [bond] Divel de reemplazo, de renovacion no rescatable antes del vencimiento replacement level [population] noncallable [bond] Divel de vida no se aplica - n.a. standard of living not applicable - n.a. Divel estable de premunos nombramiento de plazo fijo steady state lending fixed. term appointment Divel freineo nombramiento ordinario, permanente groundwater table regular appointment [IBRD] Divel impositivo nombre generico tax bracket nonproprietary name Divel sostenible de prestamol nomina sustainable level of lending - SLL payroll Divelacion norma (del Manual de Personal) :flattening out; leveling off stafIrule Diveles de supervision norma de ofena firme supervisory grades firm bid rule Diveles mediol normas de disciplina y control supervisory grades prudential supervision and regulation 358 nonnas de diseilo naero de animales al final del periodo design standards contable closing stock [livestock] nonnas de prudente discredon prudent man rule naero de estudiantes que pasan ,or el sistema escolar [educaclon] nonnas generales throughput guidelines nutrientes nonnativa nutrients policy framework obUgacion contingente nota sobre politica economica contingent obligation economic policy note [ED!] obUgacion tributaria nota teenica tax liability technical note obligaclones notificacion de desembolso liabilities disbursement letter obligaeiones a la vista notificacion de impuestos sight liabilities tax bin. demand obligaciones en, ,or concepto de depositos notificacion de registro deposit liabilities notice of registration obligaclones relaclonadas eon el serviclo de la nuclearizacion deuda nuclearization [education] debt service requirements nucleo obligaclones sin rmanclamiento previsto bard core [projects] unfunded liabilities nucleo habitaclonal obragruesa dwelling core shell (of a building); structural work nueva cireunstancia obras civiles development civil works; public works nueva situaclOn observaeion development monitoring numerario observacion del desempeilo, de los resultados numeraire performance monitoring numerario del fondo comu de monedas obstaculo a Ia salida del mereado pool unit exit barrier nilmero de alumnos matriculados obtencion de cotizaciones enrollments prudent shopping 359 obteneion de eDlPristitoi gipntelco8 oferta pardal jumbo borrowing(s) component bidding obtener (fondos, etc.) oferta publiea raise, to (funds, etc.) borrowing from the public obtener df.... neW oferta publiea net out public borrowing. offering obtener un eDlPristito ofelia publiea de eompra - OPT float a loan, to takeover bid obtener un prestamo ofieial de desembolsos secure a loan, to disbursement officer octanaje ofieial de extension de zona - OEZ motor octane number - MON zone extension officer - ZEO [agricultural extension] oeupante sin titulo, Hegal, preeario squatter ofieial de extension, de divulgadon agrioola extension officer oeupar terrenos Hegalmente, sin tener dereeho squat, to ofidal del p..estamo, de p..estamos loan officer oferta tender ofieial del proyedo, de proyedos project officer ofelia a1ternativa alternative bid [procurement] ofieializadon de la deuda officia1ization (of debt) oferta de aedones (eon dereeho preferendal de suseripeion) ofieina de eentralizadon de tramites rights issue, offering one-stop agency, shop oferta de eapital ofieina de impuestos capital supply tax office oferta evaluada eomo la mas baja ofieina del representante residente lowest evaluated bid resident office oferta exeesiva ofieina exterior, fuera de la sede oversupply field office ofelia fuera de plazo, tardfa ofieinas en a1quiler temporal late bid chum :factor oferta monetaria ofieinas provisionales money stock. supply swing space ofelia no favoreeida (eon la adjudieadon) un a of tiea unsuccessful bid office automation 360 olilOPolio C01U80rio operacion de laranda de emision collusive oligopoly underwriting commitment [IFC] OlilOPolio C01U80riO opHcito operacion deficitaria (explicitly) collusive oligopoly money-losing operation oncocercosis operaciones "en reserva" onchocerciasis; river blindness reserve operations [lending program] oncocercosis operaciones de cobertura, de proteccion river blindness; onchocerciasis cambiaria hedging ONG aut6ctona indigenous NGO operaciones de pase [Argentina] swap opcion trade-off operadones invisibles invisible transactions opdon [proyectos] alternative [projects} operador(a) de tratamiento de tenos word processor opcion a participar en el capital social equity feature [IFC) opinion juridica legal opinion opcion de compra call option optimization de los recUr80S value for money opcion de compra de acciones stock option optimo de Pareto Pareto optimum opcion de venta put option orador principal keynote speaker; keynoter operacion venture [IFC] orden de compra trading ticket [capital :m.arket] operacion bursatil stock exchange transaction orden de compra general blanket purchase order - BPO operacion concertada por, con un club bancario, consorcio orden de proceder club deal notice to proceed [contracts] operacion conjunta orden de venta joint venture trading ticket [capital market] operacion de compromi80 de compra ordenacion standby commitment [IFC] control operacion de demostracion demonstration activity 361 ordenadon de cuencas hidrogrMicas, de organismo de ejecudon vertiente. executing agency [UNDP]; implementing agency watershed management organismo de energia afiUado al Baneo ordenadon de las aguas energy affiliate water management organismo del proyedo ordenaclon de tierras lridu project agency dryland(s) management organismo director, prindpal ordenacion de tierras de pastoreo lead agency range management organismo espedalizado ordenacion forettal sostenible specialized agency [UN] sustainable forestIy organismo paraestatal ordenadon monocfdiea parastatal [noun] monocyclic management organismo prindpal ordenaeion poliddka parent body polycyclic management organismo regulador ordenadon salarial regulatory agency wage control organismo responsable del proyedo ordinaria, (partida) project agency above the line (item) organismo IOUcitante organismo &filiado de energfa Requesting Organization [ICSID] energy afiU.iate organismos intemaeionales de produetos organismo agente de cobranza bAlkos billing agent international commodity bodies - lCBs Organismo Anfitrion organization de base, eomunitaria Host Organization [lCSID] grass roots organization organismo de centralization de trAmites organization de meditina preventiva one-stop agency, shop health maintenance organization - HMO organismo de duificadon de valores organizacion gremial, patronal rating agency trade organization organismo de eontrapartida organization no gubemamental - ONG counterpart agency nongovernmental organization - NGO organismo de erMito, ereditido organization privada de voluntarios lending agency, institution private voluntary organization - PVO organismo de derecbo publico organizadon sin fines de luero statutory body nonprofit organization; not-for-profit organization 362 organ_iones internadonales de produdol pagare del Tesoro bUieol Treasury note international commodity organizations - leOs pagare del Tesoro a corto plazo 6rgano dedsorio, de dedsi6n Treaswy bill decision-making body pagare descontado 6rgano prindpal discount note parent body pagare no negociable orlentaci6n nonnegotiable note student placement pagare participatorio orientad6n profesional income note vocational guidance pagare que devenga intereses orientado bacia eI interior interest bearing note inward-looking; inward-oriented [country; policy] pagare sin intereses orientado bacia )a exportad6n noninterest bearing note export-oriented pagares con pago del principal vinculado a los orientar a gmpos espedficos tipos de cambio de diversas monedas 1arget, to principal exchange rate linked securities notes otru corrienta ofidales pago other official flows - OOF consideration [legal, economic] otros flujos ofidales pago a cuenta other official flows - OOF progress payment 6xido nitroso pago al contado nitrous oxide cash payment 6:ddos de nitr6geno pago anticipado nitrogen oxides (NOJ advance payment amno estratosferico pago de cesantia stratospheric ozone severance pay pagadero a la vista, contra presentad6n pago de contrapartida payable on demand matching payment pagare pago en efectivo note [capital markets]; pronllssoty note cash payment pagare a la vista pago en el dia demand note intra-day settlement papre con interes variable, ftotante pago en espede floating rate note payment-in-kind - PIK 363 pago final, global pais de gran crecimiento economico balloon payment high performing economy pago parcial pais de ingreso bajo progress payment low income country pagos anticlpados de exportaciones, por pais de ingreso mediano concepto de exportaciones middle income country advanced export payments pais de ingre80 mediano bajo pagos de transferencla lower middle income country - LMIC transfer payments pais de mediana capacidad de ab80rcion pagos en concepto de ingresos de los factores medium absorber [oil exporter] factor income payments pais de nivel intermedio pagos en mora second tier country payment arrears pais de origen pagos internacionales corrientes home country [MIGA] current international payments pais de origen calificado pagos parciales por concepto de reintegro eligible source country recall installments [MOY] pais de produccion primaria pais agobiado por la deuda primary producing country debt distressed country pais de reciente industrializacion, en via.~ de pais beneficiario, anfitrion industrializacion host country [MIGA] newly industrializing country - NIC pais con economia de planificacion centralizada pais declarante, informante centrally planned economy (country) reporting country pais con superavit de capital pais deficitario capital-surplus country deficit country pais de baja capacidad de ab80rcion pais donante low absorber [country] donor country pais de desarrollo agroindustrial reciente pais en desarrollo newly agro-industrialized economy - NAB less developed country - LDC pais de elevada ab80rcion, de gran capacidad de pais en desarrollo no petrolero ab80rcion nonoil developing country high absorber [oil exporter] pais exportador de productos primarios pais de franja Jitoral estrecha primary exporting country coastal strip country pais habilitado para recibir creditos de la AIF IDA-eligible country 364 pais industrial eon economfa de Dlen:ado pais receptor [inversiones] industrial market economy host countly [MIGA] pais insular en desarrollo pais receptor, beneficiario developing island countly; island developing recipient countly countly pais receptor elegible pais medianamente industrializado eligible host counUy [MIGA] halfway countly pais recientemente industrializado pais menos desarrollado - PMD newly industrialized countly - NIC less developed countly • !DC pais(es) representado(s) por un Director pais muy endeudado, sumamente endeudado, Ejecutivo fuertemente endeudado chair, constituency of an Executive Director highly indebted countly [World Bank] pais no miembro y no de<:larante pais(es) representado(s) por un Director nonreporting nonmember countly Ejecutivo constituent(s) of an Executive Director pais orientado hacia eI exterior outward-looking, outward-oriented countly pais sin Utoral, mediterraneo landlocked countly pais pan:ialmente industrializado halfway countly pais solidtante client countly pais prestatarlo de la AIF IDA recipient pais superavitario capital-surplus countly pais que no influye en los precios intemacionales pais superavitarlo price taker surplus countly pais que pennite Ja contaminacion sin paises ACP (Mrica, el Caribe y el Pacifico) restricciones ACP countries [Lome Convention] pollution haven paises asociados, que mantienen relaciones pais que puede obtener finandamiento comen:iales combinado (del BIRF y la AIF) partner countries blend countly paises de comercio estatal pais que puede recibir creditos, financiamiento state-trading countries delaAIF IDA-eligible countly paises de ingreso alto high income countries pais que recibio f'manciamiento para fines de ajuste antes de 1'86 paises de la Categoria I early intensive adjustment lending (EIAL) countly Category I countries [IBRD] pais que recurre a los servicios del Banco paises de la Categoria n client countly Category II countries [IBRD] 365 paises de la Parte I paquete financiero Part I countries [lBRDJ financial package palses de la Parte n paraiso tributario Part n countries [lBRDJ tax haven paises de produccion primaria parametro de cambio commodity producing countries shift parameter paises del areo del Pacifico parametros de planificacion presupuestaria Pacific Rim countries Budget Planning Framework [lBRD] paises excluidos del regimen de contabiIidad en pareela de demostracion valores devengados demonstration plot countries in nonaccrual status parcela de prueba paises inmediatamente afeetados test plot most immediately impacted (MIl) countries pareela testigo, de control paises mas gravemente afectados controlled plot; control plot most seriously affected countries· MSA parclalmente montado paises (en desarrollo) menos adelantados • PMA partly knocked down - PKD least developed countries· LLDCs paridad paises que mantienen relaciones comerciales par value trading partners paridad del poder adquisitivo paises que reciben financiamiento en purchasing power parity - PPP condiciones predominantemente gravosas hard-blend countries paridad mom crawling peg [rate of exchange] paises que se encuentran "en el umbral" threshold countries parque fleet [transportation] paises que 11610 reciben financiamiento de la AD' pure IDA countries parque industrial industrial estate [UK], park [USA] paises que tienen acceso al mereado rmanciero market-eligible countries parte (en el procedimiento 0 en la diferencia) party (to proceeding or to the dispute) [ICSID] paises representado(s) ,or un Director Ejecutivo; jurisdiccion partes interesadas constituency, chair of an Executive Director stakeholders papel comercial participacion de fundador commercial bills; commercial paper founder's share papeles de comercio participacion de la mujer en el proceso de commercial bills; commercial paper desarrollo women in development· WID 366 participacion del concesionario participacion sin posibilidad de recurso working interest [oils, minerals] nonrecourse participation participacion en (el) capital social participante en