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The World Bank Glossary

Glosario del Banco Mundial

English-Spanish Spanish-English

Ingles-Espanol 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-DictionariesSpanish. 3. Economics-Dictionaries~Spanish. 4. Spanish language-Dictionaries~English. 5. Finance-Dictionaries. 6. Finance-Dictionaries-Spanish. 7. World Bank-LanguageGlossaries, 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. -Aaccelerated recall [MOV] reintegro acelerado

"II:' loan prestamo "A" Standard World Bank loan. abatement technologies teemcas de reduccion de la contaminacion Technologies designed to reduce (but not eliminate) the amount of pollutants released into the environment, e.g. from a factory. above quota por encima de la cuota above the line (item) (partida) ordinaria A customary balance-sheet or revenue-or-expense position in a financial statement as compared to a below the line item. absolute poor personas, grupos que viven en la pobreza absoluta Those with an average annual per capita income of less than that needed to pay for a minimum consumption basket, based on the food necesary for a recommended calorie intake, and for nonfood needs, consistent with the spending patterms of the poor. This rate will vary from country to country.

accelerated recovery recuperacion acelerada Recovery of currency used in lending operations subject to maintenance or value. Recovery is accelerated at the request of the member, provided that such recovery does not result in a material reduction of the sum of repurchases. acceleration of maturity (of a loan) [mRD] aceleracion, adelanto del vencimiento Declaration by a lender that the outstanding principal is due and payable immediately, together with the interest due, following non-compliance with loan covenants. acceptance, accepting house [UK] casa de aceptaciones Merchant bank in the u.K. specializing in accepting bills or eIchange. acceptance; bank acceptance; banker's acceptance aceptacion banearia A bill or exchange which has been accepted by a banker. acceptance rate (by beneficiaries of a project) tasa de aceptacion

absorptive capacity capacidad de absorcion

accession aceesion; adhesion; introduccion [agricultura]

abstract (of a publication) extracto

accommodation type tipo de alojamiento

academic research jnvestigacion academica

accountability responsabilidad; rendicion de euentas

accelerate a loan engir el reembolso anticipado de un prestamo; engir el reembolso de un prenamo utes de su vencimiento

accounting see also accrual (basis) accounting; business accounting; cost accounting; current cost (value) accounting; double entry accounting; full cost accounting; general price level accounting; inflation accounting; job order accounting; management accounting; managerial accounting; single-entry accounting; social accounting matrix; standard cost accounting; stock accounting

accelerated depreciation depreciacion acelerada, decreciente

4 accounting entries~ entries uientos (contables) The record of a transaction in a book of accounts. accounting period periodo contable; ejerdcio eontable accounting practices prActicu contables accounting price precio de cuenta A price used for accounting purposes (i.e. not a market price). Often used synonymously with shadow price. accounting procedure me.ooo, procedimiento contable, de contabilidad accounting rate of interest - ARI tipo de intere. contable - TIC Discount rate used to convert future values of benefits and costs into equivalent present values. accounting ratio relatiOn de cuenta Ratio of accounting price to market price of a good. accounting unit unidad contable A business enterprise or other economic unit for which a system of accounts is maintained. accounts payable cuenw por pagar Amounts due and payable to third parties for goods and/or services purchased for which payments have not been made. accounts receivable~ receivables cuenw por eobrar Amounts due from others within one year of report date for goods and/or services sold in the normal course of business, but for which payment(s) have not been receiVed.

accrual (basis) accounting eontabiJidad en valores devengados; eontabilidad segUn registro de derecbos adquiridos u obligaciones contraidas A form of accounting wherein all transactions are recognized and recorded at the time income is earned or expenditures are incurred, irrespective of whether or not casb is paid or received. accrual rate tasa de acumuladon The rate at which interest is accrued. In pensions, the rate at which benefits accrue. accruals acumuladones [acreencias; obJigaciones] Revenues and expenditures recognized as earned or incurred and recorded in the '-mancial statement of the periods to which they relate. accrued depreciation; accumulated depreciation depreciacion acumulada The total depreciation suffered by an asset or asset group, based on customary or fairly determined rates or estimates of useful life. accrued income ingresos devengados, acumulados Income earned but neither received nor past due. accrued interest - AI intereses devengados, acumulados Interest earned but not yet due and payable. accrued liabilities pasivo acumulado An amount of interest, wages or other expenses recognized or incurred but not paid. accrued loan commissions comisiones devengadas, acumuladas sobre prestamos Loan commissions earned but not paid. accumulated depreciation see accrued depreciation accumulated profit [accounting] utiUdades acumuladas

accrual see nonaccrual status; overaccruals achievement see educational achievements

5 achievement tests [education] pl1lebas de aprovecbamiento, de progreso escolar, de rendimiento; edmenes Test for measuring learner's present ability in a particular SUbject or skill (as opposed to his potential ability). acid deposition depositos acidos acid rain lIavia acida acid-test ratio; liquid ratio; quick ratio relacion activo disponible-pasivo corriente The standard mRD definition is the ratio of cash plus marketable securities plus accounts receivable plus other amounts readily convertible into cash to current liabilities. Other definitions include ratio of current assets less inventories to current liabilities. ratio of quick assets to current liabilities. ratio of cash plus near-cash assets to current liabilities, and ratio of cash plus accounts receivable plus the market value of selected investments to current liabilities. ACP countries [Lome Convention] paises ACP (Mrica, el Caribe y el Pacifico) European Union countJy classification, consisting of countries that have established a cooperation scheme (the Lome Convention) with the European Union. Consists primarily of the former colonies of the European Union members. acquired immune-
active loan prestamo activo A loan on which disbursement is still being made. activity brief [EDI] resumen de actividades previstas; sinopsis de actividades (no relacionadas con proyectos especificos) actual costs cottos efectivos, reales Amounts determined on the basis of costs incurred as opposed to forecasted costs. actual figures cifras efectivas actuarial lump sum monto global actuarial ad valorem (customs) duty derecbo (aduanero) ad valorem A tax: or duty levied as a given proportion of the value of a commodity or service. It grows with inflation. adaptive research invcstigacion con fines de adaptacion Research which adapts to local conditions. additionality adicionaUdad Used to refer to the provision of extra loan flows to developing countries. additional facility [ICSID] mecanismo complementario

act of state acto de gobiemo Legal theory according to which the courts of one countJy should abstain from passing judgment about the legality of a sovereign act.

Additional Facility Rules [ICSID] Regiamento del Mecanismo Complementario

action plan see mitigation plan

adjustable peg [foreign exchange] vinculo ajustable

active borrower prestatario activo CountJy that still receives World Bank loans.

ruljective law; procedural law derecbo procesal, adjetivo, de forma

6 adjustment ajuSle; reajuste [see also agricultural sector adjustment loan; exchange adjustment; export adjustment loan; financial adjustment; industrial and trade policy adjustment; industrial and trade policy adjustment loan; price adjustment clause; sector adjustment loan; self-adjustment; Structural Adjustment Facility within the Special Disbursement Account; structural adjustment lending; translation adjustment1 adjustment aid asistenda para fines de ajuste admeasurement contract see unit price contract administered arbitration system [ICSID] sistema de arbitraje administrado por una institncion administered price precio administrado, control ado, impuesto The price per unit of commodity where the amount to be paid or received is directly established or substantially influenced by a controlling agent. Such a price is ordinarily the result of planned control. Includes ceiling prices, support prices and fixed rates (government) and base prices, computed prices and millnet or netback prices (industry).

advance deposit requirements (on imports) requisito de depOsito previo, anticipado (a la importacion) advance payment pago anticipado advance payment bond fianza, garantia por pago anticipado A bank bond guaranteeing the advance payment made by the employer to the contractor in case of bankruptcy or other cause. advance payment security prantia por pago anticipado A bank security guaranteeing the advance payment made by the employer to the contractor in case of bankruptcy or other cause. advance procurement action licitacion antlcipada Initiating and processing the procurement, up to the point where bids have been received and evaluated and an award decided upon. It stops short of entering into a contract, to avoid committing the borrower before the Bank funding for the operation is assured. advance repayment reembolso anticipado

administrative machinery sistema, mecanismo administrativo

advanced export payments pagos anticlpados de exportaciones, por concepto de exportaciones

advance account cuenta de anticipos

advanced fanner agricultor innovador

advance contracting contrataci6n anticipada In World Bank loans, procedure whereby the borrower enters into a contract before the signing of the relevant loan agreement.

advanced studies estndios avanzados, superiores, de perfeccionamiento

advance contribution scheme (for IDA-lO) plan de acceso antidpado a las aportaciones (correspondientes ala decima reposicion de los recursos de la AIF) advance deposit deposito previo, anticipado

advanced training formacion avanzada, especializada; especializacion adverse selection [MIGA] antiseleccion de riesgo advocate [ICSID] abogado

7 aeromagnetic survey; airmag survey estudlo aeromagnetico; levantamlento aeromagnetico affiliate institucion afitiada; afiliada affiliate bank banco arlilado affordability accesibilidad f"manciera; capacidad de pago; capacidad de acceso a ••• affordability ratio see housing expenses/income ratio afforestation forestacion; repoblacion forestal; plantaci6n de Arboles age-standardized death rate tasa de mortalidad normalizada segUn la edad Death rate corrected so as to allow for the dfects of the differences in age structure of a population. agency line; credit line on a agency basis [IFC] linea de credito a traves de un agente agency (line) subprojects subproyectos gestionados a traves de agentes agency securities, obligations [U. S.] titulos de organismos federates; emisiones de organismos federales agent see also billing agent; buying agent; extension agent; field agent; fiscal agent; procurement agent agent [bank syndicate] agente agent [ICSID) apoderado agent bank banco correspons&i; banco agente I. Bank acting for a foreign bank. 2. Bank handling administration of loan in a syndicated credit.

agglomeration economies eeonom(u de concentracion Economies of scale resulting from wban concentration. Cf. localization eeonomies, urbanization economies. aggregate agregado; monto global; suma total aggregate demand demanda agregadB, global aggregate measure of support - AMS medida global de la ayuda - MGA A way of measuring domestic agricultural support, proposed by the European Union, whereby all government support provided to a specific farm product is measured. aggregate model modelo agregado, global A mathematical model which models a combined sample instead of several units in a group, e.g. it takes representative factors for a farm instead of modeling a number of farms and the interactions between them. aggregativeplanning planificacion global, agreptiva aging schedule [accounts receivable] estado, imorme de cuentu por cobrar segUn fecba de vencimiento Classification of accounts receivable according to whether they are current or past due. If past due they are classified into categories based. upon the period when they became due. agreed budget plan; contract plan plan presupuestarlo A selective statement of the major tasks and performance indicators - including dates and anticipated costs - to be used in tracking and evaluating quarterly progress during the budget year. A cornerstone of the Bank's budget policy. Both terms are used, though agreed budget plan is the official one. agreement to reimburse see irrevocable agreement to reimburse; qualified agreement to reimburse

8 agribusiness; agroindustries; agro-based industIy; agroprocessing industries agroindustrias agricultural credit intennediaIy intermediario de credito agricola agricultural extension extension agricola agricultural extension officer· ABO agente de extension agricola; extensionista ilgTiculturall!roduction and ~rt (apex) bank banco, caja de credito para la production y las exportaciones agropecuarias ilgTiculturall!roduction and ~rt (apex) cooperative cooperativa de production y exportaciones agropecuarias agricultural sector adjustment loan . ASAL [World Bank] prestamo para ajuste del sector agricola agriculturist agronomo; ttlicnico agricola agro-based industIy agroindustrias agro~nomist

agroeconomista agroforestIy agrosilvicultura agroindustries agroindustrias agroprocessing elaboracion de productos agropecuarios agroprocessing industries industrias de elaboracion de productos agricolas; agroindustrias agrosupport industIy industria de apoyo a la agricultura

aid dependency dependencia de la ayuda exterior Refers to the poorest countries that need foreign aid merely to maintain their present low quality of life. air dried ton tonelada en seco, secada at aire A ton of an agricultural product which has been dried in the air and will therefore weigh less than the same quantity not dried in the air. ainnag survey; aeromagnetic survey estudio aeromagnetico; levantamiento aeromagnetico airshed zona atmosferica An area with similar air mix and affected by the same air pollution sources, thereby having similar air quality. algae, algal bloom proliferation de algas Proliferation of algae due to excessive release of nitrogen and phosphorus (e.g. from fertilizer runoff or detergents). all risk insurance seguro contra todo riesgo alley cropping; strip cropping cultivo en franjas Growing two or more crops in alternating strips or blocks on the same piece of land at the same time. allocated costs costos imputados allocation of loan proceeds asignation de los fondos del prestamo; distribution del importe, de los fondos del prestamo allocation of net income asignacion de los ingresos netos allocation of profits; appropriation of profits asignacion de las utilidades; distribucion de las utilidades

9 allocation of resources asignacion de los recunos; distribucion de los reeunos allotment [budget) asignacion presupuestaria; credito presupuestario

brood sows or boars, five hogs raised to 200 pounds each or 100 hens. annotated agenda temario anotado, comentado

allowance for depreciation see reserve for depreciation

announcement effect efecto de anuncio The change in market price or other economic condition that occurs upon the mere knowledge of something later that will cause the change. For example, if a developer plans to buy land for a shopping center, land prices will rise when his intentions are known.

alternative [projects) variante; opcion [proyectos]; altemativa

Annual Meeting (ICSID] Reunion Anual

alternative bid [procurement] oferta altemativa

Annual Meetings (of the Boards of Govemors) of the World Bank and the International Monetary Fund Reuniones Anuales (de las Juntas de Gobemadores) del Banco Mundial y del Fondo Monetario Intemacional

allowance for contingencies; reserve for contingencies; contingency allowance reserva para imprevistos, para contingencias

alternative energy energia sustitutiva amendment, amending agreement convenio modificatorio amendments to the Articles of Agreement enmiendas al Convenio Constitutivo American short staple cotton; Arabian cotton; herbaceous cotton; Levant cotton algodon herb'ceo amortization schedule plan de amortizacion andropogon Andropogon gayanus Grass used for erosion control.

animal husbandry ganadena; cna de ganado, de animales; zootecnia

animal unit - AU unidad de ganado Measurement based upon the amount of feed eaten and manure produced by an average mature horse or cow or the equivalent. The equivalent is taken to be two heifers over one year, four calves under one year, seven ewes or bucks, two and a half

annualization computo sobre una base anual; anualizacion annuity bond bono perpetuo, de renta vitalicia Bond on which interest is paid indefinitely and which has no maturity date. annuity system [debt service) sistema de pagos iguales de principal e intereses annuity-type repayment terms condiciones de reembolso con palOS iguales de principal e intereses anthracite; hard coal antracita; carbon antracitoso anticipatory rate setting - ARS fijacion anticipada del interes Similar to deferred rate setting but which allows purch&ser to lock in the underlying Treasury yield at one or more points in time preceding the date of the issue. antidumping duty dereeho antidumping

10 apex bank. cooperative see agricultural production and export bank. cooperative

appraisal mission mislon de evaluacion iBicial, previa, ex ante

apex bank. institution banco, inmtucion principal Institution receiving money from the World Bank under an apex loan which it, in turn. onlends to other borrowers.

appraisal team [IFC] equlpo de evaluacion The investment officer, engineer and economist for a project.

apex loan pristamo en pirUnidet en caseada Loan whereby 1BRD lends money to an apex development financial unit which onlends it to participating financial institutions which, in turn. onlend it to industrial companies.

apex report informe presupuestario trimestral Quarterly report issued on the previous quarter's budget. They show the extent to which agreed budget plans are being implemented and highlight areas where corrective action or resource redeployment would be appropriate. application fee [MIGA] comi.ion de solicitud Fee charged for every definitive application for a guarantee filed with MIGA. application for membership solicitud de ingreso application for withdrawal (from loan account or credit account) solidtud de retiro de fondos (de la euenta del pristamo 0 cridito) application of funds empleot USOt utilizacion de (los) fondos applied research investigacion aplicada appraisal (technical and economic) evaluacion inicial (tecnica y econOmica); evaluacion previa; evaluacion ex ante appraisal fee [IFC] comision inlcial (por evaluacwn) Fee levied under various IFC facilities (APDF, MLF), payable by borrower at time of signing relevant loan agreement.

appreciation (in value) valorizacion approach paper documento eS:p6sitivo sobre. .. ; sintesis sectorial Issues paper. appropriate technology - AT tecnologia apropiada The application of a technology appropriate for the factor endowment that exists. As developing countries usually have a large labor force and relatively little spare investment capital, laborintensive industries are appropriate for them. appropriation [budget] autorizacion presupuestaria; credito presupuestario; asignacion presupuestaria appropriation law [US] ley del presupuesto US statute that generally provides authorization for federal agencies to incur obligations and to make payments out of the Treasury for specified purposes. appropriation of profits; allocation of profits asignacion de las utilidades; distribuclon de las utilidades aqua privy letrina de pozo anegado Consists essentially of a squatting plate situated immediately above a small septic tank that discharges its emuent to an adjacent soakaway. Arabian cotton; American short staple cotton; Levant cotton; herbaceous cotton algodon herbaceo Arabian crude see light Arabian crude arbitrage see covered interest arbitrage; tax arbitrage

11 arbitrage pricing theory - APr teoria de los precios en operaciones de arbitraje An economic theory that determines prices of assets and the associated risk premia for each kind of pervasive risk assets face, on the assumption that the expected return of an arbitrage portfolio is

zero. Arbitral Tribunal [ICSID; MIGA] Tribunal de Arbitraje

arm's length principle principio del trato entre iguales, entre compaiiias independientes articles of incorporation escritura de constitucion

arbitration clause chwsula de arbitraje, compromi80ria Clause in contract requiring some or all disputes between the parties to be settled by arbitration, usually final, rather than litigation. Arbitration Rules [ICSID] Reglas de Arbitraje [see Rules of Procedure Proceedings]

arm's length price precio de mercado, de plena competenda Price between corporations under fully competitive conditions (the opposite of transfer price).

ash farming; burn-beating; burning artiga; roZ8; roce Cutting and burning rougb fallow on land to prepare for tillage. assessed income renta presunta; ingre80 imponibJe

for

Arbitration

arbitrator [ICSID] arbitro area development desarrollo subregional area of operational emphasis - AOE campo de atencion especial de las operaciones Sectors which the Bank wishes to give specific focus to. They include poverty reduction and food security; debt, financial intermediation, and adjustment; human-resource development; privatesector development and public-sector management; and environment and naturalresource management. area specific project proyecto en un sector especifico arm's length contract contrato entre iguales, entre compaiiias independientes Contract negotiated on an equal basis between two parties, excluding favoritism or irregularity. arm's length negotiation negociacion en pie de igualdad, entre iguales

assessment for tax; tax assessment avaluo, tasacion para fines impositivos; estimacion de la base impositiva asset and liability management administracion de activos y pasivos [see also liability management]

asset price inflation inflacion de los precios de los activos Steep increase in equity and property prices. asset quality ratios coeficientes de calidad de los activos Ratios that measure the quality of assets of a lending institution. They include ratio of undisbursed loans to disbursements, reserves to disbursed loans and loans to rescheduling countries to total loans outstanding. asset stripping liquidacion de activos When a company takes over another company and sells off for profit the valuable assets of the company taken over, usually because these assets have been undervalued by the stock market.

12 assets aetivo(s); bienes Physical objects or rights which have economic value. [see also capital assets; contingent asset; current assets; domestic asset formation; domestic assets; earning assets; fixed assets; foreign assets; intangible assets; liquid assets; nonperforming assets; performing assets; real assets; saleable assets; self-liquidating assets; sight assets; sundry assets; tangible assets; temporary assets] assignee eesionario assi~entagreement

ac:uenlo de c:eslon assignor eedente associated cost costo lUJOCiado The value of goods and services over and above those goods and services included in the project costs incurred to make the immediate products or services of the project available for sale. Used in US Government practice for computing the benefit-eost ratio at market prices. associated crops, cropping eultivo(s) lUJOCiado(s) Growing two or more different crops on the same piece of land. associated gas go lUJOCiado Gas deposit capping an oil deposit. at the margin en el margen The last point of production or consumption. attachment [legal] embargo preventivo Act or process of seizing property by virtue of a writ or other legal order to satisfy a judgment to be entered in action subsequent to the attachment. Attitude Survey [IBRD] eneuesta de ac:titudes

attrition rate tua de desgute, de eliminacion, de atricion audit see also energy audit; internal audit; passthrough audit; project audit; project performance audit, memorandum, report; tax audit audit, to verifiear, eomprobar euentu; auditar audit [energy] estudio de rec:ursos energetic:os [de un pais); examen del uso de la energia audit [finance] auditoria; verifieac:ion de euentu; eomprobacion de euentu Inspection of accounting or other records in order to provide a basis for third-party evaluation or appraisal. audit [projects] evaluac:ion de los resultados audit; management audit [management] evaluadon administrativa A review and appraisal of any or all partS of management activity. audit mission; evaluation mission mision de evaluacion ex post audit report see project performance audit report audited statement of accounts estado de c:uentu verific:ado, auditado auditor auditor [see also management auditor] authenticated specimen of signature esp&:imen de firma autentieado; faesimil de firma autentieado authority [IDA] see commitment authority authority [legal] autorizacion; faeultad authorized bank baneo autorizado

13 authorized capital stock [MIGA] capital automado For MIGA, it equals one billion Special Drawing Rights. authorized officer runcionario automado authorized positions [personnel] cargos automados authorized share capital capital accionario automado autoconsumption of food produccion de alimentos para consumo propio automatic resetting mechanism [IFC] meeanismo de reajuste automatico (del tipo, de la tasa de interes) In an IFC fixed rate loan, an option under which the interest rate would be reset every five years, based on current interest rates. As a result, the initial loan rate would be around I % less than the normal fixed term rate.

average incremental cost - AlC costo incremental medio [see also long-run average incremental cost] average loan life - ALL vigencia media de los prestamos A composite indicator of how long a loan remains outstanding. For a specific loan it is calculated by dividing the cumulative debt disbursed and outstanding over the total time the loan is outstanding by the principal amount (net of cancellations). avoidable cost costo evitable Marginal cost that a corporation can avoid by adopting one solution rather than another. avoidance see tax avoidance avoided cost eeonomia(s); reduccion de costos award [contracts] adjudicacion

availability [transportation1 disponibilidades (de equipo)

award [ICSID] laudo

availability fee [IFC] comision de disponibilidad Fee set by IFC, initially at 0.25%, which would guarantee a borrower that the rate set for a loan on signing would remain in force when the loan became effective.

awarding committee [contracts] comite de adjudicacion

average earning assets - AEA

rendimiento medio neto, rentabilidad media neta de los activos productivos Average interest return on earning assets less average rate of borrowing costs. average effective tax rate - AETR tasa impositiva ereetiva media Ratio of total revenues collected through the company's income tax to the company's economic profit.

14 of a project by an overall expansion of the production sectors of the economy). -B-

"B" loan prestamo"B" Loan made by the World Bank involving cofinancing. back value ganancia neta Value of oil or gas taking the price paid downstream for the product less the transportation and other costs incurred between the wellhead and the downstream place of sale. background [educationJ antecedentes (profesionales); formacion background noise ruido de fondo background paper documento de antecedentes, de informacion basica backbaul traffic trafico de regreso Goods carried on a return journey. backstopping apoyo; senicios, mecanismos de apoyo Provision of technical support. back-to-back credit credito con garantfa de otro credito back-to-office report - BTO informe sobre mision realizada backup (underwriting) facility mecanismo de suscripcion de reserva backup (underwriting) facility fee comision de garantia de compra backward-forward integration. linkage integracion, vinculacion vertical The "push" (i.e. the extent of demand which a development project generates for the output of all the production sectors of the economy) and "pull" (i.e. the extent of demand generated for the output

backward integration. linkage integracion, vinculacion regresiva The extent of demand which a project generates for the output production sectors of the economy, exercised on the economy by a project or group of them.

development of all the i.e. the push development

bad debt deuda incobrable; deuda de pago dudoso badly performing loan prestamo poco rentable, de escaso rendimiento Loan with poor prospects for future gains and a low rate of return. bag filter; baghouse filter filtro de tela Fabric filter used in industrial operations to recover valuable matter as well as to control atmospheric pollution at the source. bailout, to sacar de apuros bailout loan pristamo, credito de emergencia Loan made to borrower whose ability to service outstanding indebtedness has become doubtful. balance, to (an account) cuadrar (una cuenta) balance carried forward saldo traspasado balance of payments see current balance of payments balance of payments position situacion, posicion de balanza de pagos balance-of-system costs costos de instalacion y suministros

Cost of auxiliary hardware and installation of electrical systems. balance of trade see trade balance balance sheet see consolidated balance sheet

15 balances (cash] saldos en efectivo; fondos en efectivo balances held on a covered basis saldos retenidos para cubrir operaciones a termino, a plazo balancing equipment material complementario Extra equipment (usually small-size) needed to complete a project. balancing item, entry partida compensatoria; contrapartida An entry having the effect of balancing an account. balancing subsidy subvencion equilibradora A subsidy given by the central government to help balance the budget of a local authority. balloon loan prestamo "balloon"; prestamo amortizable en su mayor parte aI vencimiento A loan repayment scheme, under which the last repayment is larger than the previous repayments. In some cases, the term is used to refer to a scheme, under which the whole loan is repaid at maturity. balloon payment pago final, global ballpark figure cifra aproximada; dato aproximado bank acceptance, bill; banker's acceptance aceptacion bancaria A bill of exchange which has been accepted by a banker. bank examiner inspector, superintendente de bancos bank exposure monto de los prestamos bancarios vigentes; monto de los prestamos desembolsados y pendiente8; riesgo de los bancos The total of all investments made by a bank.

"Bank first" principle principio de utilizacion de los fondos del Banco en primera instancia Principle according to which the resources of the Bank are drawn down first. Used, for example, in reference to allocation of mRD funds to IDA where the funds made available by the Bank are used before other funds. "Bank last" principle principio de utilizatiOn de los fondos del Banco en ultima instancia Principle whereby the funds of the Bank are used last. Used, for example, in reference to allocation of mRD funds to IDA where these funds are drawn down only after all other sources of funds have been used. bank money dinero bancario Money on deposit at a bank. bank of issue; issuing bank banco emisor, de emision Bank performance see performance bank rate [UK] tipo, tasa oficial de descuento banker's acceptance; bank acceptance, bill aceptation bancaria A bill of exchange which has been accepted by a banker. banker's markup; banker's spread; gross margin; gross earnings margin (banks] margen (bancario) bruto A bill of exchange which has been accepted by a banker. bankable assurances seguridades aceptables para los bancos bankable project proyecto f'manciable (por el Banco) barchart grMico, diagrama de barras barefoot doctor medico "descalzo"

16 barrels of oil equivalent - boe barriles de equivalente en petroleo - bep The energy equivalent to a barrel of crude oil, i.e. 5.8 million btus. barrels per day of oil equivalent - bdoe barriles diarios de equivalente en petroleo bdep barriers see tariffbarriers

base load [electricity] carga de base, fundamental The minimum load over a given period of time. base load station [electricity] central de carp de base, fundamental A power station where generation is held constant. base year aDo base

barter terms of trade relacion de mtercambio de trueque The relationship between the prices of exports and prices of imports in terms of the value of goods. Net barter terms of trade (also known as commodity terms of trade) is the quotient between an index of expon prices and an index of impon prices. Gross barter terms of trade is the quantity of imports divided by the quantity of exports. When weighted by the volume of exports the net barter terms of trade are called income terms of trade.

baseline costs; base costs costos basicos; costos iniciales [proycetos]

bartered exports exportaciones en regimen de trueque

basic education educacion basica

basal dressing; bottom dressing abono, estercoladura de base

basic health care atencion basica de salud

base; road base [highways] capa de base; base The part of the road structure below the base course and above the sub-base.

basic research investigacion basica

base convention see establishment convention base costs; baseline costs costos basicos; costos iniciales [proyectos) base course [highways] capa intermedia The part of a road structure below the wearing course and above the road base. base (lending) program [ffiRD] programa (de financiamiento) basico The lending program of projects that will definitely be ready for the fiscal year in question.

baseline data datos basicos baseline survey encuesta basica; estudio basico A preliminary survey. basic account [balance of payments] cuenta blisica

basic skills capacidades basic as; competencia basica; conocimientos basicos basic subjects see core subjects basin irrigation; level border irrigation riego por compartimientos Irrigation by division of the field into small units so that each has a nearly level smface. Levees are constructed around the areas forming the basins, within which the irrigation water can be controlled. basis point centesimo de punto porcentual (0,01 8/8) 0.01 percent of yield (e.g. ofa security).

17 basket extractor, exit mechanism [GAIT] mecanismo de salida de cesta GAIT mechanism that triggers new quotas in the textile field semiautomatically within existing restraint agreements. basket unit unidad de Ja cesta de monedas; unidad monetaria compuesta basket unit of account unidad de cuenta basada en una cesta de monedas A unit of account linked to a basket of currencies. bear market Mercado bajista A prolonged period of falling prices. bearer bond bono aJ portador "before-and-after" test prueba de "antes y despues" An analysis of a country or region before and after the completion of a project. beggar-my-neighbor policy politica de empobrecer aI vecino Protectionism, usually with the intention of improving domestic employment but without concern that any such gain in employment in one nation must cause an opposite change in employment in the trading partner. behest project proyecto emprendido a instandas gubemamentaJes bellwether (of economic trends) indicador primario de las tendencias economicas below the line (item) (partida) extraordinaria An out-of-the-ordinary revenue or expense item or a nonrecurrent item requiring a separate entry in a balance sheet. Compares to above the line item. benchmark crude; marker crude [oil] crudo de referenda

Saudi Arabian (gravity API 34 degrees) light crude oil employed as the standard on which OPEC price changes have been based. benchmark jobs empleos de referenda benchmark portfolio cartera modeJo An assessment of the most efficient passive portfolio strategy the Bank could adopt for each major currency if it decided to abandon its active trading strategy while keeping an average portfolio duration of 12 months. benchmark price; marker price [oil] precio de referencia The reference price used by OPEC for oil price changes, based on the price of Saudi Arabian light crude oil. benchmark provisioning rate porcentaje estandar para el establecimiento de reservas para perdidas The standard percentage of outstanding principal balance of non-accrual loans set aside for provisioning. benchmark spread margen estlindar Standard spread in IFC loans which is added to six-month LmOR to determine the IFC loan rate. It is based on risk level and is closely aligned with the market, where available, for the risk and maturity in question and will, in general, reflect risk factors related to the particular investment and any special characteristics of the loan. beneficial interest beneficio contractual; (derecho de) usufructo Profit, benefit or advantage resulting from a contract for the ownership of an estate as distinct from the legal ownership or control. beneficial owner usufructuario A person who does not have title to property but has rights in the property which are the normal incidents of owning the property. Cf. record owner.

18 beneficiary assessment evaluacion con la participacion de los beneficiarios beneficiation [minerals] beneficio Improvement of the grade of ore by milling, flotation, sintering, gravity concentration or other processes. benefit-cost ratio [US]; cost-benefit ratio [UK] relacion costos-beneficios [see also entrepreneurial benefit-cost ratio; private benefit-cost ratio; social benefit-cost ratio] benefit stream serie de beneficios A succession of benefits over several years. benefit taxes [ffiRO] impuestos por beneficios A recovery of costs and benefits in a project, considered necessary beyond those through efficiency pricing, if any, or existing general taxes. benefits [social security] prestaciones

"best effort" project [mRO] proyecto en que se bara todo 10 posible para lograr la participacion de la mujer A regular Bank project where "best efforts" are used to involve women. "best efforts" sale venta sin compromiso de garaotia de emision A new issue which is not underwritten and not purchased as a whole from the issuer, but is sold by securities dealers on a "sell what can be sold" basis. Used in the U.S. securities and syndicated Eurocredit markets. best practicable means - BPM see best available technology - BAT best practice practica optima bettennent levy, tax impuesto de valorizacion; impuesto sobre la plulValia A tax on bettennent (i.e. an expenditure to extend the useful life of an existing fixed asset). beverage crop producto agricola para elaboracion de bebidas

berth see multipurpose berth berthing capacity capacidad de atraque berth throughput capacidad de despacbo de buques The handling of ships in a port. best available technology - BAT; best practicable means-BPM tecnologfa optima disponible In the US, in environmental control, used to refer to environmental control standards which are at least as stringent as the unifonn national technology standards but taking into account costeffectiveness. In other countries, e.g. UK, New Zealand, Norway, the requirements may be more or less stringent than national standards and are legislated for individually by group of facilities or hazards (e.g. large combustion plants). BAT is the US tenn, BPM the UK tenn.

bias [economy; statistics] tendencia; inclinacion; sesgo; predisposicion bid see also alternative bid; examination of bids; invitation to bid; lowest evaluated bid; model bid documents; takeover bid; unsuccessful bid bid bond, garantee, security garaotia, fianza de la oterta Financial or other security supplied by a bidder when the bid is submitted which guarantees that he will not withdraw his bid during the period of bid validity specified on the bid form, will execute the contract fonn, if required, and will supply performance security. If he fails to do any of these the security is forfeit. The security is refundable if the bid is unsuccessful. bid documents see model bid documents

19 bid form modelo de ofelia A document submitted by the bidder for a contract which offers to supply and deliver the goods and/or services which are the subject of the bid, in accordance with the conditions of contract and specifications. In the document the bidder undertakes to commence delivery within a specified amount of days and obtain a performance security. bid guarantee see bid bond bid opening apertura de ofelias Examination of all bids submitted for a contract. The Bank requires this to be done in public, i.e. in the presence of those bidders or their representatives who choose to attend. bid package conjunto de bienes (obras, servicios, elementos) a licitar Usually refers to bids where there is more than one item involved. bid price [contract] precio de ofelia The price that a bidder specifies in the bid form for the delivery of goods or completion of the works.

bidding conditions bases de licitacion; pUego de condiciones de la Iicitacion bidding documents; tender documents documentos de IicitaciOn The collection of documents which specifY the bidding procedures, the technical specification of the goods/works required and contract terms. They include the Invitation for Bids, Instruction to Bidders, General Conditions of Contract, Special Conditions of Contract, Schedule of Requirements (or Bill of Quantities), Technical Specifications, Bid Form, Price Schedules, Bid Security Form, Contract Form and Performance Security Form. bill of exchange letra de cambio bill of lading conocimiento de embarque A contract for the delivery of goods to a buyer. It also represents the title to the goods and a receipt that the carrier has received the goods. [see also through bill oflading] bill of quantities estimacion cuantitativa The specification of the quantity of materials to be used. [see also priced bill of quantities]

bid security see bid bond bid submission; delivery of bids presentacion de ofelias The act of a bidder handing over his bid to the purchaser. bidder (highestllowest) licitante (que somete la ofelia mas alta, mas baja) [see also highest bidder; lowest bidder; postqualification of bidders; prequalification of bidders; qualified bidder; second lowest bidder; successful bidder] bidding see competitive bidding; competitive bidding in accordance with local procedures; component bidding; international competitive bidding; limited international bidding

bill of quantities contract contrato basado en una estimacion cuantitativa A type of unit price contract, with a detailed bill of quantities calculated on the basis of the plans of the consultant engineer or architect. The unit prices are given and the totals worked out. As the contract is carried out, the quantities actually used are measured by a quantity surveyor and the contractor is paid on the basis of these amounts. billing agent organismo agente de cobranza binding; bindings consolidaciones arancelarias In GAIT, the fixing or freezing of certain trading advantages for a three year period.

20 biochemical oxygen demand· BOD demanda bioquimica de ougeno - DBO A measure of the amount of pollution by organic substances in water. It is expressed as the number of milligrams of oxygen required by the micro-organisms to oxidize the organics in a liter of water. biochemical oxygen demand over five days· BODS; five day biochemical oxygen demand demanda bioqufmica de ougeno en cinco diu· DB05 The standard biocbemical oxygen demand test whereby a sample of the liquid is incubated at 20 degrees C for five days. biodiversity diversidad biologica; biodiversidad biogas plant central (productora) de biogas biomass energy energia de biomasa; energia a partir de biomasa biomass (power) plant. station central (generadora) de energia a partir de biomasa; central de biomasa biosphere reserve reserva de biosfera An idea created by the UNESCO Man and the Biosphere Programme, which aimed to establish protected core areas with one or two surrounding buffer zones, with the core areas devoted to sustainable development and habitat restoration. birth control control de la natalidad birth spacing espaciamiento de los nacimientos The deliberate effort of couples to postpone a birth. Also used as a synonym for birth timing.

black economy see parallel economy black market mercado negro, dandestino black money dinero negro Money in the economy obtained through illegal means, such as money from the drug trade. blanket effect efecto generalizado blanket purchase order· BPO orden de compra general A purchase of low value goods and services from a single vendor. blanket release liberacion incondicional, irrestricta Release by Bank member of its 18% currency for indefinite lending or relending. blend country pais que puede obtener financiamiento combinado (del BIRF y la AIF) Country eligible to receive financing from both mRDandIDA. blend financing; mixed financing financiamiento combinado (del BIRF y la AIF) blending (of flows) combinacion de financiamiento blind trust fideicomiso cuya composicion es desconocida por el beneficiario; fideicomiso "ciego" An arrangement whereby a person places some or all financial affairs in trust, beyond his personal control. Used by public officials to avoid conflict of interest charges. Currently used by the President of the World Bank and the President of the United States. block release see day release

bisque clause dumla de modificacion parcial Clause in loan agreement that entitles a borrower to postpone payments of interest and princip3I for limited periods of time in balance of payments difficulties.

21 block tariff tarifa por bloques A tariff in which the charge is based on a series of different kilowatt-hour rates applying to successive kilowatt-hour blocks of given size, supplied during a specified period.

bond; exit bond; floating rate bond; government bond; indexed bond; noncallable; original issue discount bond; outstanding bonds; performance bond; perpetual bond; publicly issued; registered bond; serial bond; straight bond; Treasury bond; warrant bond; zero coupon bond

block trading negociacion de bloques de acciones

bonded area; free trade zone - FTZ zona franca

block train tren bloque A pennanently made-up train.

bonded contractor contratista con fianza, afianzado Contractor who has taken out a surety bond to cover any claims against him.

blue chip; blue chip security accion de primera clue; valor de primera clase blue projects proyectos azules Projects covering coasta1 and marine resources. Cf. brown projects, green projects. blue stained cotton see gray cotton blueprint planning planificacion detallada Board seminar reunion informal (del Directorio) Board of Directors [IFC, MIGA] Junta de Directores

bonded goods mercancias en deposito, en almacen de aduanas Taxable goods held in a government-licensed warehouse pending payment of customs duties and other taxes due. bonded industrial estate zona industrial en regimen de franquicia aduanera bonded warehouse deposito, almacen de aduanas A government-licensed warehouse that holds taxable goods pending payment of customs duties and other taxes due. bondholder tenedor de bonos

Board of (Executive) Directors; Executive Board

rffiRD, IDA1 Directorio Ejecutivo Board of Governors Junta de Gobemadores [Banco, AIF, CFI) Boards of the Bank and the Fund Directorios del Banco y del Fondo

body corporate; corporate body, institution persona juridica boilerplate chiusula tipo, modelo, estandar Standard legal language used in legal documents. bond see annuity bond; bearer bond; bid bond; convertible bond; corporate bond; coupon bond; deep discount bond; development bond; discount

bonding [customs] deposito en almacen de aduanas bonding company compania de fianzas Company which issues performance bonds, payment bonds and other kinds of bonds. bonus prima; bonificacion bonus clause clliusula de bonificacion Clause in a contract which provides for a bonus to be paid to contractors or suppliers for completion of works or delivery of goods ahead of schedule, when this is beneficial to the contracting agency.

22 bonus issue dividendo en acciones bonus share accion recibida como dividendo A share given as a bonus to purchasers of shares. book value valor contable, en libros The net amount at which an asset appears on the books of account. boomtown effect see induced development effect booster pump bomba de refueno Pump installed in front of another pump to ensure satisfactory suction conditions for the main pump or to deliver water from a deep well to a second pump, which develops the final delivery head. booster (pumping) station estacion (de bombeo) de refueno, de rebombeo A pumping station in a water distribution system that is used to increase the pressure in the mains on the discharge side of the pumps. border bias sesgo (por defecto) de margen, de borde In crop evaluations, under-representation of the crops at the edge of the plot, because of difficulty of placing the square used for these estimates. border check irrigation; border ditch irrigation; border irrigation; border strip irrigation; gravity check irrigation; ribbon check irrigation; strip check irrigation; strip irrigation riego por tablares, por eras; riego por graved ad con retenes Flood irrigation in which land is divided into border strips and water is delivered into each strip from a head or field ditch at its upper end. border currency (unit) (unidad de) moneda fronteriza In a project, values measured in foreign exchange but denominated in the local currency. border ditch irrigation see border check irrigation border industry industria fronteriza

border irrigation see border check irrigation border point price see cost, insurance and freight port of entrylborder point price border price precio en (Ia) frontera Price of a tradable good at a country's border or port of entry. border strip irrigation see border check irrigation border taxes impuestos frontenzos Taxes levied at national frontiers. borrower ownership adopcion (por el prestatario) de un programa como propio; autoria; identificacion In adjustment programs, when the borrower adopts the Bank program as its own. Criteria for this include launching of economic reforms preceded or accompanied by productive policy dialogue and operationally-oriented economic and sector work by the Bank, a timely program tailored to countryspecific circumstances and supported by adequate external financing and the borrower endeavoring to build a strong consensus for the program at key points in the administraticn. borrowing capacity capacidad de endeudamiento borrowing cost costo de los emprestitos borrowing from the public oferta publica; emision ofrecida at publico borrowing pool [mRD] conjunto de emprestitos Pool of mRD funded debt used to determine on a semi-annual basis the mRD lending rate. borrowing rate see depositor rate of interest bottleneck estrangulamiento; a veces: congestion

23 bottleneck analysis an81isis de la capacidad Iimitante Type of analysis concentrating on bottlenecks in system, e.g. delivery systems, transportation systems.

brand name drug especifico; especialidad (farmaceutica)

bottom dressing; basal dressing abono, estercoladura de base

Brazil-Yugoslavia Precedents precedente establecido por Brasil y Yugoslavia Special IBRD share allocations to restore a member's shareholding in IBRD parallel to its IMF quotas. Named after the first two countries to request this.

bottom line conclusion; resultado final bottom out (of a recession) pasar, superar el punto mas bajo bottom up (approach) [projects] de abajo arriba Planning whicb is decentralized and which takes place at the development project level. bracket creep, progression [taxation] paso gradual a tasas impositivas mas altas The situation in which incomes rise due to inflation and that rise puts taxpayers in higher income tax brackets so that a larger percentage of their income is automatically paid to the government. bracketing restriccion a la admisibilidad de Iititantes Restriction indicating which bidders may submit a bid, e.g. by stating that only certain bid prices may apply. The Bank does not allow this procedure in international bidding. Brady bond bono Brady Bond created when existing developing countty debt is concerted into new debt. The new bond has a smaller face value or a lower nominal interest rate than the original bond but may be enhanced through, for example, collateralization of principal and/or part of the interest payments. brain drain fuga de cerebros, exodo de intelectuales branch ministty ministerio responsable de una sola industria A ministry responsible for just one industry.

brand name product producto de marca registrada

breach of contract incumplimiento de contrato; violacion de contrato breach of contract risk [MIGA] riesgo de incumplimiento de contrato Repudiation or breach of a specified commitment by the host government to the guarantee bolder in cases where (1) the guarantee holder does not have recourse to a competent, independent judicial or arbitral forum to determine the claims of repudiation or breach, or (ii) a decision by such a forum is not rendered within a reasonable period of time, as defined in the contract of guarantee, or (iii) a final decision cannot be enforced. bread grains cereales panificables breadwinner sosten de la familia breakbulk carga fraccionada Cargo packed in separate packages or individual pieces of cargo, loaded, stowed and unloaded individually, as distinct from bulk cargo. break clause; escape clause; jeopardy clause chiusula de salvaguardia, de elusion, de escape A clause in a Eurocurrency agreement specifYing that, if certain events curtail the lender's activity or the operation of the Euromarkets, other designated actions will come into effect. breakdown desglose; distrioucion

24 breakeven analysis anaIisis de punto muerto, de equilibrio An analysis of expense and revenue factors, often expressed graphically, aimed at detennining at what cost and price points a product, product line or company break even.

bridging facility mecanismo de financiamiento transitorio; servicio de financiamiento transitorio

breakeven (dollar) depreciation (tasa de) depreciacion de equilibrio Depreciation rate of the dollar such that the Bank's headroom is at breakeven point.

broad money dinero en sentido amplio Equivalent to M3, i.e. M2 plus the average of the beginning- and end-of-month deposits of non-bank thrift institutions.

breakeven point punto muerto, de equilibrio The level of product sales at which financial revenues equal total costs of production. At higher volumes of production and sales financial profits are generated. Point where two strategies are equivalent. breed [livestock] raza breeder [agriculture] genetista [especies vegetales]; criador; reproductor [ganaderia] breeder seed semilla de primera reproduccion, del mejorador breeding see plant breeding breeding material material genctico, de mejora [especies vegetales) breeding station [commercial breeding] puesto de monta, de cubricion, de reproduccion breeding stock (animates) reproductores; sementales breeding unit centro de genetica ganadera bridge, bridging loan prestamo transitorio, de transicion, "puente" bridging arrangement, credit disposiciones transitorias; financiamiento transitorio

brief [project] datos basicos de un proyecto

broadcasting (seed, fertilizer) siembra a voleo; aplicacion de fertilizantes a voleo broken cross rates tipos cruzados dispares In foreign exchange, disparity among three or more rates, e.g. if DM 1 = 30 cents and FF 1.5 while FF 1 = 22 cents a Deutschmark will bring 30 cents if converted directly but 33 if converted first into francs and then into dollars. broker corredor (de cambio, de bolsa); agente (de cambio y bolsa) brokerage corretaje brown coal carbon bituminoso; lignito A low-grade coal which commonly retains the structures of the original wood. It is high in moisture, low in heat value and checks badly upon drying. brown projects proyectos marrones, pardos Projects covering the immediate and most critical environmental problems facing cities; they include three main areas--energy use and efficiency, urban and industrial pollution control, and urban environmental management. Cf. green projects, blue projects.

25 Bruno ratio relacion de Bruno The present worth of the domestic currency cost of realizing a foreign exchange saving divided by the present worth of the net foreign exchange saving. A project is accepted if it is less than the official exchange rate in financial analysis or less than the shadow exchange rate in economic analysis. [see also modified Bruno ratio] bubble concept criterio de contaminacion total permisible The concept whereby the total pollution level for an area must be set collectively but the market can allocate that total among competing uses by exchange of emission permits. bubble-up effect efecto de capilaridad, ascendente The opposite of the trickle-down effect. The benefits of a project, change in economic policy benefiting the lowest paid and gradually rising up the scale. bucket latrine letrina de cubo A latrine where the sullage falls into a bucket which can be removed for disposal of the sullage. budget see also capital budget; cash budget; current budget; exchange budget; investment budget; midyear review; operating budget; partial budget; performance budget; program budget; special budget; unit activity (crop) budget; whole farm budget

budget closure cierre del presupuesto Lapsing of authority to incur approved budgetary expenses. In the Bank, this is at the end of the fiscal year for the regular and reimbursable budgets and after three years for capital budgets. budget cuts reducciones presupuestarias budget deficit; budgetary gap deficit presupuestario budget estimates proyecto de presupuesto; estimaciones presupuestarias budget neutral que no afecta aI presupuesto Outputs having no influence on the budget. Budget Planning Framework [ffiRD] parametros de planificacion presupuestaria budget process proceso presupuestario budget surplus superavit presupuestario budgetary aid ayuda presupuestaria, para el presupuesto budgetary gap; budget deficit deficit presupuestario

budget amendment [U.S.] enmienda presupuestaria presidencial

budgeting see full budgeting; planning, programming, budgeting system; zero base budgeting

budget appropriation autorizacion presupuestaria [EE.UU.]; credito presupuestario; asignacion presupuestaria

buffer fund fondo de regulacion, de estabilizacion Fund set up to regulate buffer stocks.

budget authority facultad presupuestaria

buffer stock scheme plan de existencias reguladoras

26 buffer stocks existencias reguladoras Stocks of a commodity held in an attempt to even out price fluctuations in primary commodities. The operators use the stock to mitigate fluctuations in prices by selling from the commodity stock when prices are high and by buying the commodity when prices are low.

built-in tendency tendencia intrinseca bulk, in a granel bulk procurement compra, adquisicion en grandes cantidades, en grueso

build-own operate - BOO construcci6n-propiedad~peraci6n

Type of construction contract whereby a private firm finances some or all of the initial investment and is remunerated directly from revenues earned by the project from selling output to a public utility. The project is kept by the private firm and not transferred back to the government. build-operate-transfer; build-operate-tumover BOT construccion~peraci6n-transferencia - COT Type of construction contract whereby a private firm finances some or all of the initial investment and is remunerated directly from revenues earned by the project from selling output to a public utility. Ownership is eventually transferred to the state or to private domestic investors. build-own-operate-transfer - BOOT

bull market mercado alcista A rising market. bullet issue emision, emprestito reembolsable de una sola vez a so vencimiento bump integrator [highways] integrador de irregularidades Type of machine for measuring uneven road surfaces. bunching acumulacion; congestion [see also debt bunching bunching of maturities acumulacion de vencimientos

construccion-propiedad~peracion­

transferencia - CPOT Type of construction contract whereby a private firm finances some or all of the initial investment and is remunerated directly from revenues earned by the project from selling output to a public utility. Ownership is initially held by the firm but eventually transferred to the state or to private domestic investors. built-in evaluation [projects] evaluacion incorporada en los proyectos built-in stabilizers elementos estabilizadores, automaticos, internos,intrinsecos Relationships which reduce the amplitude of cyclical fluctuation in the economy without any direct action by government, firms or individuals, e.g. a progressive tax which reduces the spending power of consumers in amounts which change faster than incomes, resulting in contractionary tendencies during expansionary periods and vice versa.

bund dique; terraplen [see also contour bund] bunker [coal] carbonera bunker; bunker oil combustible para calderas, barcos A heavy residual fuel oil used by ships, industry and for large-scale heating installations. bunkering aprovisionamiento de combustible [barcos] To fill a ship's bunker with coal or oil. buoyancy [economics] capacidad de reaccion; dinamismo [see also tax buoyancy] buoyant demand demanda intensa

27 buoyant market

buying agent [commodities]

mereado activo

agente comprador; agente de compras

burden sharing

buying rate of exchange

participacion en el financiamiento de los costos, gastos [beneficiarios]; participacion en la carga; distribucion de la carga [donantes]

The rate at which foreign exchange banks and brokers agree to buy foreign currency.

burn beating see ash farming

bylaws

tipo de cambio comprador

reglamento; a veces: estatutos burning [agriculture] see ash farming bush fallow

barbecbo en maleza Poor quality land covered with scrubby vegetation. business accounting

contabilidad de empresa, comereial business community

medios, esferas, circulos empresariales, comerciales business cycle; trade cycle cicio economico; coyuntura business cycle policy

politica coyuntural business expenses

gastos de explotacion, de operacion business line

actividad comereial; ramo business plan plan de actividades (empresariales) business (profit) tax; corporate income tax [US]; corporation tax [UK]

impuesto sobre las utilidades buy-back agreement; take-out agreement

acuerdo de recompra buyer credit; buyers' credit

credito de compradores buyer's market

mereado de compradores; mercado favorable a los compradores

28

~C~

calendar quarter trimestre del ailo civil call for capital; call of capital requerimiento de capital Request for paying in of callable capital. call in a loan, to exigir el reembolso de un prestamo call loan prestamo a la vista A loan on a demand basis (Le. which either the borrower or lender may terminate at will). call money; day to day money; demand money; money at call dinero exigible; dinero a la vista Money deposited in an interest~bearing account, that can be called by the depositor on a day's notice. Often applied to money lent by banks to stock exchange brokers, which may be called at any time.

calling in of a currency retiro de una moneda de la circulacion; desmonetizacion calorie intake ingestion de calorias calving rate tasa de paricion The number of calves born alive in any year expressed as a percentage of the number of females let to the bull in the previous year. cancellation condonacion (de una deuda); anulacion; cancelaci6n Voiding a debt by annulling or paying it. cancelled debt deuda anulada cap tope; a veces: contrato, prestamo con interes tope A floating rate note with an upper limit on the interest rate to be paid. capability {urban development] capacidad

call of capital see call for capital capacity see rated capacity call option opcion de compra Option to purchase designated securities at a predetermined price within a specified time limit. call order contract contrato de servicios ocasionales Contract whereby an entreprise engages staff on a short-term basis but does not know when it needs them so reserves the right to call them when needed. callable (capital, subscription) exigible That part of capital which is not yet paid up and on which payments can be called for. called up (share) capital; paid in (share) capital capital pagado

capital see also commercial capital; domestic capital formation; equilibrating capital flow; equity capital; floating capital; foreign capital; frozen capital; General Capital Increase; gross fixed capital formation; incremental capital-output ratio; loan capital; marginal efficiency of capital; noncash working capital; official capital; overhead capital; paid-in (share) capital; paid~up capital; public (capital) expenditure; quasi~uity; recycling (of capital); return of capital; return on capital; return to capital; risk capital; seed capital; Selective Capital Increase; share capital; social overhead capital; uncalled capital; unimpaired capital; venture capital; volatile capital; working capital

29 capital account cuenta de capital In balance of payments, it measures the short- and long-tenn financial movements which may be associated with the purchase of physical assets, stocks and shares, or with the placing of money on a short-tenn basis. capital adequacy suficiencia deO) capital capital assets; fixed assets; pennanent assets; fixed capital [accounting] activos fijos; capital fijo All tangible assets (movable and immovable) held by an entity and used in its normal operations for the production of goods or services. These assets have a normal life longer than one year and are not normally acquired for resale. capital base base de capital Total capital of an organization, i.e. capital plus reserves. capital budget presupuesto de capital A budget which is limited to showing planned expenditures and sources of funds for purchases of capital goods. In the Bank, one of three budgets, it is for funds used to incur costs that result in capital assets being created in the balance sheet. Includes computing and office technology equipment, buildings, building renovation, furniture and other equipment costing more than $50,000. capital consumption allowance reservapara depreciacion An entry in the national income accounts which reflects the depreciation of equipment and machinery within a given period of time. Usually based on tax reports of depreciation. capital cost costa de inversion capital deepening aumento del capital con respecto aI trabajo Action which increases the relative value of capital in relation to labor (see capital widening).

capital deepening investment inversion orientada a aUlDentar la eficiencia de la produccion y reducir los costos Investment aimed at increasing production efficiency and lowering costs. capital-deficit oil exporter exportador de petrileo con deficit de capital capital efficiency productividad del capital; rentabilidad del capital capital endowment dotacion de capital capital equipment; capital goods bienes de capital, de equipo Production goods, i.e. instruments of production such as buildings, machinery, equipment, etc. rather than iterns for immediate consumption. capital expenditure; capital outlay gasto(s) de capital; inversion en capital fijo capital flight; flight of capital fuga de capitales capital flow; capital movement movimiento, tlujo de capital capital formation formacion de capital capital gain ganancia de capital; plusvalia capital gains tax impuesto sobre la plusvalia; impuesto sobre ganancias de capital capital gearing ratio see gearing ratio capital goods; capital equipment bienes de capital, de equipo Production goods, i.e. instruments of production such as buildings, machinery, equipment, etc. rather than iterns for immediate consumption. capital grants transferenclas de capital (no reembolsables)

30 capital impairment reduccion del capital The estimated loss in an investment. capital inadequacy insuficiencia de(l) capital capital inflow entrada, afluencia de capital capital infrastructure infraestructura (economica); capital social basico capital intensity intensidad de capital capital-intensive con gran intensidad de capital; con uso intensivo de capital; con alto coeficiente de capital capital investment inversion (de capital) capital-labor ratio relacion capital-trabajo The ratio at which labor and capital are combined within the production process. Generally labor and capital are measured as flows per unit of time. capital loss perdida de capital capital market mereado de capital(es) The market for buying and selling long-term loanable funds, in the form of bonds, mortgages and the like. Unlike the money market, where short-term funds are traded, the capital market tends to center on well-organized institutions such as the stock exchange. However, there is no clearcut distinction between the two other than that capital market loans are generally used by businesses, financial institutions and governments to buy capital goods whereas money-market loans generally fill a temporary need for working capital. capital movement; capital flow movimiento, f1ujo de capital

capital outlay; capital expenditure gasto(s) de capital; inversion en capital fijo capital-output ratio relacion capital-producto The ratio of the amount of capital to the amount of output produced by that capital. capital position posicion de capital The amount of capital held. capital recovery factor - CRF factor de recuperacion del capital The annual payment that will repay a loan of I currency unit in x years with compound interest on the unpaid balance. Also called the "partial payment factor." The reciprocal of the present worth of an annuity factor. Generally obtained from a set of compounding and discounting tables. This factor permits calculating the equal installments necessary to repay (amortize) a loan over a given period at a stated interest rate. The total payment is a varying combination of both interest and repayment (amortization) of principal. capital-service ratio coeficiente, relacion capital-servicio Contractual service payments on long-term debt plus remitted profits on direct investment divided by exports of goods and services. capital stock capital social, acdonario; capital nadonal [para un pais] capital structure estructura de capital capital subscription [mRD] suscripcion al capital, de acciones del capital capital supply oferta de capital capital-surplus country pais con supedvit de capital; pais superavitario capital transfer transferencia de capital

31 capital widening ampliation del capital; aumento del capital Investment that increases the absolute value of capital (see capital deepening). capital works instaladones fisicas capitalized expenses gastos capitalizados; costos capitalizados An item of cost usua1ly charged to profit and loss but, because related to a period of construction, added to a capital-asset account. capitation approach [health financing] sistema de capitacion capitation tax; poll tax; head tax (impuesto de) eapitacion capture (e.g. of public services) captacion The use of a significant amount, e.g. of public services or resources by relatively narrow special interests.

carried interest [petroleum industry] participaeion pasiva A fractional interest in oil and gas property, usua1ly a lease, the holder of which has no personal obligation for operating costs, which are to be paid by the owner or owners of the remaining fraction, who reimburse themselves, therefore, out of production receipts. carrying capacity (of the Earth) capaeidad de absorcion The ability of Earth to absorb emissions and waste. carrying capacity [pastures] eapacidad de carga; capaeidad de sustento; capaeidad ganadera The amount of feed available from a pasture area, generally stated in animal units. carrying capacity [transportation] capacidad de acarreo carrying cost (of capital); charge of capital

costo de inactividad del capital The interest on debit balances.

capture fishery; harvest fishery pesca Fishing for wild fish, normally from a boat, as opposed to aquaculture, where the fish are bred in a controlled environment.

carrying costs, charges [goods] costo de mantenimiento en existencia The cost of carrying commodities held in a warehouse, such as charges for storage, insurance, haulage and loss of interest on the investment.

carbon fixation, sequestration fijacion de carbono Conversion, through photosynthesis, of atmospheric carbon dioxide into organic form in plants.

carrying gain diferencia positiva The positive difference between the return on a portfolio and its average cost.

carbon sink zona de absorcion de carbono Natural structure, such as a forest, that absorbs carbon dioxide and other carbon-based emissions. carbon tax impuesto a las emisiones de earbono; recargo 0 multa para reducir las emisiones de carbono A tax levied on products that emit greenhouse

gases. career development planmeacion del avance profesional

carrying loss diferencia negativa The negative difference between the return on a portfolio and its average cost. carryover loan prestamo a corto plazo para salvar una dificultad temporal carryovers criditos, saldos que se traspasanj creditos, saldos traspasados Funds unused during a financial year which are transferred to the budget for the following financial year.

32 cascade tax impuesto en cascada A tax levied at several stages of the manufacturing process. case study estudio de un caso practico, de casos practicos cash advance anticipo de caja cash balance; cash holdings; cash in hand; cash on hand sal do de, en caja Cash in immediate possession represented by coin, paper money and negotiable checks and other paper commonly accepted for immediate credit by a bank in a deposit of cash. cash-based budget planning planificacion presupuestaria en valores de caja, en efectivo Budget planning based on actual cash outlays for the budget, rather than for a fixed amount of items, with allowances for cost increases.

cash deficit deficit de caja cash economy economia moneta ria cash expenditures gastos en efectivo cash flow flujo de fondos; corriente de fondos; liquidez; flujos de caja A narrow definition for funds flow, restricted to cash or cash equivalents. Sometimes used synonymously with funds flow. cash flow system of taxation sistema impositivo con deduccion de gastos efectuados en el mismo aiio System of taxation whereby all expenditures are deducted from the income base in the same year as they are incurred. cash forecast previsiones de caja

cash (basis) accounting contabilidad segiin registro de caja; contabilidad en valores de caja A fonn of accounting wherein transactions are recorded only as cash is paid or received. Related financial statements are usually restricted to a summary of receipts and payments.

cash generation; internal cash generation; internally generated funds recursos propios; recursos provenientes de las operaciones

cash basis, on a segiin registro de caja

cash holdings see cash balance

cash budget presupuesto de caja An estimate of cash receipts and disbursements for a future period, cash requirements at various points within the period, and cash on hand at the end of the period. cash buybacks recompras en efectivo cash crop cultivo comercial A crop sold directly on the market as compared to one which is fed to animals or otherwise used but not sold.

cash grant donacion en efectivo

cash income ingresos monetarios, en efectivo cash inflows afluencia de fondos; entradas de fondos cash in hand see cash balance cash input [accounting] aportacion, aporte en efectivo The cash component of an investment, as compared to the capital, labor, etc. component cash input [agricultural projects] in sumo de fondos en efectivo An input into a project used to produce an output in the fonn of cash.

33 cash management gestion de caja Control and use of liquid assets. cash market see spot market cash on hand see cash balance cash payment pago al contado; pago en efectivo cash position situacion de efectivo, de liquidez cash projections proyeccion del flujo de fondos casual labor trabajadores ocasionales; mano de obra ocasional catalytic converter convertidor catalitico A device installed in motor vehicle exhaust systems that reduces the emIssIons of hydrocarbons and carbon monoxide. catalytic role funcion catalizadora The way a project encourages other potential cofinancers to join in the project. catch basin; catchment area cuenca de captacion; zona de captacion [riego]; zona de captacion, de influencia [educacion, etc.] catch crop cultivo intercalado, intermedio A quick-growing crop, planted and harvested between two regular crops in consecutive seasons or between two patches of regular crops in the same season. catchment area; catch basin cuenca de captacion; zona de captacion [riego]; zona de captacion, de influencia [educacion, etc.]

categorical grant; targeted grant donacion para fines especificos, para un fin especifico Grant given by central government for specific purposes. Categoxy I countries [ffiRD] paises de la Categoria I Industrial member countries. Categoxy IT countries [ffiRD] paises de la Categoria n Developing member countries. cattle on the hoof ganado en pie Live cattle. cattle unit unidad ganadera Unit for measuring number of animals - cattle 1, sheep = 1, goat = 0.05, fowl = 0.01, pig = 0.2-0.4. [see also tropical cattle unit] caucus (of countries at Annual Meetings) grupo ceiling price precio tope, maximo The maximum price which may be charged, regardless of what price would be reached through the natural forces of supply and demand. center pivot sprinkle irrigation riego por aspersion con pivote central Type of irrigation which consists of a central pivot linked to a water supply and a long arm extending from this central pivot which sprays water on crops, often with subsidiaxy arms extending from the major one. centrally-managed costs costos, gastos centralizados Costs which are the responsibility, for budgetary purposes, of the institution as a whole, as opposed to those that are the responsibility of individual units (see unit-tnanaged costs). centrally planned economy (country) economia de planificacion centralizada; pais con economia de planificacion centralizada

34 central rate [exchange rates] tipo de cambio central

channel [trade] conducto, cauce, via de comercializacion

central vicepresidencies [ffiRD] vicepresidencias centrales Vicepresidencies in ffiRD responsible for the central research and operations support functions.

channel, river caucc, lecho, canal de un rio

certificate of deposit certificado de deposito Certificate of an interest-bearing time deposit with a bank.

charge; lien [legal] cargo; gravamen; embargo preventivo chargeback cargo al usuario

certified seed semilla certificada The progeny of breeder, select, foundation or registered seed so handled as to maintain satisfactory genetic purity and identity.

charge number [currency pool] base de c8lculo de la tasa de interes An intennediate variable used to calculate currency pool interest, it is determined by revaluing each day's current dollar-equivalent balance to the present using the product of the duality revaluation factors between that day and the present, with the sum of these daily revalued balances representing the charge number.

ceylon cotton; tree cotton; Siam cotton; China cotton algodon arbOreo

charge of capital; carrying cost (of capital) costo de inactividad del capital The interest on debit balances.

chain index indice en cadena An index number derived by relating the value at any given period to the value in the previous period rather than to a fixed base.

charges [utilities] tarifas; cargos

certificate of payment recibo; comprobante de pago

chart see bar chart; chart of accounts; construction progress chart; flip chart; flow chart; performance chart; process chart; progress chart; scatter chart

chair, constituency of an Executive Director [World Bank] pais(es) representado(s) por un Director Ejecutivo; a veces: jurisdiccion

charter (of a company) escritura de constitucion; escritura social

chair representing ... [World Bank Executive Directors] representante de •••

charter party - clp contrato de f1etamento A contract between shipowner and charterer for the carriage of goods or hire of vessel for a period of time.

changes clause [US] clausula de modificacion unilateral A clause in a contract giving a contracting officer the right to make unilateral changes to a contract, provided that the changes are within the general scope of the contract.

chart of accounts plan de cuentas A systematically arranged list of accounts applicable to a specific concern giving account names and numbers, if any.

changes in working capital statement see statement of changes in financial position

cherry picking seleccion de 10 mejor

35 chief economist economista principal (Olicina Regional)

claim (on resources) utilizacion de recursos

child mortality mortalidad en la nioez [uno a cuatro aDos de edad] [see also infant mortality]

c1aused bill of lading; dirty bill of lading conocimiento de embarque con reservas, objeciones A bill of lading that has been endorsed by the shipowner as the goods described in the bill do not conform to what is offered for shipment, e.g. package missing, goods damaged, etc.

China cotton~ Ceylon cotton; Siam cotton; tree cotton a1godon arbOreo chlorofluorocarbon - CFC clorofluorocarbono - CFC churn factor oficinas en alquiler temporal Leased space to handle demand surge and space modifications. cistern flush latrine letrina de cisterna y sifon Latrine where the water for flushing comes from a cistern. civil commotion conmocion civil Events which have all the characteristics of a riot but which are more widespread and of longer duration, without, however, attaining the status of civil war, revolution. rebellion or insurrection. Covered by MIGA under the war and civil disturbance category. Cf. riot. civil service administracion publica; cuerpo de funcionarios publicos civil works~ public works obras civiles claim reclamadon; demanda; exigencia; derecbo; afirmacion; etc.; acreencia [banca]; (titulo de) credito [finanzas] [see also financial claim; financial claims of government] claim [mining] denuncio; concesion

clawback provision chiusula de suscripcion preferente Clause in an underwriting agreement for a security that restricts the issue to a certain group, e.g. domestic buyers, till demand from that group is satisfied. clean bill of lading conocimiento de embarque sin reservas, objeciones A bill of lading which has no superimposed clause(s) expressly declaring a defective condition of the packaging or goods. clean coal carbon limpio, libre de impurezas Coal produced by a cleaning process. clean fuel combustible no contaminante Fuel that causes little or no pollution clean-up (environmental) (tarea de) reparadon de los daDOS ambientales; remediar los daDOS sufridos por el medio ambiente; limpieza (del medio ambiente) clearance autorizacion; compensacion [cbeques]; despacbo aduanero; aprobacioo; espacio libre; luz [entre cuerpos); despeje [transporte] [see also slum clearance; tax clearance] clearing [agriculture] desmonte; desbroce

36 clearing house cAmara de compensacion [bancos); centro de intercambio de informacion An organization set up by financial institutions agreeing to initiate and receive among themselves electronic funds transfers authorized by their customers. client country pais solicitante; pais que recurre a los senicios del Banco clinker clinquer; clinker [fabricacion de cemento)

out are divided among a limited group of members, in order to save fees. club loan prestamo concedido por un club bancario, por un consorcio Loan whereby, instead of one bank being designated lead bank and others comanagers or underwriters, the various functions these carty out are divided among the members, in order to save fees. cluster analysis anaIisis por conglomerados, grupos A statistical procedure for arranging a number of objects in homogeneous subgroups based on their mutual similarities and hierarchical relationships.

closed--end investment company, fund [US]; investment trust [UK] sociedad de inversion con numero de acciones fijo Investment company with a fixed number of shares outstanding. The shares represent an interest in the fund's portfolio. New shares may not be issued.

cluster audit evaluacion ex post combinada OED audit of several operations together in one audit in order to analyze critical issues in a wider sector or country context.

closely-held corporation empresa con pocos accionistas A corporation whose stock is held by a small group, usually with an agreement that if a member of the group desires to sell any part of the ownership, it must first be offered to the other members of the group.

cluster sampling muestreo por conglomerados, grupos When the basic sampling unit in the population is to be found in groups or clusters (e.g. human beings in households) the sampling is sometimes carried out by selecting a sample of clusters and observing all the members of each selected cluster.

close of business - c.o.b. cierre de las actividades

coal-based fuel combustible denvado del carbOn

closing date fecha de cierre

coal field yacimiento de carbOn

closing stock [livestock] numero de animales aI final del· periodo contable Number of animals held at the end of an accounting period.

coal fired power station central electrica de carbOn, que utiliza carbOn como combustible

closure of the proceeding [ICSID] conclusion de los procedimientos club deal operacion concertada por, con un club bancario, consorcio Loan whereby, instead of one bank being designated lead bank and others comanagers or underwriters, the various functions these carty

coal gasification gasificacion del carbOn coal liquefaction Iicuefaccion del carbOn coarse grain(s) cereaIes secundarios Cereal grains used to feed livestock.

37 coastal shipping eabotaje

collateral garantia

coastal state estado ribereilo, costero

collateral financing financiamiento eon garantia

coastal strip country pais de Iranja litoral estrecha Country consisting of a small strip of land with an outlet to the sea. Examples include Gambia and Togo.

collect call~ transfer charge call; reverse charge call lIamada de eobro revertido

codetermination~ comanagement~ management participation system cOgesDon; coadministracion; sistema de participadon en la gestion, administracion System which gives employees the right to be represented in the decisions of a corporation.

co-exposure [insurance] riesgo conjunto cofinanc(i)er cofinandador cofinancing cofinandamiento coinsurance coaseguro(s) Insurance where a number of insurers share the risk or where insured and insurer share the risk. [see also qualitative coinsurance~ quantitative coinsurance] coke oven gas gas de homo de coque coke oven plant coqueria coking coal earbOn coquificable Coal which can be converted into useful coke that must be strong enough to withstand handling. colead manager (banco) eodirector [emisiones de bonos] Lender ranking next to lead manager in a Euroloan.

collection of data recopilacion de datos collection of taxes recaudacion de impuestos collective self-reliance autosuficienda colectiva; confianza de la colectividad en sf misma Term used to describe the economic independence of the developing countries from the industrial countries and economic cooperation among the developing countries. Embodied in the Arusha Programme for Collective Self-Reliance, 1979. collegial management administraeion eolegiada Management system based on the manager being supported by an advisory committee (consisting of senior staff) which helps him in his decision-making. collusive oligopoly oligopolio eolusorio Oligopoly where participants act as a cartel. collusive tendering licitation eolusoria coloan prestamo eofinandado A coftnanced loan. comanagement; codetermination; management participation system cogestion; coadministradon; sistema de participation en la gestion, administradon System which gives employees the right to be represented in the decisions of a corporation.

38 combined cycle [energy] cicio combinado Designation of a power plant that uses two technologies to generate electricity. Usually applied to gas-turbine and steam-turbine combinations. combined heat and power - CHP produceion eombinada de ealor y eleetrieidad command-and-control instrument, regulation meeanismos ofieiales de eontrol Government issued regulations, bans or other control mechanism. command area [irrigation] zona bajo riego control ado An area which could be profitably irrigated or has effectively been irrigated. command economy; controlled economy; directed economy eeonomfa dirigida An economy in which a significant amount of end results is due to the deliberate decision of government bodies rather than to consumer choice plus forces of supply and demand. commercial bank banco eomereial, privado commercial bills; commercial paper efectos eomereiales; papel comercial; papeles de comereio Promissory notes normally having a maximum maturity of 270 days sold by companies or institutions to raise cash for purposes of working capital. A major borrowing instrument for first-class borrowers in the U.S. and Canada. commercial capital capital eomereial, en eondieiones de mereado commercial conditions eondiciones de mereado commercial debt deuda eon los baneos eomereiales, privados commercial deposit [mining] yaeimiento rentable

commercial energy energia eomereial commercial, commercialized GDP

pm eomereial

The gross domestic product of commercial activities, i.e. excluding invisibles, services, etc. commercial lending prestamos, flnuciamiento en condiciones eomereiales Lending not always at market rate but under normal market conditions (e.g. as regards maturity, reimbursement) (see market-related lending). commercial paper see commercial bills commercial production produeeion a escala eomereial commission, to eneargar; encomendar; poner en servieio commissioned company empresa comisionista; eompaAia eomisionista [emisiones de bonos] Agent in Japan which acts for the mRD (or other non-Japanese financial institutions) in the issue of bonds on the Japanese market. commitment authority; authority [IDA] faeultad para eontraer eompromisos The authority that IDA has to make credit commitments based on the amount of resources it has received or had committed from donors. commitment charge, fee eomision por eompromiso, por inmovilizacion defondos A fee paid by a borrower to a lender in the period between approval of a loan and disbursement of the loan. Intended to reimburse the lender for the cost associated with meeting a disbursement request on demand. Usually stated as a percentage of the loan amount approved and much less than the interest rate charged for the loan commencing with disbursement.

39 commitment deflator deflactor de los compromisos A deflator which translates Bank commitments into constant dollars. commodity producto basico, prima rio; bienes [see also core commodities; international commodity agreements; international commodity organizations; non-food agricultural commodity; primary commodity; self-targeting (commodity)] commodity agreement acuerdo, convenio sobre un producto basico, primario commodity assistance asistencia en especie commodity loan pre.tamo en especie commodity producing countries, sectors paises, sedores de pl-oduccilm primaria

companion crops cultivos simbioticos A crop sown with another crop on the same land, often to increase returns from the first crop, e.g. by attracting predators of pests of the primary crop. comparatio [staff compensation] comparatio (la> A statistical measure which shows the relationship of average salaries of a given population to the midpoint(s) of the applicable salary range(s). comparative advantage ventaja comparativa compensation indemnization; remuneration; compensation compensatory damages indemnizacion compensatoria Damages to compensate an injured party for his actual loss and/or irijury and no more, as opposed to nominal damages and punitive damages.

commodity trade comercio de produdos basicos, primarios

competent court or other authority (to enforce awards) [ICSID] tribunales competentes 0 cualquier otra autoridad (para ejecutar laudos)

common share; common stock; ordinary share; equity accion ordinaria Units of ownership in a public corporation.

competing claims (on resources) competencia por la obtencion de recursos

communication hub centro de comunication community facilities; social infrastructure instalaciones comunitarias; infraestructura social community health services servicios comunitarios de salud community health worker - CHW trabajador de salud de la comunidad; agente de salud comunitaria commuter viajero frecuente 0 cotidiano (por razones de trabajo, de negocios)

competitive bidding Iicitacion publica competitive bidding in accordance with local procedures; local competitive bidding - LCB licitacion publica segUn procedimientos nacionales, anuneiada local mente; Iicitacion publica nacional Competitive bidding advertised locally and in accordance with local procedures. Used where foreign competition is unlikely to be attracted. competitive market mereado de competencia, competitivo complementarity complementacion; aspectos complementarios The provision of funds from extra sources. Used to refer to cofinancing arrangements.

40 complementary financing financiamiento complementario Form of cofinancing whereby the lead agency (e.g. the Bank) in addition to making its own loan for an investment project or program, could participate in a commercial bank loan for the same project or program with the sales of participations being pre-arranged (i.e. before the financing is executed). complement control control de la dotacion de personal Management imposed constraints on the number of staff at certain grades. completely knocked down - CKD completamente desmontado Components of a piece of machinery that have not been assembled. completion certificate (of a project) certificado de terminacion completion coefficient coeficiente de semanas-personal basta la aprobacion del proyecto Staffweeks per project from identification to approval, excluding dropped projects.

composite peg [foreign exchange] vinculo compuesto; vinculo a una combinacion de monedas composting produccion de abonos a partir de desecbos compound [West Africa] recinto (ocupado por una familia eItensa) compound fertilizer; mixed fertilizer fertilizante compuesto A formula or mixture of fertilizer compounds such as nitrogen, phosphorus and potassium, in definite proportions. compound interest interes compuesto compound rate of growth tasa compuesta de crecimiento compounding factor factor de interes compuesto What an initial amount of 1 becomes when growing at compound interest.

completion economic rate of return tasa de rentabilidad economica a la terminacion The rate of return on completion of a project.

comprehensive auditing evaluacion, auditoria general, integral, a fondo Auditing going beyond financial auditing into evaluation and examination of other non-financial aspects of projects.

component (of a project) elemento; componente

comprehensive insurance segura contra todo riesgo

component bidding oferta parcial Bidding for part of a contract instead of a whole contract.

comprehensive planning planificacion global, integral

composite currency unit unidad monetaria compuesta Currency units denominated in a basket of currencies. The two main ones are the Special Drawing Right (SDR) and the European Currency Unit (ECU). composite mission misi6n multidisciplinaria

comprehensive school escuela diversificada, polivalente In the United States, a secondary school that includes both general education courses and specialized fields of study in its program and thus offers academic, commercial, trade and technical subjects. In the United Kingdom, a non-selective secondary school providing all types of education for all or most of the children in a district.

41 comptroler contralor An accountant in charge whose technical skills and professional interests are confined to a single organization or organizational group and who has been given that title by the management of the organization(s).

concertina reduction reduccion de las tasas mhimas de cada tramo arancelario, del arancel Method of reducing a tariff structure by reducing the top rate at each step of the transition to the next highest level, leaving the lowest rates unchanged.

compulsory saving ahorro forzoso

concessional; concessionary concesionario; en condiciones concesionarias, muy favorables

computable general equilibrium (CGE) model modelo computadorizado de equilibrio general A mathematical model developed by the World Bank to model national economies. Used in providing projections and aiding policy analysis as it is able to analyze the effect on a country of project results, macroeconomic factors, etc. computer see mainframe computer computer aided design· CAD diseiio con ayuda de computadoras computer aided manufacture· CAM fabricacion con ayuda de computadoras computer language lenguaje de programacion de computadoras computer virus virus informatico computerized computerizado; informatizado concealed unemployment; covert, disguised, hidden unemployment desempleo encubierto, oculto, disfrazado concentration ratio coeficiente de concentracion Percentage of total sales or output accounted for by largest firms in a country. conceptual design diseiio conceptual

concessional, concessionary aid asistencia, ayuda en condiciones concesionarias, muy favorables concessional, concessionary element factor, elemento concesionario, de donacion concessional flow flujo, corriente (de fondos) en condiciones concesionarias concessional terms condiciones concesionarias, muy favorables concessionary; concessional concesionario; en condiciones concesionarias, muy favorables Conciliation Rules [ICSID] Reglas de Conciliacion [see Rules of Procedure for Proceedings]

Conciliation

concurrent indicator indicador contemporaneo A statistic which has no value for predicting purposes because it changes at the same time as the economy in general, e.g. many types of sales will peak out and bottom out simultaneously with overall economic conditions. conditionality condicionalidad Conditions attached to financing, often used to refer to IMF financing, e.g. upper credit tranche limits.

42 conditions of effectiveness condiciones de entrada en vigor condominial sewerage system sistema de alcantarillado "en condominio" Shallow, small-diameter sewers laid at flat gradients run through backyards, receiving flows from short lengths of house connections before making a single, "block" connection to the public sewer. confinned letter of credit carta de crMito confirmada Fonn of irrevocable letter of credit whereby the correspondent bank of 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. May be used as performance security. confonned copy ejemplar autenticado; copia autenticada Copy of a legal document which is certified as authentic. connection [electricity] conenon de servicio consent (to jurisdiction) [ICSID] consentimiento (a la jurisdiccion) consequential damages dailos indireetos Damages resulting from a breach which could have been reasonably foreseen. conservation see energy conservation consideration, for a; valuable consideration, for a titulo oneroso consideration [legal, economic] contraprestacion; compensacion; bonorario; pago Something given, done or forebome in return for the promise or act of another party. consolidate maturities, to consolidar los vencimientos consolidated balance sheet balance (general) consolidado

A balance sheet in which the assets and liabilities of a controlling company are combined with the corresponding items of the organizations it owns or controls in such a manner as to disclose the financial position of the related companies as though they were a single financial unit. consolidated income statement estado consolidado de ingresos y gastos A statement combining the income statements of two or more associated enterprises as a single economic unit. consolidation, land concentracion parcelaria consolidation (of companies) fusion (mediante fundacion de una nueva empresa) consortium (for a country) consorcio (de coordinacion de la ayuda a un pais) conspicuous consumption consumo suntuario t de ostentacion constant dollar budgeting presupuestacion en dolares constantes Budgeting where expenses are adjusted for changes in the purchasing power of the dollar, caused by price changes. Cf. current dollar budgeting. constant elasticity of substitution - CES elasticidad constante de sustitucion Elasticity of substitution which is linearly homogeneous. constant energy intensity intensidad constante de utilizacion de energia constant prices precios constantes constituency, chair of an Executive Director paises representado(s) por un Director Ejecutivo; a veces: jurisdiccion constituent(s) of an Executive Director pais(es) representado(s) por un Director Ejecutivo; a veces: jurisdiccion

43 constituent subdivision or agency (of a Contracting State) [ICSID] subdivision poiftica u organismo publico (de un Estado Contratante)

consumer subsidy equivalent - CSE equivalente de subsidio at consumo Measures the implicit aggregate tax on consumers generated by agricultural policy.

constructed value valor calculado

consumer surplus excedente del consumidor

construction allowance asignacion por construccion Allowance paid to those subject to involuntary resettlement under a Bank project for income foregone while the resettlers build their houses.

consumption bundle consumo What is consumed by an individual, population.

construction progress chart grlifico de ejecucion de las obras construction sector sector, industria de la construccion consulting firm firma consultora, de consultores consumables bienes fungibles, de con sumo consumer [telecommunications] usuario; abonado consumer credit credito a los consumidores consumerdenrutnd demanda de los consumidores consumer durables bienes de consumo duraderos consumer goods bienes de consumo consumer price precio aI consumidor consumer price index - CPI indice de precios aI consumidor consumer subsidy subsidio a los consumidores; subvencion a los consumidores

consumption conversion factor - CCF factor de conversion basado en el consumo In evaluating project benefits, a factor used to adjust welfare change in border prices, based on the expenditures of the average consumer, when benefits accrue to consumers. consumption economy economia de con sumo contact farmer [agricultural extension] agricultor de enlace A farmer that has been selected in an agricultural extension scheme who will assist in spreading new practices to most farmers in the area quickly. containerization uso de contenedores; contenedorizacion contingencies imprevistos contingencies, physical asignacion para exceso de cantidades f'sicas contingencies, price asignaci6n para alzas de precios contingency allowance; reserve for contingencies; allowance for contingencies reserva para imprevistos, contingencias contingency mechanism [IMFlWorld Bank} mecanismo de emergencia A joint scheme between the Bank and Fund to assist troubled economies initially applied to Mexico.

44 contingency plan plan para situaciones impreviltas contingent asset activo contingente An asset the existence, value or ownership of which depends upon the occurrence or nonoccurrence of a specified event or upon the perfonnance or nonperformance of a specified act. contingent commitment [IFC] compromiso contingente [CF1] contingent interest inteRs condicional, contingente contingent liability pasivo contingente An obligation which is conditional upon the finalization of certain transactions or may arise in consequence of a future event now considered possible but not probable. contingent obligation obligaci6n contingente Type of mRD "B" loan whereby the loan is initially financed entirely by the commercial lender with mRD having a contingent commitment to finance at a given date (Le. at the end of the duration considered "normal" by the commercial markets for the specific borrower) the remaining balance of principal (if any), if the commercial lenders choose not to finance this amount. contingent reserve reserva para imprevistos Retained earnings appropriated in anticipation of possible future losses or expenses. continuation rate [contraception] tau de continuidad de utilizaci6n The rate of continuation of use of contraceptives after a certain lapse of time. continuing education; lifelong education; recurrent education educaci6n permanente continuous cropping cultivo constante, continuo

Continuously Offered Longer-Term Securities COLTS valores a mas largo plazo de oferta continua COLTS Program of securities issued by the World Bank. starting in 1986. Buyers can obtain maturities from 3 to over 30 years as they choose. The program is indefinite (hence continuously offered) and of a longer term than the Bank's previous discount note system. It extends the range of paper available in the medium-term note market (initially medium-term meant 2-4 years but now covers up to 30 years or more). contour bund dique en curva de nivel; terraplen en curva de nivel contour farming cultivo en curvas de nivel contraceptive prevalence rate - CPR tasa de uso de anticonceptivos contract see arm's-length contract; breach of contract; breach of contract risk; call order contract; cost-plus fixed fee contract; cost-plus percentage fee contract; fixed cost contract; fixed term contract; lump sum contract; man-month contract; open-ended contract; percentage (fee) contract; performance contract; product in hand contract; production-sharing contract; program contract; risk contract; schedule contract; schedule of rates contract; "slice and package" contract; subcontract; take-and-pay contract; take--or-pay agreement, contract; time-based contract; turnkey contract; unit price contract contract documents documentos contractuales contract out, to dar en contrato; contratar contract performance cumplimiento de contrato contract plan see agreed budget plan contract price monto del contrato; precio contractual

45 Contracting State [ICSID, MIGA] Estado Contratante

conventional terms condiciones corrientes, come rei ales, de mercado

contractioruuy policy politic a de contraccion

Convention on the Settlement ofInvestrnent Disputes between States and Nationals of other States [ICSID] Convenio sobre Arreglo de Diferencias Relativas a Inversiones entre Estados y Nacionales de Otros Estados

contractor see bonded contractor; prime, principal, main contractor; subcontractor contractual savings institutions instituciones de ahorro contractual Institutions dealing with contractual savings, i.e. savings that have to be made such as pensions. contribution value [MIGA1 valor de contribucion The initial value of the resources contributed by the guarantee holder to the investment project. contributory school; feeder school; preparatory school escuela preparatoria School where students go on to a specific higherlevel school, for which it is the feeder. control lucha contra [enfermedades, desastres, etc.]; control; ordenacion; etc.

convergent indicator jndicador coincidente conversion at par conversion a la par conversion forest bosque destinado a convertirse en••• Forest assigned for conversion to agriculture or other nonforest use. convertible adjustable stock accion ajustable y convertible convertible bond bono convertible A bond that, at the option of the holder, may be exchanged for another asset, generally a fixed number of shares of common stock.

controlled economy see command economy controlled flooding anegamiento control ado controlled plot; control plot parcel a testigo, de control controlling interest participacion mayoritaria Ownership of a corporation in excess of fIfty percent. Can also be used for ownership of less than fifty percent if the remainder of the stock is distributed among many owners. conurbation conurbacion conventional energy energia de fuentes convencionaIes

convertible debenture loan investment [IFC] prestamo representado por obligaciones convertibles [CFI] convertible release (of 18% currency) [ffiRD] liberacion con autorizacion de convertibilidad Release by Bank member of its 18% currency for lending or relending, with permission granted to the Bank to exchange the 18% currency for the currency of any other member. cooperative program programa de cooperacion core see drill core; dwelling core core commodities [ffiRD] principales productos basicos, primarios 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 eurrieulo, plan de estudios eomun A curriculum design in which one subject or group of subjects becomes a center or core to which all the other subjects are subordinated.

core working hours see core hours corporate body. institution; body corporate persona juridica

core departments see core ministries

corporate bond bono de una empresa privada, de una compaiUa, de una sociedad anonima

core fund [GEF] recursos basicos The basic funding for the Global Environment Facility.

corporate finance gestion financiera de las sociedades

core hours; core (working) hours horario (de trabajo) basico core housing; nuclear housing unidad minima de vivienda; vivienda minima A basic structure, often just the shell, built for low-income families. Additional facilities are provided by the family themselves, often in self-help groups. core inflation innacion blisica The basic level of inflation over a period of time (e.g. a decade) as opposed to temporary fluctuations in the rate. core ministries, departments ministerios de hacienda y de planificacion The key ministries, i.e. planning and finance. core process [IBRD] actividad basica Includes country, economic and sector work; country programs; the project cycle and project evaluation. core project proyecto basico A project based on certain key activities as designated by the Government. core staffing dotacion minima de personal core subjects; basic subjects [education] materias basicas A subject that is considered so essential that everyone must have instruction in it.

corporate income tax [US]; business (profit) tax; corporation tax [UK] impuesto sobre las utilidades corporate management gestion, direccion de la institucion, empresa corporate restructuring reestructuracion empresarial, de empresas corporate sector sector empresarial The business sector. corporate stocks acciones corporate structure estructura social corporate tax impuesto a las sociedades; impuesto a las empresas corporation tax [UK]; business (profit) tax; corporate income tax [US] impuesto sobre las utilidades corporatization transformacion (conversion) de empresas (publicas) en sociedades comerciales, entidades previstas en la ley de sociedades Conversion of an economy from state-owned enterprises to joint stock companies. correction see monetary correction correspondent bank banco corresponsal

47 corrugationinigation riego por corngacion; riego por sureos pequenos y proximos An inigation method whereby water flows down the slope in small furrows, called corrugations or rills. Used for inigating uncultivated close growing crops such as small grains or pasture on steep slopes. cost accounting contabilidad de costos A specialized field of accounting which deals with the ascertainment, classification, recording, allocation and summarization of the various elements of cost of production, operation and maintenance (including overheads) of an entity, using accounting and costing principles and methods and techniques. cost and fee contract see cost-plus (fixed fee) contract cost-benefit analysis anMisis de costos-beneficios cost-benefit ratio [UK]; benefit-cost ratio [US] relaci6n costos-beneficios cost center centro de costos An organizational unit for which accounts are maintained containing direct costs for which the head of the center is accountable. cost-effective eficaz en fund6n de los costos; eficiente y de costo minimo; eficiente y de costo mas bajo cost-effectiveness eficacia en funci6n de los costos cost estimate estimacion de costos; presupuesto cost, insurance and freight - CIF 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.

cost, insurance and freight (CIF) port of entrylborder point price precio c.i.f.lpuerto de entrada cost-of-living differential factor coeficiente de ajuste por diferencias del costo de vida cost overrun costos superiores a los previstos; sobrecostos cost-plus contract contrato al costo mas bonorarios, mas poreentaje A contract in which the parties agree that the contractor will submit bills for payment based on costs actually incurred plus either a fixed fee or a percentage of those costs. cost-plus (fixed fee) contract - CPFF; cost and fee contract contrato al costo mas bonorarios (fijos) A contract in which the parties agree that the contractor will submit bills for payment based on costs actually incurred plus a fixed fee. cost-plus percentage (fee) contract; cost-plus percentage of cost contract - CPPC contrato al costo mas un porcentaje (honorarios) A contract in which the parties agree that the contractor will submit bills for payment based on costs actually incurred plus a percentage of those costs. cost-plus pricing system sistema de determinacion de precios en funcion del costo mas honorarios cost price precio de costo cost pricing determinacion del precio de costo; fijacion de precios en funci6n del costo

48 cost-push inflation inflacion provocada por el a1za de los costos A type of inflation caused largely by wage-price spiral, that consists of upward pressure on the cost of production caused by wage increases, followed by price increase, then further wage increases and soon. cost recovery recuperacion de costos cost reimbursable contract contrato con reembolso de costos Contract which provides for payment of allowable incurred costs, to the extent provided for in the contract. Cf. cost-plus fixed fee contract, costplus percentage fee contract. cost sharing participacion en los costos; distribuci6n de los costos cost-sharing fee [APDF] comision de participacion en los costos Set of fees charged by the Africa Project Development Facility to project promoters in order to have them share in APDFs costs in preparing the project. cost underrun costos inferiores a los previstos; infracostos costing determinacion de costos cottage industry industria familiar, casera, artesanal Council of Governors (MIGA] Consejo de Gobemadores counsel [ICSID] consejero counterfactual hipotesis; casu hipotetico An economic what if{ Used to imagine what might have happened to an economy if some condition was different from actual reality, e.g. if inflation were only x%, then...

countermemorial [ICSID] contramemorial In proceedings before ICSID, a response to the memorial submitted by the requesting party which outlines the basis for the case. counterpart agency organismo de contrapartida counterpart funds fondos de contrapartida Local currency payments by the ultimate beneficiaries of a Bank loan or IDA credit that accumulate in the hands of the government or an intermediary, in advance of payments due to the Bank or the Association, as the case may be. counterpart staff personal, funcionarios de contrapartida countertrade comercio compensatorio The reciprocal and contingent exchange of goods and services specified by contract, with each flow of deliveries being valued and settled in monetary units. countervailing duty derecbo compensatorio An import duty established specifically to restore the competitive position of businesses that are put at a disadvantage by a tax which raises their costs. countries in nonaccrual status paises excluidos del regimen de contabilidad en valores devengados country assistance management - CAM administracion de la ayuda a los paises country economic and sector work - CESW estudios econ6micos y sectoriales de paises country exposure [IBRD) compromisos por paises; prestamos (a un pais) desembolsados y pendientes The extent to which a financial institution has lent money to one country. country loan [IBRD] prestamo para programas de un pais, de paises

49 country study estudio sobre un pais, paises country WID action plan plan de accion nacional relacionado con la funcion de la mujer en el proceso de desarrollo Plan, at country level, intended to provide an operational framework, based on sectoral analysis, for targeting and designing Bank assistance in a manner that will effectively reach women and improve both their contribution to economic development and the benefits they derive from it. country-wide project proyecto de ambito national coupon bond bono con cupon coupon equivalent yield rendimiento equivalente a un interes nominal The yield obtained from the difference between the purchase price and the face value of a short-term noninterest-bearing instrument, expressed as a percentage, determined by the difference divided by the purchase price. coupon rate (of a bond) interes nominal; tasa de emision Interest to be paid regularly on the face value of a bond or other long-term debt instrument. course see base course course interchange [education] curso de elementos intercambiables In education, a course with interchangeable features. covenants [loan agreements] estipulaciones cover see plant cover coverage cobertura; campo de aplicacion; alcance cover crop; nurse crop cultivo protector, de cobertura A companion crop grown to protect some other crop sown with it, as small grain is sometimes seeded with clover.

covered interest arbitrage arbitraje de intereses con cobertura Investing dollars in an instrument denominated in a foreign currency and hedging the resulting foreign exchange risk by selling the proceeds of the investment forward for dollars. covering memorandum memorando de transmision covert, concealed, disguised, hidden unemployment desempleo encubierto, 04:ulto, disfrazado crawl [noun] deslizamiento (de un tipo de cambio dentro de una banda) crawling peg [rate of exchange] vinculo movil; paridad movil; ajuste gradual del tipo de cambio A form of international exchange in which monetary authorities make frequent small changes in the rate at which the nation's monetary unit officially trades with others. In some cases the change is triggered when certain conditions are met. creative financing financiamiento innovador, imaginativo; form as novedosas de financiamiento Financing using unconventional means, e.g. special swaps, etc. credit see also back-to-back credit; financial credit credit account [IDA] cuenta del credito Account opened by IDA on its books in the name of a borrower to which the amount of a credit is credited.

credit arrangements acuerdos de credito credit balance see unspent credit balance credit ceiling; credit limit limite, tope de credito credit crunch restriction pronunciada del credito

50 credit facilities sistemas, mecanismos, servicios de credito, crediticios credit-in-kind credito en especie credit limit; credit ceiling limite, tope de credito credit line [IFC] linea de credito Credit line (also known as equity line or agency line) set up by IFC in favor of an intermediary which would draw on the line to make loan and equity investments for IFC's account. credit line on an agency basis; agency line [IFC] linea de credito a traves de un agente credit multiplier multiplicador del credito The ratio of change in the volume of lending by a group of deposit-taking financial intermediaries (especially banks) to the change in reserve assets which initiated the change. More commonly, it denotes the ratio of change in bank deposit liabilities caused by the increased extension of credit, to the initiating change in reserve assets. credit rating c1asificaci6n del cridito, de creditos, crediticia credit spread trades transacciones conforme a margenes de riesgo y rendimiento Investment in higher risk paper on the one hand (in the case of the Bank this includes agency securities, Eurobonds and off-the-run securities) and current government securities on the other. The yield spread between the two is monitored. When the higher risk paper is trading at a higher than normal yield spread, the higher risk security is bought and the lower risk security sold; when the spread narrows, the trade is reversed. credit squeeze; credit tightening restricci6n del credito credit standing reputaci6n en materia de credito; credito The current creditworthiness of a borrower.

credit tightening; credit squeeze restriccion del credito creditworthiness; financial standing capacidad crediticia; solvencia The likelihood of a borrower to pay back a debt, based on past credit performance. creep see grade creep creeping inflation inflacion progresiva critical consumption level - CCL nivel critico de consumo - NCC Poverty line at which additional consumption changes are equally valuable to investment. critical path method - CPM metodo del camino critico Type of planning method which shows the interrelationship in sequence of all the activities involved in undertaking a project. The network of activities highlights those operations or activities which are critical for the successful completion of the project within the scheduled time scale. cronyism favoritismo; preferencia por los amigos; amiguismo cropping intensity intensidad de cultivo cropping pattern sistema de cultivo crop-cut method metodo de los cuadrados de rendimiento Method for estimating agricultural production, consisting of taking a few small subsamples in the form of small squares, selected by using a grid, and extrapolating from these results. crop production producci6n agricola, de cultivos crops cultivos; cosecbas; productos agricolas crop tree 'rbol de cultivo, aprovecbable

51 crop year campana; ano agricola cross-border; transterritorial transnacional; transterritorial; transfronterizo; a veces: internacional

cross rate tipo crozado; tasa crozada The exchange rate between currencies A and C which is derived from the rate between A and B and the rate between B and C. [see also broken cross rates]

cross-bred progeny [livestock] animales de croza The results of crossing two different breeds or varieties.

cross-reference clause c1ausula de referencia A clause in a Bank loan document referring to a loan by a commercial bank.

cross-classification doble c1asificacion; c1asificacion crozada

cross-sectional analysis anlilisis transversal An analysis on the basis of a cross section, i.e. the same things at the same time as opposed to a time series, i.e. the same things at a different time.

cross-conditionality clause c1ausula de condicionalidad recfproca A clause in a World Bank/IMF loan agreement that makes action affecting one organization apply to both organizations. cross-country studies estudios comparados entre paises cross-default clause c1ausula reciproca en caso de incumplimiento A clause in a loan agreement specifying that default on any other loans to the borrower shall be regarded as default on this one. cross-effectiveness clause chiusula reciproca de entrada en vigor A clause in a loan agreement that states that the agreement only comes into effect when the cofinance loan comes into effect. cross elasticity elasticidad crozada A measure of the influence of a price of one good on the demand for another. crossover discount rate; equalizing discount rate tasa de actualizacion de equilibrio The discount rate that equalizes the net present value of two streams of benefits and/or costs. cross-placements colocaciones crozadas cross price elasticity elasticidad-precio crozada Same as cross elasticity.

cross-sectional data [econometry] datos transversales A set of data involving observations taken at one point in time. cross section(al) survey encuesta (de seccion) transversal Survey which provides a snapshot of an entire population or of a sample population. cross section sample muestra representativa cross subsidization subvencion crozada; subsidio crozado crosswalk document documento, matriz de referencia crozada, comparacion Document that provides cross references between, for example, two budgets which use different systems of classification. The most common form consists of a matrix which helps the reader to determine where an item in the multiyear planning budget may be found in the annual budget. crowding in atraccion; invasion Occurs where government bonds are sufficiently good money substitutes so that bond issues reduce demand for money balances, leading to an expansionary impact via their effect on portfolio composition.

52 crowding out desplazamiento Any displacement of private economic activity by public economic activity.

currency-hedged transaction transacdon cubierta contra riesgos cambiarios A transaction where assets/liabilities are matched by currency.

crude birth rate - CBR tasa bruta de natalidad Birth rate for an entire population.

currency liabilities pasivos monetarios In national accounts, the liabilities of a country denominated in another currency.

crude death rate tua bruta de mortalidad Death rate for an entire population. culled cow vaca de desecho A cow that has been eliminated from the herd because of disease, low quality, etc. culture fishery piseicultura Fish breeding in a controlled environment. cumulative charge number [currency pool] base de dlculo de la tasa de interes de los desembolsos acumulados; base de c8lculo acumulada The charge number for cumulative disbursements. cumulative letter of credit carta de credito acumulativo; credito acumulativo Form of revolving letter of credit where amounts from unused or incompletely used portions may be carried forward and used in a subsequent period. cumulative write offs anuladones, canceladones acumuladas en libros The total amounts written off since operations began. curb market see over-the-counter market

currency see also border currency; calling in of a currency; composite currency unit; domestic currency; 18% currency; 18% currency out on loan; eligible currency; Eurocurrency market; European Currency Unit; foreign currency; goldpegged currency; bard currency; intervention currency; local currency; major currency

currency mix combination de monedas currency option bond see multiple currency option bond currency pool fondo comnn de monedas A system set up by the World Bank to equalize among all borrowers at any time the risks inherent in fluctuations in the exchange rates of the currencies disbursed and repayable on all Bank loans included in the system. Equalization is achieved by pooling all currencies disbursed and outstanding on participating loans and by expressing the outstanding principal amount of each such loan as a share of the pool. As a result, loan-service obligations on each participating loan are related to all amounts in various currencies disbursed and outstanding on all loans in the system. currency-specific costs costos relativos a mooed as especificas currency swap swap, intercambio de monedas System whereby an institution with funds in one currency converts them into another and enters into a forward exchange contract to recover the currency borrowed. currency transfer risk [MIGA] riesgo de transferenda de moneda One of the covered risks. Defined as "any introduction attributable to the host government of restrictions on the transfer outside the host country of its currency into a freely usable currency or another currency acceptable to the holder of the guarantee, including a failure of the host government to act within a reasonable period of time on an application by such holder for such transfer."