un curso 0 program a de equity financing, investment capacitacion trainee participacion en cada uno de los vencimientos (de un prestamo) participar en el capital social strip participation share capital, to supply participacion en el capital social particulas equity ownership particulate matter - PM participacion en el financiamiento de los costos, particulas en suspension gastos [beneficiarios] suspended particulate matter - SPM burden sharing partida participacion en inversiones inmobiliarias item [budget] real estate equity partida (presupuestaria) participacion en la carga line item [budget] burden sharing partida arancelaria participacion en las ganancias, utilidades netas tariff item; tariff position net profits interest [oil] partida compensatoria participacion en las utilidades balancing item, entry profit sharing partida de memorando participacion en los costos memorandum entry, item; memo item cost sharing partida de reconciliacion participacion en los impuestos reconciliation item [accounting] tax sharing partida de transaccion no moneta ria participacion en los ingresos (fisc ales) noncash item revenue sharing partida extraordinaria participacion en una inversion below the line (item) exposure partida informativa participacion mayoritaria memorandum entry, item; memo item controlling interest partida ordinaria participacion pasiva above the line (item) carried interest (petroleum industry] partida pro memoria participacion proporcional memorandum entry, item; memo item funding pro rata partidas que se compensan mutuamente mutually offsetting entries 367 pasantia patrimonio internship stockholders' equity; shareholders' equity; owners' equity; equity; net worth pasar de las condieiones de asistencla de la AD a las del Banco patrimonio (neto) graduate, to [Bank. IDA] equity pasar eI punto mU hajo patrimonio natural de la humanidad bottom out (of a rea:ssion) global commons pasivo patrimonio neto liabilities stockholders' equity; shareholders' equity; owners' equity; equity; net worth pasivo acumulado accrued liabilities patrocinador sponsor pasivo contingente contingent liability pauta cronol6gica timepaUem pasivo corriente current liabilities pautas generales guidelines pasivo exigihle a corto plam current liabilities penalidades liquidated damages pasivos a largo plam long~teIDlliabilities pendiente (de una curva) steepness (of a curve) pasivos monetarios currency liabilities pensi6n retirement benefits pasivos transitorios temporary liabilities pe6n caminero lengthman [highway maintenance] pasivos varios sundry liabilities pequena empresa small·scale enterprise ~ SSE paso gradual a tIIas impositivas mU altas bracket creep, progression [taxation] pequefta explotaei6n agricola smallholding pastor n6mada pastoralist pequefta industria small-scale industIy - SSI pastoreo excesivo overgrazing pequefta y mediana empresa - PYME small and medium enterprises - SME; small- and patio de maniohra, de clasificacl6n medium-scale enterprises - SMSE marshalling yard pequefta y mediana industria small and medium industries - SMI; small- and medium-scale industries - SMSI 368 pequeila zona, pequeilo proyecto de riego perforaclon de explotacion small-scale irrigation development drilling pequeilo agricultor perforacion es:ploratoria smallholder wildcat (drilling) ,erdida perforac:ion submarina, mar adentro loss in weight; waste [commerce] offshore drilling ,erdida pericia waste; loss in weight [commerce] expertise perdida cambiaria periodo contable exchange discount accounting period ,erdida de capital periodo de cumplimiento de obligaciones capital loss performance period perdidas de explotacion, de operacion periodo de eliminacion gradual de los prestamos operating losses del Banco phase out period [IBRD] perdidas de peso muerto deadweight (losses) periodo de gestac:ion de un proyecto lead time of a project perdido unaccounted [e.g. water, electricity] periodo de gracia grace period perfeccionamiento delivery (of a contract); upgrading of skills perfodo de 5esiones session [ICSID] perfeccionamiento de la funcion de gestion management development periodo es:ceptuado excepted period perfeccionarniento de 101 recursos human08 human resource development periodo previo a la exclusion del regimen de eontabilidad en valores devengados perfeccionamiento de recursos humanol, de la nonaccrual trigger point, date manodeobra manpower development periodo vegetativo, de erecimiento growing period perfeccionamiento del personal staff development peritaje expert appraisal perfeccionamiento del personal directivo management development permanencia (en el cargo) tenure [education] perfiles ocupacionales normalizadol standardized occupational streams permiso negociable de eontarninacion tradable emissions permit perforacion drilling 369 persona a cargo perturbaciones del medio ambiente dependent environmental stress persona juridica pesca corporate body, institution; body corporate; legal capture fishery; harvest fishery entity, person pesca con luz (artificial), aI encandilado persona que reclbe adiestramiento lamplight fishing; fishing by lamplight trainee pesca con luz artificial, aI encandilado persona responsable de adoptar decisiones fishing by lamplight; lamplight fishing decision-maker pesca con trasmallos personal trammel fishing staff pesca de altura personal contratado a plazo fijo deep sea fishing fixed term staff pesca de arrastre personal de contrapartida trawl fishing counterpart staff pesca de deriva personal de las oficinas exteriores, fuera de la drift fishing sede field staff pesca (con redes) de tiro seine fishing personal de Divel profesional higher level staff pesca en agoas interiores inland fisheries, fishing personal de supervision supervisory staff pesca fantasm a ghost fishing personal ejecutivo, de operaciones line staff pesca por enmalle gill fishing personal en el terreno field staff peso muerto deadweight (losses) personal no permanente nonregular staff - NRS petr61eo combustible pesado heavy fuel oil personal permanente regular staff petr6leo crudo liviano Saudi Arabian light (crude oil); light Arabian personalidad juridica crude legal existence; juridical personality petroleo crudo liviano, ligero de Arabia Saudita personas que viven en la pobreza absoluta light Arabian crude; Saudi Arabian light crude absolute poor petroleo para calefaccion heating oil 370 pet..oleo pesado plan de existenci.. regulador.. heavy oil buffer stock scheme pet..oleo residual, combustible plan de financiamiento fuel oil financing plan PIB comercial plan de jubilaci6n anticipada commercial. commercialized GOP early retirement scheme PIB monetizado plan de jubilaci6n minima monetized GOP top-up scheme; minimum pension guarantee PIB sectorial plan de ordenaci6n ambiental sector GOP mitigation plan; environmental management plan; action plan pila de combustible fuel cell plan de pagos payment schedule piquetear peg out, to [surveying] plan de pensiones sep, conforme a las necesidades, con comprobaci6n previa de piscicultun medios de vida culture fishery means-tested pension plan plan contractual plan de protecci6n ambiental program contract environmental action plan - EAP plan de acceso anticipado a I.. aportaciones plan de seguridad social advance contribution scheme (for IDA-lO) social security scheme plan de acci6n nadonal reladonado con la plan de seguro global funci6n de la mujer en eI proceso de desarrollo "wrap-up" insurance arrangement country WID action plan plan de sucesi6n para cargos de direcci6n plan de actividades (empresariales) management succession planning business plan plan de utilizaci6n de tierras plan de amortizaci6n land use plan amortization schedule; repayment schedule plan de vivienda por el sistema de esfueno plan de cuentas propio y ayuda mutua chart of accounts self-help housing scheme plan de distribuci6n plan financiero layout plan finance plan; financial plan plan de estudiOi plan maestro curriculum master plan plan de estudios como plan modelo de presupuesto de fmca core curriculum pattern farm plan 371 plan naeional de protecdon ambiental- PNPA planifieacion presupuestaria nominal national environmental action plan - NEAP (full cost) nominal budget planning, budgeting plan para situaciona im.previstu planifieaclon y evaluacion del desempeilo (del contingency plan funeionario) Perfonnance Planning and Review - PPR [ffiRD] plan presu.puestario agreed budget plan; contract plan planificador de obraa, de instalaclones physical planner plan preventivo mitigation plan; environmental management plan; planifieador del desarroUo action plan development planner plan renovable planUla de dlculo electronica rolling plan spreadsheet planifieacion de recUI'SOl humanos, de la mano plano de obra design manpower planning plano del emplazamiento, dellugar planifieacion de tieuaa site plan land use planning pianos definitivos planificaclon del avanee profesional final design career development pIanos generales (de un proyecto) planifieacion del desarroUo layout development planning pIanos preliminares plaDifieaciOn del espacio fisico preliminary design, engineering physical planning pIanos teenicos detaUados planifieaeion detaUada detailed design, engineering blueprint planning planta a1imentaria planifieacion familiar, de Ia fllDilia food plant family planning planta de elaboracion secundaria [petroleo] planifieacion global, agreptiva downstream plant, facilities aggregative planning planta de semillero, vivero planifieacion global, integral seedling comprehensive pJanning planta de simiente planificaeion obligatoria, preceptiva seed plant mandatory pJanning planta de tratamiento de aguaa negraa, servidaa planificacion presu.puestaria en valores de caja, sewage (treatment) plant en efectivo cash-based budget pJanning planta eleariea diesel diesel (fired) power plant 372 planta para leIIliIIa poblacion activa seed plant working population planta texti.l poblacion en edad de trabajar fiber crop wor~ngagepopWation planta totalmente nueva poblaciones indigenas greenfield plant; grass root plant tribal peoples plantacion cortavientos poder (juridico) windbreak proxy plantadon de arboles poder calorifico afforestation heat value plantadon de bosques comunitarios poder calorifico bruto - PCB social forestry gross heating value - GHV; gross calorific value - GCV; higher heating value plantadon en franjas strip planting poder calorifico neto - PCN net heating value - NHV; net calorific value - plantadon nudeo NCV; lower heating value nucleus estate poligono industrial plantOn (de arboles) industrial estate [UK], park [USA] seedling polftica plaintula policy-based assistance seedling politica cambiaria plataforma de perforadon petrolera [mar.] exchange rate policy oil (drilling) rig. platform politica comen::ial restrictiva plazo restrictive trade policy time limit [ICSID] politica coyuntural plazo de amortizacion, de reembolso business cycle policy payback period politica crediticia restrictiva plazo de recuperadon (de inversiones) tight credit policy payback period politica de austeridad plazo de vencimiento restraint policy maturity (of a loan, bond, etc.) politica de avance intermitente pliego de condiciones de la licitacion stop-go, stop and go policy bidding conditions politica de contraccion plusvalia contractioruuy policy capital gain 373 politica de empobrecer al vecino porcentaje de prestamos e::s:c1uidos del regimen beggar-My-neighbor policy de contabllidad en valores devenpdos nonaccrual rate [World Bank] politica de predos pricing policy porcentaje de reserva minima oblilatoria minimum cash requirement politica de reactivacion pump priming policy [economics] porcentaje estandar para el establ«imiento de reservas para perdidas politica de restriCtion crediticia benchmark provisioning rate tight credit policy porcentaje larantizado politica de servicios aratuitos guaranteed percentage zero fee policy porcion politica e::s:pansionista slice [contracts] expansionary policy porcion de cada uno de los vencimientos de un politica favorable a la «onomia de la oferta prestamo supply side politics strip of maturities politica fiscal poscalificacion de licitantes fiscal policy postqualification ofbidders politica suboptima posibllidad de capacitacion second-best policy trainability [EDI-World Bank] politica tarifaria posibilidad de colocacion pricing policy saleability [securities] politicas posibilidad de comercializacion, de colocacion policy-based assistance marketability politicas de reasignacion de recursos posibilidad de extraccion switching policies subtractability p61iza de seguro global posibilidad de repeticion financiera wrap-up insurance policy financial replicability ponderacion distributiva posibilidad de repeticion, de duplicacion distributional weight replicability poner en servicio posicion de balanza de palOS commission, to balance of payments position por administracion posicion de capital force account. by/on [US]; direct labour [UK]; capital position direct work; departmental forces posicion de reserva(s) por enama de la enota reserve position above quota 374 posicion de riesgo precio administrado, controlado, impuesto risk posture administered. price potenciacion precio al consumidor empowerment consumer price potencial de agotamiento de la capa de ozono - precio al contado, para entrega inmediata PAO spot price ozone-depleting potential - ODP precio al desembarque potencial de recalentamiento atmosferico, de la landed price Tierra global warming potential - GWP precio al produdor producer price pozo de ozono ozone sink precio c.LfJpuerto de entrada cost, insurance and freight (elF) port of pozo entubado entrylborder point price tubewell precio contractual pozo exploratorio contract price wildcat well precio corriente, vigente pradica optima going price best practice precio de compra, de adquisicion practica(s) historical cost internship precio de compuerta [avicultura] pradicas contables lock gate price; sluice price; sluice gate price accounting practices precio de costo practicas de avalllo aduanero, de aduana cost price customs valuation (practices) predo de cuenta preambulo de un convenio accounting price; shadow price preamble to an agreement; recital of an agreement precio de eficiencia preambulo de un convenio economic price; efficiency price recital of an agreement~ preamble to an agreement precio de incentivo precalificacion de licitantes incentive price