53 currency translation traduccion de monedas Recording in accounts of assets (or liabilities) in one currency when they are actually in another. No actual exchange of funds takes place. The World Bank and IFC, for example, translate all their assets and liabilities into U.S. dollar amounts, regardless of the actual currency in which they are denominated. currency unit unidad monetaria current account deficit deficit en cuenta corriente current account pattern configuracion de las cuentas corrientes current amount see current insured amount current assets activo corriente; activo disponible y realizable a corto plazo Unrestricted cash or other asset held for conversion within a relatively short period into cash or other readily convertible asset or currently useful goods or services. current balance of payments balanza en wenta corriente current blend [IFe) indice combinado de desempeiio de la cartera A rate used by IFC to assist in determining the performance of its loan portfolio, it is based on actual and projected debt-to-equity ratios. current budget presupuesto ordinario, corriente The projection of income and expense at anticipated levels of activity rather than in terms of ideal goals. current cost [accounting] see current (entry) value current cost (value) accounting; current value accounting; value based accounting 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

price index, replacement cost, current entry prices, current exit prices, reproduction cost and discounted present values. Current cost deals with the effects of changes in prices of resources used by the enterprise and is concerned with values to the business rather than costs. current dollar budgeting presupuestacion en dolares corrientes Budgeting where expenses are not adjusted for changes in the purchasing power of the dollar but represent actual prices. Cf. constant dollar budgeting. current (entry) value; replacement value; current cost [accounting] valor de reposicion The amount of cash (or its equivalent) that would have to be paid if the same asset - either an identical asset or an asset with equivalent productive capacity - were acquired currently, computed by applying to historical cost one or more index numbers (= adjusted historical cost) or by substituting for historical prices prevailing prices of equivalent goods and services. current equity investment see net book value current exit value; exit value; net realizable value [UK] [accounting] valor de realizacion The estimated selling price in the ordinary course of business less costs of completion and less costs necessarily to be incurred in order to make the sale. It is often used to determine a measurement of an asset value in terms of the amount of cash or its equivalent expected to be derived from the sale of the asset, net of costs required to be incurred as a result of the sale. current insured amount; current amount [MIGA] cantidad asegurada corriente; cantidad corriente The amount of the guarantee. Some countries use this amount as the basis for compensation. current international payments pagos internacionales corrientes

54 current liabilities pasivo corriente; pasivo exigible a corto plazo Liabilities that are to be paid out of current assets or transferred to income, usually within one year or less. current maturities vencimientos a menos de un aDo That portion of debt falling due for repayment in the accounting year following the date of the balance sheet (i.e. within twelve months of the balance sheet date). current prices precios corrientes current ratio; working capital ratio relacion corriente [America Latina]; coeficiente de soJvencia [Espana] Ratio of current assets to current liabilities. It is the main liquidity ratio. current revenues ingresos corrientes; ingresos fiscales corrientes current terms, in en terminos, cifras corrientes current value valor actualizado (principal) current value see current (entry) value current value accounting see current cost (value) accounting 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

value-added tax or customs duties. The state draws up a bill for the amount in question which the corporation agrees to pay on maturity. customs valuation (practices) (practicas de) avaluo aduanero, de aduana cutoff date [debt] fecba limite cutoff point (for Bank or IDA financing) limite (para la concesi6n de financiamiento de la AIF 0 del Banco) Point at which a country is no longer eligible for Bank or IDA financing. cutoff rate (of return) [projects] tasa de rentabilidad aceptable, de desistimiento; tasa limite de rentabilidad aceptable The rate of interest (commonly the opportunity cost of capital or the accounting rate of interest, Little-Mirrlees method, or the consumption rate of interest, UNIDO method) below which capital investment projects should be rejected. It is often taken to be the opportunity cost of capital. The cutoff rate would be the minimum acceptable internal rate of return for a project or the discount rate used to calculate the net present worth, the net benefit-investment ratio or the benefit-cost ratio. cut-over forest bosque de segundo crecimiento, bosque talado Secondary forest that has already been logged but regrown.

55

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dam see diversion dam; earthfill dam; storage dam

data collection recopilacion de datos

deadwood equities [IFe] capital improductivo, "Iutre" 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 presently valued at less than 1.2 times cost, or whose prospects for future price appreciation are estimated to be poor. dealer see securities dealer

dated information informacion desactualizada day release; block release Iicencia de tiempo completo The system by which a trainee is authorized to be absent from work, usually for one or two complete days a week, with or without pay, in order to attend part-time courses of related instruction and general education constituting part of his training program.

dean (of the Board ofOirectors) decano debenture (bond) bono sin garantia especifica; debenture [EE.UU); bono con garantia de activos [Reino Unido1 l. U.S.: Unsecured bond. 2. U.K.: Loan secured against specific or general assets of a company. [see also convertible debenture loan investment]

day-to-day money see call money days receivable daas de atraso en el pago de las cuentas por cobrar The average number of days overdue of accounts receivable. It is used as an indicator of the efficiency of the commercial operations of a corporation, as it reflects its ability with regard to collection of bills. The Bank target is around 60 days. dead storage (capacity) capacidad no utilizable deadweight (losses) (perdidas de) peso muerto Loss of consumer surplus incurred by buyers and not captured by producers, which is consequent upon an initially competitive industry becoming monopolistic and therefore, ceteris paribus, charging a higher price and selling a lower level of output. deadweight tonnage - OWT toneladas de peso muerto The weight in long tons that a vessel can carry when fully laden.

debt bunChing acumulacion de vencimientos debt burden ratio relacion intereses de la deuda - exportaciones Interest on debt as a percentage of exports. debt cancellation anulacion, condonacion de una deuda debt carrying capacity capacidad de endeudamiento Conversion of debt into equity (see debt-equity swap). debt conversion conversion de la deuda debt -creating que genera deudas debt distressed country pais agobiado por la deuda debt due deuda vencida debt enhancements mejora de las condiciones de la deuda

56 debt~uity conversion; debt~uity swap capitalization de la deuda; conversion de la deuda en capital

debt ratio relacion de endeudamiento Ratio of total liabilities to total assets.

debt~uity conversion fund [IFC] fondo de conversion de la deuda en capital; fondo de capitalizacion de la deuda

debt relief alivio de la carga de la deuda

debt-equity ratio; debt-to-equity ratio; debt-to-capital ratio relacion deuda-capital; coeficiente de endeudamiento Mainly used to describe the ratio of total liabilities to shareholders' equity (net worth). It can also be used to describe the ratio of long-term debt to equity, net long-term debt to equity, total or longterm debt to tangible equity (= equity plus revenue plus capital reserves). All these definitions are used in the World Bank and IFe, so care should be taken in translation to ensure the correct term is used. Other definitions are used outside the World Bank.

debt rephasing; rescheduling of debt; rephasing of a debt; debt rescheduling reprogramacion (de) servicio) de la deuda debt representation letter carta de declaracion de la deuda externa A letter from a member to the Bank outlining the country's external debt. debt rescheduling; rescheduling of debt; debt rephasing; rephasing of a debt reprogramacion (del servicio) de la deuda Debt Restructuring Facility - DRF servicio de reestructuracion de la deuda

debt~uity swap; debt equity conversion capitalizacion de la deuda; conversion de la deuda en capital

debt retirement rescate de la deuda Paying off a debt.

debt financing finaneiacion mediante endeudamiento

debt sales descuento de instrumentos de deuda

debt forgiveness condonacion de deudas, de la deuda

debt service coverage cobertura de servicio de la deuda Ratio of net income after taxes plus interest on long-term debt plus depreciation to debt service.

debt-for-health swaps conversion de deuda en programas de salud Exchanges of developing country debt for assistance for health programs. debt funding financiamiento de la deuda debt outstanding and disbursed - DOD deuda desembolsada y pendiente debt overhang deuda pendiente 1. The total outstanding debt. 2. The total debt that cannot be readily covered by expected growth.

debt-service ratio coeficiente del servicio de la deuda External public debt-service ratio (Le. interest and principal payments) as a percentage of export earnings from goods, nonfactor services, and workers'remittances. debt service requirements obligaciones relacionadas con el servicio de la deuda debt service schedule calendario del servicio de la deuda debt servicing capacity capacidad para atender el servicio de la deuda

57 debt strategy estrategia ante (de) la deuda

deep market Mercado muy activo A very active market.

debt-to-capitaI ratio see debt-equity ratio debt-to-equity ratio see debt-equity ratio

deep sea fishing pesca de altura

debt workout program [World Bank] programa de reestructuracion de la deuda

deep water port puerto de aguu profundas

Debtor Reporting System [World Bank] Sistema de notificacion de la deuda aI Banco Mundial

deepening see capital deepening; capital deepening investment; financial deepening

decapitalize descapitalizar

deepening of the industrial structure modernizacion de la estructura industrial

decision-maker persona responsable de adoptar decisiones

default [ICSID] rebeldia (unicamente en el sentido del Art. 45[2J del Convenio)

decision-making body organo decisorio, de decision

default on obligations incumplimiento de obligaciones

decision-making power facultad decisoria, de decision

defensive expenditures gastos preventivos National accounts concept for expenditure to protect the environment and to combat those undesirable aspects of economic activity that lead to environmental decay, resource degradation and depletion and pollution.

declining balance method; reducing charge method sistema (de amortizacion, de depreciacion) de saldo decreciente In depreciation where the annual charge for depreciation is the amount obtained (a) by applying a fixed percentage to the diminishing balance of the asset account, that is the balance after deducting preceding depreciation provisions; or (b) by applying a diminishing rate to the original cost of the asset. deductible [insurance] franquicia deduction see tax deduction deed of trust escritura de constitucion de deuda; escritura de fideicomiso deep discount bond, note bono de descuento intensivo Bond with relatively low-coupon rate of interest, offered with a discount in excess of what can normally be treated as capital gain by the investor.

deferrable participating loan prestamo participatorio con obligacion contingente de pago de intereses A loan used by !FC whereby the interest paid is linked to the profits of the company. deferred charges, expenses cargos diferidos; gastos diferidos Expenditures carried forward as an asset until they become relevant (such as an advance rent payment of insurance premium). deferred depreciation depreciacion diferida deferred rate and currency setting fijacion diferida de la tua de interes y la moneda

58 deferred rate setting - DRS fijacion diferida del interes Method of locking in a spread over a Treasury benchmark while distributing the rate fixing over several months. TreasUl)' securities are purchased, with the pricing benchmark being the issue at the time the borrowing was launched and the securities are sold when the borrower wants to fix the Treasury yield component of the borrowing cost. The issue spread is locked in at time of issue and the Treasuty yield component of the cost is stripped out. Any decrease in interest rates after the issue date would mean the Treasury notes could be sold at a profit which would reduce the borrowing cost of the issue to a level reflecting the original issue spread and the Treasury yield at the time the Treasury notes were sold. Conversely, any increase in interest rates would mean a loss on the sale of the TreasUl)' securities and an increase in the borrowing cost to a level reflecting the higher TreasUl)' yield. [see also anticipatory rate setting] deferred recovery recuperacion diferida Recovery of currency used in lending operations subject to maintenance of value. Recovery is deferred for any currency outstanding on loan since June 30, 1987. deficiency see vitamin deficiency deficit country pais deficitario deficit financing financiacion con, mediante deficit presupuestario definitive application for guarantee solicitud definitiva de garantia An application for a MIGA guarantee, to be made once investment plans are established. It provides the detailed information with which MIGA will determine investor, investment and project eligibility; the details of the investment to be insured and the types of guarantees desired; the economic and developmental effects of the project on the host country and the basis for confirming the economic viability of the project enterprise. See notice of registration, preliminary application for guarantee.

deflate, to defladar deflation deflacion deflationary gap brecba deflacionaria deflator deflador An implicit or explicit price index used to distinguish between those changes in the money value of gross national product which result from a change in prices and those which result from a change in physical output. [see also commitment deflator; GNP price deflator; implicit deflator; implicit gross domestic product deflator) deforestation deforestacion degree of concessionality medida en que la asistencia es concesionaria, muy favorable degressive scale escala decreciente dehusking; husking descascarar; desbojar delegation of authority delegacion de atribuciones, facultades delink, to [foreign exchange) desvincular delinking [foreign exchange] desvinculacion (de divisas) delinquent taxes impuestos en mora delivered at frontier - DAF entregado en frontera Applies to goods that the seller must deliver to the frontier of the country named in the sales contract.

59 delivered duty paid • DDP entregado con derecbos pagados Applies to goods that the seller must deliver to the buyers' premises.

demerit goods bienes de escaso interes social A merit good in which the merit is negative, e.g. alcohol consumption.

delivered energy energia entregada

demonstration activity operacion, actividad de demostracion

delivery (of a contract) formalizacion; perfeccionamiento

demonstration effect 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 semcio); sistema, red de distribucion, de reparto demand deposit deposito a la vista Deposits payable within thirty days. demand management gestion, regulacion de la demanda Influence over the wants of buyers, usually consumers, e.g. advertising.

demonstration school; laboratory school; model school; practice school escuela de aplicacion; escuela experimental A school attached to a teacher-training establishment in order to allow students to observe experienced teachers at work and to undertake teaching practice themselves. demurrage sobrestadia The money payable to the owner for the delay for which the owner is not responsible in loading and/or discharging after the laytime has expired.

demand money see call money demand note pagare a la vista demand-pull factors fadores de atraccion (dellugar de destino) relacionados con la demanda Factors that attract migrants into another country. demand-pull inflation innacion producida por la (presion de la) demanda A rise in prices brought about by consumers and investors with rising incomes as they compete for a relatively limited supply of valuable goods. demand shift desplazamiento de la demanda dematerialization of manufactures aumento del componente de senicios en los productos manufacturados The phenomenon whereby the service content of manufactured goods is increasing.

dendrothermaI power plant central eh~ctrica dendrotermica denominated in (dollars, etc.) expresado; denominado departmental forces see force account departmentalization [education] departamentalizacion, division de la enseilanza dependency allowance asignacion por cargas familiares, por persona a cargo dependency ratio relacion de dependencia (por edades) Proportion of children and old people in a population in comparison with everyone else. dependent persona a cargo; carga familiar

60 depletion allowance, reserve asignacion por agotamiento; reserva por agotamiento An allowance for exhaustion of a natural resource. deposit see geothermal deposit deposit liabilities obligaciones en, por concepto de depositos depositor rate of interest; borrowing rate [banks] tipo, tasa de interes sobre los depositos; tipo, tasa pasivo(a) The rate of interest paid by banks on deposits. depository bank banco deposita rio A bank that is designated and authorized to accept deposits of funds belonging to the federal government or other government bodies, or funds from other banks which the latter are required by law to maintain as reserve against deposits. depreciation see accelerated depreciation; accumulated depreciation; allowance for depreciation; deferred depreciation; straight-line depreciation

options, as well as over-the-counter swaps, options and similar instruments. design diseiio; idea; creacion; proyecto; plano; modelo; concepto; formulacion; etc. [see also conceptual design; detailed design; engineering design; preliminary design; project design] design capacity capacidad nominal, de diseiio design engineering ingenieria de diseiio design speed velocidad de diseiio, nominal The highest continuous safe vehicular speed as governed by the design features of a highway. design standards normas de diseiio designated forest bosque reservado Forest legally set aside for preservation or production.

depreciation allowance see reserve for depreciation depreciation on a straight line; straight line depreciation amortizacion (depreciacion) lineal, constante, de cuotas fijas depressed industry industria en decadencia, en crisis Deputy [Dev. Comm.; IDA] suplente Deputy Secretary General [ICSID] Secretario General Adjunto deregulate desreglamentar; desregular; Iiberalizar derivative instruments instrumentos derivados A contract whose value changes as prices move in a related or underlying commodity or financial instrument. The term covers standard futures and

Designating Authority (of Panel Members) [ICSID] autoridad que efecttia la designacion designer proyectista; diseiiador desk officer funcionario encargado de un pais desk study estudio documental, de referencia desktop publishing edicion, publicacion mediante microcomputadora despatch money; dispatch money prima, bonificaci6n por descarga rapida The money payable by the owner if the ship completes loading or discharging before the Jaytime has expired.

61 destination taxes impuestos seg1in mere ado final

development period (of a project, of a company) fase. etapa inicial

detailed design, engineering diseiio detallado; estudios tecnicos detallados; pianos tecnicos detail ados

development planner pJanificador del desarrollo

deterrent factor, elemento de disuasion. disuasivo developing island country pais insular en desarrollo development desarrollo; fomento; aprovechamiento; evolucion; preparacion; elaboracion; bonificacion; urbanizacion; expJotacion; mejoramiento; auge; progreso; adelanto; acontecimiento; invencion; creacion; avance; nueva circunstancia; nueva situacion; etc. [see also area development; engineering development; Evaluation Capability Development Program; land development; letter of development policy; management development; manpower development; site development; skills development; staff development; whole farm development; World Development Indicators] development area zona en desarrollo

development planning planificacion del desarrollo deworm desparasitar diagnostically related groups - DRG grupos homogeneos de diagnostico Groups of related ailments for which identical fee schedules can be prepared. diesel fuel; diesel oil (combustible) diesel; gas6leo diesel (fired) power plant planta electrica diesel; central electrica diesel dietary energy supply - DES suministro de energfa alimentaria - SEA Kilocalories per capita per day of food consumption. A standard measure of food intake. dilution see stock dilution

development bank banco de desarrollo, de fomento

diminishing returns rendimientos dec recientes [see also law of diminishing returns]

development bond bono de desarrollo

dip [stockbreeding] baiio

development credit agreement [IDA] convenio de credito de fomento

dipping tank tanque de inmersion

development drilling perforacion de explotacion Drilling in a known producing field as opposed to exploratory drilling.

direct contracting [procurement] contratacion directa Award of a contract without using competition.

development finance company - DFC institucion financiera de desarrollo development finance institution - DFI institucion financiera de desarrollo

direct costing c81culo de costos directos; determinacion de costos directos The process of assigning costs as they are incurred to products and services. direct labour see force account

62 directed credit credito dirigido

disclosure information Iibre acceso a la informacion

directed economy see command economy

discontinuance [ICSID] desistimiento (unicamente en el sentido del Art. 45 del Convenio)

direction of lending distribucion del financiamiento (entre los paises) directly unproductive profit seeking (DUP) activities actividades con fines de lucro directamente improductivas direct overhead budget presupuesto de gastos generales directos In the World Bank, a budget for those overhead expenses controlled by the manager. Include office equipment, direct communications, equipment depreciation, field office costs, supplies and materials. direct shopping [procurement] compra directa Procurement based on direct comparison of price quotations. No bidding documents are used. direct work see force account

discount descuento [see also exchange discount] discount, to [finance] descontar; actualizar discount bond bono descontado Bond selling at a price less than its par value. discount factor factor de descuento, actualizacion How much 1 at a future date is worth today. discount note pagare descontado Note (Le. short- or medium-term bond) issued at a discount from its face value. On maturity, the investor receives the full face value. The discount from par, thus, corresponds to the return on the investment.

dirty bill of lading see claused bill of lading disadvantaged group grupo desfavorecido disbursement deflator deflactor de los desembolsos Coefficient used to convert disbursement amounts into constant dollars. disbursement letter aviso, notificacion de desembolso disbursement officer oficial de desembolsos disclaimer declinacion de responsabilidad

discount rate [central bank] tasa, tipo de redescuento Rate at which a central bank (Federal Reserve System in the U.S.) (re)discounts certain bills for financial institutions. discount rate [project appraisal; securities] tasa de actualizacion Annualized rate of discount applied to debt securities issued below par (e.g. U.S. Treasury bills). [see also shadow discount rate; social rate of discount] discount window [central bank] redescuento

63 discounted cash flow (DCF) method metodo de actualizacion de los ftujos de fondos A type of analysis based on discounting cash flows to the present by a given discount rate. It allows an analyst to take into account the fact that a dollar of benefit received a year from today is not as valuable as a dollar of cost incurred today, for example, because if the cost had not been incurred, the dollar could have been invested, and in a year's time at an interest rate of, say, 10%, the capital would have grown to $1. 10. Because projects vary widely in the pattern of their costs and benefits over time, DCF is necessary to place them on a common present value basis for comparison. discretionary expense budget presupuesto de gastos discrecionales In the World Bank, a budget for those expenses directly controlled by the manager. Include salaries, temporary staff costs, overtime, operational travel, representation, hospitality, consultants, contractual services, internal computing and language services. discretionary income ingreso discrecional Income available after payment of necessaries such as housing, taxation, etc. discretionary liquidity liquidez discrecional The amount of liquidity held by the Bank above the minimum prescribed. discretionary spending gasto discrecional discussion paper documento de trabajo

disguised unemployment; concealed, covert, hidden unemployment desempleo oculto. encubierto. disfrazado dishoarding desatesoramiento Returning an item to either the real flow or the money flow so that it can be circulated, consumed or otherwise used in its intended function. disincentive desincentivo disinflation desinflacion disinflationary desinflacionario disintermediation desintermediacion 1 Shift of funds away from financial intermediaries (commercial banks, etc.) into Treasury bills and other securities. 2. Shift by large corporations away from banks to a parallel market, involving other large corporations. disinvestment desinversion dislocated worker trabajador desplazado dispatch money see despatch money disposable income ingreso disponible disposal see waste disposal

disease see pest and disease control; vectorborne disease; water-based disease; waterborne disease; water-washed disease diseconomies deseconomias Occurs when, as a firm grows larger, management becomes less efficient, raw material costs rise because local supplies are exhausted or for similar reasons. disestablish, to suprimir

dispose (of) for value, to enajenar a titulo oneroso disqualification [ICSID] reeusacion dissaver ahorrador negativo dissaving desahorro; ahorro negativo

64 distance learning, teaching enseiianza a distancia; educacion a distancia Teaching by remote media such as radio or television. distress borrowing endeudamiento forzoso Borrowing in a situation of extreme need when there is no other alternative. distressed loan prestamo (que se halla) en dificultades Loan on which repayment of interest and principal has been severely delayed or completely suspended. distress price precio de necesidad distress sale, selling venta de bienes embargados, secuestrados; venta a cualquier precio, de urgencia distributional weight ponderacion distributiva disutility desutilidad ditch rider; waterman canalero Person responsible for supervising an irrigation area. diversion darn presa, represa de derivacion A barrier across a stream built to turn all or some of the water into a diversion. divestiture; divestment privatizacion; venta (de una empresa); cesion; traspaso de intereses Disposition of an asset or investment by outright sale, employee purchase, liquidation, etc. divestment see divestiture dividend see stock dividend dockage; wharfage; wharfage charges muellaje

documentary credito documental An arrangement where a bank, on behalf of a customer, makes payment to a third party or authorizes such a payment to be made. documentary evidence pruebas documentales dollar budgeting presupuesto basado en los costos efec:tivos Budget planning based on actual cash outlays for the budget, rather than for a fixed amount of items, with allowances for cost increases dollar gap escasez de dolares When the inflow of dollars into the US is high, causing a shortage of dollars on the international market. dollarization dolarizacion domestic asset formation; domestic capital formation formacion interna de capital Gross fixed capital formation plus increase in stocks. domestic content contenido de origen national domestic currency moneda nacional domestic economy economia interna, national domestic finance studies estudios sobre finanzas nacionales domestic preference; preference margin; preferential margin; margin of preference [procurement] margen de preferencia a empresas nationales; preferencia por los productos nation ales Preference given to certain goods and services of domestic origin in a bidding procedure.

65 domestic resource cost - DRe costo en recursos intemos Cost of resources used in products that are not imported. domestic savings morro intemo domestic value added valor agregado, aftadido en el pais The value added to a product by local or domestic activities. donor country pais donante

double shift teaching system ensenanza en doble jomada, de doble tumo System where, normally because of overcrowding, one group of pupils is taught in the morning, the other in the afternoon. double taxation doble tributation, imposition A term widely used to describe double taxation of corporate earnings, once through corporate income tax and again through taxation of corporate dividends paid out of after-tax earnings. Also used to describe taxation paid on income first in one country and then another.

double~y phenomenon fenomeno de la doble tarea (de la mujer) Phenomenon of women being wage-earners and responsible for children and household tasks.

double-weighted borrowing cost [IBRD] costo de los emprestitos con doble ponderation When calculating borrowings, the IBRD takes the amount of the loan, multiplies it by the interest rate, and obtains a total for the interest. All the loans and all the interest totals are added. The first sum is then divided by the second to obtain the weighted average interest. This is the single-weighted borrowing cost. Recently, the IBRD has obtained the interest total by multiplying the amount of the loan by the interest and the number of years to maturity, to take into account the fact that it has loans of varying maturities. The weighted averaged interest obtained from this calculation is called the double-weighted borrowing cost.

double digit inflation; two digit inflation (tasa de) inflation de dos digitos, de 100/00 mas

doubtful debt deuda dudosa, de cobro dudoso

double entry accounting contabilidad por partida doble An accounting system in which every transaction results in corresponding debit and credit entries in the system. All credits equal all debits at all times.

down payment (on the budget deficit) reducciiin initial

double factorial terms of trade relacion de intercambio de dos facto res Terms of trade where changes in productivity in both trading partner countries are taken into account in order to estimate the division of the real gains from trade. They therefore vary proportionately with the net barter terms of trade and with productivity in the export sector but inversely with productivity embodied in imports.

downgrade, to (a loan) rebajar de categoria

dose-response relationships relacion dosis--efecto The direct relationship between a specific amount of environmental pollution and its environmental impact. This is the easiest way to cost the effects of pollution but is not always feasible. double cropping; sequential cropping cultivos dobles; cultivos sucesivos Planting one crop after harvesting another.

down time tiempo de inactividad

downloading transferencia desde el sistema principal downsize, to reducir de tamafto

66 downstream effect, benefit efecto (0 beneficio, etc.) mediato

drift fishing pesca de deriva

downstream innovations innovaciones inducidas por el usuario

drill core testigo

downstream plant. facilities planta de elaboracion secundaria [petroleo]; instalaciones de elaboration, transporte y distribucion

drilling perforacion

downswing fase descendente, de contraction; movimiento descendente

drip irrigation; dribble irrigation; trickle irrigation riego por goteo The application of water to the soil through small orifices in plastic pipelines.

downturn (economic) initiacion de la fase descendente; cambio desfavorable de la coyuntura downward trend tendentia descendente

drilling rig, platform see oil (drilling) rig

droppage [IFC] abandono; renuncia When a borrower from IFC decides to cancel a loan before signature.

drainage system see storm water drainage system

drop out [education] desertar; desercion; desertor escolar

draw, to (funds) girar, retirar, utilizar fondos

dropout rate [education] tasa de desercion

drawback [customs] reintegro An amount of money which is collected as a customs duty on imported goods and then refunded when the goods are reshipped as exports.

drought stress tension debida a la sequfa Stress on a plant due to lack of water.

drawdown disminucion; reduction; giro; utilization

dry farming; dryland farming cultivo de secano A system of producing crops in arid and semiarid regions without the use of irrigation. Frequently alternate years of fallow and cropping are practiced.

drawdown of equity utilizacion dd capital dressing see basal dressing; surface dressing; top dressing; window dressing dressing section, hall [slaughtering] section de evisceracion Area where excess fat and bone is removed from a meat carcass. dribble irrigation see drip irrigation

drug see brand name drug; generic drug

dryland farming see dry farming dryland(s) management ordenacion de tierras aridas The management of arid and semi-arid areas. dry process [cement manufacture] 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

-E-

early intensive adjustment lending (EIAL) country pais que recibio financiamiento para fines de ajuste antes de 1986 Country that received two structural adjustment loans or three adjustment operations, with the first taking place before 1986.

presa, represa de terraplen Dam constructed of excavated earth material. earth resources satellite satelite de exploracion de los recunos terrestres; satelite para el estudio de los recursos terrestres One of a series of satellites designed primarily to measure the natural resources of the earth. earth road

early (maturing) [crops] de maduracion temprana, precoz

camino de tierra Unsurfaced road made entirely out of earth.

early retirement scheme plan de jubilation anticipada

ease, monetary relajacion moneta ria; flexibilidad monetaria Policy of reducing restrictions on the availability of money, e.g. by easing credit restrictions.

early warning system sistema de alerta anticipada earmark, to (funds) consignar, destinar (rondos) para un fin determinado earmarked account cuenta reservada, especial earmarked tax impuesto para fines especificos earned income ingreso(s) proveniente(s) del trabajo; a veces: iogreso(s) salarial(es)

easy money dinero barato, abundante A condition in which a combination of relatively low interest rates and great credit availability exists.

economic and sector work - ESW estudios economicos y sectoriales economic hardship dificultades economicas A reason for delaying Bank or !FC repayments. economic indicator

indicador economico earned surplus utitidades no distribuidas earning assets activos productivos Loans and investments. earning power rentabilidad; capacidad de obtention de ingresos earnings ingreso(s); ganancia(s); utilidad(es); remuneration

economic internal rate of return see economic rate of return economic life duracion, vida util economic man homo economicus economic management gestion economica, de la economia economic performance comportamiento, desempeiio de la economia; resultados economicos

69 economic policy note [EDI] nota sabre politica economica

edit (texts for publication) editar

economic price~ efficiency price precio economico; precio de eficiencia Price reflecting relative value to be assigned to inputs and outputs if the economy is to produce the maximum value of physical output efficiency.

edited by compilado por

economic rate of return - ERR.; economic internal rate of return - EIRR tasa de rendimiento economico, de rentabilidad economica An internal rate of return based on economic prices. economic recovery loan - ERL [World Bank] prestamo para recuperacion economica economic rent renta economica The return for the use of a factor of production in excess of the minimum required to provide the service of the factor. The surplus remaining to a project beneficiary after he receives the rewards necessary to attract physical inputs, labor, entrepreneurship and the willingness to bear risk. economic soundness [MIGA] solvencia economica One of the criteria used in assessing a project before a guarantee is provided. economics of regress economia del retroceso; aspectos economicos del retroceso The economics of negative growth. The opposite of economics of progress. economies of scale economfas de escala economies of scope economias de diversificacion Cost advantage of producing different products in a single firm. edge bias sesgo (por exceso) de margen, de borde In crop evaluations, inclusion of a plant on the edge of the square delineating the area to be measured, rather than excluding it, leading to an upward bias.

editor editor (de un teno); compilador (de una coleccion de textos); coordinador, encargado de una edicion; redactor jefe educational achievements resultados escolares; rendimiento escolar educational background antecedentes academicol; formacion educational material material didactico effective see cost effective effective cut-off see operational cut-off effective date fecha de entrada en vigor effective exchange rate tipo de cambio efectivo The domestic market price of a good divided by its border price. In effect, the exchange rate actually paid for a given good. Serves as an estimate of the shadow exchange rate for that good. (see also real effective exchange rate] effective interest rate tipo, tasa de interes efectivo(a) The true rate of interest paid on an installment loan. effective protection coefficient - EPC coeficiente de protection efectiva A measure of protection through import duties, etc. as related to domestic value added as opposed to total value of output. Commonly measured as the excess value added. It measures the protection given to the production process per se, not just to the product. Often useful as a partial, quick indicator of economic acceptability. effectiveness see conditions of effectiveness; cost effectiveness

70 effectiveness of an agreement entrada en vigor de un convenio

the solids, thereby allowing smaller sewers to be laid at flatter gradients and with fewer manholes.

effects method [project appraisal] metodo de los ereetos A method of project evaluation originated by Charles Prou and Marc Chervel, widely used in French-speaking African countries, which involves valuing the product and its tradeable inputs at shadow prices. A comparison is made between the situation with the project and without the project.

18% currency [mRD maintenance of value] monto(s) del 18% (pagado(s) por un miembro en su moneda) The capital paid in to the Bank by a member country in its own currency. Members have to pay in 20% of their initial shares, of which 2% is in gold and 18% in the national currency. This is the 18% currency. Though subsequent capital increases have required a lower national currency payment, this amount is still called 18% currency.

efficiency cost of taxation; excess burden of taxation costo de eficiencia de (los impuestos) la tributacion; carga excesiva de Ja tributacion The difference between the resources that the government gains and the sacrifice that is made by taxpayers. efficiency price see economic price efficiency price; efficient price; long-run marginal cost - LRMC [electricity] costo marginal a largo plazo The cost of meeting an increase in consumption, sustained indefinitely into the future, when needed capacity adjustments are possible. efficiency unit unidad de eficiencia efficiency wage salario de eficiencia Wages measured in cost per unit output rather than in actual wages received or paid. efficient price; efficiency price; long-run marginal cost - LRMC [electricity] costo marginal a largo pJazo effluent charges cargos por efluentes; descarga de ef1uentes Payment for direct releases into the environment. effluent sewerage; solids-free sewerage; small-bore sewerage sistema de alcantarillado (alcantarillado) para ef1uentes liquidos A hybrid between a septic tank and a conventional sewerage system. Its distinctive feature is a solid interceptor tank located between the house sewer and the street sewer. The interceptor tank retains

18% currency out on loan [mRD maintenance of value] montos del 18% en prestamo Egyptian cotton; kidney cotton; Sea Island cotton; West Indian cotton algod6n de las Islas Occidentales; algodon de Barbados; algodon egipcio elasticity of demand elasticidad de Ja demanda The percentage change induced in one factor of demand divided by a given percentage change in the factor that caused the change. For example, if the price of a commodity is raised, purchasers tend to reduce their buying rate. elasticity of substitution elasticidad de sustituci6n A measure of the ease with which one input can be substituted for another when responding to a change in the ratio of the prices of the s. For instance, given a production function, suppose that the ratio of the return to capital to wages declined 1%, making labor relatively more expensive than capital. If the ratio of the amount of capital input to labor input used increases more than 10/0, the elasticity of substitution is elastic, which implies that it is relatively easy to substitute capital for labor. [see also constant elasticity of substitution] elastic money dinero ellisticoinput The situation occurring in a monetary system in which the volume of currency in circulation can be varied to meet different needs.

71 electronic funds transfer - EFf transferencia electrOnica de fondos

emergency reconstruction loan - ERL prestamo para reconstl1lccion de emergencia

eligibility; eligibility conditions habilitacion; requisitos, condiciones que deben cumplirse

emergency recovery loan - ERL prestamo de emergencia para recuperacion

eligibility ceiling see formal eligibility threshold eligibility to bid elegibilidad para participar en una licitaciOn eligibility threshold see formal eligibility threshold eligible [procurement] elegible eligible currency moneda admisible eligible expenses gastos admisibles, aceptables, financiables eligible host country [MIGA] pais receptor elegible A member who is listed as a developing member country in Schedule A to the Convention. eligible investment [MIGA] inversion admisible Investment accepted for coverage under the Convention. Includes equity interests, including medium- or long-term loans made or guaranteed by holders of equity in the enterprise concerned. and such forms of direct investment as may be determined by the Board eligible paper efectos, valores negociables Paper than can be freely traded on the market eligible risk riesgo admisible eligible source country pais de origen calificado embodiment hypothesis hipotesis del progreso teenico incorporado Economic theory which states that investments in new capital equipment embody technical change.

emerging markets [securities] mereados emergentes, incipientes eminent domain dominio eminente; derecho de expropiacion The power to take private property for public use by the state, municipalities and private persons or corporations authorized to exercise functions of a public nature. emissions trading intereambio de derechos de emision, contaminacion Pollution dischargers who release less pollution than the officially approved limit may sell or trade the difference between its discharges and the authorized limits to another firm which can then increase its amount of discharge. empower dar participacion; dotar de los medios; responsabilizar; dar poder de decision empowerment habilitaciOn; promocion de la autonomia; potenciacion Giving political power to disadvantaged groups. e.g. women, children. enabling environment entomo, ambiente, cUma propicio. favorable; condiciones propicias, favorables enabling legislation ley(es) que autoriza(n); autorization legislativa encashment [IDA] conversion en efectivo The conversion of notes and other securities paid in by member countries to IDA into cash. enclave project proyecto enclave Project designed and supervised by foreign consultants, executed by foreign contractors and suppliers and managed with the help of expatriates.

72 end-of-mission document in(onne de fin de mision

energy cropping cultivos para fines energeticos The growth of plants to be used for energy needs (i.e. wood, oil-bearing plants).

end of pipe pollution control control de la contaminacion en la descarga Control of pollution where it is discharged rather than in the production cycle.

energy-efficient eficaz en el uso de la energia

end use (of a commodity) uso final

energy-intensive de uso intensivo de energia

end use (energy) efficiency eficiencia del uso final de la energia

energy lending financiamiento para energia

end use tax impuesto seglin uso final

engender considerar (una cuestion) desde el punto de vista de los roles del homhre y la mujer Considering issues from the point of view of gender, relations between the sexes.

energy see also alternative energy; biomass energy; commercial energy; constant energy intensity; conventiona1 energy; net energy ratio energy affiliate organismo de energia afiliado aI Banco; organismo afiliado de energia Proposed organization, subsidiary of the World Bank, dea1ing with lending for energy. Never actua1ly set up. energy assessment evaluacion de recursos energeticos energy audit estudio de recursos energeticos [de un pais]; namen del uso de la energia; balance de energia A survey of energy usage in a system or organization and an examination of how energy may be used more economica1ly. energy cascading utilizaci6n escalon ada de energia The utilization of energy, otherwise wasted, in the performance of work matched to the characteristics of the energy, e.g. the use of waste heat from an industrial process for a variety of purposes in sequence, performing work at a lower temperature at each stage. The sequence may include air heating, steam raising and water heating. energy conservation conservacion, ahorro de energia

engineered road camino trazado tecnicamente A planned earth road. engineering see also design; design engineering; detailed design, engineering; environmental engineering; financial engineering; heavy (engineering) industry; preliminary design, engineering engineering consultant ingeniero consultor engineering design diseiio tt~cnico engineering development desarrollo tecnico engineering industry industria tecnica, mecaDica, metalmecanica engineering, preliminary diseiio tecnico preliminar engineering-related technical assistance; hard technical assistance asistencia tecnica relacionada con los componentes fisicos; asistencia tecnica relacionada con las inversiones en activos fisicos Technical assistance geared towards engineering projects as opposed to institution-related technical assistance.

73 engineering studies estudios teenicos, de ingenieria

advise on projects involving large dams. Normally required for Bank large dam projects.

enhance new debt, to mejorar las condiciones de la nueva deuda

environmental assessment - EA evaluacion ambiental An intensive examination that is required for lending operation that have diverse and significant environmental impacts.

enhanced recovery [oil] recuperacion mejorada Increased recovery from a reservoir achieved by artificial means or by the application of energy extrinsic to the reservoir. enrollment ratio tasa de matricula; coeficiente de matricula Ratio of pupils enrolled to total school age population. [see also gross (primary) enrollment ratio]

environmental audit auditoria ambiental Detailed study of the environmental problems of an area or industrial plant.

enrollments matricula; numero de a1umnos matriculados

environmental degradation deterioro, degradacion ambiental Deterioration in the environment. Includes pathogens in the environment, indoor air pollution, substandard housing and extensive industrialization.

entrepOt trade comercio de reexportacion The re-export trade of a country.

environmental engineering ingenieria ambiental, del medio ambiente; ingenieria ecologica

entrepreneur empresario

environmental enhancement mejoramiento ambiental Improvement to the environment. Used by the Bank to refer to improvement to the environment as an indirect effect of a project.

entrepreneurial benefit-cost ratio - EBC relacion costos-beneficios empresariales, de las empresas

entries see accounting entries

environmental goods and services bienes y servicios ecologicos, para la proteccion ambiental Goods and services provided for environmental protection purposes.

entry level nivel de ingreso

environmental health, sanitation higiene ambiental; saneamiento ambiental

environment satellite accounts cuentas subsidiarias del medio ambiente Subsidiary national account for the environmental sector.

environmental hotspot zona de singular riqueza ecologica Area on the Earth where there is a considerable and often unique species diversity.

environmental action plan· EAP plan de proteccion ambiental

environmental impact assessment - EIA evaluacion del impacto ambiental; evaluacion de los efectos ambientales Evaluation of the effect of a project on the environment.

entrepreneurship capacidad, espiritu empresarial

environmental (advisory) panel grupo de evaluacion ambiental An advisory panel of independent, internationally· recognized, environmental specialists, formed to

environmental management plan see mitigation plan

74 environmental reconnaissance examen (ambiental) sobre el terreno Bank mandated study, carried out by independent, recognized experts during project identification, to ensure that potential environmental effects are identified, ascertain the scope of further environmental studies and action needed, assess the availability of the borrower to undertake them and advise on the need for an environmental panel.

environmentally adjusted income - EAI ingreso ajustado conforme a consideraciones ambientales

environmental review estudio de los deetos ambientales The whole process by which the Bank monitors the environmental effects of projects. It may involve fuIlscale environmental assessment or only limited analysis. It starts with screening at identification and continues through evaluation after the last disbursement.

equalization fund fondo de igualadon, de equiparadon Funds made available by a national government to subnational or local governments to reduce the degree of inequality in the levels of revenue raised by the local governments.

environmental screening estudio (ambiental) preliminar environmental services beneficios eeologicos Functions performed naturally by forests, such as maintenance of waterflow patterns, protection of soil, support of economically important living resources and regulation of climate. environmental stress tension, estres ambiental; perturbaciones del medio ambiente environmental sustainability sostenibilidad ambiental environmentalist ecologistas; expertos en medio ambiente environmentally adjusted domestic product - EDP producto intemo ajustado conforme a consideraciones ambientales - PIA environmentally adjusted economic accounts EEA cuentas economicas ajustadas conforme a consideraciones ambientales

environmentally adjusted national income - ENI ingreso nadonal ajustado conforme a consideraciones ambientales - JNA epidemic disease [livestock] epizootia

equalizing discount rate see cross-over discount rate equalizing rate of return tasa de rentabilidad de equilibrio The rate of return that equalizes the present value of two streams of costs. Used to compare two or more different project alternatives. equilibrating capital flow corriente de capital equilibradora equilibrium climate change cambio climatico de equilibrio The change which would occur once all the lags in the climate system have worked through the system, which may take decades or centuries. cr. transient climate change. equilibrium exchange rate tipo de cambio de equilibrio The exchange rate when offer and demand are equally balanced. equilibrium income ingreso(s) de equilibrio equilibrium model see computable general equilibrium model

75 equilibrium real exchange rate tipo de cambio real de equilibrio The price of tradables relative to non-tradables that, for given long-term equilibrium (or sustainable) values of other relevant variables such as trade taxes, international prices, capital and aid flows and technology, leads to the simultaneous attainment of internal and external equilibrium and is compatible with long-term economic growth. equipment equipo(s); material (de transporte) equipment grant donacion en, para equipos equity capital (social, accionario); patrimonio (neto); acciones; equidad [see also capital; deadwood equities; debt-equity conversion fund; debt-equity conversion, swap; quasi-equity; real estate equity; stockholders' equity] equity; common share [stock exchange] accion ordinaria equity capital; capital stock (of a corporation) capital social, accionario The issued share capital which is neither limited nor preferred in its participation in the distribution of its profits nor in the ultimate distribution of its assets. Equity capital is sometimes used as a synonym for stockholders' equity. equity feature [IFC] opcion a participar en el capital social; prestamo convertible en acciones de capital [CFIJ IFe loan which has a feature enabling it to be converted into an equity participation. equity financing, investment inversion, participacion en (el) capital social Investment that confers whole or partial ownership in an enterprise and entitles the investor to share in the profits from its operation. equity fund fondo de inversion en acciones Money market fund investing in equity stocks.

equity grant donacion en capital equity-like instrument instrumento financiero con caracteristicas patrimoniales A loan structured in such a way that it can be converted into equity. An example is an income note that acts as equity, i.e. it bears interest only if the project generates interest. This means it has the form of equity (cr. stocks where income is generated only if the company pays a dividend). An example of the use of this type of instrument is in high-risk countries where an equity investment would be lost at once but an equity-like if dollar-denominated, would instrument, guarantee the capital and ensure income if the project produced income. equity line [IFC] linea de capital accionario Credit line (also known as agency line) established in favor of an intermediary which would draw on the line to make loan and equity investments for IFe's account. equity loan prestamo en forma de participacion en el capital Loan in the form of equity participation. equity ownership participacion en el capital social An interest in a property. equity portfolio fund fondo de inversiones de cartera equity ratio relacion capital-activo Ratio of assets to net worth. equity security certificado de participacion A certificate that designates a proportional ownership in a corporation. Includes rights, warrants and long call options. equity subscription [IFC] suscripcion de capital social, de capital accionario The purchase of shares in IFe by member countries.

76 equity-type loan; sponsored loan credito de accionistas, de participacion Loan made by equity holders of the borrower. equity underwriting compromiso de suscripcion de aceiones Underwriting (i.e. finding buyers for a security issue) a share issue. This technique has been used by IFC, e.g. for the Korea Fund, a diversified closed-end investment company investing in Korean securities, that plans to offer its shares in the U.S. and other markets with IFC as one of the colead managers. escalation see price adjustment clause; tariff escalation escalation clause [prices] c1ausula de reajuste (de los precios) Clause in a contract which allows for prices to increase as certain specified items, e.g. labor costs, increase. [see also price adjustment clause]

estimates of quantities see preliminary estimates of quantities establishment convention; base convention convenio buico Basic agreement used in financing a major project. Eurobonds eurobonos Eurocurrency market mereado de eurodivisas Euroissues euroemisiones European Currency Unit - ECU unidad monetaria europea - ECU A standard unit of account of European Community member countries. European flotations emisiones (de obUgaciones) en Europa Eurosterling euroesterlina

escalator clause [wages] chiusula de escala movil Clauses in labor agreements providing for automatic wage increases based on movements in a specific price index.

evacuation road camino de salida

escape clause; break clause; jeopardy clause clausula de salvaguardia, de elusion, de escape A clause in a Eurocurrency agreement specifying that, if certain events curtail the lender's activity or the operation of the Euromarkets, other designated actions will come into effect.

evaluated portfolio [IFC] valor estimado de la cartera That part of the disbursed portfolio in companies which have a sufficient operating history for a reasonable review of their creditworthiness or profit potential.

escrow deposito en garaniia, en custodia A writing, deed, money, stock or other property delivered by the grantor, promisor or obligor into the hands of a third person, to be held by the latter until the happening of a contingency or performance of a condition and then by him delivered to the grantee, promisee or obligee.

evaluation [projects] evaluacion ex post

escrow account deposito en custodia Account to set aside a sum of money for a specific purpose, e.g. loan repayment.

Evaluation Capability Development Program ECDP [ffiRD] Program a de Desarrollo de la Capacidad de Evaluacion Ex Post evaluation mission; audit mission mision de evaluacion ex post evidence [ICSID] prueba; medio de prueba

77 examination (of witnesses or experts) [ICSID] interrogatorio; examen

exchange arbitrage arbitraje de cambios

examination of bids anaIisis de las ofertas

exchange budget presupuesto de divisas

examiner see bank examiner

exchange control regulations disposiciones de control de cambios

ex ante evaluation evaluacion previa, ex ante ex ante financing gap brecha financiera ex ante Used by the IMF to denote a gap between the funds they need and the funds they have available at the start of a program of financing. excellence center [education] centro de excelencia Training and research institutions for the training of highly qualified personnel and for undertaking research in scientific disciplines.

exchange cost costa en divisas exchange discount descuento cambiario; perdida cambiaria exchange equalization account cuenta de igualacion de tipos de cambio An account to stabilize the exchange value of the domestic currency by preventing excessive depreciation or appreciation. Used primarily in the United Kingdom. exchange market see foreign exchange market

excepted period periodo exceptuado Period that does not count as laytime even if loading or discharging is carried out. excepted risks riesgos no cubiertos Risks excluded from insurance under a contract. These often include war, revolution and similar acts of violence, as well as explosions, damage caused by radioactivity or aircraft and similar damage.

exchange premium prima, ganancia cambiaria exchange rate differential diferencia(s) de tipos de cambio exchange rate overvaluation sobrevaloracion de las monedas exchange rate policy politica cambiaria

excess burden of taxation see efficiency cost of taxation

exchange risk riesgo cambiario

excess capacity excedente de capacidad; capacidad excedentaria

exchange stabilization fund fondo de estabilizacion cambiaria A fund set up to stabilize the value of the domestic currency. Used primarily in the US.

exchange see foreign currency, exchange exchange adjustment ajuste cambiario exchange allocation asignacion de divisas

exchange system regimen, sistema cambiario excise tax impuesto aI consumo

78 exclusive economic zone - EEZ zona de soberanfa economica The area beyond and adjacent to the territorial sea over which the coastal state has sovereign rights for the purpose of exploring, exploiting, conserving and managing the natural resources of the bed, subsoil and supeIjacent waters and with regard to other activities for the economic exploitation and exploration of the zone as well as jurisdiction with regard to marine scientific research and the preseIVation of the marine environment. It should not exceed 200 miles. execute an agreement, to celebrar, firmar un convenio, un acuerdo executing agency [UNDP] organismo de ejecucion Organization that implements a project on behalf of another.

exit bond bono de exclusion Instruments issued by a debtor country to a creditor bank in place of a bank credit, that allows the creditor bank to be exempted from future requests for new money and restructuring. Used by Argentina and the Philippines (with its Philippines Investment Notes - PIN). exit mechanism mecanismo de opciones Procedures to allow users of a seIVice to use alternative services. In public sector management, these include deregulation, contracting out of seIVices to multiple private providers and competition between the public and private sectors. The basic concept was developed by Albert Hirschman in Exit, Voice and Loyalty and adapted by Samuel Paul to the issue of accountability. exit value see current exit value

Executive Board; Board of (Executive) Directors [IBRD; IDA] Directorio Ejecutivo

ex-officio [ICSID] ex officio

Executive Director Director Ejecutivo

expansionary policy politica expansionista

executive summary resumen

expatriate expatriado

ex factory price; price ex factory; factory gate price precio en fabrica The manufacturing cost excluding cost of distribution.

expectation [mathematics] see expected value

exhaustion of local administrative or juridical remedies [ICSID] (exigir) el agotamiento previo de las vias administrativas 0 judiciales (de un Estado) existence value valor intrinseco; valor de existencia Value of keeping something (e.g. a species of plant or animal) even when no benefit is expected to be derived from keeping it, now or in the future. exit barrier obstaculo a la salida del mercado Legal mechanism that prevents from leaving a market (e.g. liquidating or merging a firm), often designed to protect workers from unemployment or to conseIVe scarce capital resources.

expected value valor esperado The mean value of single obseIVations drawn from a finite or infinite universe in repeated samplings. expendable equipment material fungible expenditure-switching reorientacion del gasto One of the policy alternatives necessary to remove an international trade imbalance. Examples are devaluation and import restrictions which are intended to encourage domestic output and also foreign expenditure on domestic output. expense, to; to write down castigar; rebajar el valor en Iibros; amortizar parcialmente

79 expert appraisal tasacion, avaluo pericial; peritaje

and the project boundary and the point where the cif or fob price is quoted.

expertise conocimientos especializados; pericia; expertos

export processing zone - EPZ zona franca industrial An industrial area forming an enclave in the customs area of a country (generally near a port or airport).

explanatory variable; predictor; predicated, independent variable; fixed variate; regressor [statistics] variable independiente, predictiva (explicitly) collusive oligopoly oligopolio colusorio expUcito; cartel An oligopoly where participants act as a cartel. export adjustment loan - EAL prestamo para ajuste del sector exportador. de exportacion Loan made by the World Bank to assist a country to adjust its export sector. export credit credito de exportacion, a la exportacion export development fund - EDF rondo para el fomento de las exportaciones A self-sustaining revolving fund set up to recapture the foreign exchange advanced within a specific period, typically 120-360 days, for use again by eligible beneficiaries. It provides mechanisms to give access to exporters to foreign exchange for the purchase of intermediate inputs. The Bank has made loans for these funds as part of its Program of Special Assistance. export earnings. proceeds ingresos de exportacion export-enclave economy economia dependiente de la exportacion de un solo producto Economy which is geared towards the export of one commodity only (e.g. oil). export-oriented orientado hacia la exportacion export parity price precio paritario de exportacion The estimated price at the farm gate or project boundary derived by adjusting the cif or fob price by all the relevant charges between the farm gate

export rehabilitation project - ERP [mRD] proyecto de rehabilitacion del sector exportador. de exportacion Project geared towards improving the export performance of a country. export shortfall insuficiencia de las exportaciones; insuficiencia de los ingresos de exportacion export subsidy subvencion, subsidio a las exportaciones exports of goods and services - XGS exportaciones de bienes y servicios ex post cofinancing cofinanciamiento ex post Cofinancing after tbe initial loan has been made, e.g. by selling part of the loan. ex post evaluation evaluacion ex post, a posteriori The process whereby the Bank, and in some instances, an agency of the government, shortly after completion of project implementation and disbursements of the proceeds of the loan, review comprehensively the extent to which the objectives and expectations of the project, on the basis of which the Bank loan was approved, have been or show promise of being achieved. ex post real interest rate tipo de interes real ex post The actual real interest rate. exposure riesgo; prestamos pendientes; participation en una inversion; compromisos neros Amount of investment made, with the additional idea of risk. These translations are proposed. The translation will often depend on the context. [see also bank exposure; co-exposure; country exposure]

80 exposure diversification diversificacion de los riesgos

external payment position situacion de palOs extemos

ex quay (duties on buyers' account) en el muelle (derecbos por cuenta del comprador) Applies to goods that the seller makes available to the buyer on the quay at the destination named in the sales contract. The seller bears the full cost and risk involved in bringing the goods to this destination, except for the liability for clearing the goods for import, which is the responsibility of the buyer.

external review mission mision de examen extemo

extended family familia extensa extended payment plan venta a plazos extender [gasoline] aditivo (que aumenta la cantidad) 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

external viability viabilidad de la balanza de pagos externalities [projects] dectos extemos; extemalidades {proyectos] Costs and benefits of development projects which do not get captured by the market mechanism, e.g. revulsion caused by bad taste advertising, garbage dumped on the outskirts of a city and poor performance of sanitary services. extra long staple cotton algodon de fibra extra larga Cotton with fibers of 1 3/8 inches long or more. extraordinary budget; special budget presupuesto extraordinario

81 fair price shop puesto de venta de productos subvencionados -F-

fallacy of composition falacia de composicion A wrong conclusion reached by taking a known fact about individuals and projecting it to apply to the entire population.

face value valor nominal facility mecanismo; servicio; instalacion; medios fact sheet datos basicos

family planning planificacion familiar, de la familia 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 Income derived directly from the current production of goods and services. There are normally four main categories: rent; wages and salaries; interest and profits. factor income payments pagos en concepto de ingresos de los facto res factor price precio de los factores The price of a factor of production (e.g. land, labor and capital). factoring factoraje The purchase of trade debts, usually without recourse.

farm forestry agrosilvicultura Forestry carried out on private farmlands. farm gate price precio a nivel de la explotacion agricola farm income ingreso(s) agricola(s) farmer-pull innovations innovaciones inducidas por eI agricultor farming system sistema de explotacion agricola farming systems research - FSR investigacion sobre sistemas de produccion agricola

factory farming agricultura industrial

farming techniques metodos, tecnicas de cultivo

factory gate price see ex factory price facultative reinsurance reaseguro facultativo Reinsurance of a specific risk. reinsurance. fair market value valor justo, equitativo de mercado

farming unit unidad agricola, de explotacion agricola

Cf. treaty

fast disbursing (loan); quick disbursing (loan) (prestamo) de rapido desembolso

82 fast -track procedures negociaciones por via expedita Procedures designed to facilitate negotiation of complex trade agreements. They give the president authority to conclude such agreements and submit them to Congress for approval or disapproval without amendment. Used by the Bush administration in the 1990-1991 Uruguay Round negotiations.

feed grains cereales forrajeros feed unit unidad forrajera One pound of com or its equivalent in feed value in other feeds which is fed to cattle under normal farm conditions.

feasibility study estudio de factibilidad, de viabilidad

feedback (of information) retroaccion; informacion obtenida; retroinformacion

fecundity fertilidad

feedback loop circuito de informacion

fee see availability fee; backup facility fee; commitment charge, fee; cost plus ftxed fee contract; cost plus percentage fee contract; frontend fee; guarantee commission, fee; harbor fees; loan origination fee; management fee; percentage (fee) contract; service and support fee; stumpage fee; tuition fees; zero fee policy

feeder road camino de acceso, secundario, vecinal

fee-based service [!FC] servicio a cambio del pago de honorarios Services provided by IFC for which IFC charges a fee. Includes such services as technical assistance, advice on privatization, corporate strategies, ftnancial risk management, project structuring, setting up capital markets, etc. fee for lodging requests [ICSID] cargo por presentacion de solicitudes fee-for-services basis sistema de honorarios por servicios feed balance; feed estimate balance forrajero feed conversion ratio andice de aprovechamiento del forraje Ratio which makes it possible to evaluate feed efficiency. Obtained from the amount of product obtained per kilo of feed given to the animal (Le. daily average proftt/feed). feed estimate; feed balance balance forrajero

feeder school; contributory school; preparatory school eseuela preparatoria School where students go on to a speciftc higherlevel school, for which it is the feeder. feedlot corral de engorde feedstock materiales basicos; materiu basicu Substance (e.g. gas) used as raw material for its chemical properties in creating an end product. fellow [EDI] ex participante fertility rate tasa de fecundidad Births per thousand, usually related to individuals of same sex, age, marital status, etc. ftber crop planta tenil fteld see coal fteld fteld agent agente en el terreno fteld assignment, mission mision en el terreno, de observation en el terreno

83 field crop cultivo; cultivo extensivo

final design pianos definitivos

field-level extension worker agente de extension a nivel de poblado

final design quantities cantidades para los pianos definitivos

field mission, assignment mision en el terreno, de observacion en el terreno

final energy; secondary energy energia final, secunda ria

field office oficina exterior, fuera de la sede field seeds semillas, simientes de campo The seed of field crops, as contrasted with vegetable and flower seeds. field staff personal de las ofieinas exteriores, fuera de la sede; personal en el terreno field trip viaje de observaeion, estudio, etc. field unit [agricultural extension] unidad de extension (agricola) field work trabajo en el terreno field worker funcionario destacado en el terreno Fifth Dimension Program programa de "quinta dimensi6n" World Bank program whereby the Bank provides additional IDA allocations to IDA-ooly countries that have outstanding mRD debt, are current on their debt service to the Bank and have an IDAsupport adjustment program. filing of claims [MIGA] presentaeion de reclamacioncs Submitting appropriate documentation to support a claim for a covered loss. fill ratio [staff] coeficiente de ocupacion de cargos, puestos Percentage of positions in an organization that are filled.

finance lease; financial, full payout lease contrato de arrendamiento con opcion de compra; leasing; arrendamiento financiero A lease involving payment over an obligatory period of specified sums sufficient in total to amortize the capital outlay of the lessor and give some profit. In other words, the lessee pays the full value of the asset. finance plan plan finaneiero financial adjustment ajuste, reajuste financiero financial claim titulo de credito; acreencia; activo financiero financial claims of government uso de recursos por el gobiemo financial contingency imprevistos finaneieros financial credit credito financiero financial deepening intensification financiera Acquisition of financial assets at a faster rate than nonfinancial assets. financial distress dificultades financieras graves financial engineering tecnicas financieras; ingenieria finaneiera [Mexico] Application of innovative techniques in major national and corporate workouts.

84 financial expenses coverage ratio coeficiente de cobertura del gasto financiero Net income plus non-cash charges plus interest payments divided by interest payments plus current portion of long-term debt. financial flows Aujos financieros; conientes financieras financial futures futuros financieros

financial replicability posibilidad de repetici6n financiera Full recovery of the financial costs of the project entity. financial repression represion financiera Distortion in the financial system, with negative interest rates, subsidy interest rates to some privileged borrowers, selective credit allocation, and excessive bureaucratic control over the financial system.

financial intermediary loan - FIL pristamo a un intermediario financiero World Bank loan to a financial intermediary, such as a central bank.

financial restraint, stringency austeridad, moderacion financiera

financial internal rate of return see financial rate of return

financial spread margen financiero Income from loans and investments minus cost of borrowing.

financial intrinsics situaci6n financiera An alternative word for financial position.

financial standing see creditworthiness

financial lease see finance lease financial leverage see leverage financial package serie, conjunto de medidas financieras; paquete financiero financial paper efectos, valores financieros Commercial paper issued by financial institutions.

financial statement estado financiero A balance sheet, income statement, funds statement or any supporting statement or other presentation of financial data derived from accounting records. financial year; fiscal year ejercicio (economico)

financial pedormance, results actuacion financiera; resultado(s) financiero(s)

financialization financializacion The holding of assets (e.g. savings) in financial form (e.g. bills, bonds, cash) as opposed to in the form of fixed assets (e.g. gold, real property),

financial plan plan financiero

financing gap deficit de financiamento

financial rate of return; internal rate of financial return; financial internal rate of return - FIRR tasa de rendimiento financiero, de rentabilidad financiera The internal rate of return based on financial or market prices.

financing package financiamiento; a veces: plan de financiamiento

financial ratios relaciones rmancieras

financing plan plan de financiamiento fineness (of a precious metal) ley (de un metal precioso)

85 fine tuning (of the economy) afinamiento (de la economia) firm bid rule nonna de oferta finne Principle that a bid is irrevocable for a reasonable time after bid opening. first in, first out - FIFO salida en el orden de adquisicion, fabricacion, etc. [see also last in, first out] first-loss deductible [insurance] franquicia correspondiente a la primera perdida first ranking security garantla de primer grado first refusal right; preemptive right derecho prioritario, preferencial, de preferencia, de prelacion Right to have the first opportunity to purchase real estate when such becomes available, or right to meet any other offer. first year rule - FYR [project analysis] regia del primer aDo A method of determining when to start a project. Two time streams of costs and benefits (using oneyear intervals of discounting) are subtracted. The project should be delayed by one year if the net present value of this figure is negative.

1. Reduction in real income due to the increase in income from inflation, resulting in income earners being placed in higher tax brackets. 2. Action by public financial authorities with regard to economic activity. fiscal gap deficit fiscal fiscal policy politica fiscal fiscal revenue ingresos fiscales, tributarios fiscal transparency transparencia fiscal Refers to the situation whereby certain partners and associates in certain companies are deemed to be the same as the company for taxation purposes. Used in France. fiscal year; financial year ejercicio (economico) fishing by lamplight; lamplight fishing pesca con luz artificial, aI encandilado five day biochemical oxygen demand see biochemical oxygen demand over five days BOD5 fixed assets see capital assets fixed capital see capital assets

fiscal agent agente financiero A bank appointed by the borrower as its agent for a new issue of securities when no trustee has been appointed. Its functions include those of a principal paying agent and a number of the clerical functions but none of the fiduciary responsibilities of a trustee. fiscal balance equilibrio fiscal, del presupuesto A balance between the receipts and expenditures of a government (not just taxes). fiscal drag lutre fiscal; remora fiscal; freno fiscal

fixed cost contract; fixed price contract contrato a precio fijo fixed costs costos, gastos fijos fixed investment inversion en capital fijo fixed price contract; fixed cost contract contrato a precio fijo fixed-rate financing financiamiento con tipo de interes fijo

86 fixed rate matched funding loan prestamo de contrapartida con tasa fija One of two types of fixed rate loans made by the Bank to IFC, involving amounts in various currencies from which currency-specific tranches are established to fund new fixed rate IFC loans on a back-to-back basis.

flexibility quotient cociente de flexibilidad Number of redeployable staff resources as a percentage of the total workforce.

fixed term appointment nombramiento de plazo fijo

flight capital capital fugado

fixed term contract contrato de plazo fijo

flight of capital; capital flight fuga de capitales

fixed term staff personal contratado a plazo fijo

flip chart rotafolio

fixed variate; predictor variable independiente, predictiva

float [banking] efectos en cobro, cobraoza Checks, drafts, etc., in the process of collection.

flexitime; flextime borario flexible

fixing see price fixing flag of convenience; open registry flag bandera de conveniencia, de favor

float a loan, to obtener un emprestito; lanzar una emision de bonos

flagship product producto, publicacion estrella Used to describe key publications, summarizing Bank policy in a major area, e.g. poverty, adjustment, health in Africa.

floating capital capital tirculante, flotante That portion of the capital of an enterprise not invested in fixed or other capital assets but in current and working assets.

flagship project proyecto puntero, de punta Project used to promote development in a key area, e.g. environment, women in development.

floating cash reserve reserva flotante en efectivo; encaje (ireulante, flotante

flat budget presupuesto igual, sin cambio, sin aumento Budget which shows no increase over previous budget period. flat rate tasa, tarifa unifonne, a tanto alzado flattening out aplanamiento de una curva; nivelacion fleet [transportation] flota; parque

floating rate tipo de cambio flotante floating rate bond bono con interes variable, flotante Bond on which the coupon is established periodically and calculated with reference to short-term interest rates. floating rate note pagare con interes variable, flotante Note issued from five to fifteen years with a fixed spread, usually over the six month London Interbank Offered Rate (LIB OR), normally with provision for a minimum interest rate. Primarily used by banks to raise dollars for their Euromarket operations.

87

flock management~ herd management manejo de rebaiios

floor return rendimiento minimo The amount of annual investment income projected at the beginning of the fiscal year for the Bank.

flood control irrigation riego por anegacion controlada

flotation [bonds] emision

flooded rice arroz acuatico

flotation costs [bonds] gastos de emision

flood irrigation; spate irrigation riego por inundacion A method of irrigation in which water is made to cover the surface of the land to a considerable depth and remains for a considerable period, after which so much of it as has not soaked in is drawn off, leaving the land ready for the growing of crops.

flow see capital flow; capital inflow; cash flow; cash inflows; concessional flow; discounted cash flow; equilibrating capital flow; financial flows; funds flows; inflow of capital; nonconcessional flows; official flows; other official flows; student flow

floating rice arroz flotante

flooding see controlled flooding floodplain lIanura inundada, de inundacion; terreno aluvial, de a1uvion floodplain agriculture, cultivation agricultura, cultivo en tierras de aluvion flood recession crop cultivo de decrecida Crop planted on land which has recently been flooded.

flow chart; process chart grafico de circulacion; diagrama de movimiento, de flujo, de produccion, de secuencia, de procedimiento A graph or chart that illustrates the movement of money, credit, goods or some other economic element through various stages. In computer terminology it is a diagram of the processing of a problem in a computer by means of symbols and lines to show either the logic and sequence of specific program operations or a system of processing to achieve certain objectives. flow meter; flowmeter caudalimetro A meter that indicates the rate of flow of water.

floodway; high-flow diversion canal de derivacion

Natural or man-made bypass channels or conduits that redirect flood waters around or away from urban centers or area of high population density. floor price precio minimo Usually established by the government, the smallest price that a seller is allowed to charge. floor rate of exchange tipo de cambio minimo The minimum rate of exchange.

flow of funds see funds flow fluidized bed combustion combustion en lecho fluidizado A method of burning particulate fuel such as coal in which the amount of air required for combustion far exceeds that found in conventional burners. The fuel particles are continually fed into a bed of mineral ash in the proportions of 1 part fuel to 200 parts ash, while a flow of air passes up through the bed, causing it to act like a turbulent fluid. focus group reuniones de grupos de representantes de los interesados; grupo muestra elegido

88 focusing effect efedo de concentracion In crop estimations, the effect of selecting one specific part of a field over another. In most cases, the tendency is to select the center part of the field, where crop density is likely to be higher, thereby leading to an upward bias in the estimates.

food production produccion alimentaria, de alimentos

follow-up seguimiento; complemento; etc.

foodstuffs productos alimentarios

follow-up financing financiamiento complementario

footloose industry industria no localizada, sin vinculacion permanente Industry not bound to particular location by specific locational requirements and thus can effectively locate anywhere.

follow-up project proyecto complementario food crop cultivo alimentario food demand program programa de demanda de alimentos food-for-work programme programa de alimentos por trabajo A programme set up under the World Food Programme where food is provided as part-payment to men and women engaged in community improvement programmes. food grains cereales, granos alimentarios food import dependency ratio coeficiente de dependencia de la importacion de aUmentos The ratio of food imports to the food available for internal distribution, i.e. the sum of food production, plus food imports, minus food exports. food intake ingesta, ingestion de alimentos; alimentos ingeridos

food security seguridad alimentaria The availability of adequate food supplies for a target population.

forage tree arbol forrajero A tree whose leaves are used for forage. forage unit unidad forrajera Unit of measurement of the energy input of feedstuffs based on the net energy value of lkg of barley. force account, by/on [US]; direct labour [UK]; direct work; departmental forces por administracion Used to describe a situation whereby the owner of a project uses his own labor force to undertake the project, rather than hiring contractors. forced investment inversion forzosa A requirement placed on a commercial bank (usually in a developing country) that it make specific investments (e.g. x % of its portfolio must be agricultural investments), sometimes at a specific rate. forced sale value see liquidation value

food plant planta alimentaria Food Price Index [IBRD] Indice de precios de los alimentos food processing industry industria de elaboration de alimentos

forced savings ahorro forzoso foreclosure ejecucion (de una bipoteca); juicio bipotecario foregone output see forgone output

89 foreign assets activos en el exterior, activos sobre el exterior

foreign tax credit cn!dito por pago de impuestos en el extranjero

foreign borrowing emprestitos en el exterior

foreign trade comercio exterior

foreign capital (official, private) capital extranjero, externo (oficial, privado)

forest canopy cubierta, dosel forestal

foreign currency, exchange divisas; moneda extranjera

forest fallow barbecbo forestal All complexes of woody vegetation derived from the clearing of natural forest for shifting agriculture. It consists of a mosaic of various reconstitution phases and includes patches of uncleared forests and agriculture fields which cannot be realistically segregated and accounted area-wise, especially from satellite imagery. Forest fallow is an intermediate class between forest and non-forest land uses. Part of the area which is not under cultivation may have the appearance of a secondary forest. Even the part currently under cultivation sometimes has the appearance of forest, due to presence of tree cover. Accurate separation between forest and forest fallow may not always be possible.

foreign currency issue emision en divisas foreign exchange auction subasta de divisas Auction of foreign currency, as used in some developing countries, whereby the price obtained for the foreign currency at the auction is the rate of exchange applied till the next auction. foreign exchange component elemento, componente en divisas foreign exchange cost costo en divisas

forest mining see tree mining foreign exchange coverage fund fondo de cobertura del riesgo cambiario foreign exchange market mercado de divisas, de cambios foreign exchange position situacion en materia de reservas de divisas foreign exchange reserves reservas de divisas foreign exchange resources recursos en divisas foreign exchange risk riesgo cambiario foreign-owned de propiedad extranjera foreign price precio en el exterior

forfaiting forfetizacion The business of discounting medium-term promissory notes or drafts related to an international trade transaction. Repayments are semiannual and discounting is at a fixed rate. forgiveness (of a debt) condonacion forgone output; foregone output production a que se renuncia The use of an input (e.g. labor) in a project which is thereby prevented from being used elsewhere. form ofbid, tender modelo de (presentacion de) ofertas form of contract modelo de contrato

90 formal adherence adhesion oficial

process of transforming raw materials into final goods.

formal credit credito institucional

forward linkage of an industry eslabonamiento descendente de una industria The relationship between an industry or firm and other industries or firms which use its output as an input. A change in output or price will be transmitted forwards to users of its product.

formal education educacion formal, academica formal eligibility threshold; eligibility threshold; eligibility ceiling limite oficial para recibir financiamiento de la AIF The maximum limit above which a country is no longer eligible for IDA financing. In practice, only countries below the operational cut-off, with the exception of a few small island economies, receive IDA financing. formal sector sector estructurado formal suspension of disbursements [IBRD] suspension oficial de los desembolsos

foundation seed semilla basica The progeny of breeder, select or foundation seed handled to maintain specific genetic purity and identity. founder's share participacion de fundador Shares subscribed by original owners of a business. frame agreement [IBRD] acuerdo basico An agreement between the World Bank and a member country on cofinancing.

formal vote [ICSID] votacion formal formation expenses; organization expenses gastos (iniciales) de constitucion forward budgeting presupuesto multianual Planning tool to determine expenditures for the next few years.

forward-looking de vision bacia el futuro; con vision bacia el futuro

government

forward cover entrega futura, a plazo The arrangement of a forward foreign exchange contract to protect a buyer or seller of foreign currency from unexpected fluctuations in the exchange rate. forward exchange market mercado de divisas a termino, a plazo forward exchange rate tipo de cambio a termino, a plazo forward integration integracion progresiva Refers to a firm whose activities extend over more than one subsequent stage of the production

framework cooperative arrangement [MIGA] acuerdo de cooperacion general franchise concesioo; licencia; franquicia; etc. franchising agreement acuerdo de concesion Agreement where the franchiser provides the franchisee with a package of resources such as trademarks, know-how and management assistance and where his remuneration depends, at least in part, on the production, revenues or profits of the investment project. Considered as a type of non-equity direct investment for the purposes of MIGA.

free alongside ship. F AS franco al costado del buque - f.a.s. Applies to goods delivered alongside a specified ship at the quay or in lighters.

91 free carrier (named point) - FRC franco transportista Applies to goods delivered into the custody of the carrier at the named point.

free of particular average - FPA franco de avena particular Type of marine insurance which does not cover partial loss and damage.

free-enterprise economy; free market economy economia de libre empresa

free on board - FOB franco a bordo - f.o.b. Applies to goods delivered and loaded onto a ship at a port of shipment specified in the sales contract.

free (foreign) exchange divisa(s) de libre convertibilidad Foreign exchange which is freely convertible. free funds [IDA] fondos de libre utilizacion Funds provided to IDA in a freely convertible currency or in a member's currency if available for financing procurement in the territory of the member, if there is a reasonable expectation that such resources will be fully used for procurement in such territory during the disbursement period. free in and out - fio franco de carga y descarga - f.Lo. A chartering term by which is meant that the owner who charters his ship is responsible for all the usual costs of ship management with the exception of loading and discharging cargo and of putting the vessel in dry dock if required to do so by the charterer. free limit [ffiRD] limite de aprobacion autonoma The limit on a free-limit loan. free-limit loan [DFCs] prestamo de aprobacion autonoma A loan which does not exceed the amount above which onlending is subject to official approval. free limit ofloan [DFCs] limite maximo de los prestamos de aprobacion autonoma free-limit subloan subprestamo de aprobacion autonoma A subloan which does not exceed the limit above which onlending is subject to Bank review. free market economy; free-enterprise economy economia de libre empresa

free on board (FOB) port of shipment price precio f.o.b. puerto de embarque free on quay - FOQ; free on wharf - FOW franco en muelle Same as free alongside ship (F AS) free on rail - FOR franco vagon Applies to goods delivered and loaded to the railway. free on wharf see free on quay free port puerto franco, Iibre Area sometimes found in large ports where provision is made for reshipping imported goods without taking them through customs. free reserves reservas disponibles Total reserves held by a bank less reserves required by authorities. free resource ratio see gearing ratio free rider [economics] que se beneficia sin asumir carga algona In banking, a bank that collects full interest due on outstanding loans without contributing to the new money loans which provide, in part, the resources to pay future interest. In other contexts, any party that benefits from the activities of others without making any contribution. free-standing; self-contained independiente; autonomo free-standing loan prestamo independiente, autonomo

92 free-standing project proyecto iodepeodieote, autooomo free-standing technical assistance - FSTA asisteocia tecoica iodepeodieote Technical assistance independent of a loan. free trade Iibre comercio; libre iotercambio free trade area zooa de libre comercio free trade zone - FTZ; bonded area zooa fra~ca freely convertible currency mooed a de Iibre coovertibilidad freely usable currency moneda de libre uso 1. Any currency designated as such by the International MonetaJy Fund from time to time. 2. Any other freely available and effectively usable currency which the Board of Directors may designate for the purposes of the Convention after consultation with the International Monetary Fund and with the approval of the country of such currency. Will normally apply to the United States dollars, Japanese yen, Deutsche marks, French francs and pound sterling. freeze (of salaries, prices, etc.) coogelacioo [see also price freeze] freeze drying deshidratacion por congelacion; liofilizacioo fresh fruit bunch - FFB racimo de frotas frescas frictional unemployment desempleo fricciooal fringe benefits prestaciooes suplemeotarias front-end cost costo inicial

front-end fee comision ioicial Fee levied on borrower when a loan is first made. The World Bank used to levy a front-end fee on its loans but no longer does. frontier technology tecnologia avanzada, de vanguardia front-loaded spending gasto concentrado al comieozo de uo periodo front loading desembolsos, gastos, reembolsos, etc., coocentrados al comienzo de uo periodo front loading of the subscription [ffiRD] mayor pago inicial de la porcion pagada de las suscripciones de capital front office direcci6n frozen capital capital congelado, bloqueado fruit vegetable hortaliza de frota fuel cell celula energetica; pita de combustible fuel efficiency eficiencia eo la utilizaci6n del combustible fuel oil petroleo residual, combustible; fuel oil full budgeting presupuestacion completa full cost accounting contabilidad de costo total A method of accounting in the oil and gas industry in which costs of unsuccessful acquisition and exploration activities are initially recorded as assets and then amortized as expenses as the total reserves in the cost center are produced.

93 (full cost) nominal budget planning, budgeting planificaci6n presupuestaria nominal Budget planning based on a fixed overall sum for the budget, rather than for a fixed amount of items, with allowances for cost increases.

funding pro rata participati6n proporcional Type of mRD "B" loan, whereby mRD takes a pro rata share of about 10 percent in each maturity of the commercial loan.

full cost pricing valoraci6n a costo total

funds flow; flow of funds flujo de fondos; corriente de fondos The flow of purchasing power into and out of an organization. Inward flows include sales revenue, sales of fixed assets and investments, and issues of debentures, loans, and shares. Outward flows include purchases of fixed assets and investments, repayment of debt, payment of dividends, and taxation on profits.

full member miembro de pleno derecho full development, at [project] en pleno funcionamiento full mission mision general

funds flow statement see statement of changes in financial position

full payout lease see finance lease fully allocated cost costo total mente imputado Cost derived from the apportionment of the total costs of operating an enterprise by distributing this total among the various units or classes or service in such a manner that the sum of the costs imputed to each unit or class is made to equal the total costs. fully funded system sistema financiado con fondos propios fully paid stock see paid-up stock functional literacy alfabetizaci6n funtional funded debt deuda consoIidada The debt of a business or government in the form of outstanding bonds and other long-term notes. funding gap breeha, deficit de financiamiento funding latter maturities financiamiento de los ultimos vencimientos Type of mRD "B" loan, whereby mRD would take an initial share of the loan up to about 25 percent, concentrated in the latter maturities.

funds-in-trust fondos fidutiarios Funds held by one agency on behalf of another when the first agency is implementing a project on behalf of the other agency. funds statement see statement of changes in financial position fungible funds fondos intercambiables, transferibles fungible goods bienes fungibles funk money [UK] see hot money

furrow irrigation riego por surtos futures futuros An agreement to take or make delivery of a specific commodity or instrument on a particular date. futures market mercado de futuros Market where futures contracts are bought and sold.

94

-G-

galloping inflation inftacion galopante game see management game; negative sum game; plus sum game; zero sum game gap brecha; deficit; diferencia gap theory teoria de recuperacion de los bosques The process by which tropical forest regenerates spaces opened by windfalls. gas flaring quema de gas The burning of gas in the field as a means of disposal when there is no market for the gas. gazetted (protected) public forest bosque publico protegido Woodlots which have been subjected to a formal act of classification or where the State has carried out reafforestation. gearing [UK]; leverage nivel de endeudamiento relativo al capital; relacion endeudamiento-capital propio gearing ratio; free resource ratio; capital gearing ratio relacion prestamos desembolsados y pendientes-capital y reservas [Banco Mundial]; relacion pasivo-capital 1. [UK] [= leverage ratio in US] Ratio of debtlliabilities to equity/assets. Includes debt and debt-equity ratios. 2. [IBRD] Ratio of capital plus reserves to loans outstanding and loans disbursed. gearing ratio [IFC] relacion pasivo-capital Ratio of outstanding investments and guarantees to the capital base.

gender issues cuestiones que afectan a la mujer; cuestiones relativas a las desigualdades entre los sexos, a las diferencias de roles del hombre y la mujer; a veces: discriminacion sexual gene bank [plants] banco de genes gene pool reserva genetica, genic a General Algebraic Modeling System - GAMS [IBRD] sistema de modelos a1gebraicos generales General Capital Increase - GCI aumento general del capital general cargo carga general; carga mixta general equilibrium analysis analisis del equilibrio general general equilibrium model see computable general equilibrium model general government [national accounts] administraciones publicas General Loss Reserve [IFC] Reserva general para perdidas Loss Reserve set up to replace Unidentified Loss Reserve. It broadens the reserve coverage to the entire disbursed portfolio, excluding the portion on which there are specific loss reserves. general price level accounting; price level accounting contabilidad segUn el nivel general de precios general procurement notice anuncio general de adquisiciones A notice of bidding opportunities in a competitive bid. It should contain information concerning the recipient, amount and purpose of the loan, describe the goods and works to be procured, 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] Reserva General Generalized System of Preferences - GSP Sistema Generalizado de Preferencias - SGP generated traffic trlflco generado generic drug producto fannadutico generico; medicamento generico geothermal deposit yacimiento geotennico germplasm germoplasma ghost fishing pesca fantasma Fish killed by being caught in lost or discarded fishing nets, traps and other fishing gear. ghost worker empleado "fantasma" Worker who is drawing pay but is not actually doing any work, e.g. because he is dead, does not exist or is doing another job. gill fishing pesca por enmalle Fishing using a flat net suspended vertically in the water with meshes that allow the head of a fish to pass but entangles its gill covers as it seeks to withdraw. gilt-edged securities valores de primer orden; bonos del gobierno britinico ginning [cotton] desmotado Global Cap Authority [IFC] facoltad de adquisidon de contratos con inteRS tope Authority given by the Board to IFe to purchase contracts with interest rate ceilings (caps) and then sell to its borrowers. It reflects the total amount of caps, in dollars, that IFe is authorized to make.

global commons patrimonio natural de la bumanidad; bienes comunes de la bumanidad The elements of the Earth and atmosphere, comprising the oceans and sea bed, the atmosphere and outer space, which are not the property of any one nation or individual and are therefore deemed to the property of all. global depositaIy receipt - GDR cenificado internadonal de deposito Instrument that allows trading of stocks on foreign exchanges when the country concerned will not allow foreign ownership of the stock of domestic firms. The shares are deposited with a bank in the country of incorporation and an affiliate or correspondent bank in other countries issues depositaIy receipts for the securities. They can then be traded on stock exchanges in the same way as other securities. Used, for example, in Korea. Global Swap Authority [IFC] facultad para efectuar swaps Authority given to IFe by the Board to borrow from the markets up to a level of US$2S0 million equivalent through private placements and direct institutional loans. global warming recalentamiento atmosferico, de la Tierra; calentamiento de la Tierra; aumento de la temperatura mundial The predicted excessive warming of the atmosphere, as a result of the accumulation of atmospheric carbon-based and other heat absorbing gases. global warming potential - GWP potencial de recalentamiento atmosferico, de la Tierra The extent to which individual emissions contribute to global warming. globalization g1obalizacion glued-together household unidad familiar con intereses en comu GNP price deflator dell actor de precios del PNB

96 going concern empresa en plena actividad y crecimiento going price precio corriente, vigente gold content (e.g. of US dollar) contenido de oro The amount of gold formally maintained in the legal tender of a currency. From January 1934 to May 1972, the gold content of the United States dollar was 0.888671 gram of tine gold. This dollar was used as the common denominator of the value of capital subscriptions for the Bank and Fund. Because the US changed the value of the US dollar, partially because of the abolition of the official price of gold, the Fund (in 1978) and the Bank (in 1986) ceased to used the US dollar for this purpose and adopted the Special Drawing Right in its place. gold holdings tenencias en oro; reservas de oro gold-pegged currency moneda vinculada at oro gold value valor oro golden share accion con derecho de veto Single share in a privatized company which gives the holder (usually the government) the right to block certain key decisions. good practice project proyecto modelo Project using good project design and a good approach to a special operational emphasis area, such as women in development. goods and services bienes y servicios goodwill fondo de comercio; a veces: "derecho de lIave"

goodwill clause chiusula de buena voluntad A clause in a Paris Club loan agreement that commits the creditors to consider debt relief after the end of the stipulated consolidation period. In return, creditor countries ask the debtor country to meet two conditions. Firstly, the debtor country must have secured debt relief from creditors not covered by the Paris Club agreement and secondly at the time the creditors agree to review the need for further debt relief, the country remains eligible for use of upper credit tranche IMF resources. governance gobiemo; buen gobiemo; buen ejercicio del poder; buena gestion de la cosa pUblica; direccion; conduccion The exercise of political power to manage a nation's affairs. Public service that is efficient, a judicial system that is reliable and an administration that is accountable to its public. governing law derecho, ley aplicable government gobiemo; autoridades; Estado government bond bono publico, del Estado government expenditure gasto(s) publico(s) government-owned programs programas preparados por el gobiemo mismo government paper efectos publicos government receipts, revenues ingresos publicos; rentas publicas government securities efectos, valores publicos, del Estado government services administracion publica

97 grace period periodo de gracia The period allowed in a loan schedule during which repayments of loan principal need not be made.

grant-in-aid donation; subvencion

grade creep tendencia hacia categorias mas altas de clasificacion del personal Tendency for the employees of an organization to be in a higher average classification as people rise up the scale but do not leave the organization.

graphical user interface - GUI interfaz grMica para el usuario

grade ratio; retention rate (education] tasa de retencion Ratio between enrolment in a given grade and enrolment in the previous grade the previous school year. grading see land grading graduate, to [Bank, IDA] "graduarse"; pasar de las condiciones de asistencia de la AIF a Jas del Banco; dejar de reunir las condiciones para recibir financiamiento del Banco graduated tax impuesto progresivo graduation (ffiRD] graduacion (paso de Jas condiciones de Ja AIF a las del Banco; terminacion del derecho a financiamiento del Banco)

grant-like contribution aportacion con caracteristicas de donacion

grass root plant; greenfield plant planta totalmente nueva grass root(s) level, at the a nivel popular, comunitario, local; de base grass roots organization organizacion de base, comunitaria graveling; regraveling recubrimiento, aplicacion de grava gravel road camino de grava gravity check irrigation see bordercheck irrigation gravity irrigation riego por gravedad gray cotton; light gray cotton; blue stained cotton algodon gris claro A discolored cotton which has been stained to a gray color by exposure. gray market see grey market

graduation mission (ffiRD] mision de finalizacion (previa a la terminacion de un proyecto) grandfather clause clausula de exencion por derechos adquiridos grant basis, on a a titulo de donacion grant element factor, elemento concesionario, de donacion

grant equivalent equivalente en donacion

green projects proyectos verdes Projects concerned with the promotion of sustainable natural-resource management and the reduction of resource degradation, including agriculture and land management, forest management, water-resource and watershed management, marine and coastal-zone management, and biodiversity conservation. Cf. blue projects, brown projects.

greenfield investment inversion de tipo totalmente nuevo

98 greenfield plant; grass root plant planta totalmente nueva greenfield project proyecto totalmente nuevo greenhouse effect efecto de invernadero Increased retention of heat energy by the Earth's atmosphere as a result of increased emissions of carbon-based and other heat absorbing gases, including chlorofluorocarbon and carbon dioxide. greenhouse gas - GHG gas que produce el efecto de invernadero Gas that helps cause the greenhouse effect. Includes carbon dioxide, methane and chlorofluorocarbons. greenhouse index indice de invernadero Net emissions of three major greenhouse gases (carbon dioxide, methane and chlorofluorocarbons), with each gas weighted according to its heat trapping quality, in carbon dioxide equivalents and expressed in metric tons of carbon per capita. green labeling etiquetas verdes Labeling goods that are considered environmentally sound. Has been proposed for wood grown under sustainable conditions.

gross domestic income - GDY ingreso interno bl1lto - YIB Gross income from domestic as opposed to foreign sources. gross domestic investment - GDI inversion intern a bl1lta - DB Outlays for additions to the fixed assets of the economy plus the net value of inventory changes. gross domestic product· GDP producto interno bl1lto - PIB; producto geografico bl1lto - PGB [Chile]; producto territorial bl1lto [peru] [see also commercial, commercialized GDP; monetized GDP] gross domestic product at factor cost producto interno bl1lto at costo de los factores The gross domestic product at market prices minus the difference between indirect taxes and subsidies. gross domestic product at market prices producto interno bl1lto a precios de mercado The sum of the income accruing from production, i.e. the provision for consumption of fixed assets, compensation of employees, operating surplus and the excess of indirect taxes over subsidies.

grey market~ gray market

gross earnings margin [banks]; gross margin; banker's spread; banker's markup margen (bancario) bl1lto Interest received on loans less interest paid on deposits plus other income (interest received on investments, gains or losses in foreign exchange operations and commissions and fees received and paid).

mercado gris Market in bonds that have not been given a firm price.

gross enrollment ratio see gross (primary) enrollment ratio

green manure abono verde

gross budget presupuesto bl1lto Bank budget including non·Bank resources (e.g. from Trust funds and reimbursable programs). gross calorific value· GCV; gross heating value GHV; higher heating value poder calorifico bl1lto - PCB Total amount of heat produced by combustion.

gross fixed capital expenditure; gross fixed investment inversion bl1lta en capital fijo; gasto bl1lto de capital fijo The addition during a period of time - usually a year - to a country's stock of fixed capital without making any allowance for the depreciation of the existing fixed capital.

99 gross fixed capital formation - GFCF formacion bruta de capital fijo The outlays of industries, producers of government services and producers of private non-profit services to households, on additions of new durable goods to their stocks of fixed assets less their net sales of similar second-hand and scrapped goods. Excludes government outlays on military goods. gross fixed investment; gross fixed capital expenditure inversion bruta en capital fijo; gasto bruto de capital fijo The addition during a period of time - usually a year - to a country's stock of fixed capital without making any allowance for the depreciation of the existing fixed capitaL gross heating value - GHV; gross calorific valueGCV; higher heating value poder calorifico bruto - PCB Total amount of heat produced by combustion. gross margin; banker's spread; banker's markup; gross earnings margin [banks] margen (baneario) bruto Interest received on loans less interest paid on deposits plus other income (interest received on investments, gains or losses in foreign exchange operations and commissions and fees received and paid). gross material product - GMP producto material bruto - PMB Corresponds to gross domestic product less output of certain services, such as public administration, defense, education, health and social insurance. Used instead of GNP in state-trading countries. gross national income - GNY ingreso nacional bruto - YNB Gross national product and a terms of trade adjustment. The terms of trade adjustment reflects changes in the capacity of exports to buy imports. gross national investment - GNI inversion nacional bruta - INB The total of new capital goods built with allowing for wear and tear on existing capital.

gross national product - GNP producto nacional bruto - PNB gross operating profit utilidad bruta de operacion, de explotaeion Difference between total output per period and the costs of goods and services purchased to produce this output less cost of labor and taxes (excluding income tax). The English term is invented as the concept does not exist in US and UK accounting. gross (primary) enrollment ratio - GER tasa bruta de matricula (primaria) Total number of children enrolled in school as a percentage of the school-age population. gross (register) tonnage - GRT [shipping] tonelaje (de registro) bruto A measure of the total space of a vessel in terms of 100 cubic feet (equivalent tons) including middeck, between deck and the closed-in spaces above the upper deck, less certain exemptions. gross value product - GVP producto agricola bruto The total value of all agricultural production for a given country in a given year, expressed in constant dollars. groundwater table nivel freatico; eapa freatica group credit crMito colectivo Group of Fifteen Grupo de los Quince Created in September 1989 to promote SouthSouth cooperation, it consists of Algeria, Argentina, Brazil, Egypt, India, Indonesia, Jamaica, Malaysia, Mexico, Nigeria, Peru, Senegal, Venezuela, the former Yugoslavia and Zimbabwe. Chile joined in 1993. Group of Five Grupo de los Cinco Informal meeting of senior officials (usually ministers of finance or heads of state) of the five most industrialized nations (France, Germany, Japan, UK, US).

100 Group of Seven Gnapo de 108 Siete Informal meetings of senior officials (usually ministers offinance or heads of state) of the seven most industrialized countries (Canada, France, Germany, Italy, Japan, UK. US). Cf Group of Five.

growing period periodo vegetativo, de crecimiento Period during the year roughly between spring and autumn when crops grow, usually from seed to full maturity and ripen for harvesting. It corresponds to the period when mean daily temperatures are above 6 degrees C.

Group of Seventy-Seven Gnapo de los 77 Set up in 1967, it is an informal meeting of senior officialslministerslheads of state of the developing countries. It currently has 128 members plus the PLO.

growth accounting [econometry] analisis del crecimiento Decomposition of the observed rate of economic growth of a given country into components corresponding to factors of production responsible for growth.

Group ofTen Gnapo de 108 Diez Also known as the Paris Club, it consists of the wealthiest members of the IMF that provide most of the money for lending. It currently has eleven members: Belgium, Canada, France, Germany, Italy, Japan, Netherlands, Sweden, Switzerland, UK, US.

guarantee authority facultad de otorgar garantias

Group of Twenty-Four Gnapo de 108 Veinticuatro Set up in 1972, it exists to promote the interests of developing countries in the IMF. Current Algeria, Argentina. Brazil, membership: Colombia, cate d'Ivoire, Egypt, Ethiopia. Gabon, Ghana, Guatemala. India. Iran. Lebanon. Mexico, Nigeria, Pakistan, Peru, Philippines, Sri Lanka, Syria, Trinidad and Tobago, Venezuela, former Yugoslavia, Zaire. group travel [World Bank] viaje en gnapo Travel by Executive Directors to member countries outside their constituencies. growing concern empresa en plena actividad y crecimiento

guarantee capacity [MIGA] capacidad de garantia guarantee commission, fee [ffiRD] comision de garantia Commission payable periodically (e.g. to mRD) as compensation for the risk in guaranteeing a loan. guarantee currency moneda de la garantia The currency designated as the currency for the guarantee in the contract. guarantee holder [MIGA] tenedor de la garantia Holder of a guarantee issued by MIGA. guarantee leverage capacidad de endeudamiento en, por concepto de garantias guaranteed percentage porcentaje garantizado 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

-H-

hairy cotton; upland cotton algodon velloso; algodon upland; algodon americano halfway country pais medianamente industrializado; pais pareialmente industrializado A country that is on the way to being industrialized but is not yet fully industrialized. handles see tax handles handling charges cargos por manipulacion, tramitacion, etc. harbor dues, fees; port dues derechos portuarios Charged for the use of the port by the ship and its cargo. hard-blend countries paises que reciben financiamiento en condiciones predominantemente gravosas Country receiving more loans from ffiRD than credits from IDA. hard coal; anthracite antradta; carbon antracitoso hard component [projects] componente fisico hard copy copia impresa; salida impresa hard core [projects] nudeo; base; basico; minimo hard currency; strong currency moneda fuem hard loan prestamo en condiciones ordinarias, de mereado

hard loan window senicio, entidad de prestamos en condiciones ordinarias, no concesionarias hard technical assistance see engineering-related technical assistance hardening of loan terms tendencia a condiciones de prestamo mas gravosas hardship allowance subsidio por lugar de destino dificit hardware componentes fisicos; equipo de computacion harmonic mean [statistics] media armonica A special kind of mean which is determined by calculating the mean of the reciprocals of the values concerned and then calculating the reciprocal of this quantity. harnessing captacion; movilizacion; aprovecbamiento; etc. harvest fishery see capture fishery hardwood forest bosque de especies frondosas, no coniferas head gate structure [irrigation) estructura de cabecera

head hunting busqueda de personal calificado head tax; poll tax; capitation tax impuesto de capitacion headcount index (measure) of poverty; headcount ratio-HCR indice de recuento de la pobreza A useful way to measure poverty by expressing the number of poor as a proportion of the population although it ignores the extent to which the poor fall below the poverty line.