prequalification of bidders precio de intervenci6n precedente establecido por Brasil y Yugoslavia intervention price Brazil-Yugoslavia Precedents predo de lista, cotizado, de cotizaci6n precio a nivel de la aplotaci6n agricola posted price [oil] farm gate price precio de los fadores factor price 375 predo de mereado, de plena competenda precio en Ja boca, en Ja cabeza del pozo arm's length price wellhead price predo de necesidad precio f.o.b. puerto de embarque distress price free on board (FOB) port of shipment price precio de ofena precio global bid price [contract] lump sum price precio de paridad precio indicativo parity price guiding price; target price precio de referenda predo minimo benchmark price; marker price [oil] floor price precio de referenda para fines tributarios precio neto [petrileo] payout price tax reference price [oil] precio nominal, simbOllco precio de resen'a nominal price reservation price (oflabar) precio paritario de exportation predo de sosten, de apoyo, de sustentadon export parity price support price precio paritario de im,onacion predo de transferenda import parity price transfer price precio por pie precio de venta stumpage price selling rate predo puesto en fabrica precio desleal price to factory predatory price precio recibido ,or eI productor predo economico producer price economic price; efficiency price precio social precio efectivo, de realizadon social price realized price [oil1 predo sombra precio en (la) frontera shadow price border price predo tope, mbimo precio en almacen ceiling price ofl'-the-she1f price precio umbral predo en el exterior threshold price foreign price precio unitario precio en fabrica unit cost ex factory price; price ex factory; factory gate price 376 precio vendedor presa de almacenamiento selling rate storage dam precios constantes presa de derivadon constant prices diversion dam precios corrientes presa de terraplin current prices earthfill dam predos de equilibrio del mercado prescindencia market-clearing prices redundancy [staffing] precios en plaza (lista de) presentacion de ofertas posted values bid submission; delivery of bids precipitador presentadon de reclamadones precipitator; dust collector; dust separator filing of claims [MIGA] predisposidon presentadones [demandas, alegatos, etc.] bias [economy; statistics] pleadings [ICSID] preferenda presentar y ofrecer pruebas margin of preference; preference, preferential marshal evidence, to [ICSID] margin presidente en fundones preferenda por los amigos serving chairman cronyism presion de los salarios preferencia por los productos nacionales wage pressure domestic preference; preference margin; preferential margin; margin of preference presion fiscal [procurement] tax burden prefinanciamiento prestacion de cesantia prefinancing severance pay prelectora prestadones pre-reading benefits [social security] preparadon prestadones de (la) seguridad social development social security benefits preparadon de un proyecto, de proyectos prestadones sociales project design; project preparation social benefits preparacion del terreno prestaciones suplementarias site development fringe benefits preparacion tknica prestamilta en ultima instancia technical background lender of last resort 377 prestamista subordinado pristamo con riesgo de posibles perdidas subordinate lender jeopardy loan prestamo "A" prestamo con vencimiento elegido a la suerte "A" loan serial loan prestamo a corto plam para salvar una prestamo concedido por un club bancario, por dificultad temporal un consorcio canyover loan club loan prestamo a la vista prestamo contingente call loan standby loan prestamo a mediano 0 largo plam prestamo convertible en acciones de capital term loan [CFl) equity feature [!FC] prestamo a un intermediario rmanciero financial intermediary loan - FIL prestamo cuyo vencimiento se ba anticipado prematured loan prestamo activo active loan prestamo de amortizaci6n negativa negative amortization loan prestamo (para fines de) ajuste de la poHtica de comercio exterior prestamo de aprobacion autonoma trade adjustment loan free-limit loan [DFCs] prestamo amortizable en su mayor parte al prestamo de calidad vencimiento quality loan [IBRD] balloon loan prestamo de contrapartida con tasa fija prestamo anterior al sistema del rondo comun fixed rate matched funding loan de monedas prepoolloan prestamo de emergencia bailout loan prestamo "B" "Bn loan prestamo de emergencia para recuperacion emergency recovery loan - ERL prestamo "balloon" balloon loan prestamo de rapido desembolso quick disbursing (loan); fast disbursing (loan) prestamo bancario de primera categoria top-rated bank loan prestamo de suma global lump sum loan prestamo cofinanciado coloan prestamo de un consorcio, concedido ,or un consorcio prestamo complementario syndicated loan repeater loan prestamo de vencimiento escalonado prestamo con interes tope serial loan cap 378 prestamo en condiciones concesionarias, blando, preltamo para ajulte de la(s) politica(s) liberal indultrial y comerdal soft loan industrial and trade policy adjustment loan - ITPAL [World Bank] prestamo en condiciones ordinarias, de mereado hard loan preltamo para ajuste del sector agricola agricultural sector adjustment loan - ASAL [World prestamo (que lie halla) en dificnltades Bank] distressed loan preltamo para ajuste del sector exportador, de preltamo en espede exportacion commodity loan export adjustment loan - EAL preltamo en forma de participacion en el prestamo para (fines de) ajuste sectorial capital sector adjustment loan - SECAL; SAD equity loan preltamo para asiltencia teenica pre.tamo en pirimide, en caseada technical assistance loan - TAL apex loan prestamo para capital de trabajo prestamo en tramitadon working capital loan pipeline loan prestamo para cubrir posibles RCesos de coltos pre.tamo en una sola moneda overage loan single currency loans, [IBRD] preltamo para importaciones con fines de preltamo en valores rehabiUtacion security lending rehabilitation import loan prestamo garantizado pristamo para inversi6n y mantenimiento secured loan sectoriales sector investment and maintenance loan - S1M prestamo inactivo inactive loan preltamo para programas prograInloan,lending prestamo incluido en elsiltema de fondo comun demonedas preltamo para programas de un pais, de paises pooled loan country loan [mRD] pristamo independiente, aut6nomo preltamo para proyecto de inversion free-standing loan investment loan pre.tamo indizado, reajustado IlegUn un indice preltamo para radonalizaci6n de empresas indexed, index-linked, index-tied loan publicas public enterprise rationalization loan - PERL pristamo no redituable, improductivo nonperforming loan; nonaccruing loan preltamo para reconltnaccion de emeraencia emergency reconstruction loan - ERL prestamo para recuperacion economica economic recoveIY loan - ERL [World Bank] 379 prestamo para reforma de empresas publicas prestamo transitorio, de transicion, "puente" public enterprise reform loan - PERL bridge, bridging loan prestamo para rehabilitacion de empresas prestamos (a un pais) desembolsados y publicas pendientes public enterprise rehabilitation loan - PERL country exposure [IBRD] prestamo para un proyecto, para proyectos prestamos en apoyo de reformas de politic as project loan, lending policy-based lending; policy loans [IBRD] prestamo para una inversion especifica prestamos en condiciones comerciales specific investment loan - SIL [ffiRD] commercial lending prestamo participatorio con obligacion prestamos en moneda unica contingente de pago de intereses single currency loans, [ffiRD] deferrable participating loan prestamos hipotecarios prenamo poco rentable, de escaso rendimiento mortgage financing badly performing loan prestamos no voluntarios prestamo por etapas involuntary lending time-slice loan prestamos obtenidos de intermediarios prestamo prioritario financieros senior debt, loan intermed.iativeborro~ng prestamo problematico prestamos para (fines de) ajuste estructural problem loan [!FC] structural adjustment lending - SAL prestamo que entraDa un riesgo soberano prestamos pendientes sovereign risk loan exposure; outstanding loans prestamo representado por obligaciones prestamos voluntarios convertibles [CFI] voluntary lending; spontaneous lending convertible debenture loan investment [!FC] prestar de nuevo (el importe de un prestamo) prestamo sectorial, para un sector onlend, to sector loan prestar de nuevo (el importe de un prestamo) prestamo sin finalidad especifica relend, to nonpurpose loan prestatario activo prestamo sOlido, seguro active borrower sound loan prestatario inactivo prestamo subordinado inactive borrower, nonactive borrower subordinated loan prestatario preferencial, preferente, de primera prestamo subsidiario clue subsidiary loan prime borrower; premier borrower 380 presupuestaclon a partir de cero presupuesto extraordinario zero base budgeting - ZBB extraordinary budget; special budget presupuestacion completa presupuesto global de la explotacion agricola full budgeting whole farm budget presupuestaclon en dol ares constantes presupuesto igual, sin cambio, sin aumento conmantdoUarbudgeting flat budget presupuestaclon en dolares corrientes presupuesto multianual current dollar budgeting forward budgeting presupuestacion incremental presupuesto ordinario incremental budgeting regular budget presupuesto presupuesto ordinario, corriente cost estimate; resource envelope current budget presupuesto (de una unidad del Banco) presupuesto para programas reembolsables unit budget envelope reimbursable budget presupuesto basado en los costos efedivos presupuesto parcial dollar budgeting partial budget presupuesto broto presupuesto por funciones gross budget performance budget presupuesto de caja presupuesto por programas cash budget program budget presupuesto de capital presupuesto por unidad de actividad capital budget unit activity (crop) budget presupuesto de divisas prevalencia exchange budget prevalence [disease] presupuesto de explotacion, operacion prevision social operating budget social insurance presupuesto de gastos discrecionales previsiones de caja discretionary expense budget cash forecast presupuesto de gastos generales directos previsiones inflacionarias direct overhead budget inflationary expectations presupuesto de inversiones previsiones para fines de planificacion investment budget planning forecasts presupuesto de la explotacion agricola prima farm budget bonus; incentive payment; premium [MIGA]; premium [securities] 381 prima cambiaria principio de utilizacion de los fondos del Banco exchange premium en ultima instancia "Bank last" principle prima contingente standby premium [MIGA] principio del trato entre iguales, entre compailias independientes prima de, por caUdad ann's length principle quality premium principios relativos aI empleo del personal prima de emision Principles of Staff Employment [World Bank] premium [stocks] privatizacion prima de innacion divestiture; divestment inflation premium privatizacion mediante cupones prima por descarga rapida voucher privatization despatch money; dispatch money probabilidad de perdida de carga prima por reembolso anticipado loss of load probability - LOLP premium on prepayment [IBRD] problema de las colas prima por trabajo en el exterior queuing theory, problem overseas allowance problemas de cobertura efectiva, de primer memorando oficial incorporacion aI plan, de participacion en el initiating memorandum - 1M [World Bank] plan take-up problems (of means-tested pension plans) primeros procesos upstream process problemas iniciales teething problems principal principal procedimiento contable, de contabilidad accounting procedure principal sorten economico principal (income) earner procedimiento de aprobacion t'cita "no objection" (procedure) principales productos blisicos, primarlos core commodities [IBRD] procedimiento de dos sobres two-envelope procedure [consultants] p.incipiante trainee procedimiento oral oral procedure [ICSID] principio de proporcionalidad pro rata rules [ID A] procedimiento simplificado (para proyectos.••) streamlined project procedure principio de quien contamina paga polluter-pays principle - ppp procedimientos de adquisicion procurement (procedures) principio de utilizacion de los fondos del Banco en primera instancia procedimientos separados "Bank first" principle two-stage, two-step procedure [IBRD] 382 proceso de evaluacion del desempeilo (del produdo funcionario) output; proceeds Perfonnance Management Process - PMP produdo agricola bruto proceso presupuestario gross value product - GVP budget process produdo agricola para elaboracion de bebidas produccion beverage crop output produdO basico agricola no a1imentario produccion a escala comereial non-food agricultural commodity commercial production produdo basico, primario produccion a que se renuncia commodity forgone output; foregone output producto de marea registrada produccion agricola, de cultivos brand name product crop production produdo destinado por 8U propia indole a produccion alimentaria, de alimentos determinados grupos de la poblacion food production self-targeting (commodity) produccion antieconomica producto estrdla uneconomic production flagship product produccion combinada de calor y electricidad produdo (armaceutico generico combined heat and power - CHP generic drug produccion de abonos a partir de desechos produdo fisico marginal composting marginal physical product - MPP produccion de alimentos para consumo propio producto geogrMico bruto - PGB [Chile] autoconsumption of food gross domestic product - GDP produccion en gran escala, en serie produdo intemo ajustado con(orme a mass production consideradones ambientales - PIA environmentally adjusted domestic product - EDP produccion medida, e(ediva measured production produdo interno bruto - PIB gross domestic product - GDP producir efedo multiplicador [finanzas) leverage, to produdo intemo bruto a precios de mereado gross domestic product at market prices productividad del capital capital efficiency produdo intemo bruto aI costo de los (actores gross domestic product at factor cost produdividad marginal dd capital marginal efficiency of capital produdo material bruto - PMB gross material product· GMP produdividad total de los (adores total factor productivity· TFP 383 producto material nete - PMN programa de alcance exterior, de extension, de net material product - NMP divalgaclon outreach program produeto nacional bruto - PNB gross national product - GNP programa de alimentos ,or trabajo food-for-work programme producto nacional neto sosteoible - PNNS sustainable net national product - SNNP programa de atendon especial program of special emphasis - PSE produdo primario, buico primary product. commodity programa de cooperacion cooperative program producto sensible a la coyuntura sensitive product programa de demanda de aliment08 food demand program producto territorial bruto [peni] gross domestic product - GDP Programa de Desarrollo de la Capacidad de Evaluadon Ex Post producto ittU neto Evaluation Capability Development Program - net beneficial product ECDP[IBRD] productor compensador, de compensacion programa de eliminacion gradual de los swing producer prestamos del Banco phase out program [IBRD] produdos agricolu crops programa de finaneiamlento lending program productos alimentarios foodstuffs Programa de intervenciones dirigidu Program of Targeted Interventions productos industriales industrial goods programa de medidu, etc. package produdOl pesados heavy commodities programa de medidu de rescate, de salvamento rescue package programa schedule programa de operaeiones operating program [IBRD] programa (de financlamiento) buico base (lending) program [IBRD] programa de operaeiones crediticlu lending program programa (de rmandamiento) de raerva standby (lending) program [WRD] programa de "quinta dimension" Fifth Dimension Program programa coya magnltud depende del volumen de actividad programa de reestructuracion de la deada volume driven program debt work-out program [World Bank] programa de ventu subvencionadas social marketing program [population] 384 programa integrado de capacitadon y promesa de participacion en el capital perfeccionamiento de fundonarios que ocupan accionario cargos de direccion pledge (ofshares) []FC] integrated management training program promocion de la autonomia programa ordinario de financiamiento empowerment regular lending program [IBRD] promocion del comercio Programa para la Maternidad sin Riesgos trade promotion Safe Motherhood Initiative [IBRDIWHO] promotor programacion lineal motivator [family planning]; outreach worker; linear programming sponsor programas promotor inmobiliario software real estate developer programas de fortalecimiento institucional propension marginal (a1 consumo, aI ahorro, institutional programs [IBRD] etc.) marginal propensity (to consume, to save, etc.) programas focalizados, dirigidos a grupos especfficos propietario registrado targeted programs record owner programas preparados por el gobierno mismo proporcion de importadone8 sujetas a barreras government-owned programs no arancelarias trade coverage ratio progresividad arancelaria tariff escalation propietarios de las accione8 ownership (of a corporation) progreso development propuesta tender proliferacion de algas algae, algal bloom propuesta de candidatura nomination proliferacion de 8Sentamientos urbanos utban sprinkling prospecto prospectus [financial markets] promediados rolled (costs) proyeccion del flujo de fondos cash projections promedio movil running average; moving average proyectista designer promedio ponderado weighted average proyecto design promesa de contribucione8 pledging 385 proyecto agropeeuario; proyecto de cultivos proyecto de "nuevo estilo" multiples "new style" project [ffiRO] mixed :fanning project proyecto de presupuesto proyecto aislado budget estimates outlier project proyecto de nipido reodimiento proyecto bAsico quick yielding project [IBRO] core project proyecto de rehabiUtacion del sector proyecto compeosatorio exportador~ de exportacioo shadow project export rehabilitation project - ERP [IBRO] proyecto complementario proyecto empreodido a instaocias follow-up project gubemameotales bebest project proyecto complementario repeater project proyecto en avanzado estado de ejecucion~ proximo a termioarse proyecto concatenado mature project piggyback project proyecto en que Ie bara todo 10 posible para proyecto de a1cantarillado lograr la participacion de la mujer sewerage project "best effort" project [IBRO] proyecto de ambito nacional proyecto eo tramitacion~ eo reserva countIy-wide project pipeline project proyecto de caracter social proyecto eo un sector especifico soft project area specific project Proyecto de Comparacion Intemacional - PCI proyecto eoclave International Comparison Project - ICP enclave project proyecto de cootenido minimo proyecto financiable (por el Banco) minimum package project bankable project proyecto de desarrollo rural integrado proyecto global integrated rural development project umbrella project proyecto de exposicion proyecto indepeodiente showcase project stand-alone project proyecto de fines multiples proyecto independiente~ autonomo multipurpose project free-standing project proyecto de inversion proyecto integrado de conservacion y desarrollo investment project integrated conservation-development project - ICDP proyecto de muy corto plazot relampago hit-and-run project 386 proyedo Dave en mano prueba de "con y .In" turnkey contract, project "with-and-without" test [projects] proyedo modelo prueba de variedad(es) good practice project variety trial proyedo no bisico prueba del rendimiento de los proyedos noncore project yield test of projects proyedo no Induido en la cartera pruebas de aprovecliamiento, de progreso nonportfolio project [IFC] eKolar, de rendimiento achievement tests [education] proyecto puntero, de punta flagship project pruebas documentales documentaly evidence proyedo que se autofinanda self-liquidating project publicad6n especializada para determinada industria, negodo 0 profesion proyedO que sirve de marco para otros trade publication umbrella project publkad6n estreUa proyecto totalmente nuevo flagsbip product greenfield project publicad6n mediante microcomputadora proyedos azules desktop publishing blue projects pueblos tribales proyedos en tramitacion, en reserva tribal peoples lending pipeline; pipeline of projects puente-biscula proyectos en tramitad6n, en reserva weighbridge pipeline of projects; lending pipeline; project pipeline puerto de aguas profundas deep water port proyectos en tramitad6n, en reserva project pipeline; pipeline of projects; lending puerto franco, libre pipeline free port proyedos marrones, pardos puesto de atraque de fines multiples brown projects multipurpose berth proyectos verdes puesto de monta green projects service station [livestock] prueba puesto de monta, de cubridon, de reproduccion evidence [ICSID] breeding station [commercial breeding] prueba de "antes y despues" puesto de salud "before-and-after" test health post 387 puesto de venta de productollUbvencionadol racionalizaci6n fair price shop streamlining PUeRO ejecutivo, de operaciones rafces aUmentarias line position rooterops punto (porcentual) ramo percentage point business line punto maximo estacional rapido desembolso seasonal peak quick disbursing (loan); fast disbursing (loan) punto muerto, de equUibrio rapido desembolso, pristamo de breakeven point fast disbursing (loan); quick disbursing (loan) que genera deudas raza debt -creating breed (livestock] que impone los precios reactivaci6n price leader, setter, maker recoveIY; upturn (economic) que impone los precios readiestramiento price maker, setter, leader retraining que impone los precios reajuste price setter, maker, leader adjustment que no afecta al presupuesto reajuste financiero budget neutral financial adjustment que no cumple 101 requisitos reaseguro contractual ineligible treaty reinsurance que no se ajusta (a las estipulaciones, normas, reaseguro facultativo etc.) facultative reinsurance nonresponsive reaseguros que se ajusta (a las estipulaciones), normas, etc. reinsurance responsive reasentamiento involuntario que se beneficia sin alUmir carp alguna involuntaJ.Y resettlement free rider [economics] reasignaci6n (de fondos) que tiene en cuenta.•• redeployment (of funds) responsive reasignaci6n de fondos presupuestariol quema de gas input switching gas flaring rebaja de intereses racimo de fnatas freseas interest rebate fresh fruit bunch - FFB 3SS rebajar de categoria recirculation (de capital) downgrade, to (a loan) recycling (of capital) rebajar el valor en libros reclamacion write down. to~ expense, to claim rebeldia (unicamente en el sentido del Art. reclamacion salarial 45[2) del Convenio) wage claim default [ICSID] reclasificacion rebrote regrading [personnel] regrowth recolocacion recalentamiento atmosferico, de la Tierra outplacement global warming recompras en efectivo recargo a la(s) importacion(es) cash buybacks import surcharge reconciliar recargo 0 multa para reducir las emisiones de reconcile carbono carbon tax reconocimiento medico health screening recargo tributario tax surcharge reconocimiento sismico seismic survey recaudacion de impuestos collection of taxes reconocimiento yejecucion (de un laudo) recognition and enforcement (of award) [ICSID] recaudacion tributaria tax yield reconstitucion de los recursos replenishment of resources receptor de creditos de la AlP IDA recipient reconstituir replenish (an account), to recesion recession; slump reconversion industrial retrofitting recesion con inflacion slumpflation recopUacion de datos collection of data recibo certificate of payment recopilacion de datos data collection reciclaje recycling (of capital) recorte de la demanda de punta peak (load) shaving [electricity] recinto (ocupado por una familia e:rtensa) compound [West Africa] recubrimiento overlay [highways] 389 reeubrimiento de grava recuperar graveling; regraveling reclaim reeuento de trafico recuno (legal) traffic count legal remedy reeuperaci6n recuno provisional recovexy stopgap measure reeuperaci6n reeunos buicos retrieval; upturn (economic) core fund [GEF] reeuperaci6n acelerada reeunos en divisas accelerated recovery foreign exchange resources reeuperaci6n de cosios reeur80s iDexplotados cost recovery untapped resources reeuperaci6n de la iDveni6n recunos propios return of investment internally generated funds; cash generation; internal cash generation reeuperaci6n de tierns land reclamation recur50s provenientes de las operacione8 internally generated funds; cash generation; reeuperaci6n de un prestamo, de prestamos internal cash generation loan recovexy recunos reservados (para un determiDado reeuperaci6n del capital proyecto) return of capital tied resources reeuperaci6n diferida recusaci6n deferred recovery disqualification [ICSID] reeuperaci6n estandar red de area local - LAN standard recovery local area network - LAN Recuperaci6n Garantizada del Principal de las red de distribuci6n, de reparto Inveniones - GRIP delivery system; supply system Guaranteed Recovery of Investment Principal- GRIP [JFC) red de energia electrica power system recuperaci6n mejorada enhanced recovery [oil] red de seguridad social social safety net reeuperaci6n secundaria secondary recovery red interurbana trunk network reeuperaci6n terciaria tertiary (oil) recovery red principal main power grid [electricity] 390 redactor jefe reducciones presupuestarias editor budget cuts redencion reducir de tamaAo redemption downsize, to redescontar reembolso rediscount refunding redescuento reembolso anticipado discount window [central bank]; rediscount advance repayment; prepayment [IBRD] redimible reembolso de impuestos redeemable tax refund redistribucion (de fondos) reembolso (anticipado) de la deuda redeployment (offunds) retirement of outstanding debt reduccion reembolso en cuotas iguales drawdown; rolling back level repayment reduccion de costos reembolsos concentrados al comienzo de un avoided cost periodo front loading reduccion de impuestos tax rebate reembolsos de los creditos de la AD IDAreflows reduccion de las tasas mUimas de cada tramo aranceiario, del araneel reemplazo de personal extranjero por personal concertina reduction nacional indigenization redueeion de los impuestos tax mitigation reestructuracion empresarial, de empresas corporate restructuring reduccion de los margenes de utilidad profit squeeze reestructuracion f"manciera workout [financial] reduccion de personal redundancy [staffing] refinanciacion refinancing reduccion del capital capital impairment refinanciacion refunding reduccion del valor en libros writing down refinanciamiento refinancing reduccion inicial down payment (on the budget deficit) refinanciamiento continuo rollover reducciones arancelarias radiales radial reductions 391 ref"mar regia del primer do upgrade, to [oil] first year rule - FYR [project analysis] reOacion Reglamento del Mecanismo Complementario reflation Additional Facility Rules [lCSID] reOujos de los cftditos de la AD Reglamento dd Personal IDAreflows Staff Rules [IBRD] reforestaciOn Reglamento Intemo para las Reuniones del reforestation~ reafforestation Directorio Rules of Procedure for Meetings of the Executive reforma de la tenenda de la tierra Directors land reform Reglamento y Reglas (del Centro) refugio tributario Regulations and Rules (of the Centre) [lCSID] tax shelter reglamento~ estatutos regimen cambiario bylaws exchange system Reglas de Arbitraje regimen de licencias de importation AIbitration Rules [ICSID] import licensing Reglas de Conciliacion regimen de palOS con cargo a los ingresos Conciliation Rules (lCSIP] corrientes pay-as-you-go system [social security] Reglas de Iniciacion Institution Rules [ICSID] regimen de tenencia de la tierra land tenure system Reglas ProcesaJes Aplicables a la Iniciacion de los Procedimientos de Conciliacion y Arbitraje registrado (Beglas de Initiation) registered (e.g. tradesmen) Rules of Procedure for the Institution of Conciliation and AIbitration Proceedings registrador (Institution Rules) [lCSID] registrar [lCSID] Reglas Procesales Aplicables a los Registro Procedimientos de Arbitraje (Beglas de Register [lCSID] Arbitraje) Rules of Procedure for AIbitration Proceedings registro (de valores) (AIbitration Rules) [ICSID] perfection (of security) Reglas Procesales Aplicables a los registro catastral Procedimientos de Conciliation (Beglas de land register Conciliacion) Rules of Procedure for Conciliation Proceedings registrode iagresos (Conciliation Rules) [ICSID] revenue recognition regulacion de (las) aguas regia de los dos dos water control two-year trigger rule 392 regulation de la demanda relacion capital~servieio demand management