103 headroom [World Bank] margen de maniobra The difference between the statutory lending limit and the value of loans that are disbursed and outstanding.

heavy industry industria pesada

health delivery system sistema de prestacion de servicios de salud

heavy oil aceite, petr6leo pesado

health maintenance organization - HMO organizacion de medicina preventiva; centro integral de salud An organized health care delivery system where participants pay a fixed, regular sum and receive an agreed range of health services from an approved set of health care providers. Health system where medical care is provided directly by salaried employees in facilities owned by the HMO.

hedge [securities market] valor de protection Security acquired to cover possible loss on speculative investments.

health post puesto de salud; dispensario health screening reconocimiento, examen medico heating oil petrnleo, combustible para calefaccion heat rate rendimiento tcrmico; consumo calorifico heat trapping retention termica The ability of a gas to prevent heat escaping from the Earth's atmosphere. heat trapping gas gas que produce retention tcrmica Gases, such as carbon dioxide and methane, that trap heat in the ozone layer. heat value poder calorifico heavy commodities productos pesados heavy engineering industry industria metalmecanica

heavy fuel oil petr6leo combustible pesado

hedge clause c1ausula de salvaguardia hedging operaciones de cobertura, de proteccion cambiaria hedonic price analysis anilisis del valor hedonico; anilisis hedonico de los precios Economic analysis technique which takes into account the implicit prices of specific characteristics of properties. For example, in the environment field, it places value on improvements or deterioration in environmental quality. herbaceous cotton; Levant cotton; American short staple cotton; Arabian cotton algodon herbaceo hidden hunger hambre oculta, encubierta hidden inflation inOacion latente, oculia hidden reserves reservas ocultas hidden unemployment; concealed, covert, disguised unemployment desempleo oculto, encubierto, disfrazado

104 high absorber [oil exporter] pais de elevada absorci6n, de gran capacidad de absorci6n Oil exporting capital surplus country which is a net importer of capital and has been able to make full use of revenues from oil production for domestic development. Includes Algeria, Ecuador, Gabon, Indonesia, Nigeria and Venezuela. high-flow diversion see floodway high fructose corn syrup - FlFCS sirope, jarabe de mm de alto contenido en fructosa high income countries paises de ingreso alto high performing economy pais de gran crecimiento econ6mico high school see junior high school

highly leveraged con alto coeficiente de endeudamiento; con gran endeudamiento Highways Design and Maintenance Model - HDM [ffiRD]

modelo de normas de diseilo y mantenimiento de carreteras A mathematical model based on two earlier models developed by the Massachusetts Institute of Technology and the Transport and Road Research Laboratory, UK, used to determine the total lifecycle transportation cost, provide economic comparisons for large numbers of alternative designs and maintenance policies and search for the lowest total cost alternative, hillside farming cultivo en pendiente hire purchase [UK] compra a plazos

high-power(ed) money dinero de alta potencia [teoria monetarista); base monetaria; dinero primario; dinero de la Reserva Federal de los EE.UU. para uso de los bancos comerciales

historical cost valor inicial; precio de compra, de adquisicion

higher heating value; gross heating value - GHV; gross calorific value - GCV poder calorffico bruto - PCB Total amount of heat produced by combustion,

hit-and-run project proyecto de muy corto plazo, rei amp ago Project where an investor takes advantage of local tax laws to operate a project (e,g. mining, textiles) under a tax-free regime and then withdraws as soon as he is liable for taxation, often leaving severely depreciated equipment or exhausted mineral reserves,

higher income brackets grupos de ingresos mas elevados higher level staff personal, funcionarios de nivel profesional higher training estudios avanzados highest bidder licitante que presenta la oferta mas alta highland rice; upland rice; mountain rice arroz de montaiia, de tierras altas, de secano highly indebted country pais muy endeudado, sumamente endeudado, fuertemente endeudado

historically valued assets activos a su valor de adquisici6n

holding company sociedad de cartera, de inversiones holdings [foreign exchange, gold] tenencias [en, de divisas, oro] home country [MIGA] pais de origen The country or countries whose membership in MIGA made the Guarantee Holder eligible under Article 12 of the Convention Establishing MIGA to receive the guarantee provided for in a contract. home leave allowance [World Bank] asignacion para vacaciones en el pais de origen

105 hoof see cattle on the hoof horizontal equity equidad horizontal Treating taxpayers with the same amount of income equally irrespective of the source of income. horizontal integration integraci6n horizontal host country [MIGA] pais receptor [inversiones]; pais beneficia rio, anfitrion A member, its government or any public authority of a member in whose territories, as defined in article 66 of the Convention, an investment which has been guaranteed or reinsured, or is considered for guarantee or reinsurance by MIGA is to be located. Host Organization [ICSID] Organismo Anfitrion

housing stock disponibilidades de viviendas hub and spoke system sistema radial human immunodeficiency virus - HIV virus de la inmunodeficiencia humana - VIH human resource development perfeccionamiento de los recursos humanos human settlements asentamientos humanos hurdle rate tasa critica de rentabilidad A somewhat arbitrary rate of return, related to the current cost of borrowing money, set by a government or company to guide investment decisions. Below this limit, investment is normally considered inadvisable. husbandry see animal husbandry

hot money; funk: money [UK] capitales itinerantes Short-term international capital movements, motivated by interest rate differentials or revaluation hopes/devaluation fears.

husk, to; dehusk, to descascarar; deshojar

household expenditure survey - RES encuesta de gastos familiares

hybrid capital base [IFC] base de capital hibrida Capital base consisting of current paid-in capital and retained earnings to support growth in operations with the debt-equity ratio not exceeding 2.5:1, combined with new callable capital to support investment growth in a 1: 1 gearing ratio.

household goods enseres domesticos

hydrant; standpipe; standpost toma de agua

household survey encuesta por, de hogares

hydrocracking hidrocraqueo

household waste collection charge tarifa de recoleccion de basura(s) Charge levied for removal of household waste.

hydrodevelopment aprovechamiento de la energia hidroelectrica

house connection conexion domiciliaria

housing expenses/income ratio; affordability ratio relacion gastos de vivienda-ingresos The ratio of expenditure on housing to total income.

hydroelectric power; hydropower energia hidroelectrica hydrofluoroalkane - HFA 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 capitalization, liquidity, and industry classification. -1-

ICSID clauses chi.usulas contractuales que estipulan someter las diferencias aI CIADI; chiusulas del CIADI IDA-eligible country pais que puede recibir creditos, financiamiento de la AIF; pais babilitado para recibir creditos de la AIF Developing country which is entitled to receive IDA credits because its per capita income is below the IDA nonn. IDA management fee comision por administracion de la AIF IDA recipient pais prestatario de la AIF; receptor de creditos de laAIF IDAreflows reembolsos de los creditos de la AIF; reflujos de los creditos de la AIF Payments received by IDA in the fonn of reimbursements for credits made. IDA's "free-funds" fondos de Iibre utilizacion de la AIF Funds provided to IDA in a freely convertible currency or in a member's currency if available for financing procurement in the territory of the member, if there is a reasonable expectation that such resources will be fully used for procurement in such territory during the disbursement period. idle cash dinero inactivo IFC Global Indexes (IFCG Indexes) Indices de Cobertura AmpUa de la CFI (Indices IFCG) The IFCG Indexes are neutral and reliable benchmarks of emerging markets' perfonnance, calculated in a unifonn manner. They include price and total return indexes for 20 emerging markets, as well as a composite index for those 20 markets and regional indexes for Latin America and Asia. Stocks are selected for inclusion in each

IFC Investable Indexes (IFCI Indexes) Indices de la CFI de Valores para Inversion (Indices IFCI) These Indexes are calculated using the same factors as the IFC Global Indexes but also take into account the extent to which national laws, regulations, or company statutes prohibit or limit foreign ownership. They thus provide global investors with a definitive benchmark of the perfonnance of stocks in emerging markets in which they can invest. IFC risk assets-equity ratio relacion activos de riesgo-patrimonio Ratio calculated by measuring the risk content of IFe's assets in relation to the sum of paid-in capital and retained earnings. illegal housing vivienda ilegal illegality clause e1ausula de i1egalidad Clause in a loan agreement which allows the lender to ask for repayment of his funds if a change in national legislation obliges him to withdraw from the loan. illiteracy rate tasa de analfabetismo Proportion of population 15 years and older who cannot, with understanding, both read and write a short simple statement on every day life. immunity from taxation inmunidad tributaria impact (evaluation) report informe de evaluacion de los efectos; informe sobre las repercusiones (de un proyecto) Implementation Completion Report - ICR informe final de ejecucion - IFE implementing agency organismo de ejecucion implementing agreement acuerdo de ejecucion

108 implicit deflator denactor implicito Obtained by taking each component of gross national product in as fine detail as possible and deflating it from current data. Once deflated the components are again aggregated to obtain GNP in constant dollars. implicit gross domestic product deflator denactor implicito del producto interno bruto A deflator calculated by dividing, for each year of the period, the value of GDP in current market prices by the value of GDP in constant market prices, both in national currency. implied money control theory teoria del control del dinero implicito import coefficient coeficiente de importaciones (importacioneslproduccion total) import component componente importado, de importacion import coverage index indice de cobertura de las importaciones import coverage ratio coeficiente, relacion de cobertura de las importaciones The rate at which imports are covered by exports. import growth rate tasa de aumento, crecimiento de las importaciones import-intensive con gran intensidad de importaciones; con alto contenido de importaciones import levy gravamen a las importaciones import licensing sistema, regimen de licencias de importacion import parity price precio paritario de importacion The estimated price at the farm gate or project boundary derived by adjusting the cif or fob prices by all the relevant charges between the fann gate

and the project boundary and the point where the cif or fob price is quoted. import quota cuota, cupo de importacion import subsidy subvencion, subsidio a las importaciones import substitution sustitucion de importaciones import surcharge recargo a la(s) importacion(es) importing power of exports capacidad de importacion derivada de las exportaciones imprest account, fund cuenta de anticipos; fondo de anticipos An account or fund maintained for payments made in cash, commonly used as a petty cash fund. A fixed maximum sum is kept in the fund and, as the fund is depleted, this sum is periodically brought up to the maximum. imputed costs costos imputados Generally used to mean costs that do not involve at any time actual cash outlay and which do not, therefore, appear in the accounting records but are relevant to the decision at hand. imputed value valor imputado inactive borrower, nonactive borrower prestatario inactivo Country that is not currently seeking new borrowings from the Bank. inactive loan prestamo in activo A loan which is in force but not being disbursed. Inaugural Meeting [ICSID] Reunion Inaugural in-bond industries empresas, industrias maquiladoras; industrias de zona franca

109 incentive incentivo; estimulo incentive payment incentivo en dinero; prima; bonificacion incentive price precio de incentivo inception report informe inicial incidence [medicine] incidencia incidental services servicios conexos Additional services required of the supplier as specified in the Special Conditions of Contract, including on-site assembly, startup, provision of tools required for assembly, provision of manuals, etc. income ingreso(s); renta income (and expenditure) account cuenta de ingresos y gastos, de perdidas y ganancias income and outlay accounts [national accounts] cuentas de ingresos y gastos Accounts showing the receipt and disbursement of incomes by resident institutional units. income bracket grupo, categoria, nivel de ingreso(s) income effect efecto de ingreso, de renta income elasticity elasticidad-ingreso; elasticidad con respecto al ingreso A measure of the change in supply and/or demand as income changes.

income elasticity of demand elasticidad-ingreso de la demanda; elasticidad de la demanda en funcion del ingreso A measure of the percentage change in the demand for a commodity or service as induced by a given percentage change in the income of the individual. income note bono, pagare participatorio Note where the income is wholly or partially dependent on the earnings of the issuing corporation. income shortfall insuficiencia de ingresos [see also poverty gap] income statement [US]; profit and loss account [UK]

estado de ingresos y gastos, de perdidas y ganancias [see also consolidated income statement] income tax impuesto sobre, a la renta income tax [corporations] impuesto sobre, a las utilidades, los beneficios income tax return declaracion del impuesto sobre la renta income terms of trade relacion de intercambio de ingresos The net barter terms of trade weighted by the volume of exports. It gives an indication of the purchasing power of exports. incremental benefits beneficios adicionales incremental budgeting presupuestacion incremental A budget process in which justification is 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 relacion incremental capital-producto Ratio of the change in capital investment (net of gross investment minus capital consumption allowances) to the change in output. If a certain industry adds $2.5 million net to its capital equipment and its yearly output increases by $1 million then its ICOR is 2.5:l. incremental cost costo incremental [see also average incremental cost] incremental housing, building construccion progresiva de viviendas Building, usually from a core where additional features are gradually added. incremental rate of return tasa diferencial de rentabilidad The discount rate which equalizes the present value of incremental costs with the incremental benefits of the project. indefinite quantity contract contrato por cantidades indeterminadas Contract which provides for the provision of an indefinite quantity of specific goods or services, within stated limits and during a specified period. independent variable; predictor variable independiente, predictiva indexed, index-linked bond bono ajustable, indizado Bond where the coupon rate or redemption value is indexed (to other currencies, gold, or fuel prices). indexed, index-linked, index-tied loan prestamo indizado, reajustado segim un indice Indicative Planning Figures - IPF [UNDP] cifras indicativas de planificacion - CIP UNDP target expenditures for technical cooperation. indicator see concurrent indicator; convergent indicator; economic indicator; lagging indicator; leading indicator; performance indicators indifference curve curva de indiferencia

A graphical representation of different bundles of, say, two commodities, from the consumption of which the individual derives the same amount of total utility. If we assume an individual obtains the same utility from a bundle of 5 bananas and 6 mangoes or 4 bananas and 8 mangoes or 3 bananas and 11 mangoes, we can plot a graph with bananas as the x-axis and mangoes as the y-axis. We get three points for the three different bundles. The curve we obtain by joining these points is the indifference curve, so called because the individual is indifferent about his choice as regards total utility. indigenization reemplazo de personal extranjero por personal nacional indigenous NGO ONG autoctona indirect costs; on-costs [UK] costos indirectos induced-by benefit beneficio inducido indirecto A form of indirect benefit that accrues to suppliers of project inputs. Includes the direct and indirect value added to national income generated by the investment and recurrent expenditures of a project. Equivalent to using a shadow price for a project input for which an adjustment is made for opportunity cost in the estimates of direct and indirect value added. Sometimes estimated using specialized forms of input-output multipliers. induced development effect; boomtown effect efecto secundario de urbanizacion The secondary growth of settlements and infrastructure, resulting from a project. industrial and trade policy adjustment - ITP A ajuste de la(s) politica(s) industrial y comercial industrial and trade policy adjustment loan ITPAL [World Bank] prestamo para ajuste de la(s) politica(s) industrial y comercial World Bank loan made to assist adjustment of a country's industrial and trade policy.

111 industrial deepening intensificacion industrial Increasing the amount of the industrial sector compared with other sectors. industrial estate [UK]. park (USA] zona, parque, poligono industrial industrial goods bienes, productos industriales industrial market economy pais industrial con economia de mercado industrial park (USA], estate [UK] zona, parque, poligono industrial industrial relations; labor-management relations; labor relations relaciones entre empleados y empleadores; relaciones obrero-patronales ineligible inadmisible; carente de derecho a; no habilitado; que no cumple los requisitos inertial inflation inflation inercial Inflation caused by spiraling wage and price increases.

inflationary expectations expectativas, previsiones inflacionarias inflationary gap brecba inflacionaria A condition of excess aggregate spending (for consumer. investment and government goods and services) relative to the spending that would be consistent with a full-employment stable economy. The gap is actually the amount of change in spending which would lead to stability. inflation premium prima de inflation A premium added to a security to allow for inflation. inflation tax impuesto de la inflacion; impuesto que significa la inflacion Increased income tax paid as wages rise with inflation but tax thresholds remain constant. inflow see capital inflow; cash inflows; flow inflow of capital entrada, atluencia de capital informal credit credito no institutional

infant industry industria naciente, incipiente

informal education educacion informal

infant mortality mortalidad infantil; mortalidad de ninos menores de un ano [see also child mortality]

informal meeting reunion oficiosa

infected area zona infestada, de infestacion inflation accounting contabilidad en periodos de inflacion Accounting for dealing with the impact of inflation. Includes the current purchasing power method whereby accounts are expressed in terms of purchasing units employing a retail price index; value accounting whereby assets are measured by reference to their value and not cost; replacement cost accounting whereby assets are revalued from historic to current costs.

informal sector sector no estructurado; sector informal The sector of the economy which is not organized and which, therefore, does not appear in official economic statistics. Sometimes used for the underground economy. informal suspension of disbursements [ffiRD] suspension no oficial de los desembolsos infrastructure developer empresa de obras y servicios de infraestructura in-house training capacitacion, formacion en la empresa

112 initial expenses gastos iniciales, de instalacion

input subsidy subvencion para insumos

initial operation actividades iniciales; explotacion inicial

input switching reasignacion de fondos presupuestarios Budget term whicli means managers can change budget allocations as a result of changing cost pressures over the range of expense accounts.

initial subscription [IDA] suscripcion inicial initiating memorandum - 1M [World Bank] primer memorando oficial in-kind costs costos de, en servicios inland fisheries, fishing pesca en agoas interiores input insumo; aportacion [see also cash input; noncash input] input mix combinacion de insumos input-output coefficient coeficiente de insumo-producto input-output model modelo de insumo-producto A mathematical model of inputs and outputs to a system. In econometrics it refers to a model representation of an input-output table. input-output ratio relacion insumo-producto input-output table tabla de insumo-producto A matrix which shows the way in which industries or sectors interact. It generally shows, for each industry, the amount of that industry's output that goes to each other industry as input (as raw materials or as semifinished products), as well as the amount that goes to the final markets of the economy. input shifting 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.

in-service training capacitacion, formacion, adiestramiento en el servicio insider dealer, trader especulador (en la Bolsa) que aprovecba informacion intern a insider dealing, trading especulacion (en la Bolsa) aprovecbando informacion interna instability index indice de variacion An index which measures the variability of world prices for selected agricultural commodities. installed capacity [electricity] capacidad instalada The maximum runoff of a hydroelectricity facility that can be constantly maintained and utilized by equipment. institutional framework marco, estructura institucional institutional investors instituciones inversionistas institutional performance desempeiio de las instituciones; actuacion de las instituciones institutional programs [ffiRD] programas de fortalecimiento institucional Programs undertaken that are required to further the institution itself, as opposed to being part of its operations. These would include production of the Annual Report, Annual Meetings and the like.

113 institutional ratio coeficiente interinstitucional The ratio between Bank subscriptions authorized solely in general capital increases and IMF quotas obtained solely from general quota increases. Used to determine the initial share allocation of countries joining the Bank during the period of the 1979 General Capital Increase. institution building desarrollo, fortalecimiento institucional instructional aid material didactico, pedagogico institution-related technical assistance; soft technical assistance asistencia tecnica relacionada con los componentes no fisicos 0 de servicios; asistencia tecnica para desarrollo institucional Technical assistance geared towards institutional development as opposed to engineering-related technical assistance.

integrated conservation-development project ICDP proyecto integrado de consen'acion y desarrollo A new type of experimental project that attempts to link the conservation of biological diversity in protected areas with local economic and social development. integrated management training program programa integrado de capacitacion y perfeccionamiento de funcionarios que ocupan cargos de direccion integrated pest management - IPM lucha integrada contra las plagas Growing farm crops with fewer chemical pesticides and more natural pest controls. Monitoring for pests and rotating plantings, the use of pesticides can be virtually eliminated on crops such as potatoes, com and apples. integrated rural development project proyecto de desarrollo rural integrado

Institution Rules [ICSID] Reglas de Iniciacion [see Rules of Procedure for the Institution of Conciliation and Arbitration Proceedings]

integration see backward-forward integration; backward integration

instrument [ICSID] instrumento (oficial)

intercompany pricing fijacion de precios de transferencia entre empresas

instrument of acceptance instrumento de aceptacion A legal document indicating that a state has accepted the rules and regulations of an organization it is joining.

interchange see course interchange

intercropping cultivo intercalado Growing two or more crops simultaneously as in alternate rows in the same field or single tract of land.

insurance see social insurance intake toma (de agua); ingesta; ingestion; admision; contingente; entrada [see also calorie intake] intangible assets, property activos, bienes intangibles, inmateriales Items or rights lacking physical existence, their value being mainly in their income generation potential and the rights and benefits that possession confers.

interest see beneficial interest; controlling interest; covered interest arbitrage; depositor rate of interest; effective interest rate; working interest interest bearing note pagare que devenga intereses interest charges intereses (cobrados, pagados)

114 interest coverage ratio - ICR; times interest earned ratio relacion de eobertura de intereses Net income before interest expenses divided by interest expenses. IFC's definition is "The number of times income, after deducting all expenses except borrowing charges and provision for losses, covers borrowing charges." interest during construction - IDC intereses durante la constl1lccion Interest payable on long-term or short-term debt incurred to finance capital works (e.g. plant or road construction in progress) in a fiscal year. Financing charges, including commitment fees, should also be included. IDC is frequently capitalized (or charged to the project cost) until the asset is commissioned or as a capital expenditure item it is transferred to a deferred charges or deferred capital expenditure account. For Bank projects IDC should be computed as part of project costs to determine total financing requirements. interest earnings, income ingresos por intereses interest equalization tax impuesto de igualacion, de equiparaeion de intereses A tax on foreign investments for the purpose of curtailing the outflow of private funds. interest income, earnings ingresos por intereses interest leakage fluctuacion de los tipos de intem debida a la fuga de capitales Changes in U.S. interest rates due to movement of funds from the U.S. to the Eurodollar markets. interest rate cap [ffiRD] tope de los tipos de interes A limit on the amount of interest that can be levied on a variable rate loan. Proposed for ffiRD. 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.

interest (rate) sensitivity sensibilidad a las tasas de interes Rate-sensitive assets as a percentage of ratesensitive liabilities interest (rate) swap intereambio, swap de tipos de interes An agreement to exchange floating rate payments for fixed-rate payments in the same currency. interest rebate rebaja de intereses interest service ratio coefieiente del servicio de los intereses Ratio of payment of interest on debt to exports of goods and services. interest subsidy, subsidization subvencion de intereses Interest Subsidy Fund [= Third Window] Fondo de Subvencion de Intereses [= Tercera Ventanilla] A lending facility to extend loans to the developing countries on terms intermediate between those charged by the Bank and IDA. Now discontinued. interest support apoyo de los intereses interfuel substitution sustitucion de combustibles Interim Committee [IMF] Comite Provisional interim financial statement estado financiero intermedio interindustry linkages eslabonamientos interindustriales, entre industrias interlocking debt deuda(s) reciproca(s)

115 intermediate goods bienes intermedios Those goods used as an input for further transformation by some other production activity, not for consumption or as an addition to the stock of fixed capital. intermediation intermediacion Process whereby a financial institution interposes its names and trustworthiness between a lender and a borrower. For example, instead of buying an issue directly from a corporation, an investor may deposit funds with a bank which, in tum, invests in the issue. [see also market intermediation] intermediation rate tasa de intermediacion intermediative borrowing prestamos obtenidos de intermediarios financieros Borrowing from financial intermediaries. internal audit auditoria intema; control intemo internal cash generation; internally generated funds; cash generation recursos propios; recursos provenientes de las operaciones The gross income from all sources less all operating and administrative expenses, excluding depreciation, interest, other non-cash charges and other charges on debt, and taxes. internal cross subsidy subvencion, subsidio cruzada(o) intema(o) internal exchange rate; modified Bruno ratio tipo de cambio intemo; coeficiente modificado de Bruno As for the Bruno ratio but using for the entire project life instead offor just one year. internal importing costs costos intemos de importacion internal rate of financial return see financial rate of return

internal rate of return - IRR tasa de rentabilidad intema The rate of retum on an asset investment. It is the discount rate that equates the present value of future net revenue streams (over the economic life of the asset) to the cost of the investment. [see also economic rate of return; financial rate of return] internally generated funds; cash generation; internal cash generation recursos propios; recursos provenientes de las operaciones international agricultural research centers - IARC centros intemacionales de investigaciones agrieoJas international banking facility - IBF senicio baneario intemacional International branch of a bank in a kind of internal free trade zone in the U.S., which allows banks to engage in international banking without some of the usual restrictions facing domestic banks. Those restrictions from which IBFs are exempt include reserve requirements, payment of certain insurance premiums, and special relief from state tax. international commodity agreements, arrangements eonvenios, aeuerdos intemacionales sobre productos basieos Any intergovernmental agreement or arrangement to promote international cooperation in a commodity, the parties to which include produces and consumers covering the bulk of world trade in the commodity concerned. international commodity bodies - ICBs organismos intemacionales de produetos basieos An international body concerned on a continuiing basis with the trade, production and consumption aspects of a commodity. international commodity organizations - ICOs organizaciones intemacionales de produetos basieos An organization established by an international commodity agreement to implement the provisions of the agreement.

116 International Comparison Project, Programme ICP Proyecto, Programa de Comparacion Internadonal - PCI A project supported by the World Bank and the United Nations which enables incomes to be compared in terms of the prices of a common set of consumer goods, which reflect real purchasing power. When outside financing dried up in 1987, the Project became a Programme, which is what it is now. international competitive bidding - ICB lidtadon publica internadonal Bidding open to all eligible suppliers and contractors. international competitiveness margin - ICM margen de competitividad internadonal The percentage by which the BanklFund payline should exceed the combined French/German market paylines to provide adequate international competitiveness. International Compilers Working Group on External Debt Statistics [WBIIMFIBIS/OECDlBerne Union] Grupo de Trabajo Internadonal de Compiladores de Estadisticas sabre la Deuda Externa international credit guarantee fund fondo internadonal de garantias de credito international credit guarantee system sistema internadonal de garantias de crMito international financial institutions - IFIs instituciones finanderas internacionales international liquidity Uquidez internadonal international payments position situadon de pagos internadonales international reserves resen'as internacionales international shopping comparadon internadonal de precios Procurement based on comparing price quotations from at least three foreign suppliers.

internship pasantia; intern ado; practica(s) intervention currency moneda de inten'endon Currency used by central bank for official intervention in the foreign exchange market. This currency is often not the same as the home currency, which may not be a convertible currency. intervention price precio de inten'encion The minimum price set by an agency at which a producer is guaranteed to sell his product. intra-day settlement pago en el dia Trading settlement within less than one day. inventory; inventories existencias; inventario(s) Raw materials and supplies, goods finished and being manufactured and stock on hand, in transit, in storage or consigned to others at the end of the accounting period. inventory control control de existendas, inventario(s) inventory investment inversion en existendas inventory turnover movimiento, rotacion del inventario, de las existencias inverted rates [electricity tariffs] tarifas progresivas Rate where the lowest block is the cheapest, in order to subsidize low income groups. investment agreement [IFC] convenio de inversion [CFI] investment bank [US]; merchant bank [UK] banco de inversiones Institution that accepts new issues of stocks from a corporation and attempts to sell them to the public at a profit In the US., they have a separate legal status from commercial banks. investment budget presupuesto de inversiones

117 investment review mission [ffiRD] mision de estudio de oportunidades de inversion

investment center [accounting] centro de inversion A responsibility unit whose performance is measured in terms of resources committed (capital invested) relative to monetary costs and returns.

investment tax credit credito impositivo por inversione5

investment commitment [IFC] compromiso de inversion [CFI]

investment trust see closed-end investment company, fund

investment company, fund compaiiia de inversiones; sociedad de inversiones; rondo de inversiones Company that uses its capital to invest in other companies. The two kinds are open-end investment company and closed-end investment company, the former being by far the most frequent. [see also closed end investment company, fund; open end investment company, fund]

invisible transactions operaciones, transacciones invisibles Exports and imports of services. Includes insurance, shipping charges aIld tourist expenditures. [see also surplus on invisibles]

investment gap deficit de inversiones investment goods bienes de inversion, de equipo, de capita] investment grant subveocion para inversion investment incentives incentivos para la inversion investment income ingresos por (concepto de) inversiones, derivados de inversiones investment insurance seguro de inversion [see also multilateral investment insurance] investment loan prestamo para proyecto de inversion investment portfolio cartera de inversiones (a largo plazo) Portfolio of longer-term investments. cr. trading portfolio. investment project proyecto de inversi6n investment return, yield rentabilidad, rendimiento de la inversi6n

invitation to bid, to tender lIamada a Iicitacion A notice issued under competitive bidding procedures calling on bidders to submit bids for contracts. invitation to prequalify [contracts] invitacion a la precalificacion A notice issued under competitive bidding procedures calling on bidders to prequalify prior to bidding on a contract. involuntary lending prestamos no voluntarios Lending by banks as long as the resulting reduction in probability of default, multiplied by the existing exposure, exceeds the amount of new money multiplied by the remaining probability of default even after the new assistance. involuntary resettlement reasentamiento involuntario Movement of peoples away from their normal place of abode against their will. inward-looking; inward-oriented [country; policy] orientado hacia el interior; aislacionist. irrevocable agreement to reimburse garantia irrevocable de reembolso An agreement given e.g. by the Bank to a commercial Bank that it will reimburse any part of a cofinancing loan on which a borrower defaults.

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

-J-

jeopardy clause; escape clause; break clause clausula de salvaguardia, de elusion, de escape A clause in a Eurocurrency agreement specifying that, if certain events curtail the lender's activity or the operation of the Euromarkets, other designated actions will come into effect. jeopardy loan prestamo con riesgo de posibles perdidas Term used by IFe to indicate that a loan has serious problems. IFe expects to make a loss (though not necessarily a 100% loss) on a jeopardy loan. jitney colectivo jobbing trabajo a destajo job description descripcion de cargo, puesto job order accounting contabilidad por ordenes de trabajo, por pedidos A cost accounting method which accumulates the costs of doing a separately identifiable job. 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

joint venture soeiedad en participacion; empresa, operacion conjunta jumbo borrowiog(s) (obtenci6n de) emprestitos gigantescos Borrowing or lending in large quantities; usually refers to amounts in excess of US $250,000. junior creditor acreedor no prioritario junior debt; subordinated debt deuda subordinada Debt which, in case of liquidation, cannot be paid till payments on other obligations have been made. Opposite of senior debt. junior high school escuela secundaria de primer cicio juridical personality; legal existence personalidad juridica justification documentos justificativos; documentacion de apoyo just in time (liT) manufacturing fabricacion "justo a tiempo" Production and inventory control systems designed to produce small lots and to produce the right items in the quantities needed by subsequent production processes at the right time.

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 trabajo; costos laborales labor force (uena de trauajo, laboral; mano de obra; a veces: poblacion activa labor force penetration; labor force participation rate tasa de actividad The extent to which those of working age are actually working. labor-intensive con gran intensidad de mano de obra; de uso intensivo de mano de obra; de alto coeficiente de mano de obra labor-intensive industry industria con gran intensidad de mano de obra labor-management relations; labor relations; industrial relations relaciones entre empleados y empleadores; relaciones obrero-patronales

lamplight fishing; fishing by lamplight pesca con luz (artificial), aI encandilado land betterment tax impuesto de valorizacion, sobre la plusvalia land consolidation concentracion parcelaria land development aprovechamiento, habilitacion, acondicionamiento de tierras; urbanizacion land equivalent, equivalency ratio - LER coeficiente de la tierra de cultivo equivalente Area needed under sole cropping to give as much produce as 1 hectare of intercropping or mixed cropping at the same management level, expressed as a ratio. landfill vertedero land improvement mejoramiento de tierras

labor market mercado de trabajo, laboral

landlocked country pais sin Iitoral, mediterraneo

labor relations; industrial relations; labormanagement relations relaciones entre empleados y empleadores; relaciones obrero-patronales

land reclamation bonificacion, recuperacion, saneamiento de tierras

labor shed zona de contratacion de mano de obra laboratory school see demonstration school lag; slippage retraso; demora; desfase A delayed climatic effect. lagged inflation inflacion desfasada

land reform re(orma de la tenencia de la tierra land register registro catastral; catastro land resilience capacidad de recuperacion de la tierra A measure of the ability of the land to withstand and recover from shock, i.e. a sudden impact such as drought, overgrazing, change in specified land use.

122 settlement asentamiento; colonizacion land tax contribudon, impuesto territorial land tenure rights derecho de tenencia de la tierra land tenure system regimen de tenencia de la tierra land use plan plan de utilizacion de tierras land use planning planificadon de tierras land use ratio coeficiente de utilizacion de tierras landed price precio aI desembarque The quoted or invoiced price of a commodity, including costs of loading, shipping and unloading at destination. lapse-of-time decision decision tacita por vencimiento de un plazo A decision which is deemed to be approved if no objection is received by a specific date. last in, first out - LIFO salida en orden inverso aI de adquisicion, fabricacion, etc. late bid oferta fuera de plazo, tardia Bid submitted after the deadline specified for bid submission. late maturing [crop] de maduracion tardia latrine see bucket latrine; cistern flush latrine; pit latrine; pour flush latrine; vault toilet; ventilated improved pit latrine

law of diminishing marginal utility ley de utilidad marginal decreciente Law which states that although total utility increases, the marginal utility received from consuming each additional unit of a commodity decreases. law of diminishing returns ley de rendimientos dec recientes laydays; laytime estadia The period of time agreed between the parties during which the owner shall make and keep the ship available for loading/discharging without payment additional to the freight. layout diseiio; pianos generales (de un proyecto); distribucion layout plan plan de distribucion laytime see laydays lead agency organismo director, principal lead bank; lead manager banco director Bank with main responsibility for arranging a bond issue or international Eurocredit. Lead manager is also used in the sense of agent bank. lead donor donante principal lead economist economista principal (de un departamento geogrifico) lead manager see lead bank lead time of a project periodo de gestacion de un proyecto

123 leading indicator indicador anticipado A statistic valued for predicting purposes because its movement is generally followed by a certain movement of the economy in general, e.g. building permits, average weekly work hours, unemployment claims and corporate profits. leads and lags adelantos y atrasos A term referring to changes in the pattern of international payments terms. At anyone time a country is extending and receiving trade credit via its exporters and imports. If a devaluation of its currency is feared, its importers with foreign currency obligations may hurry to pay, otherwise their debts will be greater after devaluation, i.e. they "lead" payments. Conversely, exporters will benefit by not hurrying to convert export receipts in foreign currency - they "lag" payments. leakage utilidades encubiertas In investment, benefits to selected parterns by means other than declared financial returns, such as distorted transfer pricing, non-arms length royalties or management fees and inflated equipment costs.

leaseback retroarriendo; retrocesion en arrendamiento leasing arrendamiento; arrendamiento financiero; a veces: leasing financiero least cost analysis anlilisis de costo minimo A type of analysis commonly used to compare alternative projects or project designs when value of output (benefits) cannot be measured adequately (e.g. certain transport projects). If it can be assumed that the (unquantifiable) benefits exceed the cost and if appropriate adjustments are made for any differences in benefits among the alternatives, the task is then to minimize the cost of obtaining them through least-cost analysis. least developed countries - LLDCs paises (en desarrollo) menos adelantados - PMA least squares method metodo de minimos cuadrados An econometric estimation technique involving minimizing the sum of the squares of the vertical distance between the observed data points and the regression line.

learning by doing aprender sobre la marcha; aprender con la practica A method of learning involving practical experience.

legal authority autorizacion legal; facultad legal

learning curve cUn'a de aprendizaje An imaginary graph which describes the rate at which people learn something new. Initially, they will normally pick up a lot of infonnation quickly but then will gradually take more time to learn less.

legal existence; juridical personality personalidad juridica

learning materials materiales didacticos learning rate tasa de asimilacion de conocimientos lease see finance lease; operating lease; true lease

legal entity, person persona juridica

legal force fuerza de ley legal instruments [agreements, etc.] instrumentos juridicos, legales legal opinion dictamen juridico; opinion juridica legal person, entity persona juridica

124 legal remedy recurso (legal) legal reserve reserva obligatoria; encaje legal legal status condicion juridica legal tender moneda de curso legal lender of last resort prestamista en ultima instancia One of the functions and a major raison d'etre of a modern central bank whereby the bank has to provide liquid assets to the banking system when the existing liquid assets of the banking system threaten to deplete. lending agency, institution organismo de credito, crediticio; institucion de credito, crediticia lending authority facultad para conceder prestamos The amount of money that the Bank can lend, based on its paid-in capital. lending commitment compromiso de prestamo lending limit limite de credito, de prestamos lending pipeline; pipeline of projects proyectos en tramitacion, en reserva Projects which have advanced beyond the stage of appraisal mission departure, i.e. which are expected to be in the forthcoming year's lending program. lending program programa de operaciones crediticias; programa de financiamiento lending rate tipo, tasa de interes sobre los prestamos; tipo, tasa activo(a)

lengthman [highway maintenance] peon caminero A man appointed to maintain a certain length of road. less developed country - LDC pais en desarrollo; pais menos desarrollado PMD less than carload freight - LCL trafico, mercancias de detalle A shipment that occupies less than a full railroad car, that may moved from car to car as economy of shipment dictates and on which higher rates than full carload lot rates apply. letter of acceptance carta de aceptacion Written notification by the employer to the contractor of acceptance of his bid. letter of comfort carta de seguridades A written instrument issued by A, where A agrees to make every effort to assure B's compliance with the terms of a contract, but without committing A to perform B's obligation in the event that B is unable to fulfil his obligation. Usually issued by a parent company on behalf of a subsidiary in another country. letter of credit (LIC) carta de credito Form of documentary credit whereby a bank promises to honor drafts payable to one party, drawn on it by another party. letter of development policy - LDP [ffiRD] carta de intenciones sobre la politica de desarrollo Letter from the Government of a country receiving a structural adjustment loan to the President of the Bank, setting out the Government's medium-term objectives for structural change and the range of measures that it intends to take over several years to achieve these objectives. letter of intent - LOI 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] consulta sobre posibles objeciones In some countries, a letter sent by the Government to a domestic company, asking that company if it has any objection to specific items being imported. The company may make an objection, thereby preventing the goods from being imported. letter of sectoral policy [IBRO] carta de intenciones sobre la politica sectorial Letter from the Government of a country receiving a sectoral adjustment loan to the President of the Bank, setting out the Government's medium-term objectives for sectoral change and the range of measures that it intends to take over several years to achieve these objectives. letter of understanding carta de entendimiento Levantcotton;hetbaceouscotton;AJnericanshort staple cotton; Arabian cotton algodon herbaceo leveling off nivelacion; estabilizacion level annuity system sistema de pagos totales iguales (de principal e intereses) The level annuity system entails equal aggregate payments of principal and interest (i.e. with principal repayments made in gradually ascending amounts). This system was used by the World Bank prior to 1975. level border irrigation see basin irrigation level repayment reembolso en cuotas iguales Repayment scheme where repayments are at a fixed level, even though the interest rate may change. leverage (ratio) [US]; gearing (ratio) [UK] nivel de endeudamiento relativo aI capital; relacion endeudamiento-capital propio; relacion pasivo-capital Ratio of debtlliabiIities to equity/assets. Includes debt and debt-equity ratios. [See also guarantee leverage]

leverage, to ejercer inOuencia; ejercer, producir efecto multiplicador [finanzas] [diferentes contextos pueden requerir distintas traducciones) [See also highly leveraged; underleveraged] leveraged buyout - LBO compra de una empresa con fondos tomados en prestamo Purchase of a company by a small group of investors, often including management, mostly with borrowed funds. The debt is usually repaid from the company's cash flow or from the sale of assets. levy gravamen (tributario) [see also betterment levy] liabilities pasivo; obJigaciones The credit half of a balance sheet. [see also accrued liabilities; contingent liability; currency liabilities; current liabilities; deposit liabilities; long-term liabiliaties; sight liabilities; sundry liabilities; tax liability; temporary liabilities; unfunded liabilities] liability management gestion de pasivos [see also asset and liability management1 LmOR [London interbank offered rate1 LmOR [tipo, tasa de orerta interbancaria de Londres1 The interest rate at which banks in London are prepared to lend funds to first-class banks. It is used to determine the interest rate payable on most Eurocredits. licensing agreement acuerdo, convenio de licencia, de concesion de Jicencia lien; charge [legal] gravamen; embargo preventivo; cargo life (of a project) duracion, vida atiI

126 life cycle cost evaluation evaluacion de los costos durante la vida litil (de equipos) Evaluation of equipment over its whole life, including initial purchase, maintenance and operation. life expectancy esperaoza de vida lifeline tariff tarifa minima, vital A special low tariff for a commodity (e.g. gas or electricity) made available to disadvantaged groups (e.g. poor or elderly) or to all consumers but only up to a certain amount. lifelong education; continuing education; recurrent education educacion permanente life of a loan vigencia de un prestamo light Arabian crude; Saudi Arabian light crude (petroleo) crudo liviano, Iigero de Arabia Saudita The world's most prolific crude oil, frequently used as a marker crude in establishing the prices of other crudes.

Sea, where the lenders had no recourse to BP if there was insufficient oil). line breeding cruzamiento continuo; cruzamiento absorbente Special form of inbreeding to maintain a high genetic relationship to a desirable ancestor. line department departamento ejecutivo, de ejecucion, de operaciones [see also line ministry] line-haul [transportation] transporte, acarreo entre term inales line item [budget] partida (presupuestaria) A specific revenue or expenditure separately detailed in a budget. line kilometer [surveying] kiJometro lineal A kilometer as measured by the line of flight of an aircraft. Used to measure the distance covered by an aircraft when taking remote sensing images. line management direccion; supervision

light gray cotton see gray cotton

line management position cargo ejecutivo, de direccion, de supervision

light industry industria ligera, liviana

line manager supervisor directo, inmediato

light spotted cotton algodon Iigeramente manchado

line ministry, department ministerio, departamento de operaciones, sectorial, de ejecucion A Government ministry responsible for implementing a program or group of programs as opposed to one responsible for general planning and administration, e.g. would include Agriculture, Social Security but exclude Finance, Planning.

limited international bidding - Lm Iicitacion internacional Iimitada International competitive bidding by direct invitation without open advertisement. limited liability company sociedad de responsabilidad Iimitada limited recourse finance financiamiento con recurso Iimitado Finance arranged on the basis of the lender having recourse to the borrower only in certain circumstances (e.g. the loan to British Petroleum (BP) to finance the Forties oil field in the North

line position cargo, puesto ejecutivo, de operaciones line staff persooal ejecutivo, de operaciones

127 linear programming programacion lineal A mathematical procedure to obtain an optimal answer to a series of equations that usually specify resources available; technological relationships of the production process; goals of the society; relevant constraints to any solution that is found. liner (shipping) conference conferencia maritima A combination of shipping companies or owners which sets common liner freight rates on a particular route and which regulates the provision of services. link see UHF link; VHF link linkage see backward-forward integration, linkage; backward integration, linkage liquefied natural gas - LNG gas naturallicuado - GNL liquefied petroleum gas - LPG gas de petroleo licuado - GPL liquid assets; quick assets activos Iiquidos, disponibles; disponibilidades Cash in banks and on hand and marketable securities. liquid assets portofolio; liquidity portfolio [IFC] cartera de aenvos Uquidos liquid ratio see acid test ratio liquidated damages clausulas penales; penalidades; multa; dafios y perjuicios previstos en un contrato A sum of damages agreed upon in advance between parties to a contract, to be paid by the party who breaches the contract, as opposed to unliquidated damages, which are not fixed in advance, and are liable to be overturned by the courts. liquidation value; forced sale value valor de venta formsa The price obtainable from an immediate sale, where the seller is under either legal or voluntary compulsion to sell.

liquidity management; liquidity portfolio management gestion de la Iiquidez liquidity portfolio [IFC]; liquid assets portfolio cartera de activos Ifquidos liquidity position situacion de Iiquidez liquidity ratio coeficiente de Iiquidez The ratio of the actual level of liquidity to projected three year net cash requirements. liquidity shortage insuficiencia de Iiquidez liquidity squeeze crisis de Iiquidez listing (of securities) cotizacion (de val ores en la bolsa) The process of public quotation on a Stock Exchange of a share or bond. literacy; literacy education alfabetizacion literacy level nivel de alfabetizacion live fencing setos,cercosvivos The use of live trees as boundary markers for the production of fruit, fodder or other products, instead of wooden fences. live storage, capacity capacidad util living area area, superficie habitable load see peak load load, base carga de base, fundamental load bearing capacity; traffic bearing capacity eapacidad de trafieo

128 load factor [electricity] factor de carga The ratio of the average load over a designated period of time to the peak load occurring in that period. [see also system load factor] load fund fonda mutuo que cobra comision Mutual fund which charges a handling fee.

loan portfolio cartera de prestamos The unpaid loans of a lending organization. loan pricing, costing fijacion, determinacion del costo de un prestamo Establishing the interest rate of a loan. loan processing tramitacion del (de un) prestamo

loan account cuenta del prestamo

loan proceeds see allocation of loan proceeds

loan agreement convenio de prestamo

loan recovery recuperacion de un prestamo, de prestamos

loan application solicitud de prestamo

local area network - LAN red de area local - LAN

loan assumption agreement convenio de asuncion de prestamo

local authority; local government administracion local; autoridades municipales, provinciales, etc.

loan capital capital en prestamo; emprestito loan commitment compromiso de prestamo

local competitive bidding - LeB see competitive bidding in accordance with local procedures local cost; onshore cost costo en moneda nacional

loan costing see loan pricing loan equivalency pricing fijacion de precios equivalentes en operaciones de cofinanciamiento Pricing procedure adopted in Bank cofinancing, whereby credit alternatives offered by the Bank, such as loans and guarantees, are all priced comparably and do not compete among themselves. loan investment inversion en forma de prestamo loan officer oficial del prestamo, de prestamos loan origination fee comision por tramitacion de solicitud The fee typically charged by a DFI to recover the cost of investigating and granting a request by a borrower for a loan.

local currency moneda nacional local employee [IBRD] funcionario, empleado contratado localmente local government; local authority administracion local; autoridades municipales, provinciales, etc. local shopping comparacion nacional de precios Procurement based on comparing price quotations obtained from several local suppliers. localization autoctonizacion Use of local staff.

129 localization economies econom(as de ubicacion Agglomeration economies which are external to a specific company but internal to a specific industIy. They commonly result from the increased demand for goods and services from specific industries. Increased demand leads to increased competition and efficiencies among firms intending to provide inputs to production. It also includes venical and horizontal integration of specific industries. where ancillary industries within the same area provide inputs or complementary services to other industries and firms. Cf. urbanization economies. locked in capital gains ganancias de capital realizadas

long staple cotton aJgodon de fibra larga Cotton with fibers of 1 1/8 inches long or more. long-term blended cost rate - LTB [IFC] coeficiente de costos combinados a largo plazo A rate used by IFC to assist in determining the performance of its loan ponfolio, it is based on three parts of average costs of borrowed funds and one pan capital resources. long-term debt ratio relacion de endeudamiento a largo plazo Ratio oflong-term debt to total assets.

locked in interest rate tipo, tasa de interes inmodificable

Long-term Facility for Financing Purchases of Capital Goods by Developing Countries [ffiRD] Servicio de financiamiento a largo plazo para la compra de bienes de capitaJ por los paises en desarrollo

locked-up capital capital inmovilizado Capital that is unavailable as it is committed to other uses.

long-term liabilities pasivos a largo plazo Liabilities that will become due in the future, usually more than one year.

lock gate price; sluice price; sluice gate price precio de compuerta A theoretical cif price used in calculating European Communities supplementary levies on impons of pork, poultIy and eggs.

long-term prime rate - LTPR tipo, tasa preferenciaJ a largo plazo Prime rate used in Japan.

logging [forestIy] corte y extraccion de madera en trozas; exp]otacion forestal; extraccion de madera long form audit repon . informe largo de auditoria A detailed repon or letter prepared by an auditor It is addressed to the following an audit. management or directors. long-run average incremental cost - LRAIC costo incremental medio a ]argo plazo long-run marginal cost - LRMC; efficiency price; efficient price [electricity tariffs] costo marginal a largo p]azo The cost of meeting an increase in consumption, sustained indefinitely into the future. when needed capacity adjustments are possible.

longitudinal survey encuesta longitudinaJ Surveys of limited populations in purposively selected areas, recording events as they actually occur (as opposed to making estimates). loss in weight; waste [commerce] perdida; desperdicio loss leader articulo de propaganda, de cebo, de reclamo loss of load probability - LOLP probabilidad de perdida de carga A measurement of the probability of power outages. loss payee beneficiario In insurance, a third party suffering the actual loss named as beneficiary of the policy.

130 loss provision; provision for losses; reserve for losses reserva para perdidas low absorber [country] pais de baja capacidad de absorcion Oil exporting capital surplus country that has been able to make very limited use of oil revenues for domestic development. Includes Saudi Arabia and Kuwait. lower heating value; net heating value - NHV; net calorific value - NCV poder calorifico neto - peN lower middle income country - LMIC pais de ingreso mediano bajo Developing country with a per capita income in 1980 exceeding $600 but below $1200. Include some Latin American countries, some South-East Asian ones (such as Philippines and Thailand), Mediterranean countries (such as Morocco and Tunisia) and some sub-Saharan African countries (such as Cote d'Ivoire and Nigeria). lower quality old debt deudas anteriores con condiciones menos favorables lower secondary education educacion secundaria de primer cicio, de cicio baisico lowest bidder licitante que presenta la oferta mas baja [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.

low income country pais de ingreso bajo low load factor consumer [electricity] consumidor de bajo factor de carga A consumer using a low amount of electricity. low standard road camino, carretera de normas reducidas, bajas low voltage consumer [electricity] consumidor de bajo voltaje lump sum borrowing [IFC] emprestito de suma global A currency-specific borrowing made in a lump sum by IFC from IBRD for its short-term future needs. lump sum contract [consultants] contrato a suma alzada Contract where payments are based on an agreed lump sum with no matching of inputs to payment being made once the figure has been agreed. lump sum loan prestamo de suma global One of two types of fixed rate loan made by the Bank to IFC involving currency-specific lump sum amounts to meet net cash requirements for the following six to twelve months. lump sum price tanto a1zado; monto global; suma alzada; precio global

131 manageable controlable; manejable; gobemable; etc.

-Mmacro-level accountability responsabilidad macroeconomica Macroeconomic accountability (including financial accountability and accountability for overall economic performance), e.g. congruence between public policy and actual implementation, the efficient allocation and use of public resources and external auditing and follow-up to this auditing.

managed costs gastos generales directos Discretionary and direct overhead expenses for which budget units are responsible. managed economy economia dirigida

mainframe computer gran computadora; gran ordenador [Espana]

management see asset and liability management; cash management; collegial management; comanagement; corporate management; country assistance management; demand management; economic management; IDA management fee; labor-management relations; liability management; line management; liquidity management; participative management; project management; range management; risk management; supply management; water management; watershed management

main power grid [electricity] red principal

Management [World Bank] la administracion

mainstream, to incorporar a las actividades habituales (del Banco)

management accounting contabilidad de gestion The design, installation and operation of financial planning, budgeting and financial accounting systems with the use of appropriate methods and techniques to monitor and control all aspects of financial operations and the coordination of these systems, methods and techniques with the primary activities of an entity.

Enacromanagement macrogestion main contractor; prime, principal contractor contratista principal, primario

maintenance of value - MOV (of mRD capital) mantenimiento del valor The provision in the Bank's Articles of Agreement requiring members to maintain the value of that portion of their paid-in capital that is subscribed in their own currency in terms of the subscription price (i.e. 100,000 gold dollars). maintenance of value settlement; settlement of maintenance of value liquidacion por concepto de mantenimiento del valor Enajor currency moneda importante malnourished malnutrido malnutrition malnutricion

management audit evaluacion administrativa A review and appraisal of any or all parts of management activity. management auditor inspector administrativo management by objectives - MBO gestion, administracion por objetivos management chart; performance chart; working table diagrama, grifico de situacion

132 ntiDagementcompany compailia administradora, de administracion, de gestion management consultant consultor en direccion de empresas, en administracion de empresas management contract contrato de administracion, gestion Contract where the contractor assumes responsibility for the management of the investment project or a significant part of its operations and where his remuneration substantially depends on the production, revenues or profits of the investment project. management development perfeccionamiento del personal directivo; perfeccionamiento de la funcion de gestion

management succession planning plan de sucesion para cargos de direccion managerial accounting contabilidad gerencial That portion of accounting which attempts to supply management with quantitative information as a basis for decisions, as opposed to management accounting which is accounting designed for or adapted to the needs of information and control at the various administrative levels of an organization. managers administradorcs; gerentes; directivos; etc. managing group consorcio, grupo de direccion, directivo managing unit unidad directiva

management fee comision de administracion; comision de gestion Fee payable to lead bank for handling bonds.

mandatory planning planificacion obligatoria, preceptiva

management game juego de gestion

man-day dia-hombre

management group; managing group consorcio, grupo de direccion, directivo

man-made capital capital creado por el hombre

management information system - MIS sistema de informacion para la administracion System, usually computerized, designed to provide the management of a particular organization with the key information needed for decision-making.

man-made disaster desastre provocado por el hombre

ntiDagement letter [auditing] carta a la administraci6n A formal letter from auditors to the management concerning the accounts. It will discuss any deficiencies or weaknesses which the entity should remedy for its own protection. management participation system; codetermination; comanagement cogestion; coadministracion; sistema de participacion en la gestion; administracion System which gives employees the right to be represented in the decisions of a corporation.

man-month contract contrato por meses-hombre Contract where payment is based on agreed timebased rates (usually the man-month rate), subsistence allowance for staff and reimbursable items. manpower development perfeccionamiento, formacion de recunos humanos, de la manu de obra manpower planning planificacion de recunos humanos, de la manu de obra manufacturing grade [meat] calidad para elaboracion

133 Manufacturing Unit Value Index [World Bank] indiee del valor unitario de las manufacturas • VUM Industrial countries' indices of US dollar unit values of manufactured exports to developing countries. There are two indices • the cif index which combines a 9()01o weight of FOB export prices with a 10% weight of transport costs and a FOB index. mapping see school mapping marginal benefit benefieio marginal marginal capacity cost - MCC costo marginal de mantenimiento de la eapacidad Present worth of the least-cost investment stream divided by present worth of the stream of incremental output resulting from the investment. marginal cost eosto marginal [see also long-run marginal cost] marginal cost pricing rljacion de precios aI costo marginal A policy used to minimize selling price or to lower costs to keep a business operating during a period of poor sales, by which the firm charges for each unit sold only the addition to total costs which results from manufacturing that unit, usually just material and direct labor. marginal disutility desutilidad marginal The extra disutility resulting from a small change in some variable. marginal effective tax rate - METR tasa impositiva efectiva marginal A measurement of the effect of taxes on investors' rate of return for an incremental addition to their activities.

marginal efficiency of capital eficiencia, productividad marginal del capital In popular terms, the expected rate of profit. More rigourously, it is a discount rate at which the perpetual annual yields of an asset are expressed in present value terms. The present value is obtained such that it is equal to the replacement cost of the asset or its supply price. For example if the supply or replacement cost of an asset is $ 80 and it yields a perpetual annuity of $5 then the present value of the perpetual annuity is equal to $80 if the rate of discount applied is .0625 or 6.25%. This 6.25% is the marginal efficiency of capital. marginal national savings rate tasa marginal de ahorro nadonal marginal propensity (to consume, to save, etc.) propension marginal (a1 con sumo, aI ahorro, etc,) An induced increase (in consumption or saving) as a proportion of the increase in income. If income increases by $10 and consumption or saving by $5 then the marginal propensity is 0.5. marginal physical product - MPP produeto fisico marginal The change in total product that results from employing one additional unit of a variable resource together with other fixed resources. marginal reserve requirement encaje legal adicional; reserva obligatoria marginal Additional deposits that by law depositoI)' institutions (e.g. banks) must set aside in their vaults or with the central bank. In the U.S., this applies to additional reserve requirementc on increased managed liabilities imposed by the Federal Reserve, in order to curtail the expansion of bank lending. marginal revenue product - MRP 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 utilidad marginal The utility derived by an individual from his consumption of an additional unit of a commodity or service at a given time. It may also be regarded as the utility of a unit of the commodity or service the consumption of which an individual may decide to forego. marginal value product valor del producto marginal margin of preference; preference, preferential margin preferencia; margen de preferencia [see also domestic preference] marker crude; benchmark crude [oil] crudo de refereneia Saudi Arabian light crude oil (gravity API 34 degrees) employed as the standard on which OPEC price changes have been based. marker price; benchmark price [oil] precio de referencia The reference price used by OPEC for oil price changes, based on the price of Saudi Arabiao light crude oil. market-clearing prices precios de equilibrio del mereado A price for an item which attracts just enough buyers as there are buyers. If prices are lower demand will be too high; if higher demand will be too low.

"market-in-hand" agreement eontrato "mereado en muo" Turnkey contract requiring contractor to assist in sales. market intermediation intermediacion del mereado Acting on the market (i.e. buying and/or selling of securities) on behalf of someone else. market power influencia en el mercado market-related lending financiamiento eo condiciones de mereado Lending at market rate and under market conditions (Cf. eommereiallending). market timing distribucion optima de los vencimientos Taking advantage of securities of different maturities. market value valor comereial, de mereado marketable securities valores negociables Equity securities or debt securities that are actively traded or which can be otherwise bought or sold. marketability posibilidad de comereializacion, de eolocacion; comereiabilidad

market-clearing quotations eotizaciones de precios de equilibrio del mereado

marketing eomereializacion [productos); colocacion [valores)

market-clearing returns rentabilidad de equilibrio del mereado

marketing arrangement acuerdo de eomereializacion

market-eligible countries paises que tienen aeceso aI mereado finaoeiero Countries that have access to financial markets.

marketing board junta de eomereializacion

market -friendly en armonia coo, que armoniee con el mereado; de conformidad coo las leyes del mercado

mark-up margen de utilidad; aumento de precio marshal evidence, to [ICSID] presentar y ofrecer pruebas

135 marshalling yard patio de maniobra, de c1asificacion

maturation (of borrowers from IDA to IBRD loans) maduracion

mass media medios de informacion, difusion, comunicacion

mass production produccion en gran escala, en serie master plan plan maestro Master Loan Agreement convenio de prestamo entre el Banco y la eFI Agreement between the Bank and IFe on Bank lending to IFe. First issued 1971 and periodically updated as the Bank makes further loans to IFe. matched funding [IFC]; matching funds financiamiento, fondos de contrapartida Funding needed by the IFe to commit a loan. It must match the loan in terms of amount and maturity. matching contribution contribucion de contrapartida A contribution that is conditional on a similar amount of funds being contributed by another party. matching credit credito de contrapartida [see also tax sparing]

mature investments [IFC] inversiones que han alcanzado su madurez, su fase productiva Investments which are just at the beginning of the stage at which they will start to become profitable. mature markets [securities] mercados bien establecidos mature project proyecto en avanzado estado de ejecucion, proximo a termioarse maturity (of a loan, bond, etc.) vencimiento (de un prestamo, obligacion, etc.); plazo de vencimiento maturity mismatch discordancia entre los vencimientos Having borrowings and loans with different maturities. This could mean, for example in the case of the Bank. that borrowings the Bank had made on the capital market to finance certain loans it had made were due before it had received the money from the loans. maturity transformation modificacion de los vencimientos Reborrowing, in order to extend the maturity of a loan.

matching funds see matched funding matching grant donacion de cootrapartida A grant given when an equal sum is provided by the recipient or a third party. matching payment pago de contrapartida 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.

maximum aggregate liability [MIGA] responsabilidad global maxima The maximum liability of MIGA for all claims arising from coverage for one project enterprise. maximum amount of guarantee monto mliximo de garantia The maximum amount of guarantee coverage provided under all forms of coverage.