capital-service ratio regulaeion de la oferta relacion capital-trabajo supply management capital-labor ratio regulacion salarlal relacion contractual (bipamta) wage control privity [legal] rehahilltaclon relation eorriente [America Latina) rehabilitation current ratio; working capital ratio reintegro relacion costos--heneficios drawback [customs]; recall [MOV] benefit~ ratio [US]; cost-benefit ratio [UK] reintegro a pro rata, proporeional relacion costos--henefitios empresarlales, de las pro rata recall empresas entrepreneurial benefit-cost ratio - EBC reintegro acelerado accelerated recall [MOV] relacion costos--henefieios privados private benefit-cost ratio - PBC reintegro de impuestOIL tax refund reladOn costos--heneficioilloclaies social benefit-cost ratio - SBC reintegro de los montos en prestamo recall under loans [MOV] relacion de Bruno Bruno ratio reivindicacion salarial wage claim relacion de cobertura de intereses interest coverage ratio - ICR; times interest earned relacion activo disponih1e-pasivo corriente ratio acid-test ratio; liquid ratio; quick ratio relacion de cobertura de las importaclones relacion activos de riesgo-patrimonio import coverage ratio IFC risk assets~uity ratio relaclon de cuenta relacion alumnos--profesor, alumnoll por accounting ratio profesor pupil-teacher ratio - PI'R; student-teacher ratio - relaclon de dependencia (por edades) STH.; teacher-pupil ratio dependency ratio relacion heneficio net.inversion relacion de desmonte net benefit investment ratio stripping ratio [mining] relaciOn capital-activo relacion de endeudamiento equity ratio debt ratio relaclon capital-produeto relaeion de endeudamiento a largo plazo capital-output ratio long-term debt ratio 393 relaci6n de energia neta - KEN relaci6n iDsumo-producto net energy ratio - NER input-output ratio relaci6n de pstos relaci6n iDtereses de la deuda - exportadona statement of expenditure - SOE debt burden ratio relad6n de iDestabilidad relaci6n pasivo-eapital volatility ratio [stocks] gearing ratio; free resource ratio; capital gearing ratio; leverage (ratio) [US]; gearing (ratio) [UK]; relaci6n de iDtercambio gearing ratio [!FC] terms of trade relaci6n personal-poblaci6n relaci6n de iDtertambio de dos fadores sta:f:Iing ratio double factorial terms of trade relaci6n precio-utilidades relaci6n de iDtercambio de iDgresos price-earning ratio; PIE ratio - PER income terms of trade relaci6n prbtamos desembolsados y relaci6n de iDtercambio de trueque pendientes-eapital y re8en'as [Banco Mundial] barter terms of trade gearing ratio; free resource ratio; capital gearing ratio relaei6n de iDtercambio de un solo factor single factorial terms of trade relaci6n profesor-alumnos student-teacher ratio - STR; pupil-teacher ratio - relaci6n de recaudaci6n de impuestos PTR; teacher-pupil ratio tax perfonnance ratio relaci6n riesgo-activos relaei6n deuda-capital risk-asset ratio debt--equity ratio; debt-to--equity ratio; debt-to-capital ratio relaeiones entre empleados y empleadores industrial relations; labor-management relations; relaei6n dosis-efeeto labor relations dose-response relationships relaciones financieras relaci6n endeudamiento-eapital propio ::financial ratios gearing [UK]; leverage relaciones obrero-patronales relaei6n endeudamiento-capital propio labor-management relations; labor relations; leverage (ratio) [US]; gearing (ratio) [UK] industrial relations relaci6n gastos de vivienda-iDgresos relajaci6n monetaria housing expenses/income ratio; affordability ratio monetaIy ease relaci6n impuestos-iDgresos relajaci6n monetaria tax ratio monetaIy ease relaci6n impuestos-pm remediar los daios sufridos por eI medio taxlGDP ratio ambiente clean-up (environmental) relaei6n incremental capital-produdo incremental capital-output ratio - ICOR 394 rendimieDto esc:olar educational achievements reDIeIU de 101 trabajadores (emigrados, reDdimiento medio nete de los actiVOl apatrladOl) productivos workers' remittances average earning assets - ABA remisioD reDdimieDto miDimO referral tloorreturn remora fiu reDdimiento termico :fiscal drag heat rate remuneracloD reDdimieDtos decredeDtes compensatioD; earnings diminishing returns remuneradoD Beta reDgioD arancelario take-home pay tariff line renditioD de cuental renivelacioD accountability regrading [highways] rendimieDto renovacioD perf01'ID3DCe retrofitting; rollover reDdimiento a eKaia reDovacioD de la superfide returns to scale resurfacing [highways] rendimiento al venclmieDto renta yield to maturity - TIM income rendimiento COrrleDte reDta de mODopolio current yield monopoly rent rendimiento de la invenioD reDta econ6mica investment return. yield; return on, to investment economic rent rendimiento del capital reDta per capita, POI' habitante return on, to capital per capita income rendimieDto en fundoD de la eua reDta presoDta returns to scale assessed income rendimiento en la fabricacloD, la molienda, el reDta(s) proveniente(s) de propiedades publicas maquinado property income [government] milling yield rentabilidad rendimieDto equivalente a UD interes DOminal earning power coupon equivalent yield rentabilidad de equilibrio del mercado market-clearing returns 395 rentabilldad de la aversion repoblacion forestal investment return. yield; return on. to investment afforestation; reaft'orestation; reforestation rentabilldad del capital repoblacion forestal capital efficiency; return on. to capital reforestation; reafforestation rentabilldad media neta de los activos reponer productivos replenish (an account), to average earning assets - AEA reposiciOn de eustencias renw restocking revenues; returns reposicion de los recursos [AlF] rentas publicas replenishment of resources government receipts, revenues represa de almacenamiento renuncia storage dam droppage []FC]; waiver (of a right) [ICSID]; waiver (of immunity) [ICSID] represa de derivacion diversion dam renuncia (a un derecho) waiver represa de terraplen earthfill dam renunciar (a un derecho) waive, to representacion representative office [bank] reorganizaciOn rehabilitation representante de ••• chair representing ... [World Bank Executive reorientacion del gasto Directors] expenditure-switching representativo reparacion de baches proxy patching; spot improvement, patching; road, surface patching [highways] represion rmanciera financial repression reparacion de los danos ambientales clean-up (environmental) rep.-estamo onlending; onward lending reparaclon general de equipo overhaul [equipment) represtar onlend. to; relend. to reparticion en poreiones, tramos tranching [loans] reproductor [ganaderia) breeder [agriculture] repereusiones de las alzas de precios ripple price effects reproductores breeding stock repeticion de un proyecto, program a rollover project, program 396 reprogramad6n (dd semclo) de la deada rese"a de biosfera debt rephasing; rescheduling of debt; rephasing of biosphere reserve a debt; debt rescheduling rese"a de valor repataci6n en materia de credito store-of-value credit standing rese"a del Presidente requerimiento de capital President's Contingency call for capital; call of capital rese"a especial reqaisito de dep6sito previo, anticipado (a la Special Reserve [World Bank] importaci6n) advance deposit requirements (on imports) rese"a notante en e(ectivo floating cash reserve requisito(s) en materia de in(ormes reporting requirement(s) Rese"a General General Reserve(s) [mRD] requisitos de desempeilo, cumplimiento, funcionamiento Rese"a general para perdidas performance requirements [contracts] General Loss Reserve [IFC] requisitos que deben cumpline rese"a genetic&, genica eligibility; eligibility conditions gene pool resarcimiento rese"a minima obligatoria recoupment [insurance] minimum cash requirement rescatable rese"a obligatoria redeemable legal reserve; reserve requirement rescate rese"a obligatoria marginal redemption marginal reserve requirement rescate (anticipado) de la deuda rese"a para depreciacion retirement of outstanding debt capital consumption allowance; reserve for depreciation; allowance for depreciation; rescate de la deuda depreciation allowance debt retirement rese"a para imprevistos rescindir [nombramiento] contingent reserve terminate rese"a para imprevistos, para contingencias resclsi6n allowance for contingencies; reserve for termination contingencies; contingency allowance resellado rese"a para perdidas resealing [highways] loss provision; provision for losses; reserve for losses; reserve against losses rese"a provision [accounting] rese"a por agotamiento depletion allowance, reserve 397 Raerva Suplementaria para perdidas en resquicio pr&tamos y por devaluaciones de monedas window (in a market) (Reserva Suplementaria) Supplemental Reserve against Losses on Loans resquido tributario and from Currency Devaluations (Supplemental tax loophole ReselVe) restriccion a la admisibilidad de lidtantes raervas de divisas bracketing foreign exchange reserves restriccion del credito raervas de oro credit squeeze; credit tightening gold holdings restricdon del credito raervas disponibles credit tightening; credit squeeze free reserves restriccion oficiosa del credito raervas intemacionales window guidance [central bank] international reserves restriccion pronundada del credito raervas ocultas credit crunch hidden reselVes restriccion salarial raervas primarias wage restraint primary reserves restricciones crediticias reservas recuperables dermitivas - RRD tightening of credit ultimate recoverable reselVes - URR result ado final resometimiento (en el sentido del Art. 52[6] del bottom line Convenio) resubmission [lCSID] resultado(s) finandero(s) financial performance, results responsabilidad accountability resultados performance responsabilidad ante mas de una autoridad, entidad, jere resultados economicos matrix reporting economic performance responsabilidad global maxima resultados esco)ares maximum aggregate liability [MIGA] educational achievements responsabilidad macroeconomica resumen macro-level accountability executive surnnuuy responsabilidad microeconomica resumen de actividades previstas micro-level accountability activity brief [EDI] responsabilizar retendon (de impuestos) en la (uente empower pay-as-you-eam - PAYE; pay-as-you-go [taxation] 398 retencion del bnpuesto Reuniona ADuala del Banco Mundial y del tax withholding Fondo Monetario Intemacional Annual Meetings (of the Boards of Governors) of retencion en, como pranda the World Bank and the International Monetary retention money Fund retencion tennka reuniones de grupos de representantes de los heat trapping interesados focus group retirar fondos draw, to (funds) reutBizacion de las ganancias rollover of gains retiro de una moneda de la circulacion calling in of a currency revalorizacion revaluation retraso lag; slippage; time lag revaluacion revaluation retroaccion feedback (ofinfonnation) revestimiento overlay [highways]; surfacing [highways] retroarriendo leaseback riego por anegacion controlada flood control irrigation retrocesion en arrendamiento leaseback riego por aspersion spray irrigation; sprinkle irrigation retroinformacion feedback (ofinfonnation) riego por aspersion con pivote central center pivot sprinkle irrigation reubicacion outplacement riego por compartimientos basin irrigation; level border irrigation Reunion ADual Annual Meeting [ICSID] riego por corrugacion corrugation irrigation reunion de condusiones wrap-up meeting riego por desbordamiento natural wild flooding reunion en dos niveles two-tier meeting riego por eseorrentfa, por eseurrimiento runoff irrigation Reunion Inaugural Inaugural Meeting [ICSID] riego por goteo drip irrigation; dribble irrigation; trickle irrigation reunion informal (del Diredorio) Board seminar riego por gravedad gravity irrigation reunion oficiosa informal meeting 399 riego ,or gravedad eon retenes riesgo de perdida en, ,or eoncepto de intereses border check irrigation; border ditch irrigation; interest rate risk border irrigation; border strip irrigation; gravity check irrigation; nllbon check irrigation; strip riesgo de transf'ereDcia de mooed a check irrigation; strip irrigation currency transfer risk [MIGA] riego ,or lnundacion riesgo moral flood irrigation; spate irrigation moral hazard riego por microaspersion riesgo que plantea el Estado prestatario micro-sprayer irrigation sovereign risk riego,orsureOB riesgo IOberano furrow irrigation sovereign risk riego por sureol peque601 y pro:dmOB rielgOB no cubiertol corrugation irrigation excepted risks riego por tablares, ,or eras rizomas border check irrigation; border ditch irrigation; rhizomes; rootstock crops border irrigation; border strip irrigation; gravity check irrigation; ribbon check irrigation; strip roca fosf'atadilt fosf'orita check irrigation; strip irrigation rock phosphate; phosphate rock riego subterrlineo roce subirrigation; subsoil irrigation ash farming; bum-beating; burning riego superficial, de superficie rodado COD tanque Devado a la espalda surface irrigation knapsack spraying riesgo rociado de muy bajo volumeD exposure ultra low volume (ULV) spraying rielgo admilible rodal eligible risk stand [forest] riesgo cambiario Ronda Ul1lguay exchange risk; foreign exchange risk Uruguay Round [GAIT] riesgo conjunto rotaci6n co-exposure [insurance] turnover riesgo de expropiacion rotacion del inventarlo, de las e:dstencias risk of expropriation [MIGA] inventory turnover riesgo de incumplimiento de contrato rotafolio breach of contract risk [MIGA] flip chart riesgo de lOB baneos roza bank exposure ash farming; bum-beating; burning 400 ruido de fondo saldos pendientes background noise overhang saear de apuros saldos que Ie traspasan bail out, to carryovers saeudiJniento saldol retenidos para cubrir operac:iones a shakeout (of the market) termino, a plazo balances held on a covered basis salario wage rate saldol traspasados carryovers salario-producto product wage salegar salt lick~ mineral lick salario de cuenta shadow wages salida en el orden de adquisicion, fabricac:ion, etc. salario de cuenta social first in, :first out - FIFO social shadow wage rate • SSWR salida en orden inverso aI de adquisicion, salario de efieienda fabricacion, etc. efficiency wage last in, :first out - LIFO salario de raerva salida impresa reservation salary, wage hard copy salario monetarlo, nominal saneamiento money wage sanitation salario neto saneamiento ambiental take-home pay environmental health. sanitation