136 maximum likelihood method metodo de mhima verosimilitud An econometric estimation technique which involves the maximization of the likelihood function of the sample observations with respect to the values of the parameters of the equation(s) being estimated. It chooses those values of the parameters which are "most likely" to have generated the sample observations. McNamara Fellow becario McNamara McNamara Fellowship beca McNamara mean annual increment - MAl [forestry] incremento anual medio The total growth of a stand of trees divided by the total age. means-tested pension plan plan de pensiones seglin, conforme a las necesidades, con comprobacion previa de medios de vida measured production produccion medida, efectiva The actual production of a farmer as measured, as opposed to the estimated production. meat processing elaboracion de carne mechanical completion [projects] termination de las instalaciones The final stage of a project where the actual physical equipment has been installed. medium absorber [oil exporter] pais de mediana capacidad de absorcion Oil exporting capital surplus country which has only been able to make some use of oil revenues for domestic development. Includes Iran, Iraq and Libya.

membership application solieitud de ingreso membership shares [World Bank] acciones de adhesion These were introduced in connection with the 1979 General Capital Increase in order to ensure that the voting power of small members was not eroded by the Capital Increase. A special allocation of 250 shares, known as membership shares, was made to each member in addition to the pro rata allocation. No payment was required for these shares nor were they included in the Bank's lending authority. membership votes votos de adhesion memo item; memorandum entry, item partida de memorando; partida pro memoria An explanatory notation in a book of accounts which does not change the balance in any account. memorandum account cuenta de orden A temporary account used to store accounting data prior to actual receipt or disbursement of the sums concerned. memorandum entry, item; memo item partida de memorando; partida pro memoria; partida informativa An explanatory notation in a book of accounts which does not change the balance in any account. Memorandum of Administrative Arrangements [ICSID] Memorando sobre Arreglos Administrativos memorandum of law memorando juridico; dictamen legal A legal opinion signed by a legal officer of a government authorized to give legal opinions on his Government's behalf.

medium staple cotton algodon de fibra mediana Cotton with fibers of 1 to 1 1/8 inches long.

memorandum of understanding memorando de acuerdo A written document detailing the points upon which two or more parties agree.

membership [IFC] calidad de miembro; a veces: ingreso; miembros

memorial [ICSID] memorial

137 menu approach metodo de la lista de opciones merchandise balance see trade balance merchandising comercializacion; ventas merchant bank [UK] see investment bank [US] merger fusion merit goods bienes preferentes, deseables; bienes de interes social Goods the consumption of which is deemed to be intrinsically desirable. In the case of such goods it is argued that consumer sovereignty does not hold and that if consumers are unwilling to purchase adequate quantities of such goods they should be compelled or encouraged to do so. Examples are education and health services.

mezzanine financing financiamiento "mezzanine" Financing using medium-risk capital, as opposed to pure debt financing. The risk is intermediate between secured or senior debt and equity. It differs from venture capital lending in that owners surrender only a low amount of equity. MlBOR [= Madrid Interbank Offered Rate1 MIBOR (tipo, tasa de oferta interbancaria de Madrid) microdata microdatos; datos detallados micro-level accountability responsabilidad microeconomica Microeconomic accountability, e.g. ensuring efficiency in investment and in the production and delivery of goods and services. micromanagement microgestion

merit increase aumento por merito

micro-sprayer irrigation riego por microaspersion

merit point system sistema de puntos In procurement, a system whereby points are given to each bid in respect to a number of factors. These points are then correlated with the bid price and the contract awarded on the basis of the best points/price combination.

microteaching microensenanza Scaled-down version of teaching, planned to develop new teaching skills and analyse existing ones. The technique provides teaching practice in a situation in which the complexities of the classroom are minimized by restricting the number of pupils and length of lesson and by focusing on specific teaching skills.

message front -end system sistema multiple de mensajes financieros messages [agricultural extension] contenido tecnico The basic information that an agricultural extension scheme wishes to impart to farmers. metal works estructuras metaIicas Metals and Minerals Price Index [ffiRD] indice de precios de los metales y minerales meter rent [electricity] cargo por medidor, por contador The income received from electricity metering.

middle income country pais de ingreso mediano Developing country with per capita income of $400 or more. midterm project review mission [World Bank] mision de supervision general del proyecto a mediados del periodo de ejecucion Midterm Review - MTR [IDA] examen de mediados del periodo (de una reposicion) Review of IDA resources in the middle of a replenishment period.

138 midyear review exameo de mitad del ejercicio, de mitad de aDo

misallocation of resources asignacioo desacertada de los recursos

milling yield rendimiento en la fabricacion, la molienda, el maquioado

misprocurement [ffiRD] adquisicioo no conforme coo los procedimieotos reglameotarios Procurement not in accordance with agreed procedures.

millions of barrels per day oil equivalent - mbdoe millones de barriles diarios de equivalente en petroleo - mbdep minehead price valor en boca de mina The price of a mineral as it comes out of the mine, i.e. excluding transportation aod processing. mineral lick; salt lick salegar mine run coal; run-of-mine coal carbOn sio cluificar, tal como sale, en bruto Ungraded coal of various sizes as it comes from the mine. minimum cash ratio encaje legal; coeficiente mfnimo de encaje minimum cash requirement (porcentaje de) reserva minima obligatoria; encaje legal minimum package project proyecto de contenido minimo minimum tillage labranza minima Plaoting crops through a sod of dead weeds or stubble. minority threshold [ffiRD] umbral de veto de una minoria Situation whereby a minority has ao effective veto because a certain majority is required to effect a change aod the minority holds enough votes to prevent this majority being obtained, e.g. in the World Bank. the US could block changes requiring 80% majority when it had a 20% shareholding. misalignment (of rates of exchange) desajuste, divergencia eotre tipos de cambio

mission see appraisal mission; audit mission; composite mission; end-of-mission document; external review mission; field mission; full mission; investment review mission; midterm project review mission; post appraisal mission; preappraisal mission; review mission; supervision mission mission statement [EDI] declaracioo de objetivos mitigation plao; environmental maoagement plao; action plao plao preveotivo; plao de ordenaci6n ambiental Part of a formal project environmental assessment, this plao outlines feasible aod cost-effective measures which may reduce potentially significant adverse environmental impacts to acceptable levels. It should provide details of proposed work programs aod schedules to ensure that the proposed environmental actions are in phase with engineering activities throughout preparation. The Bank uses all three terms. mixed enterprise empresa mina mixed farming project proyecto agropecuario; a veces: proyecto de cultivos multiples mixed fertilizer see compound fertilizer mixed financing; blend financing fioaociamieoto combinado (del BIRF y la AIF) mixed forest bosque mino Type of temperate forest, consisting of trees of different species.

139 mixed-use forest bosque de usos multiples Forest which has uses production.

Policy of reducing restrictions on the availability of money, e.g. by easing credit restrictions. other than

timber

mobile training unit unidad movil de formacion, de capacitacion mobilization advance [contracts} anticipo para movilizacion Advance payment to a contractor to enable him to start work. mobilization costs costos de movilizacion In a construction project, the initial costs needed to get a project under way, including advance payments, bonds, etc.

monetary expansion expansion moneta ria; expansion de la masa monetaria monetary restraint austeridad monetaria Holding down the rate of growth of the money supply. monetary stringency constriccion moneta ria monetization monetizacion monetized GOP

mobilization ratio [IFC] coeficiente de movilizacion Ratio of project cost net of IFC financing to IFC financing. model bid documents modelos de documentos de Iicitacion model school see demonstration school modified Bruno ratio; internal exchange rate coeficiente modificado de Bruno; tipo de cambio interno As for the Bruno ratio but using for the entire project life instead offor just one year. moisture stress estres por falta de bumedad monetary aggregates agregados monetarios The main indicators of the monetary status. Include such features as monetary base and money supply. monetary correction correccion monetaria Macroeconomic changes to the money supply, e.g. by adjusting interest rates or altering the amount of money in circulation. monetary ease relajacion monetaria; flexibilidad monetaria

pm monetizado money at call see call money money center banks bancos establecidos en las principales plazas financieras Bank based in a large financial center (e.g. New York or London). money income ingreso monetario money-losing operation operacion deficitaria money market mercado monetario, de dinero The market for short-term debt instruments, such as certificates of deposit, commercial paper, bankers' acceptances, Treasury bills, discount notes and others. These instruments are all liquid and tend to be safe. [see note to capital market, financial market]. money market (mutual) fund - MMF; mutual fund fondo comon de inversiones; fondo mutuo A mutual fund specializing in high yield shortterm instruments of credit such as Treasury Bills, certificates of deposit, commercial paper, bankers' acceptances and repurchase agreements. For the difference between FCP and SICAV, see mutual fund.

140 money market paper titulos, valores dd mereado monetario

mortgage bank banco bipotecario

money market rate tasa del mereado monetario; tasa de los fondos comunes de inversiones The rate of interest in the money market. In the U.S., there is no single rate but a series of rates, including the prime rate, the Federal Reserve discount rate, the Federal Funds rate, the 1 month commereial paper rate and the 3 and 6 month Treasury Bill rate.

mortgage financing prestamos, creditos bipoteearios

money stock. supply oferta monetaria; medio cireulante money wage salario monetario, nominal moneyness liquidez Closeness to being money; ease with which an asset can be spent; liquidity. monitoring observacion; verificacion; seguimiento; vigilancia; supervision monitoring and evaluation - M & E seguimiento y evaluacion monoculture; sole cropping monocultivo monocyclic management ordenacion monocfclica Forest management sYstem whicb provides for the removal of all merchantable trees down to a specific diameter at breast height in a single operation, followed by a poison - girdling of remammg large noncommercial stems. Silvicultural treatment is continued at intervals to promote the growth of desirable species. monopoly rent renta de monopolio moral hazard riesgo moral Irresponsible conduct by the insured which is likely to increase the possibility of loss.

most-favored-nation clause clliumla de la nadon mas favorecida A clause in an international trade agreement which states that contracting parties to an agreement are bound to grant to each other treatment as favorable as they extend to any other country regarding the application of import and export duties and other trade regulations. First put forward at Geneva Trade Conference, 1947 and became a part of GAIT regulations. most immediately impacted (MIl) countries paises inmediatamente afeetados most seriously affected countries - MSA paises mas gravemente afectados mother and child health (MCH) center centro de salud maternoinfantil motivator [family planning] promotor motor octane number - MON indice de octano; octanaje A measurement of the octane quality of gasoline relating to part throttle operation. mountain forest bosque de altura mountain rice; upland rice; highland rice arroz de montana, de tierras a1tas, de secano moving average see running average multiattribute decision analysis tecnica de aniJisis de deeisiones tomando en cuenta multiples atributos Technique of decision analysis which allows tradeoffs between objectives to be analysed. multicropping; multiple cropping cultivos multiples

141 multiplier see credit multiplier

multicurrency clause [loan contract] chiusula de, sobre multiples monedas A clause in a loan agreement stating that more than one currency may be used in paying or redeeming the loan.

multiproduct agency credit line [IFC] linea de credito para productos multiples a traves de agentes

multidwelling houses viviendas multifamiliares

multipurpose berth puesto de atraque de fines multiples

Multifibre Arrangement Acuerdo Multifibras

multipurpose project proyecto de fines multiples

multigrade teaching enseoanza simultanea de varios grados Teaching where more than one grade is taught in the same class due to shortage of teachers and/or low amount of pupils.

multi sectoral general equilibrium model modelo multisectorial de equilibrio general A computable general equilibrium model which covers several sectors.

multilateral investment insurance seguro multilateral de inversiones multilateral trade negotiations - MIN negodaciones comerciales multilaterales

multishift teaching enseoanza en multiples tumos, jomadas multistory farming; multilevel farming cultivos minos silvoagropecuarios Intercropping trees, shrubs and crops of various heights for total ground cover.

multilevel farming see multistory farming multimedia training modules [EDI] modulos audiovisuales de capacitacion multimodai transport transporte multimodal multiple cropping; multicropping cultivos multiples Growing two or more crops in the same year on the same field. (multiple) (currency) option bond bono con opcion de cambio de divisas Bond (usually Eurobond) which gives the lender the right to opt to receive interest and/or capital in a currency other than that in which the bond is denominated. multiple stage tax impuesto por etapas, en cascada 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

multivariate technique tecnica de variables multiples A technique of analysis (normally of a statistical nature) which involves more than two variables. multiyear rescheduling arrangement; multiyear restructuring agreement - MYRA acuerdo de reprogramacion multianual de la deuda Agreement in commercial bank negotiations which allowed for restructuring over a period of years rather than annually, to reduce the burden imposed by annual restructurings. mutual fund; money market (mutual) fund fondo comun de inversiones; fondo mutuo mutually offsetting entries partidas que se compensan mutuamente In accounts, two entries which cancel each other out.

142 due and commence outstanding.

reducing the principal

-N -

narrow money dinero en el sentido estricto Easily available money, i.e. cash, checking accounts, very short-tenn liquid funds, etc. Equivalent toM!. national agricultural research system - NARS sistema nacional de investigaciones agronomicas national environmental action plan - NEAP plan nacional de proteccion ambiental - PNPA Environmental action plan at the level of an individual country. They are intended to ensure that decision-makers take environmental issues into consideration in policy fonnulation and are closely linked to World Bank projects. natural capital capital natural The natural environment. Includes watercourses, the oceans, the air, etc.

land,

natural gas liquids - NGL Iiquidos de gas natural near cash instruments instrumentos cuasimonetarios Instrument that can be converted to cash in a very short time. near money; quasi-money cuasidinero Assets which have properties resembling those of money in the strict sense. Includes savings deposits, time deposits, certificates of deposits, deposits in thrift institutions, etc. negative amortization loan prestamo de amortizacion negativa Installment loan having the annuity principal as a basis for computation, whose fixed periodic payments increase from time to time, e.g. annually, bi-annually. Iuitial installments typically are insufficient to meet the interest accruing on the loan principal and unpaid balances of interest are added to the principal outstanding. As the periodic installments increase in value they become sufficient to meet the interest

negative pledge clause chiusula de obligacion negativa, de abstencion Clause in loan agreement obligating the borrower not to grant security without equally securing the loan in question. negative rate of interest tipo de interes negativo; tasa de interes negativa negative sum game juego de suma negativa net beneficial product producto util neto net benefit investment ratio relacion beneficio neto-inversion The ratio between the present worth of net benefits and the present worth of an investment; alternatively, the sum of present worths after the incremental net benefit stream has become positive, divided by the sum of present worths in the earlier years of the project. net book value; current equity investment; net investment valor contable neto; inversion en capital social corrientej inversion neta The contribution value plus covered retained earnings, less remitted earnings, less depreciation of assets or other commercial losses. Used by some countries as a basis for computing the amount of compensation. net calorific value - NCV; lower heating value; net heating value - NHV poder calorifico neto - peN Total amount of heat produced by combustion less the latent heat of evaporation of any water present in fuel before combustion. net cash requirements - NCR necesidades netas de efectivo Gross disbursements plus outstanding debts due to mature, less repayments and sales of loans, less net income adjusted for non-cash items, less the increase in usable capital.

143 net discounted value valor neto actualizado net energy ratio - NER relacion de energia neta - REN Ratio between delivered net energy demand and

GOP. net factor service income ingreso neto por servicios de los factores Net income derived directly from the provision of • services. net heating value - NHV; net calorific value NCV; lower heating value poder calorifico neto - peN Total amount of heat produced by combustion less the latent heat of evaporation of any water present in fuel before combustion. net income ingresos netos [BIRF); utilidades netas [sociedades] Revenues less operatIng costs. net interest margin on average earning assets margen neto de interes sobre el promedio de activos productivos Average interest return on loans and investments less average rate of debt interest expenses. Return on investments includes realized capital gains and losses. net investment see net book value net material product - NMP producto material neto - PMN The total amount of material goods and services associated with production supplied by the national economy. Used in the national accounting of the socialist countries. net of taxes deducidos los impuestos net out expresar en cifras netas; obtener cifras netas net present value in efficiency prices - ENVP valor actual neto a precios econ6micos The present value of net benefits measured in efficiency prices.

net present worth, value - NPW, NPV valor neto actual, actualizado The net value or net benefit of a project when all costs have been discounted to the present at the accounting rate of interest. May be positive or negative but for project to be acceptable must be either zero or positive. [see also social net present value] net profits interest [oil] participacion en las ganancias, utilidades net as A share of gross production from a property, measured by net profits from operation of the property. It is carved out of the working interest. net realizable value see current exit value net register tonnage - NRT tonelaje de registro neto The gross register tonnage of a ship (calculated on cubic capacity at 100 cu ft per ton) less engine room, navigation, light, air, locker room spaces, etc. It represents the actual carrying capacity of the ship. net reproduction rate - NRR tasa de reproduccion neta - TRN Number of daughters a newborn girl is projected to bear during her lifetime, assuming fixed agespecific fertility rates and a fixed set of mortality rates. net unrealized gain ganancia neta no realizada The difference between unrealized gain and specific reserves in the equity portfolio. net worth [individuals, private corporations] patrimonio neto The excess of all assets over liabilities. In a company this represents the net interests of the owners, i.e. stockholders' equity. net worth see stockholders' equity [corporations] netback value [energy] valor residual neto; ganancia neta Value of oil or gas taking the price paid downstream for the product less the transportation and other costs incurred between the wellbead and the downstream place of sale.

144 network analysis anaHsis de redes network diagram diagrama de red(es) newly agro-industrialized economy - NAE pais de desarrollo agroindustrial reciente newly industrialized country - NIC pais recientemente industrializado Used in OECD classifications, this refers to those countries at a relatively advanced level of economic development with a substantial and dynamic industrial sector and with close links to the international trade, finance and investment system (Argentina, Brazil, Greece, Hong Kong, Korea, Mexico, Portugal, Singapore, Spain, Taiwan and Yugoslavia). newly industrializing country - NIC pais de reciente industrializacion, en vias de industrializacion A general term, often used synonymously with newly industrialized country, used by the Bank but not as one of their official classifications. new money packages cantidades de dinero nuevo "new style" project [IBRD] proyecto de "nuevo estilo" Project geared less toward large infrastructure construction (often carried out almost entirely by foreign contractors) and more toward smaller efforts using local staff, emphasizing appropriate technology and low-cost design, using and/or strengthening local institutions, having a built-in monitoring and evaluation system and paying attention to cost recovery from beneficiaries. next-in-line manager supervisor inmediato niche market mercado especializado, para productos especificos night soil excretas; abono de cloaca, de letrina

NIMBY (not-in-my-backyard) "ecologia, si; en mi barrio, no"; "si, muy bien, pero no en mi barrio" The idea that people favor, e.g. waste disposal sites, anywhere but in their immediate environment. nitrogen, nitrogenous fertilizer fertilizante nitrogenado nitrogen oxides (NOx) oxidos de nitrogeno Compounds which affect the human respiratory system and plant growth. In combination with SOx, one of the causes of acid rain. nitrous oxide oxido nitroso A greenhouse gas. no load fund fondo de inversion que no cobra comision Money market fund that does not charge a fixed fee commission to investors. nominal effective exchange rate tipo de cambio efectivo nominal An effective exchange rate which is not adjusted for relative inflation differentials. nominal price precio nominal, simbOlico nominal protection coefficient - NPC coeficiente de proteccion nominal A coefficient that takes into account tariffs, quotas and nontariff barriers that protect farmers as well as the impact of export taxes or restrictions that penalize farmers and the over- or undervaluation of the exchange rate, when determining the incentives or disincentives farmers face in different countries. nominal service servicio minimo nominated subcontractor subcontratista propuesto Subcontractor approved by the employer or engineer.

145 nomination propuesta de candidatura

Bond or other instrument that cannot be recalled or redeemed prior to maturity.

nonaccelerating-wages rate of unemployment -

noncash expenses gastos, costos no monetarios Depreciation and amortization for the year and other expenses appearing in an income statement which are not subject to cash drawn down, and which should be added to net income in preparing a sources and applications of funds statement.

NAWRU tasa de desempleo que no modifica el nivel salarial The level of unemployment at which wage growth might be kept stable. nonaccrual rate [World Bank] porcentaje de prestamos excluidos del regimen de contabilidad en valores devengados Percentage of loans in nonaccrual status. nonaccrual status exclusion del regimen de contabilidad en valores devengados When a borrower is placed in nonaccrual status, accrued interest is eliminated from the financial statement receivable balances and interest income is correspondingly reduced. During the time the borrower remains in nonaccrual status, interest income is reflected in the financial statement only to the extent actually received in cash. Placing a borrower in nonaccrual status in no way affects the interest payment obligations to the borrower; interest continues to be billed on the original terms of the loan. nonaccrual trigger point, date periodo previo a la exclusion del regimen de contabilidad en valores devengados Period, usually six months, before a loan or credit is put into nonaccrual status. nonaccruing loan see nonperforming loan nonactive borrower see inactive borrower nonassociated gas gas no asociado Free gas not in contact with crude oil in the reservoir. nonbulk traffic trans porte de productos empacados Carriage of small items, not in bu1k form. noncallable [bond] no rescatable, no redimible antes del vencimiento

noncash input insumo no moneta rio Agricultural input not in the form of cash. noncash item partida de transaccion no monetaria noncash working capital capital de trabajo, de explotacion no disponible inmediatamente Working capital not in cash form, i.e. receivables and inventories. nonconcessional, nonconcessionary flows movimientos, flujos de callital cn condidOl"'~s no concesionarias noncore project proyecto no basico Opposite of a core project, i.e. a project not in one of the key designated by the Government. non-18% currency moneda distinta del monto del 18% Protected 18% currency recovered by the Bank under the accelerated recall procedure and exchanged for an equivalent amount of currency freely convertible and usable by the Bank. nonequity direct investment inversion directa distinta de las contribuciones al capital social Any of the following forms of investment which have terms of at least three years and the other characteristics individually specified. Investments such as: production-sharing contracts, profitsharing contracts, management contracts, franchising agreements, licensing agreements, turnkey contracts, operating leasing agreements and subordinated debentures.

146 nonexcludable, nonexcludible goods bienes no exclusivos, no excluyentes A good is said to be non-excludable if its provision to anyone person automatically makes it available to others. nonexpendable equipment material no fungible Used in UNDP to cover all items for which inventory records are maintained at Agency HQ, Le. valued at more than $100 with a normal life expectancy of more than 5 years. nonfactor services - n.h. senicios no atribuibles a facto res In balance of payments, all services except for interest payments and other income from capital and wages, salaries and other income from labor. non-food agricultural commodity producto basico agricola no alimentario Non-Food Agricultural Price Index [ffiRD] Indice de precios de los productos agricolas no alimentarios nonformal education edueacion no formal Education taking place outside of schools, colleges and universities and aiming to develop knowledge, skills and attitudes that are not normally given prominence in formal educational institutions. nonfuel minerals minerales no combustibles nongovernmental organization - NGO organizacion no gubemamental - ONG noninterest bearing note pagan! sin intereses noninterest current account deficit deficit en cuenta corriente (excluidos los ingresos por coneepto de intereses)

Services that do not have a commercial aim. Usually used for the services provided by local and national government and other official bodies. nonnegotiable note pagare no negociable nonoil developing country pais en desarrollo no petrolero nonoperating income ingresos no provenientes de las operaciones The revenue of an enterprise derived from sources other than its regular activities. nonoriginal member [MIGA] miembro no fundador Full member, i.e. has signed and ratified the Convention and paid initial capital subscription as required by Resolution No. 12. of the Council of Governors, adopted on March 1989, since adoption of this Resolution. non-pension retiree medical costs gastos medicos del personal retirado no eubiertos por el sistema de pension non performing assets activos no redituables, i~productlvog Assets which have no financial return. nonperforming debt aereencias no redituables, improductivas A debt which has no financial return (i.e. no interest is paid on it). nonperformingloan;nonaccntingloan prestamo no redituable, improductivo Loan where payment of interest has been delayed for more than 90 days. nonpoint source fuente (de contaminacion) no identificable Discharge of pollutants from a non-specific source. Includes runoff from city streets, parking lots, agricultural land and construction sites.

noninterest deficit see primary deficit nonmarket economy economia no de mercado nonmarket services [national accounts] senicios no comerciales

nonportfolio project [IFC] proyecto no incluido en la cartera Project carried out by IFC that does not form part of its loan portfolio, e.g. providing technical assistance.

147 nonpricecompetition competencia no relacionada con los precios nonprofit organization; not-for-profit organization organizaci6n sin fines de lucro nonproject aid asistencia, ayuda no destinada a proyectos especificos, para fines generales nonproprietary name nombre generico; denominaci6n comun nonpurpose loan prestamo sin finalidad especifica nonrecourse finance financiamiento sin posibilidad de recurso A loan where the lenders look solely to the cash flow generated by the project being financed for repayment. There is no recourse to the sponsor of the project, so that the lenders assume all the commercial and political risks of the project. nonrecourse participation participacion sin posibilidad de recurso Sales of participation in a company where the sale is on a "nonrecourse" basis, i.e. the buyer has no recourse against the seller if the project fails to generate money. nonrecurring expenses gastol euraordinariol nonregular staff - NRS personal no permanente nonreporting nonmember country pais no miembro y no declarante nonresponsive ••• que no Ie ajusta (a las estipulaciones, normas, etc.) nonrevenue water agoa que no produce ingresos Water that is supplied but for which no revenue is collected (e.g. illegal extraction, leakages). nonstock corporation sociedad no accionaria

nontuUfbarrier-~

barrera no arancelaria Factors other than tariffs inhibiting international trade. Include advance deposits on import payments, customs and administrative procedures and similar practices. nontradable [noun] bien no comerciable, no comercializable; no exportable 0 importable A good that cannot be exported because its domestic cost of production is higher than the export (fob) price but lower than the import (cit) price. nontraded goods bienes no comerciados, no comercializados, no exportados 0 importados Tradable goods that for economic or policy reasons are neither imported nor exported, or inherently non-tradable goods. nontraded tradable; tradable but nontraded (good, item) bien comerciable no comerciado (etc.) Goods which would usually be imported were it not for an import quota or outright ban enforced against them. "no objection" (procedure) (procedimiento de) aprobaci6n tacita Procedure whereby a proposal is deemed approved if no objection is formally received by a specified date. no recourse sale venta sin recurso de rescision, irrevocable Sale where the buyer has no legal recourse against the seller. no-return equity capital improductivo normal financing financiamiento contra factura not applicable - n.a. no se aplica - n.a. not available - n.a. no disponible - n.d.

148 notebook computer computadora portitil not elsewhere specified - n.e.s. no especificado en otra parte - n.e.p. not-for-profit organization; nonprofit organization organizacion sin fines de lucro not included elsewhere - nj.e. no indicado separadamente - n.i...

nucleus estate plantadon nudeo A central unit in the form of a processing plant or plantation that provides technical assistance, inputs and marketing services to its associated outgrowers who;m~~return, sell their products through the unit. nuisance tariff araneel de "puro estorbo" Very low tariff established merely to cause a nuisance.

not-in-my-backyard see NIMBY note [capital markets] pagare A bond with short- or medium-term maturity. [see also deep discount note; demand note; discount note; floating rate note; interest bearing note; noninterest bearing note; nonnegotiable note; promissory note; Treasury note] note deposit [IDA] depOsito de pagares note issuance facility - NIF see revolving underwriting facility

numeracy conocimientos bisicos de aritmetica numeraire unidad de cuenta; numerario nurse crop; cover crop cultivo protector, de cobertura nurse see practical nurse; registered nurse nutrients nutrientes; elementos, sustandas nutritivos(as) 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 objective function [economic analysis] funtion objetivo A function relating the objective (the variable to be optimized) to the choice variable in an optimization problem. object-oriented programming system - OOPS sistema de programacion orientado a objetos Type of computer programming where each object carries out specific tasks and the information passed between objects is in a standardized way. It is an extension of structured programming. occasional earnings ganandas ocasionales, eventuales ocean freight rate index indice de netes maritimos An index oftrans-oceanic freight rates. For grains, the Bank uses US/Canada (S1. Lawrence) to AntwerplRotterdamlAmsterdam; for sugar Queensland., Australia to UK or Japan.

octane booster aditivo que aumenta el octanaje Fuel additive used to boost octane level. Lead has been the main octane booster till recently but now other, more environmentally friendly substances, such as ether, are being Used. office automation automatizacion de ofieinas; ofimatica office occupancy fee - ooF cargo por usa de ofieinas The fee paid by IFC to the Bank for occupying the I Building. official capital capital ofitial, publico official debt deuda publica

official flows [development] nujos oficiales; corrientes oficiales official holdings tenendas oficiales officialization (of debt) oficializaci6n de la deuda Shifting of the composition of debt holdings from commercial banks to official creditors. off-market~on

transaction fuera de mercado off-season, out-of-season crop cultivos de fuera de estation, de temporada offset agreements acuerdos compensatorios Countertrade in which a company agrees to buy products unrelated to its normal business to complete a sale. offset borrowings emprestitos compensatorios, contra depOsitos Borrowings of funds by Bank from institutions where deposits are held., prior to the maturity of the deposits. offshore assembly, processing elaboracion, montaje de material fabricado en otropais Production activity in a developing country involving assembling materials produced in a foreign country. offshore bank banco extraterritorial Bank located outside the country in question. offshore cost costa extranacional Assembly costs outside the host country. offshore drilling perforation submarina, mar adentro

150 offshore field yacimiento submarino, mar adentro offshore market mereado extraterritorial A non-domestic market, e.g. there is a domestic (US) and offshore market in US dollars.

(drilling) rig, platform equipo, torre de perforacion petrolera; plataforma de perforacion petrolera [mar.] oil sands arenas petroliferas, asf8lticas; arenas impregnadas de brea

offshore processing, assembly elaboracion, montaje de material fabricado en otro pais Production activity in a developing country involving assembling materials produced in a foreign country.

oil shale lutita bituminosa; esquisto bituminoso

offtake [livestock] extraccion Livestock which can be taken out of a herd (flock, etc.) and for marketing.

oilcake torta (de semillas) oleaginosa(s)

oil shock crisis, conmocion petrolera, producida por los precios del petroleo

onchocerciasis; river blindness ceguera de las rios

oncJ",p~c!".!I!.'1;

offtake rate [livestock] tasa de extraccion The rate at which livestock is withdrawn from a herd (flock, etc.) for marketing. off-the-shelf en existencia off-the-shelf goods bienes, mercancias en existencia Goods that are available ready made, i.e. that do not have to be custom made. off-the-shelf purchases compra de bienes en existencia en el mercado off-the-shelf price precio en almacen The price of goods obtained off the shelf. off-the-shelf technology tecnicas disponibles oil see heating oil; heavy oil; heavy fuel oil oil bill [national] gastos en petroleo; costo del petrol eo oil fired power station central electrica de petroleo

on-costs [UK]; indirect costs costos indirectos A cost not attributed to the production of a specified good or service but to an activity associated with production generally. on demand guarantee garantia pagadera a la vista Guarantee, such as a performance guarantee, where the bank issuing the guarantee must pay the person or organization to whom the guarantee is given the sum guaranteed, on demand, without any reason being given. one parent family familia monoparental one-shot survey encuesta puntual one-stop agency, shop ofieina, organismo de centralizacion de tramites System whereby several bureaucratic procedures are combined into one. on-farm consumption consumo en la explotacion agricola on-farm developments, improvements mejoras en las explotaciones agricolas; a veces: adecuacion predial

151 on-fann research - OFR investigacion(es) en las explotaciones agricolas onlend, to represtar; prestar de nuevo (el importe de un prestamo) onlending; onward lending represtamo Equivalent to relending in connection with new money loans. The funds are recorded as a deposit in the central bank but the foreign bank and the contractual borrower (usually the Central Bank) agree that the loan proceeds will be made available to a third party within the country of the borrower. onshore cost; local cost costo en moneda nacional on-the-job training capacitacion, formr.cion, adiestramitnto en el empleo, trabajo onward lending see onlending open cast, cut, pit, strip mining explotacion a cielo abierto, a tajo abierto [Chile] open economy economia abierta An economy which engages in international trade. open-ended commitment compromiso sin plazo 0 volumen definidos open-ended contract; open-end contract contrato de duracion indefinida A contract providing an unspecified amount of goods or services over a period of time, which may or may not be specified.

open general licence - OGL Iicencia general de importacion System where, for a previously approved list of commodities, qualified importers can automatically obtain licenses and unlimited foreign exchange from the authorities. open-hearth steelmaking fabricacion de acero en hogar abierto, en homo Martin-Siemens open market mercado abierto; mereado financiero 1. The market maintained by government securities dealers. As regards U.S. Treasury borrowing operations, the open market is the money market in the case of short-term obligations or the capital market in the case of long-term obligations. 2. The general financial market. open pit, open cast, open cut, strip mining explotacion a cielo abierto, a tajo abierto [Chile] open registry flag; flag of convenience bandera de conveniencia, de favor open tender; public tender licitacion publica open unemployment desempleo evidente, manifiesto operating account cuenta de explotacion, operacion Revenue and expense account. operating budget presupuesto de explotacion, operacion A budget covering recurrent revenue and expense.

open-ended group grupo abierto; grupo de participacion abierta

operating deficit deficit de explotacion, operacion

open-end (investment) fund; unit trust [UK] sociedad de inversiones con numero de acciones variable An investment company that sells and reclaims its capital stock continuously, selling it at book value, adding a sales charge, and redeeming it at a slight discount or at book value.

operating department departamento de operaciones A department in an organization which is responsible for the basic operating functions of the organization (as opposed to support department).

152 operating expenses, costs gastos, costos de explotacion, operacion, funcionamiento The expense, other than financing, of carrying on the normal activities of an enterprise. operating income, profit ingresos, utilidades de explotacion, de operacion operating lease contrato de arrendamiento operativo A lease where the asset is not wholly amortized during the obligatory period (if any) of the lease, and where the lessor does not rely for his profit on the rentals in the obligatory period. In other words, the payments received under the lease do not necessarily cover the purchase price, and the lessor expects to take the asset back and re-lease it or resell it. Operating leases are often offered by equipment manufacturers rather than finance houses. operating leasing agreement acuerdo de arrendamiento de equipo para operaciones Agreement with terms of at least three years where the lessor leases capital goods to a lessee and where rental payments are at least in part dependent on the production, revenues or profits of the investment project. Considered as a type of non-equity direct investment for the purposes of

operating surplus supenivit de explotacion, operacion Operational Assistance - OPAS [UNDP] asistencia operacional - ASOP operational cut-off; effective cut-off; operational threshold limite practico para recibir financiamiento de laAIF The maximum limit above which a country normally does not receive IDA financing. In theory, countries below the formal eligibility threshold can receive IDA financing but, with the exception of a few small island economies, do not. operational department [IBRD] departamento de operaciones Operational Manual Statement - OMS documento del Manual de Operaciones operational, operations research investigacion operativa, de operaciones operational review estudios operacionales operational threshold see operational cut-off

MIGA

operational travel viajes oficiales relacionados con operaciones

operating losses perdidas de explotacion, de operacion

Operations & Maintenance - 0 & M funcionamiento y mantenimiento

operating profit, income ingresos, utilidades de explotacion, de operacion

opportunity cost costo de oportunidad, de sustitucion The value of something forgone. For example, the direct opportunity cost of a man-day of labor is what the man would otherwise have produced had he not been taken away from his usual occupation to be employed in a project. [see also social opportunity cost]

operating program [IBRD] programa de operaciones operating ratio coeficiente de operacion; coeficiente neto de explotacion The operating costs before debt service, depreciation and other financing charges, divided by operating revenues. operating subsidy subsidio, subvencion de explotacion, de operacion, de funcionamiento

option bond see multiple currency option bond option value valor de opcion The value given to keeping an asset (particularly an environmental one) for possible future use.

153 oral procedure [ICSID] actuation, procedimiento oral oral rehydration therapy - ORT terapia de rehidratacion oral A method of treating victims of acute diarrhoea by given them, orally, fluids containing oral rehydration salts which contain special substances to combat rehydration, such as sodium chloride, glucose, trisodium citrate or potassium chloride. orderly marketing arrangements * OMA disposiciones de comercializacion orden ada In international trade, a market*sharing pact that restricts competition and preserves shares in national markets for local manufacturers who would otherwise lose out to cheaper or better products from abroad.

official development assistance. This concept used by the OECD to measure flows from DAC countries to developing countries and to multilateral organizations. outage [electricity] interrupcion del servicio; apagon outgrower agricultor con pequena(s) explotacion(es) satelite(s) Smallholder who manages his own crops but is linked to a nucleus estate in the form of either a processing plant or a plantation. The central unit provides technical assistance, inputs and marketing services and the outgrowers sell their products through this unit. outlay account see income and outlay account

ordinary share see common share organizational fine tuning ajuste institucional organizational structure estructura organica organization expenses; formation expenses gastos (iniciales) de constitution Any cost incurred in establishing a corporation or other form of organization, such as incorporation, legal and accounting fees, promotional costs, etc. These constitute an intangible asset. original issue discount (OID) bond bono emitido con descuento Bond with a rate of interest below that demanded by the market place and sold at a price at a significant discount to par. original member [MIGA] miembro fundador Full member, i.e. has signed and ratified the Convention and paid initial capital subscription prior to adoption of Resolution No. 12. origin tax impuesto de origen other official flows - OOF otras corrientes oficiales; otros flujos oficiales The transfer of resources from donor governments to developing countries which are not classified as

outlier valor atipico Datum that is greater than five standard deviations from the mean. outlier project proyecto aislado A one-ofI project. out-of-school education educacion extraescolar Education taking place outside of schools, colleges and universities and aiming to develop knowledge, skills and attitudes that are not normally given prominence in formal educational institutions. out-of*season crop; off-season crop cultivos de (uera de estacion, de temporada outpatient treatment tratamiento ambulatorio outplacement reubicacion; recolocacion output producto; production; egresados outreach activities actividades de extension, de divulgacion Activities by a central authority (government, World Bank) to establish contact with and assist people or small business in provincial areas.

154 outreach post centro fuera de la sede Local representative for an outreach program. outreach program program a de alcance exterior, de extension, de divulgacion Program by a central authority (central government, World Bank) to establish contact with and assist people or small business in rural areas. outreach worker trabajador, funcionario de extension, de divulgacion; promotor Worker engaged in an outreach program. outright sale venta simple, al contado outsourcing; sourcing contratacion de uno 0 varios servicios, adquisicion de bienes, etc., fuera de la empresa, etc. The process whereby an institution, corporation, etc. has an entire service carried out by an external company or purchases its entire needs in a specific area from an outside company. outstanding bonds, securities, shares, stock honos, valores, acciones en cireulacion Capital stock in the hands of the public.

overage loan prestamo para cubrir posibles excesos de costos A special loan issued to cover excess costs on a project. overdesign diseiio demasiado ambicioso; disdo excesivo para las necesidades overdraft facilities servicio de sobregiro overemployment sobreempleo; hiperempleo; exceso de empleo overexpenditures gastos superiores a los previstos overexposure concentracion excesiva de riesgos de financiamiento overflow basin cuenca de rebalse Swampy area between river levees and valley sides, set aside for the diversion of floodwater. overgeared endeudado en exceso overgrazing pastoreo excesivo

outstanding drawings [IMP]

giros pendientes de reembolso; total, monto neto de los giros In the International MonetaI)' Fund, the total amount of credit outstanding under the different Fund policies and facilities.

overhang exceso de oferta; excedente; sobrante; saldos pendientes Excess, normally of supply over demand. [see also debt overhang]

outstanding external debt deuda extern a pendiente

overhaul [equipment] reparacion general de equipo

outstanding loans prestamos pendientes

overhead capital capital social fijo; capital nacional fijo [see also social overhead capital]

outward-looking, outward-oriented country pais orientado hacia el exterior overaccruals cargos contables excesivos Recording more money than was actually spent in a set of accounts, for an item.

overhead costs; overheads gastos generales An actual cost of doing business that cannot be associated directly with the production of a certain product.

155 overinvestment exceso de inversiones; inversion excesiva

owners' equity see stockholders' equity

overlay [highways] recubrimiento; revestimiento

ownership (of a corporation) los propietarios de las acciones; control mayoritario [see also equity ownership]

overnight funds fondos de un dia para otro Short-teon funds borrowed to be returned by the following business day.

ownership (of programs) autoria; identificacion

overnight maturity vencimiento de un dia para otro

ownership structure (of a company) estructura, composicion del capital social

overseas allowance bonificacion, prima por trabajo en el exterior

own price elasticity; price elasticity elasticidad-precio; elasticidad con respecto aI precio The change in quantity (demanded or supplied) which results from a given change in price.

overshoot exceder el objetivo

ozone-depleting potential - ODP potencial de agotamiento de la capa de ozono -

overrun see cost overrun; time overrun

PAO overshooting ajuste excesivo overstaffed con exceso de personal oversubscription [capital markets] suscripcion en exceso de la emision oversupply oferta excesiva over-the-counter market; curb market mercado extrabursatil, fuera de bolsa Market for securities· not listed in any of the exchanges (about 80 percent of total securities in the U.S.). In the U.S. includes U.S. Government and agency issues, state and local government bonds, railroad bonds and shares, many public utility bonds and shares, and most corporation and bank shares. over-the-counter securities valores extrabursatiles, fuera de bolsa own, to asumir como propio E.g. the Government must own the program.

A measurement of the potential harm of the ozone layer of each Chlorofluorocarbon, based on the life span of the CFC and the number of chlorine atoms it contains. ozone-depleting substance - ODS sustancia que agota la capa de ozono Substance that contributes to destruction of the ozone layer. Cf greenhouse gas; ozone depletion. ozone depletion agotamiento de la capa de ozono The destruction of ozone molecules in the ozone layer by chemical reaction with materials released from human activities, including chlorofluorocarbons and halons. ozone hole agujero en la capa de ozono; adelgazamiento de la capa de ozono A large area over Antarctica discovered to have a seasonal reduction of some 50% in stratospheric ozone as a result of the release of ozone-depleting substances. Subsequent discoveries suggest an ozone hole may be forming in the Northern Hemisphere.

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

-P-

Pacific Rim countries paises del areo del Pacifico package conjunto, serie de disposiciones, equipos, proyedos, actividades, financiamiento; programa de medidu, etc. [see also bid package; financial package; minimum package project; new money packages; policy package; rescue package; slice and package] package coverage [MIGA] cobertura global Coverage of a combination of types of risk. package deal contract contrato global A variant of the turnkey contract. paid-in (share) capital; called up (share) capital capital pagado The total amount of cash, property and services contributed to a corporation by its stockholders and constituting a major balance-sheet item. paid-in capital subscriptions [mRD] monto pagado de lu suscripciones de capital [BIRF] paid-up capital capital pagado, totalmente pagado That part of the issued capital of a company which the subscribers have been required to pay. paid-up stock; fully paid stock acciones pagadas Stock fully paid for (i.e. upon which no further subscription installments are due). 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.

Panel member [ICSID] integrante de la Lista (de Conciliadores 0 de Arbitros) Panel of Conciliators, Arbitrators [lCSID] Lista de Conciliadores, de Arbitros panel of experts grupo de expertos paper [financial] efectos; valores [see also commercial paper; eligible paper; financial paper; government paper; money market paper] paper profit utilidades en libros parallel economy; black economy; underground economy; submerged economy economia subterranea, paralela Transactions for goods and services not declared to the tax authorities and not appearing in the gross national product. parallel financing financiamiento paralelo Cofinancing, but with the partners financing different parts of the project. parastatal [noun] entidad, institucion, organismo, servicio paraestatal parchment coffee cafe pergamino Coffee which is dried but unhulled. parent body organo, organismo principal parent company sociedad, empresa matriz

158 Pareto optimum optimo de Pareto A state of the economy in which all economic resources are allocated and used efficiently, such that it is impossible to make anyone economically better off without making someone else economically worse off. pari passu clause chiusula pari passu Clause in loan agreement precluding subordination of the loan to other debt. In the issue of new shares, it states that the new shares will rank equally for dividend with an existing similar issue. parity price precio de paridad A price which is sought or maintained. For an agricultural product, quantity of the goods and services which could have been purchased with the proceeds of a given amount of the product in a reference period is determined. Parity exists today if the proceeds from the same amount of that product can purchase the same goods and services. Part I countries [mRD] paises de la Parte I In the World Bank, those member countries who are considered as developed countries and no longer entitled to Bank lending. Part II countries [mRD] paises de la Parte II In the World Bank, those member countries that are considered as developing and therefore entitled to borrow from the Bank. partial budget presupuesto parcial A budget that addresses itself to only part of an enterprise. participation certificate; pass-through certificate certificado de transferencia de prestamos Certificate representing an interest in a pool of funds or in other instruments. participation rate; labor force penetration tasa de actividad The extent to which those of working age are actually working.

participative management administracion, gestion participatoria participatory development desarrollo participatorio, con participacion Development where people influence development decisions that affect them. participatory poverty assessment - PP A evaluacion de la pobreza con la participacion de los afeetados participatory rural appraisal, analysis - PRA evaluacion con la participacion de los habit antes de las zonas rurales particulate matter - PM particulas In water, solid matter, in either solid or dissolved states. In air pollution, solid particles or drops of liquid carried by air or other gases. partly knocked down - PKD parcial mente montado Components of a piece of machinery that have only been partially assembled. partner countries paises asociados, que mantienen reladones comerciales partnership sociedad simple, colectiva; asociacion party (to proceeding or to the dispute) [ICSID] parte (en el procedimiento 0 en la diferencia) par value paridad; valor a la par (monedas); valor nominal (valores) When applied to capital stock, a stated amount of money by which the stock is known for accounting and tax purposes. The market value of the stock seldom bears any relationship to its par value. When applied to bonds sometimes used interchangeably with maturity value. pass rate; promotion rate [education} tasa de promocion

159 pass-through audit [ffiRD] evaluacion ex post abreviada de un proyecto pass-through certificate see participation certificate pass-through effect efecto secundario pastoral association - PA asociacion de pastoreo comunitario A legally recognized, voluntary association of pastoral livestock owners who use a common area for grazing and frequent the same water points for the purpose of managing natural resources (water, graze and other vegetation), for the procurement of inputs and services and the selling of products. pastoralist pastor nomad a patching; spot improvement, patching; road, surface patching [highways] bacheo; reparacion de baches pattern farm plan plan modelo de presupuesto de finca payable on demand pagadero a la vista, contra presentacion pay-as-you-eam - PAYE; pay-as-you-go [taxation] retencion (de impuestos) en la Fuente pay-as-you-go system [social security) sistema (0 planes) de reparto; regimen de pagos con cargo a los ingresos corrientes A method of accounting for an unfunded pension plan in which payments to the pension plan beneficiaries are made from current receipts and not from previous contributions. payback period pJazo de amortizacion, de reembolso; pJazo de recuperacion (de inversiones) paying agency fee comision del agente pagador Fee paid by borrower in the financial markets, representing costs incurred in having the borrowing serviced by an agent.

payline curva salarial The line connecting the midpoints of a given salary structure. Also used for the line connecting market pay data for several grades, at a given level. payload carga 6til payment arrears atraso(s) en los pagos; pagos en mora payment basis, on a a titulo oneroso payment bond [US] fianza de pago A bond executed in connection with a contract to assure payment as required by law of all persons supplying labor and material under the contract. payment-in-kind - PIK pago en especie payment guarantee garantla de palO A guarantee executed in connection with a contract to assure payment as required by law of all persons supplying labor and material under the contract. payment schedule plan de pagos Timetable for payment by the purchaser to the supplier/contractor. payments position (ofa country) situacion de pagos (de un pais) payout date fecha de desembolso Date on which a due periodic payment, such as payment on a bond or a stock dividend, is made. payout price precio neto Difference between the face value of a bond and the net value received by the bondholder, after deducting commission.

160 payroll nomina

construction costs is paid and, once approved, no matching of inputs to payment is required.

payroll contributions aportes

percentage point punto (porcentual)

payroll tax impuesto sobre nominas

perfect competition; pure competition competencia perfecta

peak load carga de punta

perfection (of security) inscripci6n; registro (de valores) Registration of a security.

peak (load) shaving [electricity] recorte de la demanda de punta peer monitoring fiscalizacion por los pares Having neighbors who are in a good position to monitor the borrower be required to pay a penalty if the borrower goes bankrupt. peg, to (prices, interest rates) vincular; fijar peg out, to [swveying] marcar; trazar; piquetear penalty clause chiusula penal, punitiva A clause in a legal instrument providing for the assessment of a penalty under certain stated conditions. penstock [hydroelectricity] tubena, canal de presion, de carga A closed conduit which supplies water under pressure to a turbine. pent-up demand demanda reprimida

PIE ratio; price/earning ratio relacion p recio-utilidades per capita income ingreso, renta per capita, por habitante percentage (fee) contract (consultants] contrato a porcentaje, de honorario porcentual A contract where the cost of consulting services are directly related to project construction costs or a ceiling thereof. A percentage of the approved

performance actuacion; desempeiio; resultados; comportamiento; rendimiento; eficacia; etc. [see also economic performance; financial performance; institutional performance; project performance (audit) report; tax performance ratio] performance audit evaluacion de resultados performance bond fianza de cumplimiento A bond put up by a contractor to protect the employer from any breach of contract. This practice is particularly prevalent in the United States, where performance bonds are provided by insurance companies. The bond usually gives the guarantor the option of remedying a specific default by the contractor, performing the contract in his place or paying the beneficiary what it costs to have the contract performed, up to a certain limit of money. performance budget presupuesto por funciones A budget of outputs, as in a planning, programming, budgeting system (PPBS) but often without the accompanying relations to longer range accomplishments that form an integral part of most PPBS budgets. performance chart; working table; management chart diagrama, grMico de situacion A chart comprising numerical data which indicates the current performance of an organization or part of an organization or an individual.