salario IOmbra saneamiento de la cartera shadow wages portfolio cleanup saldo ac:reedor no utilizado saneamiento de tierras unspent credit balance land reclamation saldo de, en caja sanear cash ba1ance~ cash holdings; cash in hand; cash on reclaim hand satelite de exploracion de 101 recursos terrestres saldo no utilizado earth resources satellite undrawn balance satelite para e1 estudio de los rec:ursos terrestres saldo traspasado earth resources satellite balance canied forward seccion de evisceracion saldos en efectivo dressing section, hall [slaughtering] balances [cash1 401 sea:ion esdndar (del presupuesto) seguridad alimentaria standard charge section food security Secretario Geaeral Adjunto seguridad de tenencia Deputy SecretaIy General [ICSID] security of tenure sedor de la construcclon seguridad en el cargo construction sector security of tenure sedor empresarial seguridad social corporate sector social insurance sector estrueturado seguridades aceptablel para 101 bancos formal sector bankable assurances sector informal seguro contra todo rielgo informal sector all risk insurance; comprehensive insurance sector no estrudnrado seguro de desempleo informal sector unemployment compensation, benefit sectores de producclon primaria seguro de inversion commodity producing sectors investment insurance sectores productivos seguro multilateral de inverliones real sectors multilateral investment insurance secuestro seguro social seizure [legal] social insurance seguimiento selecci6n follow·up; monitoring triage seguimiento del desempeilo, de los resultados selecci6n automatica interurbana performance monitoring subscriber trunk dialing· SID seguimiento y evaluaclon seleccion de 10 mejor monitoring and evaluation· M & E cheny picking segUn registro de caja seUado superficial, de superficie cash basis, on a surface dressing [highways] segunda alternativa selva (pluvial) tropical second-best optimum tropical rain forest segunda linea de reservu selva pluvial secondary reserves rainforest seguridad sementales security breeding stock 402 semUla bUiea senicio a eambio del pago de honorariol foundation seed. fee-based service [IFC] semUla certif"lCada senicio baneario internacional certified seed. international banking facility - IBF semUla de primera reproducclon, del mejorador senicio de emision de pagarel - SEP breeder seed. revolving underwriting facility - RUF; note issuance facility - NIP; prime underwriting facility semUla regi8trada -PUF registered seed. Senicio de financiamiento a largo plazo para la semillu de campo compra de bienes de capital por los paises en field seeds desarrollo Long-term Facility for Financing Purchases of semimontado Capital Goods by Developing Countries [IBRO] semiknocked down - SKD senicio de financiamiento transitorio Seminario de polfticu de. •• bridging facility Senior Policy Seminar on... [EDI] senicio de pristamos en condiciones ordinarias, Seminario de polfticu generales no concesionarias Senior Policy Seminar [EDI] hard loan window sensibiIidad a las tuas de interel senicio de reestl1leturacion de la deuda interest (rate) sensitivity Debt Restructuring Facility - DRF seilal de alert&, de prevenclon senicio de sobregiro warning signal overdraft facilities separacl.on de riesgos fmancleros senicio de transmision unbundling of financial risks wheeling separacl.on del senicio Senicio especial de fmanciamiento para separation [employment] productos mineros de los paises ACP y PTUM Sysmin (= Special :financing facility for ACP and serle cronologica OCT mining products) [European Communities] time series senicio financiero de ajuste estl1lctural (SAE) serie de beneficiOl dentro del marco de la Cuenta Especial de benefit stream Desembolso Structural Adjustment Facility (SAP) within the serle de dispolicionea, equipos, proyectoR, Special Disbursement Account [IMF] actividadea, fmanciamiento package senicio minimo nominal service serle de medidas financieras :financial package senicio para la transformacion sistemica Systemic Transformation Facility [IMP] senicio facility 403 serviclo para priltamol concesionanos smOR (tua de oferta interbancaria de soft loan window Singapur) SmOR [= Singapore Interbank Offered Rate] serviclo paraestatal parastata1 (noun] siembra a voleo broadcasting (seed, fertilizer) servici08 bancari08 para consumidores retail banking silvicultura sostenible sustainable forestry servicios comunitari08 de 8Ilud community health services simiente8 de campo field seeds serviclos conexos incidental services simplificaci6n streamlining servici08 de apoyo backstopping sin efecto sobre 108 recunos resource-neutral servici08 de credito, credidci08 credit facilities sin garantfa unsecured (note, loan, etc.) servici08 no atribuibles a fadores nonfactor services - n.f.s. sindrome de inmunodeficiencia adquirida - SIDA servici08 no comerdales acquired immune-deficiency syndrome - AIDS nonmarket services [national accounts] smopsis de acdvidades (no reIacionadas con servici08 publicos proyect08 especificos) public utilities; utilities activity brief [EOI] servidumbre de paso sfote8ls informativa sobre un (el) proyecto right of way sununa.Iy of project information sago sintesis sectorial bias (economy; statistics] approach paper sago (por defecto) de margen, de borde sirope de maiz de alto contenido en fruetosa border bias high fructose com syrup - HFeS sago (por exceso) de margen, de borde sistema (de amortizaci6n, de depreciaci6n) de edge bias saldo decreciente declining balance method; reducing charge sai6n method sitting [ICSID] sistema (0 planes) de reparto set08 viv08 pay-as-you-go system (social security] live fencing sistema administrativo si, muy bien, pero no en mi barrio administrative machinery NIMBY (not-in-my-backyard) 404 sistema cambiario sistema de licencias de importacion exchange system import licensing sistema de alcantarillado "en condominio" sistema de modelos algebraicos generales condominial sewerage system General Algebraic Modeling System - GAMS [IBRD] sistema de alcantarillado (alcantarillado) para efluentes Iiquidos sistema de multiples procedimientos para las emuent sewerage; solids-free sewerage; small-bore transacciones sewerage multiple trading approaches sistema de alerta anticipada Sistema de notificacion de la deuda aI Banco early warning system Mundial Debtor Reporting System [World Bank] sistema de arbitraje administrado por una institucion sistema de notificacion de la deuda externa administered arbitration system [ICSID] external debt reporting system sistema de capacitacion y visitas sistema de pagos iguales de principal e intereses rr training and visit & V] system annuity system [debt service] sistema de capitacion sistema de pagos tot ales iguales (de principal e capitation approach [health financing] intereses) level annuity system sistema de captacion de rentas rent-seeking sistema de participacion en la gestion, administracion sistema de cultivo comanagement; codetermination; management cropping pattern participation system sistema de cultivo sin laboreo, de cero labranza sistema de planificacion y evaluacion del zero tillage system desempeiio (del funcionario) Performance Planning and Review - PPR [IBRD] sistema de determinacion de precios en funcion del costo mas honorarios sistema de planificacion, programacion y cost-plus pricing system presupuestacion - Sppp planning, programming, budgeting system - PPBS sistema de distribucion, de reparto delivery system; supply system sistema de presentacion de informes reporting system [projectsJ sistema de explotacion agricola farming system sistema de prestacion de senicios de salud health delivery system sistema de fijacion de tipos, tasas de interes pricing system [financial markets] sistema de prestacion, de suministro (de un senicio) sistema de honorarios por senicios delivery system; supply system fee-for-services basis sistema de prestador preferido - Spp sistema de informacion para la administracion preferred provider organization (PPO) system management information system - MIS 405 sistema de programacion orientado a objetos situacion de autosostenimiento object-oriented programming system - OOPS self-sustaining state sistema de puntos situacion de balanza de pagos merit point system balance of payments position sistema de seguridad social situacion de efectivo, de liquidez social security scheme cash position sistema de tipos de intens basados en una eesta situacion de emergencia latente de emprestitos pendientes slow onset emergency; quiet emergency Pool-Based Lending Rate System [IBRD] situacion de las reservas sistema de votacion ponderada reserve position weighted voting system situacion de liquidez sistema financiado con aportaciones liquidity position unfunded system [insurance; social security] situacion de pagos (de un pais) sistema financiado con fondos propios payments position (of a country) fully funded system situacion de pagos enemos Sistema Generalizado de Preferencias - SGP external payment position Generalized System of Preferences - GSP situacion de pagos intemacionales sistema impositivo con deduecion de gastos international payments position efectuados en el mismo aDo cash flow system of taxation situacion en materia de reservas de divisas foreign exchange position sistema intemacional de garantias de eridito international credit guarantee system situacion financiera financial intrinsics sistema multiple de mensajes financieros message front-end system situacion sociocconomica socioeconomic status - SES sistema nacional de investigaciones agronomicas national agricultural research system - NARS sobrante overhang sistema radial hub and spoke system sobre una base semestral semiannual coupon equivalent basis, on a [bonds] sistemas de eridito, erediticios credit facilities sobrecostos cost overrun sistemas simplificados de aleantarillado simplified sewerage sobreempleo overemployment situacion status sobreprecio price premium 406 sobrestadia sociedad matriz demurrage parent company sobretasa sociedad no accionaria tax surcharge nonstock corporation sobrevaloracion de las monedas sociedad publica exchange rate overvaluation public corporation sociedad anonima sociedad simple, colectiva stock corporation partnership sociedad cuyas acciones se comu en bolsa socorro publicly traded company relief sociedad de ahorro y cridito solicitud de ingreso savings and loan association application for membership sociedad de aborro y pristamo solicitud de ingreso savings and loan association membership application sociedad de cartera, de inversiones solicitud de pristamo holding company loan application sociedad de inversion con numero de actiones solicitud de propuestas fijo request for proposal. RFP closed-end investment company, fund [US]; investment trust [UK] solicitud de retiro de fondos (de la cuenta del pristamo 0 cridito) sociedad de inversiones application for withdrawal (from loan account or investment company, fund credit account) sociedad de inveniones con numero de acciones solicitud defmitiva de garantia variable definitive application for guarantee open-end (investment) fund; unit trust [UK] solicitud preliminar de garantia sociedad de respunsabilidad limitada preliminary application for guarantee [MIGA] limited liability company s6lidos en suspension sociedad de valores suspended matter securities dealer; securities firm solucion de compromiso sociedad en comudita pur acciones trade.atf joint stock company solvencia sociedad en participacion creditworthiness; financial standing joint venture solvencia economica sociedad ficticia economic soundness [MIGA] shell company 407 IOsten de la familia subida ,or efeeto de trinquete breadwinner ratcheting up sosten de preaos sub inversion price support underinvestment sostenibilidad subocupacion sustainability underemployment lOStenibilidad ambiental subOptimo environmental sustainability second-best optimum STABEX (Sistema de estabilizaclon de los subprestamo ingresos de exportaclon de los Estados ACP y subloan PTUM) Stabex (System for the stabilization of ACP and subprestamo de aprobatiOn autonoma OCT mining products) [European Communities] free~limit subloan statu quo subprestatario standstill subborrower subasta de divisas subproyecto foreign exchange auction subproject subcapitalizado subproyectos gestionadoll a trave. de agentes undercapitalized agency (line) subprojects subcontratista subrasante subcontractor subgrade [highways] subcontratista propuesto subsidiaria en propiedad ablOluta nominated subcontractor wholly owned subsidiaIy subcontrato subsidiariedad subcontract subsidiarity subdivision politica u organismo publico (de un subsidio a 10 exportaclones Estado Contratante) export subsidy constituent subdivision or agency (of a Contracting State) [ICSID] subsidio a 10 importaclones import subsidy subempleo underemployment subsidio a los consumidores consumer subsidy subfacturaclon de exportaclones underinvoicing of exports subsidio cruzada(o) intema(o) internal cross subsidy subgarante (CFI] subunderwriter [IFe) subsidio cruzado cross subsidization 408 subsidio de explotacion, de operacion, de subvencion para insumo8 funcionamiento input subsidy operating subsidy subvencion para invenion subsidio para instalacion investment grant settling-in grant [IBRDJ sueldos y salarios subsidio por lugar de destino dificil salaries and wages hardship allowance suelo(s) de fertiIidad marginal, de baja subsidio por reasentamiento, por reinstalacion fertilidad resettlement grant marginal soil(s) subsidio por traslado suficiencia de(l) capital relocation grant capital adequacy subsidios de asistencia social sujeto aI cobro, aI pago de derec:hos welfare payments dutiable subvaloracion de las faduras de exportacion sujetos (potenciales) del impuesto underinvoicing of exports tax handles subvencion sujetos, bienes y ac:tividades imponibles grant-in-aid tax net subvencion a las exportac:iones suma alzada export subsidy lump sum price subvencion a las importac:iones suma por la cuallas cantidades devengadas son import subsidy inferiores a las previstas underaccruals subvencion a los consumidores consumer subsidy suma total aggregate subvencion cruzada cross subsidization sumidero sink (e.g. of greenhouse gases) subvencion cruzada(o) intema(o) internal cross subsidy suministro de agoa water supply subvencion de explotacion, de operacion, de funcionamiento suministro de energfa a1imentaria - SEA operating