161 perfonnance contract contrato-plan; contrato con fines especificos celebrado entre el gobierno y el sector privado perfonnance evaluation [personnel] evaluacion; calificaci6n perfonnance guarantee [consultants] garantia de cumplimiento A security in the fonn of a performance bond, bank guarantee, cashier's check, certified check or cash at an amount specified in the bidding documents required in a contract to protect the owner in case of breach of contract by the contractor. perfonnance indicators indicadores del desempeiio, de la actuacion Perfonnance Management Process - PMP proceso de evaluacion del desempeiio (del funcionario) World Bank personnel evaluation system. perfonnance monitoring fiscalizacion, seguimiento, observacion del desempeiio, de los resultados perfonnance period periodo de cumplimiento de obligaciones During a workout program for a country with protracted arrears, the period prior to clearance of arrears when the country's perfonnance, including compliance with a Bank-approved structural adjustment program, is monitored by the Bank. This perfonnance period must be satisfactorily completed before the country is eligible for regular Bank lending. Perfonnance Planning and Review - PPR [ffiRD] (sistema de) pJanificacion y evaluacion del desempeiio (del funcionario) System set up by the Bank for evaluating staff perfonnance. An individual perfonnance plan is set up every year and reviewed at the end of that year. Now replaced by the Performance Management Process (PMP). perfonnance requirements [contracts] requisitos de desempeilo, cumplimiento, funcionamiento

performance security [contracts] garantia de cumplimiento, contra el riesgo de incumplimiento A security in the fonn of a performance bond or bank guarantee at an amount specified in the bidding documents required in a contract to protect the owner in case of breach of contract by the contractor. perfonnance specifications especificaciones de funcionamiento perfonnance work statement - PWS (documento de) especificacion de servicios laborales Statement defining the contractual perfonnance required of a vendor providing labor service requirements such as custodial services, construction trades, etc. performing assets activos redituables, productivos periodic health assessment - PHA evaluacion medica periodica (periodic) review clause chiusula de examen (periodico) A clause in a loan agreement, particularly policy-based lending, which gives the lender the right to determine periodically whether the stated objectives are being met and whether any problems have been encountered. If problems occur, further disbursement may be withheld. permanent assets see capital assets perpetual bond bono perpetuo A bond which pays agreed-upon indefinitely. It has no maturity date. personal history [medicine] historia clinica personal stock see registered share, stock Personnel Manual Statement documento del Manual del Personal pest and disease control lucba contra plagas y enfermedades

interest

162 phase out, to eliminar, suspender por etapas, progresivamente phase out period [mRD] periodo de eliminacion gradual de los prestamos del Banco Gradual period by which a country is graduated from the Bank. phase out program [mRD] programa de eliminKion gradual de los prestamos del Banco Gradual program by which a country is graduated from the Bank. Philippines formula [MOy] formula de Filipinas A formula (named after the first country to use it) whereby under the maintenance of value system a country may repurchase the local currency value of its capital subscription with a currency acceptable to the Bank. phosphate rock; rock phosphate fosforita; roca fosfatada physical contingencies asignacion para excesos de cantidades fisicas physical facilities instalaciones physical infrastructure infraestructura fisica physical investment inversion en activos fijos physical planner planificador de obras, de instalaciones physical planning planificacion del espacio fisico Physical Quality of Life Index - PQLI indice de la cali dad material de la vida Indexes which attempts to evaluate quality of life by combining life expectancy at age one, infant mortality rate and literacy rate, each with equal weight.

piggyback financing financiamiento concatenado Financing studies for a future project as part of a loan to finance another project usually in the same sector. piggyback project proyecto concatenado pioneer industry industria pionera, de vangoardia pioneering research investigKion inicial, de avanzada piped water agoa corriente, por tuberia pipeline loan, credit prestamo, credito en tramitacion pipeline of projects; lending pipeline; project pipeline proyectos en tramitacion, en reserva Projects which have advanced beyond the stage of appraisal mission departure, i.e which are expected to be in the forthcoming year's lending program. pipeline project proyecto en tramitacion, en reserva Project in pipeline of projects. pipeline ratio, lending coeficiente de proyectos en reserva Projects past appraisal as a percentage of next year's lending program. pit latrine letrina de pozo pit privy letrina de pozo pithead power plant central electrica en la zona de una hocamina planning see aggregative planning; blueprint planning; comprehensive planning; development planning; family planning; indicative planning figures; land use planning; mandatory planning; manpower planning; Performance Planning and Review; physical planning; planning forecasts

163 planning forecasts previsiones para fines de planificacion

plus sum game; positive sum game juego de suma positiva

planning, programming, budgeting system - PPBS sistema de planificacion, programacion y presupuestacion - Sppp A budget, usually for a government agency, in which the budget items are grouped under various programs.

point see basis point

plant see base load station; biogas plant; biomass (power) plant; coal fired power station; diesel (fired) power plant; oil fired power station; pithead power plant; steam plant; step-down power station; step-up power station plant and equipment instalaciones y bienes de equipo plant breeder see breeder plant breeding fitogenetica plant cover cubierta vegetal plant population densidad de siembra planting material material vegetativo; material de propagacion pleadings [ICSID] presentaciones [demandas, a1egatos, etc.] pledge (of shares) [IFC] promesa de participacion en el capital accionario pledging promesa de contribuciones plot servicing instalation de senicios en los lotes; urbanizacion de lotes plowed-back profits utilidades reinvertidas

point source [environment] fuente puntual An identifiable and confined source of discharge of pollutants. policy-based assistance (medidas de) politica; politicas; asistencia en apoyo de politicas policy-based lending; policy loans [mRD] prestamos, financiamiento en apoyo de reformas de politicas Loans made in support of policy and institutional changes, rather than for specific projects. Normally given under the structural adjustment and sector adjustment lending programs. policy framework marco normativo; marco de politic as; normativa policy package conjunto de medidas de politica policy paper documento de politica (sectorial, financiera, etc.) political entrepreneurship iniciativa, motivacion (politica) Having a "political entrepreneur" who motivates others, engenders trust, and mobilizes tangible benefits to cooperation in the interest of collective action. It is a key element in common property management. poll tax; head tax; capitation tax (impuesto de) capitacion polluter contaminadores (personas, industrias) polluter-pays principle - PPP principio de quien contamina paga Principle whereby a polluter has to pay to clean up the damage his pollution causes.

164 pollution haven pais que pennite la contaminacion sin restricciones Countty which allows companies to pollute with few or no restrictions.

pool unit numerario del fondo comun de monedas A synthetic currency unit used as the nurneraire for the currency pool. In practice, it is the constant 1980 dollar.

polychlorinated biphenyl - PCB bifenilo policiorinado - BPC Aromatic compounds used as insulating and cooling agents, plasticizers and in paper and ink manufacture. They are very stable and are found extensively in the environment.

port authority direcci6n, administration, autoridad portuaria

polycyclic aromatic hydrocarbons - PAH hidrocarburos aromaticos policiciicos - HAP Aromatic ring compounds found in coal, tar and petroleum. They are emitted by combustionrelated activities, including cigarette smoking. polycyclic management ordenacion policiciica Forest management system which is designed to limit the damage to advanced regeneration of commercial species that will become the final timber crop after 20-30 years. It relies on efficient monitoring of stand development, with thinning where necessary to favor the growth of promising individual timber trees. pool see also borrowing pool; currency pool Pool-Based Lending Rate System [ffiRD] sistema de tipos de interes basados en una testa de emprestitos pendientes Lending rate system using the pool-based variable lending rate. pool-based variable lending rate [ffiRD] tipo de interes variable basado en una cesta de emprestitos pendientes ffiRD lending rate where the lending rate on all outstanding balances is adjusted every six months to achieve a given spread above the average cost of outstanding borrowings. pooled loan prestamo incluido en el sistema de fondo comun demonedas A loan included in the currency pooling system. pooling nnion; centralizacion

port charges, tariffs tarifas portuarias port dues; harbor dues, fees derechos portuarios Charges for the use of the port by the ship and its cargo. port of entty price see cost, insurance and freight port of enttylborder point price port of shipment price see free on board port of shipment price port tariffs, charges tarifas portuarias Specific charges for port services such as berth occupancy, aids to navigation, pilotage, towage, cargo handling, power and water supply, etc. portfolio cleanup saneamiento de la cartera portfolio equity inversiones de cartera portfolio equity investments inversiones de cartera en capital social, accionario Investment in money market funds, depository receipts, and direct purchases of shares by foreign investors. portfolio income ingreso(s) de los valores en cartera portfolio sale venta de valores en cartera portfolio securities valores en cartera

165 positive list Iista positiva List of imports defined as critical to a specific program. positive sum game; plus sum game Juego de suma positiva post appraisal mission mision de evaluacion complementaria posted price [oil] precio de lista, cotizado, de cotizacion A written statement of crude petroleum prices circulated publicly among sellers and buyers of crude petroleum in a particular field in accordance with historic practices and generally known by sellers and buyers within the field. posted values precios en plaza Qista de) postgraduate studies estudios de posgrado; estudios posteriores aI primer titulo universitario postqualification ofbidders posealificacion de licitantes Determination of capability and financial resources of a successful bidder who has not been prequalified. pour flush latrine letrina de sifon poverty gap brec:ha de pobreza It measures the transfer that would bring the income of every poor person exactly up to the poverty line, thereby eliminating poverty. poverty income threshold; poverty line linea de pobreza; umbral de pobreza The minimum acceptable level of standard of living in a given country or region. power plant, station see base load station; biogas plant; biomass (power) plant; coal fired power station; dendrothermal power plant; diesel (fired) power plant; oil fired power station; pithead power plant; steam plant; step-down power station; stepup power station

power system red de energia electrica power takeoff - PTO toma de fuerza An attachment, usually consisting of a shaft and two or more universal joints, which is used to transmit power from a tractor to an attached unit such as a combine or hay baler. practical nurse enfermero(a} auxiliar, no dipJomado(a) practice school see demonstration school preamble to an agreement; recital of an agreement preambuJo de un convenio preappraisal evaluacion preliminar preappraisal mission mision de evaluacion preliminar precedent conditions [legal] condiciones previas Conditions which must occur for a subsequent event to take place. Frequently found in international contracts. precipitator; dust collector; dust separator precipitador An air pollution control device usually using mechanical/electrical means to collect particulates from an emission. predatory price precio desleal predevelopment work [oil] actividades previas a la explotacion predicated variable; predictor variable independiente, predictiva predictor; predicated, independent, explanatory variable; fixed variate; regressor [statistics] variable independieote, predictiva If a relationship between two variables x and y is interpreted in a causal way such that changes in y are said to be caused or explained by changes in X, then x is the predictor.

166 preemptive rights see first refusal rights preference, preferential margin; margin of preference preferencia; margen de preferencia Preference given to certain goods and services of local origin in a contract. [see also domestic preference] preferred provider organization (PPO) system sistema de prestador preferido - Spp Health care system where care is provided by allowing participants to choose among participating professional, who are paid on either a fee for service or capitation (fixed amount per participant per year) basis. preferred stock acciones preferenciales, preferentes, preferidas Stock which has a claim upon the earnings (and sometimes upon the assets and control) of a corporation prior to the common or other class stock. prefinancing prefinanciamiento; financiamiento previo pre investment study, survey estudio de preinversion preliminary application for guarantee [MIGA] solicitud preliminar de garantia An initial application for a MIGA guarantee, to be made before the investment is made or irrevocably committed. It sets forth the information MIGA needs to make a provisional determination that the investor and the investment appear eligible for MIGA guarantees. See notice of registration, definitive application for guarantee. preliminary design, engineering pianos preliminares; estudios tecnicos preliminares preliminary estimates of quantities estimaciones cuantitativas preliminares preliminary question [ICSID] cuesti6n previa prematured loan prestamo cuyo vencimiento se ha anticipado Loan that matures before time initially specified.

prematuring anticipacion del vencimiento premier borrower see prime borrower premium (see also inflation premium; price premium; quality premium; standby premium] premium recargo; bonificacion premium, at a con recargo premium [MIGA] prima Sum charged by MIGA for each guarantee, calculated on an annual basis as a percentage of the amount of guarantee. premium [securities] prima; agio The difference between the par value and the higher market value of a security expressed as a percentage of the par value. premium [stocks] prima de emision Difference between the face value and the selling price of the share when the selling price is higher. premium on prepayment (mRD] prima por reembolso anticipado premium sale vents con prima preparatory school; feeder school; contributory school escuela preparatoria prepayment [lBRD] reembolso anticipado prepoolloan prestamo anterior aI sistema del fondo comun demonedas Loan made before the introduction of the currency pool (prior to 1980).

167 prequalification documents documentos de precalificacion

were not and could not have been fully anticipated at the time of budget preparation.

prequalification of bidders precalificacion de licitantes In procurement, determination of the technical and financial capacity of potential bidders to perform the contract.

presumptive taxation impuestos sobre la renta presuntiva, premnta Lump sum taxation paid in advance.

pre-reading prelectura Learning about the nature and function of print, reading commons signs and labels, learning letters and some sounds and writing one's name. present value, worth valor actual, actualizado An amount which, taking into account the earning power of capital over time and the difference in time between the present and some future date, would be equivalent today to an expenditure or receipt at such a future date; the result of discounting a future value to the present by the appropriate discount rate. present worth of an annuity factor valor actual de una anualidad constante How much 1 received or paid annually is worth today. preseIVation forest bosque totalmente protegido Forest designated for total protection of representative forest ecosystems in which all forms of extraction are prohibited. pre-shipment inspection inspeccion previa aI embarque Inspection of procured goods before they are shipped. pre-shipment price inspection verificacion de precios previo aI embarque A new Bank requirement in international competitive bidding, whereby prices are checked, prior to shipping, by a third party inspection company, to ensure that they are accurate and competitive. President's Contingency resenta del Presidente A fund, usually one percent of the Budget, used to meet resource demands during the budget year that

prevailing market rate tipo, tasa vigente en el mereado prevalence [disease] prevalencia price adjustment clause; price escalation clause; escalation clause clausula de ajuste de precios Clause in a contract that states that price adjustments will be made in the event changes occur in major cost components of the contract such as fuel, labor, equipment and materials. price contingencies asignacion para mas de precios price differential, spread margen, diferencia entre los precios price-earning ratio; PIE ratio - PER relacion precio-utilidades Market price per ordiruuy share divided by earnings per ordiruuy share after tax. It expresses the market value placed on the expectation of future earnings. price effect efecto en, sobre los precios price elasticity; own price elasticity elasticidad-precio; elasticidad con respecto aI precio The change in quantity (demanded or supplied) which results from a given change in price. price escalation clause see price adjustment clause price ex factory see ex factory price price fixing fijacion de precios; fijacion ilicita de precios (entre productores)

168 price freeze congelacion de precios price incentives incentivos de precios price inelasticity inelasticidad con respecto aI precio When there is no change in quantity (demanded or supplied) as a result of a change in price. price leader, setter, maker que impone los precios price level accounting; general price level accounting contabilidad seg6n el nivel general de precios price maintenance see resale price maintenance price maker, setter, leader que impone los precios A seller who dominates to the extent that when it changes prices, its competitors make similar changes. price premium sobreprecio price quotations [contracts] cotizaciones price range escala, gama de precios price schedule [procurement] lista de precios A document containing an itemized breakdown of the goods or services to be provided with a statement of the unit prices applicable. price setter, maker, leader que impone los precios price spread, differential margen, diferencia entre los precios price support sosttn, apoyo de precios price swing fluctuacion, oscilacion de precios

price taker pais que no influye en los precios intern acion ales A party to a transaction in which the price was determined by natural forces of competition. The seller wanted a higher price, while the buyer wanted a lower price; neither could influence the price because it was determined by the market. price to factory precio puesto en fabrica priced bill of quantities estimacion cuantitativa con precios Detailed list of the work to be done, as priced by the contractor, based on quantities estimated by employer and engineer. pricing policy politica de precios; politica tarifaria pricing system [financial markets] sistema de fijacion de tipos, tasas de interts primal city ciudad principal primary commodity, product producto primario, basico A commodity which has not yet undergone any significant degree of processing, e.g. natural rubber, raw wool, etc. primary deficit; noninterest deficit dtficit primario; deficit excluido el pago de intereses Deficit which excludes all interest payments and which therefore only measures current deficit rather than current and past deficits. primary exporting country pais exportador de productos primarios primary health care atencion primaria de (la) salud Health care based on practical, scientifically sound and socially acceptable methods and technology, made universally accessible to individuals and families in the community through their full participation and at a cost that the community and the country can afford to maintain.

169 primary producing country pais de produccion primaria primary product, commodity producto primario, buico primary reserves resen'as primarias Funds which a bank keeps for immediate use as opposed to secondary reserves which are not for immediate use but can be quickly converted to money. prime bill valor, efecto de primera cJase A bill of excbange in which the parties have high credit ratings. prime borrower; premier borrower prestatario preferencial, preferente, de primera clase The most creditworthy type of borrower. prime contractor; principal, main contractor contratista principal, primario prime rate tipo preferencial; tasa preferencial prime underwriting facility (PUF) see revolving underwriting facility principal principal; capital (de un prestamo) principal contractor; prime, main contractor contratista principal, primario principal (income) earner principal sosten economico principal economist economista principal principal exchange rate linked securities notes pagans con pago del principal vinculado a los tipos de cambio de diversas monedas Principles of StafIEmployment [World Bank] principios relativos al empleo del personal printout impresi6n, impreso (de computadora)

prisoner's dilemma [economics] dilema del prisionero Theory which compares naked self-interest with cooperation. private benefit-cost ratio - PBC relacion costos-beneficios privados private final consumption expenditure - PFCE gasto de consumo final privado Discretionary expenditure by individuals. private sector assessment - PSA estudio (de evaluacion) del sector privado Assessment carried out by the Bank to identify opportunities and obstacles facing private sector development. private voluntary organization - PVO organizaci6n privada de voluntarios privatization vouchers cupones para la privatizacion Vouchers used in the voucber privatization system. privy see aqua privy; pit privy privity [legal] relacion contractual (bipartita) The principle whereby only the two parties to a contract have a contractual relationship and no third party is involved in this relationship. problem loan [IFC] prestamo problematico procedural law; adjective law derecbo procesal, adjetivo, de forma The bodies of principles and rules of law other than the substantive law dealing not with the rights and duties of persons but with the means whereby those rights and duties may be declared, vindicated or enforced, or remedies for their infraction ensured. Includes court procedure, rules relating to the jurisdiction of different courts, pleading, evidence, appeal, execution of judgements, legal aid, conveyancing, costs, etc. procedural orders [ICSID] disposiciones procesales

170 proceedings deliberaciones, acta de sesion(es); actoaciones (juridicas) proceeds importe, fondos de un prestamo 0 credito; producto process chart see flow chart process control control de proce80s industriales process engineering ingenieria de procesos processed multicopiado Refers to a document that has been distributed in an unpublished fonn. processing of a loan tramitacion del (de un) prestamo processing elaboracion; transformacion; tramitacion; tratamiento; etc. procurement see bulk procurement procurement agent agente de adquisiciones Finn which specializes in handling international procurement and acts on behalf of contract awarding authority in a bid. Procurement Manual Statement - PMS documento del Manual de Adquisiciones procurement (procedures) procedimientos de adquisicion producer gas gas pobre A low-energy gaseous fuel, generally produced from coal, whose principal combustible components (carbon monoxide and hydrogen) are generally diluted by air. producer goods bienes de produccion Goods manufactured for use in making other goods but which do not themselves continue

through the manufacturing stream and are not used directly by consumers. producer price precio al productor; precio recibido por el productor The price of a unit of output of some commodity as it leaves the establishment of the producer. It includes any indirect tax or subsidy levied on that output before it leaves the establishment. producer price equivalent - PPE equivalente de subvencion de precios al productor The value of transfers to farmers generated by agricultural policy. These are paid either by consumers in the fonn of market price support or by taxpayers via direct payments and other support. Measures the aggregate assistance to producers before deduction of farm feed adjustment. producers' values [national accounts] valor a precio de productor The value in the market of the gross output on commodities, industries, etc at the establishment of the producers; or the sum of the values of direct inputs, intennediate inputs at purchasen' values and indirect taxes less subsidies in respect of the commodities, industries, etc. product in hand contract contrato "producto en mano" Turnkey contract which detennines the characteristics of the final product to be manufactured. production build up aumento de la produccion production forest bosque de produccion Forest designated for sustainable production of forest products. production possibility curve; transfonnation curve curva de posibilidades de produccion; curva de transformacion A graphic representation of the various output combinations of two commodities which can be produced from a given quantity of resources.

171 production-sharing contract contrato de participacion en la produccion Contract where the contractor makes contributions to the investment project and his remuneration substantially (but not necessarily wholly) depends on a share of the production of the investment project, including his right to purchase such share at a predetermined price or a price to be determined under an agreed formula. Considered as a type of nonequity direct investment for the purposes of MIGA. productive capacity capacidad de produccion product mix combinacion de productos; composicion de la produccion; estructura de la produccion product wage salario-producto profit and loss account [UK]; income statement [US]

estado de ingresos y gastos, de perdidas y ganancias profit center [accounting] centro de uolidades A responsibility center which accumulates revenues as well as costs. profit making con fines de lucro profit margin margen de utili dad, de beneficios profit on sales of investments utilidad sobre la venta de inversiones profit sharing participacion en las utilidades profit-sharing contract [MIGA1 contrato de participacion en las utilidades Contract where the contractor makes contributions to the investment project and his remuneration substantially depends on the revenues or profits of the investment project.

profit squeeze reduccion de los margenes de utilidad profits tax impuesto sobre las utilidades, los beneficios program aid asistencia, ayuda para programas program budget presupuesto por programas A PPBS budget which emphasizes long-range planning and associated accomplishments and resource requirements. program contract plan contractual A concept developed in France and now used in Senegal, Cameroon and other former French colonies. They are performance contracts between Government and companies generally covering a period of three years, which set annual targets for the company (covering physical production, operating efficiency, billing recovery, employee training, etc.) and establish reciprocal commitments by the Government (e.g. agreement on tariff levels, investment support, increased managerial autonomy, etc.). They are indicative rather than legally binding. program evaluation and review technique - PERT ticnica de evaluacion y revision de programas PERT A tool of managerial economics used both in planning a project and in monitoring it. A PERT chart shows each task to be performed, the time each will require, the prerequisites and other information. program loan, lending prestamo, financiamiento para programas Bank loan given not for a specific project but to help a country overcome unforeseen temporary difficulties which would otherwise result in inappropriate long-term policy adjustments to correct short-term balance of payments problems.

172 program objective category - POC categorias prlncipales del programa de operaciones The main areas covered by the Bank's operation program. Currently they are poverty reduction, adjustment and debt, human resources development, private and public sector development, environment and forestry, financial intermediation, natural resources, infrastructure and urban development and economic management. program of special emphasis - PSE program a de atencion especial Program that the Bank is giving special priority to, covering such areas as debt management, human resources, women in development, environment, food security, poverty alleviation and private sector development. Program of Targeted Interventions - PTI Program a de intervenciones dirlgidas progress certificate [IBRD] estado de pagos (certificado) progress chart grftfico de ejecucion [see also construction progress chart] progress payment pago parcial; pago a cuenta Payment made as work progresses under a contract on the basis of costs incurred, percentage of completion or a particular stage of completion. progress report~ status report informe sobre la marcha (de un proyedo), sobre la labor realizada, sobre las actividades project advance account cuenta de anticipos para la preparacion de un proyecto project agency organismo del proyecto; organismo responsable del proyecto project agreement convenio sobre el proyedo project aid asistencia, ayuda para proyedos

project appraisal evaluacion (inicial) de un proyedo, de proyedos project area zona del proyedo project audit, evaluation evaluacion ex post de un proyecto, de proyectos project brief datos basicos de un proyecto In Bank projects, the basic issues-oriented operational document relating to the early part of the project cycle. It is short (2-6 pages) and focuses on a project's development objectives, policy or other issues and the preparation work required. project completion report - peR informe de terminacion del proyecto, de proyectos - ITP A report prepared within six months of the completion of loan/credit disbursements which highlights strengths and weaknesses of the project and draws appropriate lessons for the Bank for future projects. project cycle cicio del proyedo, de los proyectos The sequence of analytical phases through which a project passes. project design diseno, formulacion, preparacion de un proyecto, de proyectos project enterprise [MIGA] empresa del proyedo; empresa receptora del proyedo A corporation, association, partnership or any other entity which holds title to, or the power to dispose of, the assets contributed to the Investment Project. project evaluation, audit evaluacion ex post de un proyedo, de proyedOS project fund agreement convenio sobre financiamiento para el proyecto Agreement whereby a lender agrees to lend funds for a specific project.

173 project identification

project rent

identification, determinacion de un proyecto, de proyectos

Income derived from a project.

utilidades netas derivadas de un proyecto

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

project life

An unconditional promise in writing made by one person to another signed by the maker, engaging to pay, on demand or at a fixed or determinable future time, a sum of money to or to the order of a specified person, or to bearer.

pagare duracion, vida util, de un proyecto project loan, lending

prestamo, financiamiento para un proyecto, 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]

project manager

ingreso(s), renta(s) proveniente(s) de 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 memorando de evaluacion ex post de un

articulo patentado 0 de marca registrada

proyecto

proprietary interest

project performance audit report - PP AR informe de evaluacion ex post de un proyecto A report which provides a preliminary review and evaluation of a project at the end of the execution phase.

An ownership interest, as in the interest held by an equity holder in a company or a patent holder who licenses use of the patent by others.

interes mayoritario

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 proyectos

pro rata commitment authority limitations

limites a la facultad para contraer compromisos impuestos por el principio de proporcionalidad

174 pro rata recall reintegro a pro rata, proportional Currency recalls for outstanding loans whereby major cWTencies would be recalled in proportion to the amounts that remain outstanding on each of these loans (as opposed to the previous system where the order of the currency recalled was determined by the Bank). This new system was introduced in January 1990. pro rata rules [IDA] printipio de proportionalidad Rules which state that other donors may maintain proportionality vis-a-vis the US in the amount of contribution released for commitment. prospectus [financial markets] prospecto A document containing all the pertinent information about a public offering of securities and about the borrower. It is made available to the appropriate legal authorities, stock exchanges, and the prospective investors by the lead manager.

prudential supervision and regulation normas de distiplina y control; supervision y regiamentation prudent man rule norm as de prudente discretion In a trust arrangement, one of the frequent limitations of the trustee's actions; it states that the trustee may make investments "only in such securities as would be acquired by prudent men of discretion and intelligence in such matters who are seeking a reasonable income and the preservation of their capital." prudent shopping comparacion de precios; obtention de cotizationes public borrowing, offering oferta publica; emision ofrecida al publico public (capital) expenditure gastos publicos de capital

protected forest bosque protegido; bosque de protection

public corporation empresa, sociedad publica

provision [accounting1 resen'a; asignation

public debt deuda publica

provision for losses; reserve for losses; loss provision resen'a para perdidas

public economics economia del sector publico

provisional measure [ICSID] medida provisional proxy sustituto; sustitutivo; representativo; poder (juridico) proxy [ffiRD lending rates] cantidad representativa (de los emprestitos del BIRF contraidos antes del initio del sistema de tipos de interes basados en una cesta de emprestitos pendientes) prudential constraints limitationes por razones de prudencia

public enterprise rationalization loan - PERL prestamo para racionalizacion de empresas publicas World Bank loan to help rationalize the finances of a public enterprise. public enterprise reform loan - PERL prestamo para reforma de empresas publicas World Bank loan to help reform the finances of a public enterprise. public enterprise rehabilitation loan - PERL prestamo para rehabilitacion de empresas publica, World Bank loan to help rehabilitate the finances of a public enterprise. public offering, borrowing oferta publica; emision ofrecida aI publico

175 public sector borrowing requirement - PSBR necesidades de financiamiento del sector publico The total excess of expenditure over revenue for all government entities, which must be financed by new borrowing net of repayment of previous debts.

purchasing power parity - PPP paridad del poder adquisitivo An exchange rate adjustment that changes a currency's foreign purchasing power after there has been a change in that currency's domestic purchasing power.

public tender; open tender licitacion publica

purchasers' values [national accounts] valor a precio de comprador The cost of goods and services in the market to the point of delivery to the purchaser. Equals producers' values plus the trade and transport margins appropriate to the purchaser in question.

public utilities senicios publicos public utility corporation empresa de senicios publicos public works; civil works obras civiles publicly guaranteed debt deuda con garantia publica

pure competition; perfect competition competencia perfecta pure IDA countries paises que sOlo reciben financiamiento de la AD

publicly held government debt deuda publica del Estado, en poder de particulares

pure stand cultivo unico, de un solo tipo 0 especie A stand of trees in which at least 80 percent of the trees in the main crown canopy are of a single species.

publicly issued (bonds, etc.) (bonos, etc.) emitidos mediante oferta publica

pure time preference see rate of pure time preference

publicly traded company sociedad cuyas acciones se cotizan en bolsa

pure variety; true to type variety [agriculture] variedad pura A variety that is like the parental type, without change.

pull-down menu menu desplegable

push inflation see cost-push inflation pull inflation see demand-pull inflation pump priming policy [economics] politica de reactivacion Government policy of spending during a recession in order to put money into the economic stream so that spending power will continue and economic expansion will follow. pumping station see booster pumping station 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.

put option opcion de venta A contract which entitles one party to it, at his option, to sell a specified amount of securities or commodities to the other party, at the price fixed in the contract, during the life of the contract. "put right" guarantee garantia de funcionamiento de acuerdo con las especificaciones garantizadas

176

-Qqualified agreement to reimburse acuerdo, convenio condicional de reembolso Agreement given by the Bank to a commercial bank to enable a borrower to make purchases under a loan agreement prior to disbursement of the funds. The guarantee is qualified and the Bank has the right to cancel its guarantee should the loan be suspended or cancelled. [See also irrevocable agreement to reimburse.] qualified bidder Iicitante calificado A bidder for a contract who has prequalified, i.e. who has been deemed capable of performing a particular contract satisfactorily based on past performance, quality of staff and equipment and financial position. qualified borrowing(s) [currency pool] emprestitos calificados Originally, borrowings by mRD after July 1, 1982 (i.e. based on the pool-based variable lending rate), using proxy borrowings. Under the current system (May 1989), they are defined to exclude borrowings that are determined by the Bank to fund investments and any new differentiated loan product should the Bank wish to offer one in the future. The extraction of borrowings that fund investments would be made separately for each currency. The term Qualified Borrowings 1982 is used to describe the old system. qualified guarantee garantia condicional

qualified opinion {auditing] dictamen con reservas An auditor's opinion that indicates that the auditor has found deficiencies in the financial statements, as regards the accounting (e.g. reservations on acceptability of the accounting policies and their consistent application) or auditing (e.g. timing of appointment after valuation of inventories or other assets) or there is significant uncertainty due, e.g. to the outcome of major lawsuits or other contingent liabilities. qualifying shares acciones habilitantes Stock, possession of which enables the holder to buy further stock at a predetermined (reduced) price. qualitative coinsurance coaseguro cualitativo Insurance involving two or more underwriters with the different underwriters underwriting different risks pertaining to the same project. quality loan [mRD] prtstamo de cali dad A Bank loan which has been carefully prepared and is financially viable. quality premium prima de, por calidad quantitative coinsurance coaseguro cuantitativo Insurance involving two or more underwriters with the different underwriters underwriting separate tranches of a single large risk. quantity surveyor estimador, medidor de materiales

qualified instrument of commitment instrumento de compromiso condicionado Agreement by a member country to pay its subscription and contribution in part, with the remainder subject to enactment by its legislature of the necessary legislation.

quantity theory of money teoria cuantitativa del dinero Theory holding that the overall level of prices is proportional to the size of the money supply. A key monetarist theory.

qualified majority mayoria calificada

quantum index 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

-R-

radial reductions reducciones arancelarias radiales Method of reducing a tariff structure whereby at each stage all tariffs are reduced to an equal fraction of their previous levels. radiative forcing forzamiento radiativo; variaciones climaticas inducidas por la radiacion solar Changes in the climate due to changes in solar radiation. Solar sunspots and the greenhouse effect are examples. rainfed de secano; de temporal [Mexico]; de rulo [Chile]

rate basis conversion conversion de la clase de interes Option in IFC loan that allows the borrower to convert from a variable rate to a fixed rate loan or vice versa. rate contract contrato a precios unitarios A contract for the supply of goods at specified rates during the period of the contract. rate of exchange see buying rate of exchange rate of pure time preference tasa de preferencia pura en el tiempo The interest rate at which consumers are willing to forgo present consumption in order to save, presumably for future consumption.

rain forest bosque hiimedo, pluvial; selva pluvial [see also tropical rain forest]

rate of return tasa de rentabilidad, de rendimiento [see also economic rate of return; equalizing rate of return; financial rate of return; incremental rate of return; internal rate of return; required rate of return; social rate of return]

raise, to (funds, etc.) obtener, movilizar (fondos, etc.)

rated capacity capacidad de disei'io, nominal, de regimen

random sample muestra aleatoria, aI azar

rating agency organismo de clasificacion de valores Organization that evaluates the credit rating of prospective borrowers on the securities markets.

rangeland tierra de pastoreo range management ordenacion de tierras de pastoreo rank correlation coefficient see Spearman's rank correlation coefficient ratchet effect efecto de trinquete The idea that at the beginning of a recession consumers try to maintain the same level of spending and investment. ratcheting up atza, subida por efecto de trinquete

ratio see accounting ratio; acid-test ratio; affordability ratio; Bruno ratio; capital-labor ratio; capital-output ratio; capital-service ratio; costbenefit ratio; current ratio; debt-equity ratio; debtto-capital ratio; debt-to-equity ratio; debt ratio; debt-service ratio; dependency ratio; enrollment ratio; entrepreneurial benefit-cost ratio; equity ratio; feed conversion ratio; fill ratio; financial ratios; gearing ratio; grade ratio; gross (primary) enrollment ratio; housing expenses/income ratio; import coverage ratio; incremental capital-output ratio; input-output ratio; interest coverage ratio; interest service ratio; land equivalent, equiValency ratio; land use ratio; leverage (ratio); liquidity ratio; liquid ratio; long-term debt ratio; minimum cash ratio; modified Bruno ratio; net energy ratio;

179 operating ratio; price-eaming ratio; private benefit-cost ratio; pupil-teacher ratio; quick ratio; reserve ratio; risk asset ratio; smoothness ratio; staffing ratio; stripping ratio; taxlGDP ratio; tax performance ratio; tax ratio; teacher-pupil ratio; volatility ratio; working capital ratio; working ratio rational expectations expedativas racionales A theory based, first, on the assumption that individuals and companies will try to maximize their own welfare -- that is, they will try to make their own economic and other circumstances as desirable as possible -- and, second, that, as individuals and companies make economic decisions in their own interest, they do so in such a way that markets move towards equilibrium, easing inflation. raw data datos brutos, sin elaborar raw water agua bruta, cruda, sin tratar rea:fforestation; reforestation reforestacion; repoblacion forestal real assets bienes inmuebles, raices; activos reales real effective exchange rate tipo de cambio efectivo real Nominal effective foreign exchange value of the dollar (a trade-weighted exchange rate) multiplied by the ratio of the US consumer price index to the foreign consumer price index. Below 100 the dollar depreciates in real terms; above 100 it appreciates in real terms. real estate developer promotor inmobiliario; urbanizador real estate equity participacion en inversiones inmobiliarias real sectors sectores productivos The nonfinancial sector.

real terms, in en terminos, cifras reales realized price [oil] precio efectivo, de realizacion The price actually obtained on the world market for sales concluded. rebar [= reinforcing bar] barra de refuerzo Bar used for reinforcing concrete. recall [MOV] reintegro recall installments [MOV] pagos parciales por concepto de reintegro recall under loans [MOV] reintegro de los montos en prestamo recapture clause c1ausula de recuperacion Clause in a loan agreement that allows a lender to recover part or all of his previously lent assets if economic circumstances improve. receivables; accounts receivables cuentas por cobrar received energy energia recibida recession recesion recession crop cultivo de decrecida Crop planted on land which has recently been flooded. recession, recessive cultivation cultivo en recesion Cultivation in an area where the amount of land available for cultivations is being reduced due, e.g. to desertification. recipient country pais receptor, beneficiario

180 reciprocal debt deuda recfproc:a

recovery recuperacion; reactivacion

recital of an agreement; preamble to an agreement preaimbulo de un convenio

recurrent costs, expenditures gastos, costos ordinarios (en presupuestos); gaslos periOdicos Costs for items consumed immediately or used up in a comparatively short period, usually a year.

reclaim bonU!acar;recuperar;sanear reclamation see land reclamation recognition and enforcement (of award) [ICSID] reconocimiento y ejecucion (de un laudo) recommendation domain aimbito de aplicacion de las recomendaciones

recurrent education; lifelong education; continuing edcation educacion permanente recycling (of capital) reciclaje; recirculacion (de capital) redeemable rescatable; redimible; amortizable

reconciliation account cuenta de recollciliacion Account which shows any difference between two or more accounts.

redemption rescate; redencion; amortizaeion

reconciliation item [accounting] partida de reconciliacion Item in account that reconciles the differences between two or more accounts.

redeployment cost costo de conversion, de modificacion The cost of switching one type of loan to another, e.g. from a fixed rate loan to a variable rate loan.

reconcile conciliar; reconeiliar

redeployment cost [IFC] cargo por reinversion The cost levied by IFC and representing its cost of reinvesting a prepaid loan at a lower interest rate.

reconnaissance survey estudio preliminar reconstitution conversion inmediata Immediate conversion of interest payments received in a currency other than a pool currency into a pool currency. reconstruction import credit - RIC credito para importaeione! con fines de reconstruction record owner propietario registrado A person who has title to a property, though not necessarily beneficial use of it. Cf. beneficial owner. recoupment [insurance] resarcimiento

redeployment (of funds) reasignacion, redistribueion (de fondos) red herring issue emision exploratoria An issue of bonds made on an experimental basis. rediscount redescontar; redescuento Resale of instruments such as banker's acceptances already discounted by lender, usually with central bank or discount house, at a price less than the face value. rediscount ceiling limite de redescuento reducing charge method see declining balance method

181 redundancy [staffing] exceso de personal; reduction de personal; prescindencia; supresion de puestos reference rate of exchange [MIGA] tipo de cambio de referenda The effective average rate of exchange applied by the central bank or other foreign exchange regulatory authority of the host country for the exchange rate category concerned on the date of loss to conversion of the local currency into guarantee currency. reference zone; target zone [foreign exchange] zona de referenda A wide zone of exchange rates, perhaps plus or minus 10 per cent, within which a currency can freely move against other currencies. Suggested at the New York Plaza Agreement at the Group of Five meeting, 9/85 and proposed by the French Treasury 2/86, as a way to reduce major currency swings. referral remision; envio refinancing refinanciacion; refinanciamiento reflation reflacion reflecting pool fondo indicativo [fondo comun de monedas] Concept of movements in the currency pool reflecting movements in the three main currencies constituting the pool (US dollar, yen, mark). This concept enables borrowers to predict changes in the currency pool by watching changes in these three currencies on the world markets. reforestation; reafforestation reforestacion; repoblacion forestal Establishment of trees on ground that has been cleared of trees.

reembolso; refinanciacion regional integration arrangements acuerdos regionales de integraeion register see land register Register [ICSID] Registro registered [vehicle] matrieulado; inscrito registered (e.g. tradesmen) inscrito; registrado; automado registered bond bono nominativo A bond whose ownership is recorded by the issuer. registered capital; share capital capital social, accionario, en accionel registered nurse enfermero(a) diplomado(a) registered security valor, titulo nominativo A security whose ownership is determined by the name in which it is registered as opposed to a bearer security whose ownership is determined by who possesses it. registered seed semilla registrada The progeny of foundation or registered seed. registered share. stock; personal stock acciones nominativas Stock which cannot be transferred without placing the signature of the owner upon the books of the issuing corporation and delivery of the certificate. registrar [ICSID] registrador

reform see land reform refresher course corso de repaso; curso de adualizadon (para refrescar los eonocimientos)

registration [Stock Exchange] inscripdon regrading [highways] renivelacion

182 regrading [personnel] reclasificacion regraveling; graveling recubrimiento, aplicacion de grava regress see economics of regress regression equation ecuacion de regresion An equation expressing average relationships between two or more variables. regressor; predictor variable independiente, predictiva An independent variable in a regression analysis. regrowth reb rote regular appointment [ffiRD] nombramiento ordinario, permanente regular budget presupuesto ordinario One of three Bank budgets, it is for funds used to cover the administrative expenses of the Bank.

rehabilitation import credit, loan - RIC, RIL credito, prestamo para importaciones con fines de rehabilitacion Loan, credit to support policies to stabilize the economy and reactivate growth, following a period of economic decline caused inter alia by inappropriate policies. reimbursable budget presupuesto para programas reembolsables One of three Bank budgets, it is for funds used to cover costs on behalf of outside agencies under biJIing agreements. reinforcing bar; rebar barra de refuerzo Bar used for reinforcing concrete. reinsurance reaseguros Form of insurance used by insurance companies for their own protection, whereby they share insurance risk with other insurance companies. The risk they share may either be in the form of an individual risk (facultative reinsurance) or a large number of risks (treaty reinsurance). release see block release

regular lending program [ffiRD] programa ordinario de financiamiento The Bank lending program that includes the base lending program and the standby program. regular share acdon ordinaria Share of IBRD capital stock other than those allocated as membership shares. regular staff personal permanente Regulations and Rules (of the Centre) [ICSID] Reglamento y Reglas (del Centro) regulatory agency organismo regulador

release [ICSID] fasdculo release, to [capital] entregar; Iiberar relend, to represtar; prestar de nuevo (el importe de un prestamo) relief socorro; auxilio; alivio; etc.; desgravacion (fiscal) relocation grant asignacion, subsidio por traslado remeasurement contract see unit price contract

rehabilitation rehabintacion; reorganizacion; modernizacion; etc.

remedy see legal remedy

183 remittances transferencias [empresas]; remesas [see also workers' remittance] remote sensing teledeteccion; teleobservacion renewable energy energia, energeticos renovable(s); energia, eoergeticos de fuentes renovables rent see economic rent; project rent rent recovery index [projects] Indice de recuperacion de la renta economica The proportion of the economic rent created by a project that accrues to project beneficiaries and is recovered from them. rent-seeking (sistema de) captacion de rentas repayment bond fianza de reembolso Form of performance bond issued by a bank as a repayment guarantee.

repeat financing financiamiento complementario rephasing of a debt; debt rephasing; rescheduling of debt reprogramacion (del servicio) de la deuda replacement cost costo de reposicion, de sustitucion replacement level [population] nivel de reemplazo, de renovacion replacement value see current (entry) value replenish (an account), to reponer; reconstituir replenishment of resources reposicion de los recursos [AD]; reconstitucion de los recursos The addition of funds to IDA. The Eleventh Replenishment starts fiscal year 1997. replicability posibilidad de repeticion, de duplicacion report (of Commission) [ICSID] acta (de la Comision)

repayment guarantee garantia de reembolso Form of guarantee whereby the guarantor undertakes, in the event of default by the principal, to pay the beneficiary an amount advanced or paid by the beneficiary to the principal in accordance with the contract between them. They are generally issued by banks.

reporting country pais declarante, informante

repayment schedule plan de amortizacion

reporting requirement(s) requisito(s) en materia de informes

repeater loan prestamo complementario

reporting system [projects] sistema de preseotacioo de informes

repeater project proyecto complementario Project in the same sector and same country as a previous project.

representations declaraciooes

repeater rate [education] tasa de repeticion The rate at which students repeat a grade.

reported debt deuda notificada

representative office [bank] representacioo repression see financial repression

184 repurchase agreement acuerdo de recompra Arrangement by banks and other institutions to borrow short-term (usually one day) money by transferring securities to the lender, with the agreement that they will buy them back.

reservation salary, wage saJario de reserva The minimum wage at which a worker will accept work.

request for proposal - RFP solicitud de propuestas

reserve against losses reserva para perdidas

Requesting Organization [ICSID] organismo solicitante

reserve asset activo de reserva Those funds which constitute reserves in a bank.

required rate of return - RRR tasa de rentabilidad requerida, exigida requited transfer transferencia con, de contrapartida Transfer of resource or financial item between two countries that is counterbalanced with a similar transfer in the other direction. resale price maintenance - RPM imposicion de precios por el fabricante Agreement whereby manufacturers independently or collectively specify minimum prices at which their products could be resold by wholesalers and retailers. rescheduling of debt; rephasing of a debt; debt rephasing; debt rescheduling reprogramacion (del servicio) de Ja deuda rescue package programa, conjunto de medidas de rescate, de salvamento resealing [highways] reseHado research and development - R&D investigacion y desarrollo research-push innovations; upstream innovations innovaciones inducidas por Ja investigacion reservation price (of labor) precio de reserva The minimum price at which an individual is willing to offer a good or service. Often applied to labor, it is the lowest wage at which an individual is willing to offer his or her services.

reserve see legal reserve

reserve center centro de reserva Country or area where significant financial reserves are held. reserve currency moneda, divisa de reserva The name given to a foreign currency which a government is prepared to hold as part of its foreign exchange reserves. This is used tor financing international trade. reserve for contingencies; allowance for contingencies; contingency allowance reserva para imprevistos, contingencias An amount of retained earnings earmarked for general undetermined contingencies or for any indefinite possible future losses. reserve for depreciation; allowance for depreciation; depreciation allowance asignacion, reserva para depreciacion A valuation account set up to allow for the depreciation in an asset. reserve for losses; provision for losses; loss provision reserva para perdidas An amount of retained earnings earmarked for any indefinite future losses. reserve money; base money base monetaria; dinero primario reserve operations [lending program] operaciones "en reserva" Lending operations on which initial preparation is being undertaken but which have not been appraised.