subsidy dietary energy supply - DES subvencion de intereses superar el punto mas bajo interest subsidy, subsidization bottom out (ofa recession) subvencion equilibradora superavit de explotacion, operacion balancing subsidy operating surplus 409 superaivit de las transacciones invisibles suscripcion de capital sodal, de capital surplus on invisibles actionario equity subscription [IFC] superaivit presupuestario budget surplus suscripcion en aceso de la emisitSn oversubscription [capital markets] superficie agricola Dtil useful farm space - UFS suscripcion uncial initial subscription [IDA] superficie babitable living area suscripeion no sujeta a restrictiooes unrestricted subscription [IDA] superfosfato triple triple superpbosphate - TSP [fertilizer] suscriptor underwriter [securities] superintendencia bancaria, de bancos superintendency (of banks) suspender por etapas, progreaivamente phase out, to superintendente de bancos bank examiner suspension de la ejecucion (dellaudo) stay of enforcement [ICSID] supervision line management; monitoring suspension no oficial de los desembolsos informal suspension of disbursements [IBRO] supervision de un proyecto, de proyectos project supervision suspension oficial de los desembolsos formal suspension of disbursements [IBRO] supervision y reglamentacion prudential supervision and regulation sustancia que agota la capa de o:r.ono ozone-depleting substance - ODS supervisor directo, inmediato line manager sustancias nutritivos(as) nutrients supervisor inmediato next-in-line manager sustitucion de combustibles interfuel substitution suplente Deputy [Dev. Comm.; IDA] sustitucion de importaciones import substitution supresion de puestol redundancy [staffing] sustitucion de recursos para redudr costos input shifting suprimir disestablish, to sustitutivo proxy susceptibilidad de capacitation trainability [EDI-World Bank] sustituto proxy suscripcion al capital, de acciones dd capital capital subscription [IBRO] swap de mooedas currency swap 410 swap de tipos de interil tarifas interest (rate) swap charges [utilities] swap; interumbio de monedas tarifas de agoa swap water charges Sysmin (Senieio eapeeial de fUUUlciamiento tarifas portuarias para productos mineros de los paises ACP y port charges, tariffs ProM) Sysmin (= Special fiDancing facility for ACP and tarifas progresivas OCT mining products) !European Communities] inverted rates [electricity tariffs] tabla de toneDOne8 de datos tarifas seg60. hora de tOnSUDlO panel data set time-of-use (rOU) rates [electricity tariffs] tabla de insumo-produtto tasa adivo(a) input-output table lending rate tala selectiva tasa arantelaria media ponderada selection felling. cutting weighted average tariff rate - WATR. tanque de inmersion tasa bruta de matritula (primaria) dipping tank gross (primary) enrollment ratio - GER tanque septito tasa bruta de mortalidad septic tank crude death rate tanto alzado tasa bruta de natalidad lump sum price crude birth rate - CBR tarea de reparacion de los dailos ambientales tasa tentraJ clean-up (environmental) key money rate; central rate tarifa tasa tompuesta de trecimiento tariff compound rate of growth tarifa [precios] tasa tritita de rentabllidad tariff schedule hurdle rate tarifa de recolecdon de basura(s) tasa truzada household waste collection charge cross rate tarifa minima, vital taBa de ateptacion lifeline tariff acceptance rate (by beneficiaries of a project) tarifa por bloques tasa de adividad block tariff labor force penetration; labor force participation rate tarifa unifonne, a tanto alzado flat rate tasa de attuaIizadon discount rate [project appraisal; securities] 411 tau de adualizacion de equilibrio tasa de fecundidad total crossover discount rate; equalizing discount rate total fertility rate - TFR tau de actualizacion social tasa de importaciones afectadas social discount rate; social rate of discount trade coverage ratio tau de acumulacion tasa de inflacion de dos digitos, de 10°,4 0 mas accrual rate double digit inflation; two digit inflation tasa de analfabetismo tasa de innacion de dOl digitus, de 10% 0 mas illiteracy rate two digit inflation; double digit inflation tasa de asimilacion de conocimientos tau de intem de cuenta learning rate shadow rate of interest tasa de aumento, crecimiento de las tasa de interes efectivo(a) importacione8 effective interest rate import growth rate tasa de interes inmodificable tasa de carga locked in interest rate stocking rate [livestock] tasa de intem negativa tasa de continuidad de utilizacion negative rate of interest continuation rate [contraception] tasa de intem sobre los depositos tau de depreciacion de equilibrio depositor rate of interest; borrowing rate [banks] breakeven (dollar) depreciation tasa de intem sobre los prestamos tau de descuento sombra, de cuenta lending rate shadow discount rate tasa de intem sombra tau de desempleo que no modifica el Divel shadow rate of interest salarial nonaccelerating-wages rate of unemployment - tasa de intermediacion NAWRU intermediation rate tasa de deserdon tasa de los fondos comune8 de inversiones dropout rate [education]; wastage; waste money market rate [education] tasa de matricula tau de desgaste, de eJiminacion, de atricion enrollment ratio attrition rate tasa de mortalidad normalizada segUn la edad tasa de emision age-standardized death rate coupon rate (of a bond) tasa de paricion tasa de mraccion calving rate offtake rate [livestock] tasa de preferencia pura en el tiempo tasa de fecundidad rate of pure time preference fertility rate 412 tua de preferencia social en eI tiempo tua de supenivencia escolar social time preference rate survival rate [education] tua de promocion tua de uso de anticonceptivos pass rate; promotion rate [education] contraceptive prevalence rate - CPR tasa de redescuento tasa del mercado monetario diSCOWlt rate [central bank] money market rate tua de rendimiento tua diferencial de rentabilidad yield rate incremental rate of return tua de rendimiento economico, de rentabilidad tasa impositiva efectiva marginal economica marginal effective tax rate - METR economic rate of return - ERR; economic internal rate of return - EIRR tasa impositiva efectiva media average effective tax rate - AETR tasa de rendimiento financiero, de rentabilidad financiera tasa limite de rentabiIidad aceptable financial rate of return; internal rate offinancial cutoff rate (ofreturn) [projects] return; financial internal rate of return - FIRR tasa marginal de ahorro nacional tua de rentabilidad aceptable, de desistimiento marginal national savings rate cutoff rate (of return) [projects] tasa oficial de descuento tua de rentabilidad de equilibrio bank rate [UK] equalizing rate of return tasa pasivo(a) tasa de rentabilidad economica a la terminacion depositor rate of interest; borrowing rate [banks] completion economic rate of return tasa preferencial tasa de rentabilidad intern a prime rate internal rate of return - IRR tasa preferential a largo plazo tua de rentabilidad requerida, exigida long-term prime rate - LTPR required rate of return - RRR tasa tendencial tasa de rentabilidad social trend rate social rate of return - SRR tasa uniforme, a tanto a1zado tasa de rentabilidad, de rendimiento flat rate rate of return tasa (de interes) vigente tua de repeticion standard rate (ofinterest) repeater rate [education] tua vigente en el mercado tasa de reproduccion neta - TRN prevailing market rate net reproduction rate - NRR tasacion para fines impositivos tasa de retencion tax assessment; assessment for tax retention rate; grade ratio [education] 413 tuaclon periclal tecnologia optima disponible expert appraisal best available technology - BAT~ best practicable means-BPM taBas arancelariol tariff rates teledeteccion remote sensing tasas de intera dave key interest rates teleobservacion remote sensing tasas de intera crecientel step-down, step-up interest rates temario anotado, comentado annotated agenda tecnica de aUlisil de decisiones tomando en euenta mUltipla atributos Temas del Banco Mundial (mRD] multiattnoute decision analysis issues paper tecnica de evaluacion y revision de programas - temporada corta PERT short season (crop) program evaluation and review technique - PERT tendencia tecnica de variabla multiples bias [economy; statistics] multivariate technique tendencia a condiciones de prestamo mas tecnieas de administraciOn tributaria gravosas tax technology hardening ofloan terms tecnieas de reduction de la contaminacion tendencia a muy largo plazo abatement technologies secular trend tecnicas disponibla tendencia alcista, ascendente off-the-shelf technology upward trend teenieas financieras tendeneia deseendente financial engineering downward trend teenieo agricola tendencia bacia eategorias mas altas de agriculturist dasificacion del personal grade creep tecnico especializado subject matter specialist - SMS [agricultural tendencia intrinseea extension] built-in tendency tecnologia apropiada tenedor de bonos appropriate technology - AT bondholder tecnologia avanzada, de vanguardia tenedor de la garantia frontier technology guarantee holder [MIGA] tecnologia de estado sOlido, de semiconductores, teneneia comunitaria de bosques de transistores tree tenure solid state technology 414 tenencias [en, de divisu, oro] tenninOl de intercambio holdings [foreign exchange, gold] terms of trade tenencias en oro tenninOl de referencia gold holdings terms of reference [e.g. consultants] tenencias ofidale8 tennino. de referenda, paru.etros (de un official holdings estudio) terms of reference [study] tension ambientaI environmental stress terraplen bond tension debida a la sequia drought stress terraplea en enrva de Divel contour bund teoria cuantitativa del dinero quantity theory of money terreno aIuviaI, de aluvion floodplain teoria de la eleccion social theory of public choice terreno comprendido, enbierto site coverage teo ria de las colas queuing theory, problem terreno no parcelado unsubdivided plot teoria de los precios en operaciones de arbitraje arbitrage pricing theory - APT testigo drill core teoria de recuperacion de los bosques gap theory tiempo compartido time sharing [computers] teoria del control del dinero impIicito implied money control theory tiempo de inactividad downtime terapia de rehidratadon oral oral rehydration therapy - ORT tiempo de rotacion, del viaje de ida y vuelta turnaround (time) Tercera Ventanilla Third Window tiempo necesario para un serviclo turnaround (time) terminacion tennination tierra de pastoreo rangeland terminacion de las instalaciones mechanical completion [projects] tierras hWoedas wetlands terminadon del derecho a financiamiento del Banco) timbre fiscal graduation [IBRD] revenue stamp terminar tipo activo(a) tenninate lending rate 415 tipo eentral tipo de eambio sombra key money rate; central rate shadow exchange rate - SER; shadow pricing of the exchange rate tipo enazado cross rate tipo de deKuento sombra, de euenta shadow discount rate tipo de alojamiento accommodation type tipo de intem eontable - TIC accounting rate of interest - ARl tipo de eambio a termino, a plazo forward exchange rate tipo de intem de euenta shadow rate of interest tipo de eambio al eontado spot exchange rate tipo de intem efeetivo(a) effective interest rate tipo de eambio eentral central rate [exchange rates) tipo de interes inmodifieable locked in interest rate tipo de eambio eomprador buying rate of exchange tipo de intem negativo negative rate of interest tipo de eambio de euenta shadow exchange rate - SER; shadow pricing of tipo de intem real ex post the exchange rate ex post real interest rate tipo de eambio de equilibrio tipo de intem sobre los depositos equilibrium exchange rate depositor rate of interest; borrowing rate [banks] tipo de eambio de referenda tipo de interes sobre los pristamos reference rate of exchange [MIGA) lending rate tipo de eambio efeetivo tipo de intem sombra effective exchange rate shadow rate of interest tipo de eambio efeetivo nominal tipo de intem variable basado en una eesta de nominal effective exchange rate emprestit08 pendientes pool-based variable lending rate [IBRD] tipo de eambio efeetivo real real effective exchange rate tipo de redeKuento discount rate [central bank) tipo de eambio flotante floating rate tipo ofieial de deKuento bank rate [UK) tipo de eambio intemo modified. Bruno ratio; internal exchange rate tipo pasivo(a) depositor rate of interest; borrowing rate [banks] tipo de eambio mfnimo floor rate of exchange tipo preferendal prime rate tipo de eambio real de equilibrio equilibrium real exchange rate 416 tipo preferencial a largo plazo tonelada de equivalente en earbOn - tee long-term prime rate - LTPR ton of coal equivalent - tce tipo (de interes) vigente tonelada de equivalente en petrileo - tep standard rate (ofinterest) ton of oil equivalent - toe tipo vigente en el mereado tonelada en seeo, secada al aire prevailing market rate air dried ton tipos cruzados dispares toneladas de peso muerto broken cross rates deadweight tonnage - DWT tipos de cambio eoncordantes tonelaje (de registro) bruto unified cross rates gross (register) tonnage - GRT (shipping] tipos de interes clave tonelaje de registro neto key interest rates net register tonnage - NRT titulo tope security cap titulo de eredito tope de eredito financial claim credit ceiling; credit limit titulo de credito [finanzas] tope de los tipos de intera claim interest rate cap [mRD] titulo hibrido, estructurado torre de perforacion petrolera structured security oil (drilling) rig, platform titulo nominativo torta (de semillas) oleaginosa(s) registered security oilcake titulo otorgado por dos universidades torta de estiereol split degree dung cake titulos de organismos federales total de particulas en suspension agency securities, obligations [U.S.] total suspended particulates - TSP titulos del mereado monetario total de sOlidos disueltos - tsd money market paper total dissolved solids - IDS toma (de agoa) total de sOlidos en suspension intake total suspended solids - TSS toma deagoa total neto de los giros standpipe; standpost; hydrant outstanding drawings [IMF] toma de fuena trabajador a nivel de poblado power takeoff - PrO village level worker - VLW 417 trabajador ambulante trMico generado unlocated worker generated traffic trabajador calificado tramitacion skilled worker processing trabajador de extension, de divulgacion tramitacion del (de un) prestamo outreach worker loan processing trabajador de salud de la comunidad tramo impositivo community health worker - CHW tax bracket trabajador desplazado transaccion dislocated worker trade-off trabajador no sindicado transaccion cubierta contra riesgos cambiarios unorganized worker currency-hedged transaction trabajador por cuenta propia, independiente, transaccion mera de mercado autonomo off-market transaction self-employed person transacciones conforme a margenes de riesgo y trabajador semicalificado rendimiento semiskilled worker credit spread trades trabajadores ocasionales transacciones entre grandes bancos y entre casual labor estos y otras instituciones financieras wholesale banking trabajo a destajo jobbing transacciones interbancarias wholesale banking trabajo en el terreno field work transacciones invisibles invisible transactions trabajos de urbanizacion site development transrerencia con, de contrapartida requited transfer traduccion de monedas currency translation transferencia de activos (de una sociedad) a cambio de acciones (de otra sociedad nueva) trMico de detalle spinoff [:financial market] less than carload freight - LCL transferencia de capital trMico de regreso capital transfer backhaul traffic transferencia desde el sistema principal trMico directo downloading through traffic transferencia electronica de rondos trMico en transito electronic funds transfer - EFT through traffic 418 transferencia hacia eI sistema principal transporte maritimo uploading [computers] shipping transferencia inversa de tecnologia transporte multimodal reverse transfer of technology multimodal transport transferencia sin contrapartida (cuentas transterritorial nacionales] cross~rder; ~endtorUU unrequited transfer transterritorial fronterizo; internacional transferencia unilateral [balanza de pagos] ~endtorUU;cross~rder unrequited transfer traslacion del impuesto transferencias [empresas] shifting of tax remittances traspaso de intereses transferencias de capital (no reembolsables) divestiture;div~ent capital grants tratamiento transformacion processing processing tratamiento ambulatorio transformacionde empresas (publicas) en ou~tient~ent socledades comerciales, entidades previstas en la ley de sociedades tratamiento por separado corporatization two-stage. two-step procedure [IBRD] transfronterizo tratamiento superficial cross~rder; ~endtorial surface dressing [highways] transitable trazar serviceable [highways] peg out. to [surveying] transnacional tregoa tributaria cross~rder; transtendtorial tax holiday transnacional tren bloque transtendtorial; cross~rder block train transparencia trenes unidades transparency unit trains transparencia fin triaje fiscal transparency triage transporte de produdos empacados Tribunal de Arbitraje nonbulk traffic AIbitral Tribunal [IeSID; MIGA] transporte entre terminales line-haul [transportation] 419 tribunale.s eompeteD.te.s 0 c:aalquier otra unidad de poado autoridad (para ejecutar laudol) animal unit - AU competent court or other authority (to enforce awards) [leSlD] unidad de ganado tropical tropical cattle unit - TCU; tropical animal unit- trimeltre del d.o ch1I TAU; tropical livestock unit - nu calendar quarter unidad de la eesta de monedU tubereulo feeulento, rafz fecuIenta basket unit starchy root crop unidad de moneda fronteriza tubereulol aUmentariOi border currency (unit) root crops unidad de produecion tuberia de presion, de earp unit of output penstock [hydroelectricity1 unidad del proyecto umbral de pobreza project unit poverty income threshold; poverty line unidad directiva umbral de veto de una minoria managing unit minority threshold [IBRD1 unidad familiar eon intereses en eomun unidad agricola, de explotacion agricola glued-together household farming unit unidad forrajera unidad contable feed unit; forage unit accounting unit unidad ganadera unidad de administracion del proyecto cattle unit project management unit - PMU [IBRD] unidad minima de vivienda unidad de capacitacion prictica core housing; nuclear housing training production unit unidad monetaria unidad de cuenta currency unit numeraire unidad monetaria eompuesta unidad de cuenta basket unit; composite currency unit unit of account - UA unidad monetaria europea - ECU unidad de cuenta basada en una cesta de European Currency Unit - ECU monedu basket unit of account unidad mOm de formacion, de eapacitaeion mobile training unit unidad de eficiencia efficiency unit unidades de 20 pies (de contenedores) - TEU twenty equivalent units - TEU [containers] unidad de extension (agrieola) field unit [agricultural extension] uniOn pooling 420 urbanization utiUdad(es) development earnings urbanizacion utilidades acumuladas land development accumulated profit [accounting] urbanizadon de lotes utilidades en libros plot servicing paper profit urbanizador utilidades encubiertas real estate developer leakage usar un enfoque seledivo utilidades netas [sociedades) target, to net income uso de (los) fondos utilidades netas derivadas de un proyecto application of funds project rent uso de contenedores utilidades no distribuidas containerization earned surplus; retained earnings uso de recursos por el gobiemo utilidades no distribuidas y no asignadas financial claims of government unappropriated (earned) surplus uso final utilidades reinvertidas end use (of a commodity) plowed-back profits uso, utilizacion de (los) fondos utilizacion application of funds drawdown usnario utilizacion de recursos consumer [telecommunications] claim (on resources) usnfructo utilizacion del capital beneficial interest drawdown of equity usufructuario utilizacion escaIonada de energia beneficial owner energy cascading utilidad bruta de operacion, de explotacion utilizar fondos gross operating profit draw, to (funds) utilidad imprevista, extraordinaria vaca de desecho windfall profit cu1ledcow utilidad marginal vado pavimeatado marginal utility submerged bridge utilidad sobre la venta de inversiones valor profit on sales of investments security 421 valor ala par (monedu) valor de opdon par value option value valor a predo de comprador valor de primera clue purchasers'values [national accounts] blue chip; blue chip security valor a predo de productor valor de primera clue producers'values [national accounts] prime bill valor actual de una anualidad constante valor de protecdon present worth of an annuity factor hedge [securitiesnuukd] valor actual neto a predos economic08 valor de reaIizacion net present value in efficiency prices - ENVP current exit value; exit value; net realizable value [UK] [accounting] valor actual, actualizado present value, worth valor de recuperacion, de rescate salvage value valor actualizado (principal) current value valor de reposicion current (entry) value; replacement value; current valor agregado, aftadido en el pais cost [accounting] domestic value added valor de venta forzosa valor atfpico liquidation value; forced sale value outlier valor del producto marginal valor wculado marginal value product constructed value valor en boca de mina valor comerdal, de mereado minehead price nuuket value valor en razOn de la escasez valor contable neto scarcity value net book value; current equity investment; nd investment valor esperado expected value valor contable, en Iibros book value valor estimado de la cartera evaluated portfolio [IFC] valor critico switching value [sensitivity analysis] valor hibrido, estructurado structured security valor de contribucion contribution value [MIGA] valor imputado imputed value valor de existencia existence value valor inidal historical cost valor de liquidacion, de reaIizacion selling value 422 valor intrinseco valores a ma largo plazo de oferta continua ~ existence value COLTS Continuously Offered Longer~Term Securities - valor justo, equitativo de mereado COLTS fair market value valores aereditadOi valor neto actual, actualizado seasoned. securities net present worth, value ~ NPW, NPV valores de primer orden valor neto actualizado gilt~ged securities net discounted value valores de legundo orden valor nominal secondaIy securities face value valores del mereado monetario valor nominal (valores) money market paper par value valores en cartera valor nominativo portfolio securities registered security valores en c:ireulaclon valor oro outstanding securities gold value valores extrabursatiles, fuera de bolsa valor residual neto over-the-counter securities netback value [energy] valores rmancieros valor residual, de desecho financial paper scrap value valores negoc:iables valor social neto actual, aetualizado eligible paper; marketable securities social net present value - SNPV valores normales, corrientes, estandar valor temporal del dinero standard values [trade] time value of money valores publicos, del Estado valor unitario government securities unit value valorizacion valoracion a cotto total appreciation (in value) full cost pricing variable ficticia., artificial, simulada valoracion aduanera dummy variable valuations for customs purposes variable independiente, predic:tiva valores explanatOIY variable; predictor; predicated, paper [financial] independent variable; fixed variate; regressor [statistics] 423 variable independiente, predictiva venta de valores en cartera fixed variate; predictor; independent variable; portfolio sale predictor; predicated variable; predictor venta de venclmientos de pristamos variaclones climaticu inducldas por la sale of loan maturities radiaclon solar radiative forcing venta simple, aI contado outright sale vanaclones estacionales seasonal movements venta sin compromiso de garantia de emision "best efforts" sale vanante alternative [projects] venta sin recurso de rescision, irrevocable no recourse sale variedad pura pure variety; true to type variety [agriculture] ventaja comparativa comparative advantage variedad pura true to type variety; pure variety [agriculture] ventaja comparativa manifiest&, explicita, evidente, etc. velocidad de diseilo, nominal revealed comparative advantage - RCA design speed ventaja relativa vencimiento (de un pristamo, obligaclon, etc.) trade-off maturity (ofa loan, bond. etc.) ventajas sociales, colectivu vencimiento de un dia para otro social advantages overnight maturity ventana venclmientos a menos de un do window [computers] current maturities ventanilla para prestamos concesionarios venta (de una empresa) soft loan window divestiture; divestment ventas venta a cualquier precia, de urgencia merchandising distress sale, selling verificaclon venta a plazas monitoring extended payment plan verificacion de cuentas vent a con prima audit [finance] premium sale verificacion de precios previo aI embarque venta de bienes embargados, seeuestrados pre-shipment price inspection distress sale, selling verification de pneba venta de un credito fuera del consortio test check [accounting] sell down verificar cuentas audit, to 424 vertedero vigencia media de los prestamos landfill average loan life - ALL vertical vigilancia top-down (approach) [projects] monitoring vetiver vinculacion de los salarios con los precios vetiver wage-price indexing via de comercializacion vinculacion regresiva channel [trade] backward linkage via de servicio vinculacion vertical service road backward-forward linkage via navegable vincular waterway peg, to (prices, interest rates) viabilidad de la balanza de pagos vinculo a una combinacion de monedas external viability composite peg [foreign exchange] viaje de observacion, estudio, etc. vinculo ajustable field trip adjustable peg [foreign exchange] viaje en grupo vinculo compuesto group travel [World Bank] composite peg [foreign exchange] viajero freeuente 0 cotidiano (por razones de vinculo movil trabajo, de negocios) crawling peg [rate of exchange] commuter violacion de contrato viajes oficiales relacionados con operaciones breach of contract operational travel virus de la inmunodeficiencia humana - VIR viatico human immunodeficiencY virus - HIV subsistence allowance virus informatico vicepresidencias centrales computer virus central vicepresidencies [ffiRD] vivienda ilegal vida util illegal housing economic life vivienda minima vida util core housing; nuclear housing; dwelling core life (of a project); useful life vivienda semipermanente vida util de un proyecto semipermanent housing project life viviendas multifamiliares vigencia de un prestamo multidwelling houses life of a loan 425 viviendas no sujeta(8) a reglamentaciones zooa de absorcion de carbono unregulated housing carbon sink volumen de desercion zona de absorcion, de disipacion wastage; waste [education] sink (e.g. of greenhouse gases) volumen de material elaborado [manufacturas] zona de captacion [riego) throughput catchment area; catch basin volumen de negoc:i08 zona de captacioD, de influencia [educacion, turnover etc.) catchment area; catch basin volutad de pagar willingness to pay • WfP zona de contratacion de mano de obra labor shed votadon formal formal vote [ICSID] zona de Iibre comercio free trade area votacion 8in convoc:ar a reuniOn vote without meeting zona de oc:upante8 ilegales, sin titulo squatter area, settlement votos bisic08 mis vow de adhesion uniform votes [IBRDJ zona de referenda refereuce zone; target zone [foreign exchange] voWs de adhesion membership votes zona de singular riqueza ecolOgica environmental hotspot xenodivisu xenocurrencies zona de soberania economica exclusive economic zone - EEZ xenomonedas xenocurrencies zona del proyecto project area yacimiento de carbOn coal field zona en desarroDo development area yaclmieato geotermico geothermal deposit zona e:s:propiada right of way yacimiento rentable COIDIlleIdal deposit [mining] zona franca free trade zone - FTZ; bonded area yacimiento submarino, IIW' adentro offshore field zona franca industrial export processing zone - EPZ zona atmosferica aiuhed zona indnstrial industrial estate [UK]. park [USA] zona bajo r i . eontrolado command area [irrigation] 426 zona industrial en regimen de franquicia aduanera bonded industrial estate zona infestada, de infestacion infected area zona silvestre protegida wildland management unit - WMU zona urbanizada serviced area. lot, site zonas silvestres wildlands zonas silvestres administradas wildland management area - WMA zootecnia animal husbandly CIIINA fRANCE ISRAEL HEW ZEAlAND Distributors of World 8an' Puhllr.3Iions EBSeO NZ lid. 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