185 reserve position posicion de reserva(s); situacion de las reservas reserve ratio [banking] coeficiente de reservas, de Iiquidez The fraction of demand deposit money which a commercial bank must keep in its reserve account. This ratio determines the maximum amount of money a bank may loan out. In the United States, the legal reserve requirement is imposed by the Federal Reserve on depository institutions. The reserves (cash maintained in a bank's own vault or claims on cash on deposit with compulsory or optional depositories) for transaction accounts are 3% on $25 million or less and 12% for larger sums. reserve requirement encaje legal; reserva obligatoria reserved procurement adquisicion reservada (a proveedores, contratistas nacionales) Under the Bank's procurement guidelines, procurement that the client wishes to reserve for local suppliers or contractors, where it would have been attractive to international competition. resettlement grant asignacion, subsidio por reasentamiento, por reinstalacion resident mission mision residente resident office ofieina del representante residente resource balance balanza de recursos The difference between exports of goods and nonfactor services and imports of goods and nonfactor services. resource based industries industria basada en recursos naturales resource envelope presupuesto In budgeting, an overall expenditure limit for a unit. The unit can then decide how it allocates individual expenditures within this envelope.

resource( s) gap deficit, insuficiencia, brecba de recursos Imports of goods and nonfactor services minus exports of goods and nonfactor services, or the resource balance with the opposite sign. resource-neutral sin efecto sobre los recursos responsibility center [accounting] centro de responsabilidad Any organizational unit accountable to higher authority for performance of assigned functions, usually including its incurrence of specific costs under budget limitations and control. responsive ... que se ajusta (a las estipulaciones), normas, etc.; que tiene en cuenta. .. restocking reposicion de existencias restraint policy politica de austeridad restricted currency moneda de uso restringido The portion of capital subscriptions paid in the currencies of members and usable by IBRD in its lending operations only with the consent of the respective members. restricted distribution distribucion reservada restricted release (of 18% currency) Iiberacion restringida (de los montos del 18%) Release by Bank member of its 18% currency for lending or relending, with some restrictions, such as the requirement that the funds only be used in the currency concerned without being converted or are only used for initial lending and not indefinite lending and rei ending. Restricted Toxic Materials List - RTML Lista de Sustancias Toxicas Probibidas A list of toxic materials that may not be used in Bank projects. restrictive trade policy politica comercial restrictiva

186 resubmission [ICSID) resometimiento (en el senti do del Art. 52[6] del Convenio)

retirement of outstanding debt reembolso, rescate (anticipado) de la deuda [see also debt retirement)

resurfacing [highways) renovacion de la superficie

retraining readiestramiento

retail banking servicios bancarios para consumidores Traditional banking operations conducted with the general public.

retrieval recuperacion

retail training formacion en el propio pais Training of officials directly in the country by their compatriots rather than abroad by ED! or others. ret:tined earnings utindades no distribuidas Accumulated net income, less distributions to stockholders and transfers to paid·in capital accounts. retainer honorario anticipado retention money retencion en, como garantia; montos retenidos en garantia Percentage of each payment retained until the contract has been completed and the contractor has fulfilled his performance (and maintenance) obligations. retention rate; grade ratio [education) tasa de retencion Percentage of students that pass from one grade to next grade. retired debt deuda amortizada A debt that has been paid off. retirement (ofa fixed asset) baja (de activos fijos) Removal of an asset from service, following its sale or the end of its productive life, accompanied by the necessary adjustment of fixed asset and depreciation-reserve accounts. retirement benefits pension; jubilacion

retroactive financing; retrofinancing financiamiento retroactivo Reimbursement by the Bank of expenditures made by the borrower before the date of signing a loan agreement, as an exception to normal financing. It is subject to a fixed cutoff date, before which expenditures are not eligible for Bank financing. retrofinancing see retroactive financing retrofitting renovacion; reconversion industrial [see also custom retrofitting) return of capital recuperacion del capital The return to the investor of part or all of the initial investment of capital in a project. return of investment recuperacion de la inversion return of labor (lista de) efectivos laborales A detailed list of the staff and labor employed. return on, to capital rentabilidad, rendimiento del capital 1. The internal rate of return incremental net benefit after financing. 2. Net income divided by equity.

of

the

return on, to investment rentabilidad, rendimiento de la inversion returns; revenues ingresos; rentas; entradas returns to scale rendimiento a escala; rendimiento en funcion de la escala

187 revaluation revaluation; revalorization

revenues; returns ingresos; rentas; entradas

revaluation factor [currency pool] factor de revaluacion A ratio establishing the appreciation or depreciation due to exchange rate changes in the U.S. dollar value of currencies in the pool from one date to another. It is calculated by dividing, as of any day, the total U.S. dollar value at the exchange rates of that day of the balances of currencies in the pool brought forward from the previous day, by their total U.S. dollar value at the exchange rates of the previous day.

reverse charge call; collect call; transfer charge call lIamada de cobro revertido

revealed comparative advantage - RCA ventaja comparativa manifiesta, expllcita, evidente, etc. Concept developed by Bela Balassa, it is measured by an item's share in the country's exports relative to its share in world trade. If the share of the item in the country's exports is more than the corresponding world share, then the country has a revealed comparative advantage; if less, it has a revealed comparative disadvantage. revenue see current revenues; fiscal revenue; government revenues revenue account [national accounts] cuenta de ingresos revenue-earning enterprise empresa productiva, que produce ingresos revenue recognition registro de ingresos In accounting, when income is deemed to have been received. IFC records dividends, profit participations and fees (other than commitment fees) as income when received. Income and commitment fees are recorded as income on an accrual basis. It does not recognize income on loans where collectibility is in doubt and payments of principal or interest are past due more than sixty days. revenue sharing participacion en los ingresos (fiscales)

reverse transfer of technology transferencia inversa de tecnologia Transfer of technology from the developing to the developed countries. review clause; (periodic) review clause clliumla de examen (periodico) Clause in a loan agreement which allows the lender to determine periodically whether stated objectives are being met. review mission mision de exam en revised minimum standard model - RMSM modelo estandar minimo modificado An IBRD mathematical model of monetary aggregates, covering a few basic economic factors. revolving credit credito renovable, rotatorio, refinanciable Any line of credit that be borrowed against up to a stated credit limit and into which repayments go for crediting. revolving fund fondo rotatorio A fund for project-related expenditure. revolving underwriting facility - RUF; note issuance facility - NIF; prime underwriting facility -PUF servicio de emision de pagares - SEP A medium-term arrangement under which a borrower can issue short-term paper (Euronotes) backed up by commercial bank underwriting commitments. rhizomes; rootstock crops rizomas; cultivos de rizomas 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 right of way derecho de via; zona expropiada; servidumbre de paso

risk pooling [MIGA] cobertura conjunta de riesgos Sharing of risks among members of an insurance pool.

rights issue, offering emision, oferta de acciones (con derecbo preferencial de suscripcion)

risk posture posicion de riesgo The degree of risk of an investment.

riot [MIGA] modn An assemblage of individuals who commit public acts of violence in defiance of local authority. Covered by MIGA under the war and civil disturbance category. Cf. civil commotion.

risk spread margen risk transformation guarantees garantias relativas a la transformacion de riesgos

ripple price effects repercusiones de las alzas de precios

river blindness; onchocerciasis ceguera de los rios; oncocercosis

risk allowance [projects] margen (de precio) en concepto de riesgos An allowance made when funding a project for risks that might occur.

river channel cauce, lecbo, canal de un rio

risk-asset ratio relacion riesgo-activos Ratio between assets held and amount of risk. MIGA's risk-asset ratio may not exceed one-tofive. risk capital; venture capital capital de riesgo Capital invested in high-risk or relatively high-risk securities and enterprises, in expectation of commensurately high returns. It is sometimes used of equities or ordinary stock, the dividend of which varies with the profits earned by the corporation. risk contract [oil] contrato de riesgo Contract that typically places all risk and investment on the contractor, who provides capital for exploration and production. risk management gestion de (los) riesgos

ro/ro [= roll-oniroll-ofI] autotransbordo; embarque, desembarque por propulsion propia road base see base [highways] road, surface patching; spot improvement, patching; patching [highways] bacbco; reparacion de baches road pricing fijaci6n de cargos por el uso de las carreteras road user charges cargos a los usuarios de las carreteras rock phosphate; phosphate rock roca fosfatada, fosforita rollback desmantelamiento In GATT, the progressive dismantling of all trade restrictions which are inconsistent with GATT. rolled (costs) (costos) promediados

189 rOiling back reducci6n rolling plan plan renovable roll-onlroll-off - rolro autotransbordo; embarque, desembarque por propulsion propia rollover refinanciamiento continuo; renovaci6n 1. Reinvestment of money received from a maturing security in a similar security. 2. Term used for a delay allowed by a lender to borrower in making a principal payment on a loan. With governments, rollovers in the form of refundings or refinancings are routine. rollover credit see revolving credit

Rules of Procedure for Arbitration Proceedings (Arbitration Rules) [ICSID] Reglas Procesales Aplicables a los Procedimientos de Arbitraje (Reglas de Arbitraje) Rules of Procedure for Conciliation Proceedings (Conciliation Rules) [ICSID] Reglas Procesales Aplicables a los Procedimientos de Conciliaci6n (Reglas de Conciliacion) Rules of Procedure for the Institution of Conciliation and Arbitration Proceedings (Institution Rules) [ICSID] Reglas Procesales Aplicables a la Iniciacion de los Procedimientos de Conciliaci6n y Arbitraje (Reglas de Iniciacion)

rollover of gains reutilizacion de las ganancias

Rules of Procedure for Meetings of the Executive Directors Reglamento Interno para las Reuniones del Directorio

rollover project, program repeticion de un proyecto, programa

runaway inflation innacion desenfrenada, galopante

root crops rakes alimentarias; cultivos de raices alimentarias; tuberculos alimentarios

running average; moving average media, promedio movil The average rate of interest applied to an outstanding loan, based on the rates applied on all previous disbursements, weighted, where necessary, to allow for different levels of disbursement.

rootstock crops; rhizomes rizomas; cultivos de rizomas rotating savings and credit association - ROSCA asociacion de ahorro y credito rotatorio Type of savings institution whereby each member contributes a certain sum each month and the entire proceeds for that month are given to one individual. Each member takes it in tum to be the recipient. roundwood madera redonda routine maintenance mantenimiento de rutina, rutinario row crops cultivos en hileras

running contract contrato por cantidades aproximadas A contract for the supply of an approximate quantity over or below the approximate quantity mentioned in the contract. This reduces the holding cost and is normally applied to goods for which prices are not subject to appreciable market fluctuations. running costs gastos de explotacion run-of-mine coal; mine run coal carbOn sin c1asificar, tal como sale, en bruto 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

- Ssanitation saneamiento safe drinking water see safe water Safe Motherhood Fund [ffiRDIWHO] Fondo para la Maternidad sin Riesgos Safe Motherhood Initiative [ffiRDIWHO] Program a para la Maternidad sin Riesgos safe water; drinking water; safe drinking water agua potable Drinking water. The terms drinking water, safe water and safe drinking water are used interchangeably. safety net medidas de proteccion social [see also social safety net] salaries and wages sueldos y salarios saleability [securities] posibilidad de colocacion saleable assets activos vendibles sale from portfolio venta de valores en cartera sale of loan maturities venta de vencimientos de prestamos sales tax impuesto sobre, a la(s) venta(s) salt lick; mineral lick salegar salt water intrusion intrusion de agua salada Salt water entering fresh water, thereby destroying freshwater sources. salvage value valor de recuperacion, de rescate

Saudi Arabian light (crude oil); light Arabian crude (petroleo) crudo liviano; ligero de Arabia Saudita The world's most prolific crude oil, frequently used as a marker crude in establishing the prices of other crudes. savings and loan association sociedad de ahorro y crMito; sociedad de ahorro y prestamo scarcity value valor en razon de la escasez scatter chart, diagram; scattergram diagrama de dispersion scattered plotting grlifico de dispersion schedular tax; scheduled tax impuesto cedular schedule anexo [convenios de prestamo 0 credito]; cuadro; programa; calendario; etc. schedule contract contrato con base en una lista oficial de precios schedule of rates contract contrato basado en una lista de tarifas A type of unit price contract, paid on the basis of a schedule of rates. It is similar to a bill of quantities contract but used where the quantity of work to be performed is difficult or impossible to estimate in advance, such as maintenance, drilling or dredging. scheduled tax; schedular tax impuesto celular school mapping levantamiento del mapa escolar, de mapas escolares

192 scrap, to desechar; dar de baja; desguazar scrap value valor residual, de desecho SDR currencies monedas que integran la cesta del DEG Sea Island cotton; West Indian cotton; Egyptian cotton; kidney cotton algodon de Barbados; algodon de las Indias Occidendales; algodon egipcio seasonal credit credito estacional seasonally adjusted ajustado para tomar en cuenta las variaciones estacionales; desestacionalizado seasonal movements variaciones estacionales seasonal peak maxima estacional; punto maximo estacional seasoned securities valores acreditados

second tier bank 1. banco de segunda instancia 2. banco de importancia secundaria 1. Bank used as secondary source for funds. 2. Smaller lenders, i.e. banks other than the main commercial banks. Used particularly in Latin America. second tier country pais de nivel intermedio A classification proposed by OECD which covers those countries below the newly industrialized countries but above other developing countries. They are exporters of between $100 million and $2 billion worth of manufactured goods. Include Chile, Cyprus, Haiti, Indonesia, Jordan, Macau, Malaysia, Malta, Mauritius, Morocco" Peru, Philippines, Sri Lanka, Thailand, Tunisia and Uruguay. secondary education see lower secondary education; upper secondary education secondary energy; final energy energia secundaria, final secondary market mercado secundario secondary market mortgage institution institucion de transferencia de hipotecas

second-best optimum subOptimo; segunda alternativa If one of the conditions for Pareto optimality cannot be fulfilled, then the best attainable situation (the second-best optimum) can, in general, only be achieved by departing from all the other Paretian conditions.

secondary reserves segunda linea de reservas

second-best policy politica subOptima

secondary securities valores de segundo orden

second generation special account - SGSA cuenta especial secundaria Special account set up for use by a specific implementation unit that cannot readily access the special account to meet eligible expenditures as they occur.

secondary transmission line; subtransmission line linea de transmision secundaria, subtransmision Transmission line in a subtransmission system, i.e. one which supplies distribution substations from bulk power sources, such as large transmission substations or generating stations.

second lowest bidder licitante que presenta la orerta c1asificada en segundo lugar [see also lowest bidder]

secondment adscripcion; envio en comision de servicio

secondary recovery recuperacion secundaria

193 sector adjustment loan - SECAL; prestamo para (fines de) ajuste sectorial A loan aiming at major policy improvements in a sector.

packaging and selling of a pool of creditor in the form of a security". 2. The tendency on financial markets to make greater use of securities, Le. firms issue securities rather than borrow directly from banks.

sector GDP PIB sectorial

The contribution to GDP generated by a particular sector. sector implementation review - SIR examen de la ejecucion de proyectos sectoriales sector investment and maintenance loan - SIM prestamo para inversion y mantenimiento sectoriales Loan aimed at investing in a particular sector maintaining the level of activity in that sector.

security seguridad; titulo; valor; garantia 1. Document giving title to property or claim on income. 2. Income-yielding paper traded on the stock exchange or secondary market. [see also bid security; blue chip security; giltedged secuntIes; government securities; marketable securities; outstanding securities; overthe-counter secuntIes; performance security; portfolio securities; seasoned securities; secondary securities; social security]

sector loan prestamo sectorial, para un sector A loan geared towards a particular sector.

security agreement acuerdo de garantia

secular trend tendencia a muy largo plazo Long-term average of a statistical series, usually understood to cover at least three or four generations.

security lending prestamo en valores; financiamiento en valores Lending of securities which the lERD owns (typically a U.S. Government obligation) against receipt of cash or similar securities as collateral in amounts equal to or higher than the market value of the security lent.

secure a loan, to garantizar un prestamo; obtener un prestamo secured loan prestamo garantizado

security of tenure seguridad de tenencia; seguridad en el cargo; inamovilidad

securities (custody) account cuenta de valores (en custodia)

sedimentation ponds estanques de sedimentacion Pond where waste water is temporarily stored to allow the solids to settle out.

securities dealer; securities firm corredor de valores; sociedad de valores Firm acting as a principal rather than an agent in the securities market.

seed see breeder seed; certified seed; field seeds; foundation seed; registered seed

securities market mercado de valores The primary and secondary market for negotiable equity (stocks) and long-term debt instruments (bonds). securitization conversion de activos financieros en valores 1. Issue of securities in exchange for debt. The Bank has used it to specifically refer to "the

seed capital; seed money capital simiente, generador seed farm finca, granja (de produccion) de semillas seed garden buerta (de produccion) de semillas

194 seed money; seed capital capital simiente, generador

self-financing autofinanciamiento

seed plant

self-financing-ratio - SFR. coeficiente de autofinanciamiento The rate at which a project is financed from internal resources.

planta de simiente; planta para semilla seedling phintula; pJanton (de arboles); pJanta de semillero, vivero seine fishing pesca (con redes) de tiro seismic survey estudio, reconocimiento sismico

self-help autoayuda; esfuerzo propio self-help housing scheme plan de vivienda por el sistema de esfuerzo propio y ayuda mutua self-insurance autoaseguro

seizure [legal] secuestro Act or process of seizing property by virtue of a writ or other legal order to satisfy a judgment made by a court under the authority of a legal order.

self-liquidating assets activos autoliquidables, autoamortizables Assets that will pay for themselves over a period of time.

selection felling, cutting tala select iva Harvesting of only a small proportion of the standing crop.

self-liquidating project proyecto que se autofinancia Credit reimbursed by the income from the operation for which it was lent.

Selective Capital Increase - SCI aumento selectivo del capital An increase in the Bank's capital which does not apply equally to all shareholders. The most recent one was in 1984. Though always referred to as Selective Capital Increase, the legal document calls it Special Capital Increase.

self-reliance confianza en si mismo; capacidad para valerse por si mismo [see also collective self-reliance]

self-adjustment autocorreccion; autorregolacion

self-sufficiency autosuficiencia; autonomia; autoabastecimiento

self-care; self-treatment autotratamiento; autoterapia

self-sustaining growth crecimiento autosostenido

self-contained; free standing independiente; autonomo

self-sustaining state situacion de autosostenimiento

self-determination autodeterminacion; fibre determinacion

self-targeting (commodity) (producto) destinado por so propia indole a determinados grupos de la poblacion Basic foodstuffs that are mainly consumed by the poor. So-called because their target is obvious.

self-employed person trabajador por cuenta propia, independiente, autonomo

self-restraint autolimitacion; moderacion; autocontrol

195 self-treatment; self-care autotratamiento; autoterapia self-weighting sample muestra autoponderada sell down venta de un credito fuera del consorcio The transfer of a credit from a bank within a syndicate to a bank outside the syndicate. seller's market mercado de vendedores; mercado favorable aI vendedor selling consortium, group, syndicate consorcio (bancario); grupo de colocacion; grupo vendedor A group of bank or securities dealers involved in placing a security as sellers.

senior debt, loan deuda prioritaria; prestamo prioritario Debt for which claims on the assets of the borrower rank ahead of other debts in case of liquidation. senior economist economista superior senior level staff funcionarios superiores senior management administracion superior senior manager directivo principal; alto (uncionario; funcionario superior Senior Policy Seminar [EOI] Seminario de politicas generales

selling rate precio vendedor; precio de venta Price proposed (for a security).

Senior Policy Seminar on... [EDI] Seminario de politicas de. ••

selling value valor, precio de liquidacion, de realizacion

sensitive product producto sensible a la coyuntura

semiannual coupon equivalent basis, on a [bonds] sobre una base semestral

sensitivity analysis anailisis de sensibilidad A study of the impact that changes in costs and benefits would have on the profitability or present value of a project.

semiknocked down - SKD semimontado seminar see Board seminar seminar paper documento para un seminario semipermanent housing vivienda semipermanente semipublic company empresa mixta, semipiiblica, paraestatal semiskilled manpower mano de obra semicalificada semiskilled worker trabajador semicalificado

separation [employment] separacion del servicio septic tank tan que septico; foso septico sequential cropping see double cropping serial bond, loan bono, prestamo de vencimiento escalonado; bono, prestamo con vencimiento elegido a la suerte 1. Bond issues split into a series of maturities. 2. Special type of serial bonds where reimbursement is decided by drawing in lots (used in France).

196 service see debt service; fee-for-services basis service; selvice line; supply line; connection [electricity] conexion de senicio service a loan, to atender el servicio de un prestamo service and support fee [IFC] cargo por senicios Fee paid by IFC to the World Bank for the services it receives from the Bank.

settlement (of a dispute) [ICSID] arreglo (de una diferencia) settlement date fecha de cierre, de liquidacion The date on which payment for a transaction must be made. settlement of maintenance of value; maintenance of value settlement liquidacion por concepto de mantenimiento del valor

service industry industria de senicios

settling-in grant [IBRD] subsidio, asignacion para instalacion Grant provided to assist new staff members in meeting additional expenses (electrical appliances, furniture, car, etc.) associated with relocation to the Greater Washington Metropolitan Area.

service line; service; supply line; connection [electricity] conexion de senicio

severance pay indemnizacion por despido; prestacion, pago de cesantia

service road via, calzada de senicio

sewage disposal eliminacion de aguas negras, senidas

service station [livestock] puesto de monta

sewage (treatment) plant planta de tratamiento de aguas negras, senidas

serviceable [highways] transitable

sewerage project proyecto de alcantarillado

serviced area, lot, site zona urbanizada; lote con servicios Site having essential services.

shadow discount rate tipo, tasa de descuento sombra, de cuenta The opportunity cost of capital.

servicing [plots] instalacion de senicios en los lotes; urbanizacion de lotes

shadow exchange rate - SER; shadow pricing of the exchange rate tipo de cambio sombra; tipo de cambio de cuenta The exchange rate that reflects the value of an additional unit of foreign exchange in terms of the domestic currency as used for domestic consumption.

service charge cargo, comision por senicios

serving chairman presidente en funciones session [lCSID] periodo de sesiones set aside agreement acuerdo, convenio de destinacion especial Agreement for payment receipts from a project to be designated for a specific purpose.

shadow price precio sombra; precio de cuenta The value used in economic analysis for a cost or a benefit when the market price is felt to be a poor estimate of economic value.

197 shadow pricing of the exchange rate see shadow exchange rate shadow project proyecto compensatorio Project that would provide substitute environmental services to compensate for the loss of the original assets. shadow rate of interest tipo, tasa de interes sombra; tipo, tasa de interes de cuenta Rate of interest used as the discount rate in project analysis. Include consumption rate of interest and accounting rate of interest. shadow wages salario sombra; salario de cuenta A wage rate that is used for measuring the opportunity cost of labor in project analysis. Three components are used to establish it: forgone marginal product, changes in consumption and savings and changes in leisure. shakeout (of the market) asentamiento; sacudimiento 1. A moderate stock market or business recession, usually corrective of an inflationary condition. 2. Any movement in the market prices of securities that forces speculators to sell their holdings. share see also bonus share; common share; founder's share; membership shares; outstanding shares; publicly traded share; qualifying shares; registered share; stock share capital; registered capital capital social, accionario, en acciones Capital represented by shares of capital stock. [see also authorized share capital] share capital, to supply participar en eJ capital social share premium account [IFC] 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.

share retention agreement [IFC] acuerdo de retencion de acciones Agreement, under which a company agrees not to sell the stock of another company in which IFC has an interest, until the loan has been reimbursed. sharecropping aparceria; medieria shareholders' equity see stockholders' equity sharing clause chiusula en que se estipula que se ban de com partir los reembolsos Clause in loan agreement that states that if one participant fails to receive payment, the others will share receipts with the participant(s) not receiving payments. shell (of a building) obra gruesa shell company sociedad ficticia; compaiiia de papel Company which exists on paper but does not apparently trade or operate, possibly being used as a cover for illegal or unethical activities. shifting cultivation cultivo migratorio shifting of tax traslacion del impuesto Changing the tax burden so that someone other than the person or firm on whom the tax is levied pays all or part of it. shift parameter parametro de cambio Parameter leading to a movement to the left or right of a curve, e.g. a demand curve. shipping transPorte maritimo; embarque; envio; etc. shipping conference see liner (shipping) conference

198 shopping [procurement] comparacion de precios A procurement method based on comparing price quotations obtained from several foreign or local suppliers, usually at least three, to ensure competitive prices. It requires no formal bidding documents and is an appropriate method for procuring readily available off-the-shelf goods or standard specification commodities that are small in value. shortfall deficiencia; disminucion; insuficiencia; deficit short form audit report informe corto de auditoria A succinct report or letter prepared by an auditor following an audit. It is addressed to the management or directors. The short form is standard. Cf. long form audit report. short list lista final de seleccion short season (crop) (cultivo de) temporada corta short staple cotton algodon de fibra corta Cotton with fibers of 3/8 to 1 inches long. Short Term Economic Monitor [mRD] indicadores de las perspectivas economic as a corto plazo showcase project proyecto de exposicion Project designed for prestige, with high unit andlor recurrent costs. The Bank does not normally support such projects. Siam cotton; tree cotton; Ceylon cotton; China cotton algodon arbOreo

smOR [= Singapore Interbank Offered Rate] SIBOR (tasa de oferta interbancaria de Singapur) side letter; supplemental letter carta complementaria

sight assets activos a la vista sight deposit deposito a la vista Deposits held in banks and similar deposit-taking institutions which are transferable by check or withdrawable in cash without notice. sight liabilities obligaciones a la vista simplified sewerage sistemas simplificados de alcantarillado A modified design of sewer so that the sewers are smaller, shallower and flatter, with fewer manholes, with no decline in performance but with cost savings of about 30 percent over the costs of conventional sewerage. single-crop economy economia de monocultivo single currency loans, [ffiRD] prestamos en moneda unica; prestamo en una sola moneda mRD program where selected borrowers are offered a choice of currencies on their loans as an alternative to the existing standard multicurrency loan product. The program offers United States dollars, yen, deutschmarks, French francs, and pounds sterling. Its interest rate will be tied to sixmonth LIBOR in each loan currency (pmOR in the case of French francs). single-entry accounting contabilidad por partida simple A system of accounting in which only records of cash and of personal accounts are maintained. single factorial terms of trade relacion de intercambio de un solo factor Terms of trade incorporating productivity changes in the exporting country. Provides a useful indicator of changes in the amount of real resources, in the form of capital and labor services, which a country must give up in order to purchase a given volume of imports.

199 single fertilizer fertilizante, abono lIimple A fertilizer containing only one nutrient. single parent family, household familia monoparental sink: (e.g. of greenhouse gases) lIumidero; medio receptor; zona de abllorcion, de disipacion Receptacle, or receiving area, for materials translocated through a system (e.g. the oceans are the sink: into which many water-borne pollutants are drained; the seed of a plant is the sink: in which nutrients are stored). sinking fund fondo de amortizacion A fund created by a borrower for the purpose of redeeming bonds. The borrower is obliged to redeem specified amounts of the bond within specified periods.

site plan plano del emplazamiento, del lugar sites and services lotell y servicioll The provision of land and basic public services, to enable housing projects to get off the ground. sitting [ICSID] sellion sketch plan [architecture] boceto; croquill skidding arrastre, deillizamiento de troncoll skilled manpower mano de obra calificada skilled worker trabajador calificado

sinking fund factor factor de fondo de amortizacion The level deposit required each year to reach 1 by a given year. The reciprocal of the compounding factor for 1 per annum. Generally obtained from a set of compounding and discounting tables. This factor permits calculating the equal installment that must be set aside each year, to be invested at compound interest, in order to have a predetermined sum at a given time. It is primarily used to determine how much must be put into a fund in order to have recovered the amount of an investment at the end of its useful life.

skills conocimientoll; experiencia; competencia

sister companies emprellall allociadas, pertenecientell aI millmo grupo; afiliadas

slack [economy] [noun] capacidad no utilizada

site lugar, emplazamiento (de un proyecto) site coverage terreno comprendido, cubierto site development preparacion del terreno; trabajoll de urbanizacion

skills development capacitacion; adiestramiento; formacion skills mix combinacion de especialidadell skill training center centro de dellarrollo de aptitudes; centro de capacitacion especializada; centro de perfeccionamiento

slash-and-bum cultivation metodo de roza y quema Agricultural method involving slashing undergrowth at ground level and felling trees with axes at any convenient height. The area is then thoroughly burned and crops planted. slice [contracts] porcion; componente; etc. 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] fraccionamiento de adquisiciones Project where contractors and manufacturers may bid for an individual contract (slice) or group of similar contracts (package) rather than the whole project. "slice and package" contract contrato fraccionado Contract allowing use of slice and package technique. sliding-scale clause chiusula de escala movil slippage; lag retraso; demora; desfase slow onset emergency; quiet emergency situacion de emergencia latente Emergency which occurs over a period of time, such as a drought, and which rarely causes much destruction of physical assets. sluggish growth crecimiento lento sluice price; sluice gate price; lock gate precio de compuerta [avicultura] A theoretical cif price used in calculating European Communities supplementary levies on imports of pork, poultry and eggs. slum barrio de tugurios slum clearance eliminacion de tugurios, de zonas de tugurios slump contraccion; recesion slumpflation recesion con inflacion Harsh economic conditions created by a combination of simultaneous recession and growing unemployment as well as rapid price inflation. slum upgrading mejoramiento de zonas, barrios de tugurios

small and medium enterprises - SME; small- and medium-scale enterprises - SMSE pequeiia y mediana empresa - PYME small and medium industries - SMl; small- and medium-scale industries - SMSI pequena y mediana industria small-bore sewerage see effiuent sewerage smallholder pequeno agricultor smallholding pequeiia explotacion agricola small-scale enterprise - SSE pequeiia empresa small-scale industry - SSI pequeiia industria small-scale irrigation pequefia zona, pequeno proyecto de riego smoothness ratio coeficiente de uniformidad snatching effect efecto de captacion incidental de beneficiarios The effect of creating incidental beneficiaries to a project as well as those intended. social accounting matrix - SAM matriz de contabilidad social A system of accounts in which the various incomings of each and every account are represented by an ordered row and the corresponding outgoings by a similarly ordered column. They describe the financial flows that take place within and among various institutions and sectors of the economy, each of which is disaggregated according to local conditions and policy relevance. They integrate data on income distribution and production and are suitable vehicles for studying the impact of macroeconomic policy action on the level of living of different household groups.

201 social accounts cuentas sociales; contabilidad social The systematized treatment of social indicators which represent quality of life conditions in a country, region or other geographical unit.

have

been

weighted to priorities.

reflect

social

income~stribution

social advantages ventajas sociales, colectivas

social opportunity cost costo de oportunidad social The opportunity cost to society of diverting resources from marginal private sector projects to public sector ones.

social benefit-cost ratio ~ SBC relaci6n costos~beneficios sociales

social overhead capital infraestmctura social

social benefits prestaciones sociales

social overhead investment inversion en infraestmetura social Investment in social facilities.

social costs costos sociales, colectivos social dimensions of adjustment ~ SDA aspectos sociales del ajuste social discount rate; social rate of discount tasa de actualizaci6n social social forestry plantacion de bosques comunitarios Forestry used for community use as opposed to private sector forestry. social impact assessment - SIA evaluacion de los efectos sociales A kind of ex ante evaluation of a project, where a sociologist examines a development project prepared by a group of other experts and is asked to make an assessment about whether or not it will have positive or adverse social repercussions.

social price precio social The price that reflects the value to the country of inputs and outputs and takes into consideration "non~fficiency" but socially important goals such as reduction of consumption of alcohol, tobacco and fancy cars or expanded production of goods to meet basic needs, etc. social pricing fijacion, determinacion, cileulo de precios sociales A method of economic analysis which takes into account savings and consumption. social rate of discount; social discount rate tasa de actualizacion social

social infrastructure; community facilities infraestmctura social; instalaciones comunitarias

social rate of return - SRR tasa de rentabilidad social The economic rate of return in social prices. Social prices are shadow prices which incorporate social factors such as scarcity of savings, income inequality and poverty.

social insurance seguro, prevision social; seguridad social

social returns [projects1 beneficios sociales

social marketing program [population] programa de ventas subvencionadas A program of sales of goods with reduced prices for special groups.

social safety net

social net present value - SNPV valor social neto actual, actualizado The net present value of a project after incremental income flows generated by the project

red de seguridad social; medidas de protecci6n social social security benefits prestaciones de (la) seguridad social

202 social security fund fondo, caja de seguridad social social security scheme plan, sistema de seguridad social social shadow wage rate - SSWR salario de cuenta social Shadow wage rate (= shadow price for labor, generally set by estimating the marginal value product of labor) in social prices. social time preference rate tasa de preferencia social en el tiempo A rate, usually expressed in the form of a percentage. that expresses the preference of a society as a whole for present returns rather than future returns and that sometimes is proposed as a discount rate for project analysis. social wants necesidades sociales social welfare bienestar, asistencia social social welfare function funcion de bienestar social socioeconomic status - SES situacion socioeconomica; condiciones socioeconomicas soft component [projects] componente no fisico, de senicios soft currency moneda debit A currency with a falling exchange rate due to continuing balance of payments deficits. soft loan prestamo en condiciones concesionarias, blando, liberal A loan with no rate of interest or a rate of interest below the cost of the capital being lent. soft loan affiliate institucion afiliada que otorga el financiamiento en condiciones concesionarias

soft loan window senicio, ventanilla para prestamos concesionarios soft project proyecto de caracter social A project of a social nature. soft technical assistance see institution-related technical assistance software componentes logicos; programas; instrucciones; elementos no fisicos softwood forest bosque de coniferas soil conservation conservacion del suelo soil study, survey estudio de suelos, edafologico sole cropping; monoculture monocultivo Cultivation of a single crop as wheat or cotton to the exclusion of other possible uses of the land. sole source procurement adquisicion de un solo proveedor Procurement from a single vendor, without benefit of competitive bidding. solids-free sewerage see effluent sewerage solid state technology tecnologia de estado solido, de semiconductores, de transistores sound loan prestamo sOlido, seguro sour gas discharge descarga de gases acid os, ricos en productos azufrados source and use of funds statement see statement of changes in financial position

203 sources and application of funds statement see statement of changes in financial position

special budget; extraordinary budget presupuesto extraordinario

sourcing; outsourcing contratacion de uno 0 varios servicios, adquisicion de bienes, etc., fuera de la empresa, etc. The process whereby an institution, corporation, etc. has an entire service carried out by an external company or purchases its entire needs in a specific area from an outside company.

Special Joint Financing financiamiento conjunto especial Special financing made by several countries (Germany, Japan, Switzerland and the United Kingdom initially) in addition to contributions made directly to the Special Facility for Sub-Saharan Africa using arrangements negotiated directly between IDA and the contributors to be used in countries meeting the eligibility requirements of the Facility with repayment terms at least equivalent to IDA terms and with procurement open at least to those countries under the Facility.

Southern Cone ConoSur sovereign act doctrine acto de gobiemo Legal theory according to which the courts of one country should abstain from passing judgment about the legality of a sovereign act by a foreign state. sovereign credit, loan credito garantizado por el Estado A borrowing guaranteed by the state. sovereign creditor Estado acreedor sovereign risk riesgo soberano; riesgo que plantea el Estado prestatario The risk of changes in a borrowing country's overall foreign exchange position, which might affect its ability to repay a loan. sovereign risk loan prestamo que entrai'ia un riesgo soberano Loan to a State or loan where the State takes the responsibility for the loan. spate irrigation see flood irrigation Spearman's rank correlation coefficient coeficiente de correlacion por rangos de Spearman A measure of the degree to which two variables are associated with each other, not necessarily in value but in rank. The coefficient will be between +1 (high association) and -1.

special majority mayo ria especial special operational emphasis - SOE campo de atencion especial de las operaciones Concept introduced in FY88 which provided for attention to be focused on priority development objectives. Currently includes such areas as the environment, debt and adjustment, poverty reduction, food security and private sector development. Special Reserve [World Bank] reserva especial A reserve set aside by the Bank to meet liabilities such as defaulting loans, liabilities on borrowings or guarantees, contractual payments of interest, other charges or amortization on the Bank's own borrowings or similar payments on loans guaranteed by the Bank. specialized agency [UN] organismo especializado specific (customs) duty derecbo (aduanero) especifico specific investment loan - SIL [ffiRD] prestamo para una inversion especifica World Bank loan for a specific investment project. specific petformance ejecucion de un contrato seg6n sus terminos

204 specimen of signature see authenticated specimen of signature spending ministIy ministerio que efectUa gastos; ministerio de ejecucion spillover effect, impact; spinoff effect efecto secundario, derivado An effect that occurs when an economic unit not directly involved benefits from a transaction, project, etc. spillover exports exportaciones de excedentes del mercado intemo Goods nonnally consumed by the domestic market but available for export because of low domestic demand. spillway chute; tailrace canal de descarga spinning reserve [electricity] capacidad de reserva inmediatamente disponible That reserve generating capacity connected to the bus and ready to take load. spinoff [financial market] cesion, transferencia de adivos (de una sociedad) a cambio de acciones (de otra sociedad nueva) The transfer by a corporation of a portion of its assets to a newly formed corporation in exchange for the latter's capital stock, which is thereupon distributed as a dividend to the stockholders of the first corporation. spinoff effect; spillover effect, impact efedo secundario, derivado An effect that occurs when an economic unit not directly involved benefits from a transaction, project, etc. splicing empalme; enlace Linking different series of data based on slightly different definitions into a single series.

split degree titulo otorgado por dos universidades Higher education degree split between a local university and top-rated international university or other educational institution. sponsor patrocinador; promotor spontaneous lending see voluntary lending spot exchange rate tipo de cambio al contado The exchange rate prevailing under a spot contract, i.e. delivery in one or two business days or less. spot improvement, patching; road, surface patching; patching [highways] bacheo; reparacion de baches spot market; cash market [foreign exchange] mercado aI contado Foreign exchange market where currency is sold for immediate delivery. See futures market. spot market [commodities] mercado de productos disponibles, de entrega inmediata Market where goods are sold for cash, for immediate delivery. spot patching, improvement; road, surface patching; patching [highways] bacheo, reparacion de baches spot price precio al contado, para entrega inmediata The price of a commodity available for immediate sale and delivery, the commodity being referred to as a "spot" commodity. spot quotation cotizacion aI contado spotted cotton algodon manchado Cotton that has been changed in color to a brown, or yellow cast by unfavorable weather, wet bolls, stems, leaves or rainstorms. The spots affect the grading.

ecru

205 spray irrigation riego por aspersi6n Sprinkling water over land to be used for crops. Often used to dispose of wastewater from sewage treatment plants. spraying see knapsack spraying spread (e.g. between borrowing cost and lending rates) margen (p.ej., entre el costo de los emprestitos y el interes sobre los prestamos) Difference between rate at which bank borrows money and rate at which it onlends funds to its customers. spread (between spot and forward quotations) margen (entre las cotizaciones aI contado y a termino) spread of spreads diferencia entre los margenes spreadsheet planUla de calculo electronica; boja electr6nica de calculo sprinkle irrigation riego por aspersion A method of irrigation in which water (under adequate pressure) is sprinkled over the land through nozzle lines, perforated pipes or sprinklers.

stabilization fund fondo de estabilizaci6n stabilizers see built-in stabilizers staff personal; funcionarios [see also counterpart staff; field staff; fixed term staff; higher level staff; line staff; overstaffed; Principles of Staff Employment; supervisory staff; support staff] staff, to dotar de personal staff appraisal report· SAR informe de evaluaci6n inicial preparado por el personal staff assistant auxiliar especial staff audit evaluacion de funciones directivas Check by Personnel on staff management functions, e.g. performance reviews to see that they are being carried out properly. staff department departamento de servicio, de asesoramiento staff development perieccionamiento del personal

squat, to ocupar terrenos i1egalmente, sin tener derecbo

staff house a1ojamiento para el personal

squatter ocupante sin titulo, i1egal, precario

staff-month mes-funcionario

squatter area, settlement zona de ocupantes ilegales, sin titulo

staff rule 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] STABEX (Sistema de estabilizaci6n de los ingresos de exportaci6n de los Estados ACP y

PTUM)

staffing dotacion de personal

206 staffing ratio relacion personal-poblacion; coeficiente de ocupacion de cargos [administracion de personal] staffyear equivalent - SYE equivalente en au os-personal stagflation estanflacion stagnation (of the economy) estancamiento stakeholders partes interesadas; interesados stall feeding engorde en establo stand [forest] rodal stand-alone project proyecto independiente standard charge section seccion estandar (del presupuesto) The basis of the Bank's budgetary system, it comprises five basic attributes of all administrative expenditures (managing unit, source of funds, expense category (type of goods or services), task All category (Bank function) and product. administrative commitments and expenditures are related to the standard charge section. standard conversion factor - SCF factor de conversion estandar A number, usually less than 1 that can be multiplied by the domestic market price, opportunity cost, or value in use of a nontraded item to convert it to an equivalent border price that reflects the effect of trade distortions on domestic prices of that good or service. A standard conversion factor is the reciprocal of 1 plus the foreign exchange premium stated in decimal form. 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

standard deduction [taxation] deduccion estandar standard deviation desviacion estandar A commonly used measure of the degree to which a variable is dispersed around its mean value. Standard International Trade Classification - SITC Clasificacion Unifonne para el Comercio Internacional- CUCI standard of living niver de vida standard rate (of interest) tipo, tasa (de interes) vigente standard recovery recuperacion estandar Recovery of currency used in lending operations subject to maintenance of value. Recovery takes place on the first recall date of the Bank's fiscal year following the ninth anniversary of the disbursement of the currency by the Bank and every ten years thereafter. standard values [trade] valores nonnales, corrientes, estandar standardized occupational streams perfiles ocupacionales nonnalizados standby agreement [IFC] acuerdo de compromiso contingente standby amount of guarantee monto de la garantia contingente The amount of guarantee provided under standby coverage. Cf. maximum amount of guarantee. standby arrangement [IMF] acuerdo de derecho de giro standby commitment [IFC] operacion de compromiso de compra

207 standby coverage [MIGA] cobertura contingente An option to obtain coverage for additional contributions to the investment project. Under MIGA rules, this standby coverage may not exceed fifty percent of the initial amount of the guarantee and shall in no case exceed one hundred percent. standby equity [investment] compromiso contingente de participacion en el capital social In investment an agreement that is conditional on stock purchase. standby loan prestamo contingente Loan which is not part of the current schedule but which can be presented to the Board if other projects slip. standby (lending) program [IBRD] programa (de financiamiento) de reserva Lending operations that are under preparation and are likely to be ready for the fiscal year following the fiscal year in question but may be ready sooner and which could substitute for projects in the fiscal year in question. standby premium [MIGA] prima contingente Additional premium charged coverage.

standstill agreement acuerdo de mantenimiento de la situacion existente staple (food) alimento basico staple (food crop) cultivo alimentario basico staple (good) articulo basico starchy root crop tuberculo feculento, raiz feculenta start-up cost costo de puesta en marcba State eligible to sign (the Convention) [ICSID] Estado que puede adberirse statement declaracion; intervencion; exposicion [see also financial statement; income statement; summary statement] statement of account estado de cuenta; extracto de cuenta

for

standby

standby underwriting commitment [IFC] compromiso contingente de garantia de suscripcion standing, financial see creditworthiness standing instructions, orders instrucciones permanentes standpipe; standpost; hydrant toma de agua standstill statu quo In GATT, means no new trade restrictions inconsistent with GATT, no new trade restrictions which go further than necessary to remedy specific situations provided for in GATT and no trade measures taken to improve negotiating positions.

statement of changes in financial position; sources and application of funds statement; funds statement; working capital statement; source and use of funds statement; funds flow statement; changes in working capital statement; statement of sources and applications of funds; statement of cash flows [World Bank] estado de flujo de fondos; estado de fuentes y utilizacion de fondos A statement used in conventional accounting which summarizes the financing and investing activities of an entity, including the extent to which the enterprise has generated funds from operations during the period and for completing the disclosure of changes in financial position during the period. The first English term is the one recommended by the U.S. Accounting Principles Board (APB) since 1971; the second and last terms are the ones found most frequently in the World Bank and IFC; and the third is the most common one used in the U. S. prior to the APB recommendation. The other terms are also found.

208 statement of condition [IDA] estado de situacion financiera A statement of IDA's financial situation.

Lending position whereby the total amount disbursed and outstanding equals the sum of the annual amounts disbursed and outstanding.

statement of expenditure - SOE declaracion, estado, relacion de gastos

steam coal carbOn de alto poder calorifico; carbOn termico Coal intermediate in rank between bituminous coal and anthracite. Typical steam coals have a carbon/hydrogen ratio of about 20% (more = anthracite less = bituminous coals). Some steam coals are used for smelting and coke making while others are specifically suitable for steam generation.

statement of sources and applications of funds see statement of changes in financial position state-owned enterprise - SOE empresa estatal state-trading countries paises de comercio estatal static efficiency eficiencia estatica The efficiency with which current outputs are produced. Static Life Index [commodities] indice estatico de las reservas (aiios) Index in years of reserves of a commodity assuming no growth in rate of production. status estado; situacion; categoria; condicion social status report; progress report informe sobre la marcha (de un proyecto), sobre la labor realizada, sobre las actividades statutory body organismo de derecho publico statutory ceiling limite estatutario, legal, reglamentario statutory lending limit - SLL limite estatutario de los prestamos The maximum amount of total outstanding guarantees, participations in loans and direct loans, equal to one hundred percent of the unimpaired subscribed capital, reserves and surplus of the Bank. stay of enforcement [ICSID] suspension de la ejecucion (dellaudo) steady state lending nivel estable de prestamos

steam plant central de vapor steelmaking see open-hearth steelmaking steepness (of a curve) grado de inclinacion; pendiente (de una curva) stemming-from benefit beneficio derivado indirecto A form of indirect benefit that accrues to purchasers of project outputs that are themselves intermediate products. The direct and indirect value added generated in forward-linked industries. For example, cotton that is produced by an agricultural project and that would be used in existing cotton gins having unused production capacity might allow those gins to create additional value added that would not exist without the project. Stemming-from benefits sometimes are calculated using specialized inputoutput multipliers. Would not normally exist where project outputs are traded, since the same stemming-from benefits could be had by increasing imports of the intermediate product or by diverting exports to local use. step-down power station estacion reductora Power station where the outgoing power from the transformers is at a lower voltage than the incoming power. step-down, step-up interest rates tasas de interes crecientes Interest rates which are below market rates in the early period of the loan and above market rate in the latter part of the loan.

209

stepped tariff structure estnu:tura tarifaria escalonada step-up power station estacion elevadora stock see capital stock; closing stock; common stock; corporate stocks; outstanding stocks; paidup stock; preferred stock; publicly traded stock; registered stock; share; volatile stock; voting stock stock accounting; stores accounting contabilidad de existencias stock carrying capacity [livestock] capacidad de carga stock corporation sociedad anonima stock dilution, watering; dilution dilucion del capital (accionario) The lessening of an ownership share's earnings and assets equity, caused by the issue of more ownership shares without corresponding increases in earnings and assets. stock dividend dividendo en acciones stock exchange transaction operacion bursatil

slants to these terms in certain circumstances, so they may, on occasion, have slightly different meanings. stocking rate [livestoc.k] tasa, densidad de carga; carga ganadera The relative number of livestock per unit area for a specific time. stockpiling acumulacion de existencias stop and go growth crecimiento intermitente stopgap measure medida temporal, de transicion; recurso provisional stop-go, stop and go policy alternaneia rapida (de medidas) de expansion y contraccion; politic a de avance intermitente Action on the part of the government to curtail aggregate demand due to, for example, a balance of payments deficit, soon followed by action with the opposite effect to ameliorate the rise in unemployment caused by the first action. storage dam presa, represa de almacenamiento

stock ownership cartera de acciones

store-of-value reserva de valor One of the functions of money in that it stores wealth or value. An individual can sell a good or a service and store the money until he needs something and can then use the money to purchase what he needs.

stock rights [IFC] derecbos de suscripcion

stores accounting; stock accounting contabilidad de existencias

stock watering see stock dilution

storm water drainage system drenaje de aguas lIuvias, pluviales

stock option opcion de compra de acciones

stock watering [livestock] abrevado [ganado] stockholders' equity; shareholders' equity; owners' equity; equity; net worth patrimonio; patrimonio neto; activo neto The value of assets less liabilities of a corporation. All the terms given here are generally synonymous, but accountants tend to give different

straight bond bono clasico, ordinario Bond with unquestioned right to repayment of principal at a specified future date, unquestioned right to fixed interest payments on stated dates, and no right to any additional interest, principal, or conversion privilege.

210 straight-line depreciation; depreciation on a straight line amortizacion (depredacion) lineal, constante, de cuotas fijas Assignment of the service cost of any item to the benefits to be yielded by the item. In practice, a period charge for depreciation is usually substituted for a more exact measurement of benefits yielded.

strip irrigation see border check irrigation strip mining; open pit, open cast, open cut mining explotacion a cielo abierto, a tajo abierto [Chile] strip of maturities porcion de cada uno de los vencimientos de un prestamo A time portion of each of the maturities of a multi-maturity loan.

strategic investors inversionistas que se estimen adecuados, apropiados; inversionistas estrategicos Major investors who have a significant equity investment in a company and, by virtue of their specialized knowledge, play an active role in the management of the company.

strip participation participacion en cada uno de los vencimientos (de un prestamo) Participation in each of the maturities of a multimaturity loan.

stratospheric ozone ozono estratosferico

strip planting plantacion en franjas

stream, to go on entrar en produccion; iniciar (sus) actividades

stripping see asset stripping

streamed school escuela organizada por secciooes streamlined project procedure procedimiento simplificado (para proyectos...) A procedure adopted by IFC for more rapid review of investment projects. Projects must be for less than $25 million in loans or $10 million in equity, have no novel features and must be to countries in which IFC has invested in the last five years. streamlining agilizacion; simplificacion; racionalizacion streams of costs and benefits comentes, f1ujos de costos y beneficios strength charge cargo (apUcado) segUn la concentracion de los contaminantes Charge levied for water pollution. based on concentration of pollutants in the water, rather than on volume of wastewater discharged. Cf. volumetric charge. strip check irrigation see border check irrigation strip cropping see alley cropping

stripping ratio [mining] relacion de desmonte Unit amount of spoil or waste that must be removed to gain access to a similar unit amount of ore or mineral material. strong currency; hard currency moneda fuerte Structural Adjustment Facility (SAP) within the Special Disbursement Account [IMP] servicio financiero de ajuste estructural (SAE) dentro del marco de la Cuenta Especial de Desembolso Facility created by the International Monetary Fund in March 1986 to provide balance of payments assistance on concessional terms to low income developing countries. The resources will consist of assets received in the Special Disbursement Account as a result of the termination of the Trust Fund. structural adjustment lending - SAL prestamos para (fines de) ajuste estructural structural unemployment desempleo estructural

211 structural work estl1lctura; obra gl1lesa structured financing financiamiento estl1lcturado Financing using stl1lctured securities. structured security titulo, valor hibrido, estl1lcturado Security that is a combination of derivatives and standard cash securities, with its reimbursement and risk terms structured according to the client's needs.

subborrower subprestatario A smaller loan which is a part of a larger loan, often one provided for onlending. subcontract subcontrato subcontractor subcontratista subgrade [highways] subrasante

stubble mulch farming abonado con rastrojo

subirrigation; subsoil irrigation riego subterraneo

student flow movimiento, flujo de estudiantes, alumnos

subject matter [education] materia; asignatura

student placement orientacion

subject matter specialist - SMS [agricultural extension] tecnico especializado

student-teacher ratio - S1R; pupil-teacher ratio PTR; teacher-pupil ratio relacion, coeficiente profesor-alumnos; alumnos por profesor

subloan subprestamo A loan that has been onlent.

stumpage fee canon, derecho por pie

submerged bridge vado pavimentado; baden

stumpage price precio por pie

submerged economy see parallel economy subordinated debt see junior debt

stunting; nutritional dwarfing enanismo nutricional; cortedad de talla; crecimiento insuficiente Being smaller than the standard height based on a height-for-age formula, as developed by WHO. Below minus two standard deviations from median weight for height for age of reference population. stylized fact hecho estilizado, de oeurrencia frecuente; generalizacion A generalization about economic trends extrapolated from data or an individual or group of individual countries.

subordinated loan prestamo subordinado A loan where repayment is made subject to other conditions being met, normally repayment of other loans which are deemed to be "senior" (often because they are secured). subordinate lender prestamista subordinado Lender holding a subordinated loan. subordination fee cargo por subordinacion A fee IFe receives because its debt is subordinated to other debts.

212 subproject subproyecto subscriber trunk dialing - sm selection automatica intenlrbana subsidiarity subsidiariedad; complementariedad Principle according to which the higher levels of government should be as limited as possible and should be subsidiaI)' to those of lower levels. subsidiaI)' account cuenta subsidiaria, aunliar An account maintained in a separate record and controlled by an account in the general ledger. SubsidiaI)' Agreement [IBRO] convenio de pristamo subsidiario subsidiaI)' loan pristamo subsidiario subsistence allowance dieta; viatico subsistence economy economia de subsistencia subsistence farming agricultura de subsistencia subsoil irigation; subirrigation riego 8ubterraneo substantive law dereeho sustantivo, de fondo The major part of any legal system, concerned with the legal rights attributed to and legal duties imposed on particular legal persons in particular circumstances. Includes both primaI)' or antecedent rights. substitution effect efecto de sustitucion The effect on the demand for a good of a change in price of that good assuming real income is held constant. subtractability posibilidad de extraccion

How much one user's consumption of a good or service subtracts from the ability of others to consume the good or service. subtransmission line; secondary transmission line linea de subtransmision, de transmision secundaria Transmission line in a subtransmission system, i.e. one which supplies distribution substations from bulk power sources, such as large transmission substations or genemting stations. subunderwriter [IFC] subgarante [CFI) success fee comision por captacion de fondos Fee paid that is proportional to amount of funds obtained. successful bidder licit ante cuya oferta ha sido aceptada; adjudicatario; licitante favorecido summaty account cuenta de resumen; cuenta de cierre

summaI)' of project information sintesis informativa sobre un (el) proyeeto SummaI)' Proceedings Aetas Resumidas summaI)' statement estado resumido sundty assets

activos varios sundty cash accounts cuentas diversas de caja sundty liabilities pasivos varios

sunk cost costo no recurrente de capital, no reeuperable A cost incurred in the past that cannot be retrieved as a residual value from an earlier investment. sunset clause chiusuJa con fecha de expiracion

213 superannuation Jubilacion superintendency (of banks) superintendencia bancaria, de bancos supetvision mission million de supervision supervisory grades niveles, categorias de supervision; niveles medios supetvisorystaff personal de supervision supplemental letter, side letter carta complementaria Supplemental Reserve against Losses on Loans and from Currency Devaluations (Supplemental Reserve) Resenra Suplementaria para perdidas en prestamos y por devaluaciones de monedas (Kellenra Suplementaria) A reserve established by the Bank in 1950, into which the Bank maintained a policy of automatically allocating all of its net income until FY64. It was renamed General Resenre in FY76. supplementary contributions [IDA] aportaeiones suplementarias supplier industry industria auxiliar, abastecedora supplier credit; supplier's credit credito de proveedores Export finance made available to the supplier of the goods (as distinct from credits to the overseas buyer under buyer's credits». supply curve cunra de la ofem A graphical representation of the relationship between the supply of a commodity and its price (usually with price on the vertical axis and quantity supplied measured along the horizontal axis). The positive relationship between these two variables is reflected by the fact that the supply curve slopes upwards from left to right.

supply line; setvice; setvice line; connection [electricity] conexion de servicio supply management regulaeion de la ofem supply·push factors factores de rechazo (dellugar de origen) relacionados con la oferta Factors that encourage migrants to leave their own country. supply side economics economia de la oferta, basada en la oferta Economic policies and actions that will have long·term benefits even though they may be contractionary in the short-term. Supports the theory that money injected anywhere into the financial system expands the entire economy. supply side politics politica favorable a la economia de la oferta Political point of view favoring supply side economics. supply system; delivery system sistema de prestacion, de suministro (de un servieio); sistema, red de distribucion, de reparto support department [IBRD] departamento de (servicios de) apoyo support price preeio de sosten, de apoyo, de sustentacion surface course; wearing course [highways] capa superficial, de rodadura surface dressing [highways] sellado superficial, de superficie; tratamiento superficial surface irrigation riego superficial, de superficie surface, road patching; spot improvement. patching; patching [highways] bacheo; reparacion de bacbes

214 surfacing [highways] revestimiento [see also resurfacing] surplus country pais superavitario surplus dividend dividendo extraordinario Dividend paid over and above statutorily required dividend. surplus on invisibles supedvit de las transacciones invisibles surrogate market mercado sustitutivo Similar markets to the target market that can be used for study purposes. For example, in assessing environmental damage, the property value of the target and similar, surrogate markets can be assessed to determine how much property values have been reduced as a result of environmental degradation. survey estudio; encuesta; levantamiento topogrMico [see also reconnaissance survey; soil survey) survey mission mision de estudio survey of resources inventario de recursos survival rate [education) tasa de supervivencia escolar The percentage of pupils enrolled in the first grade who reach subsequent grades. suspended matter solidos en suspension suspended particulate matter" SPM partieulas en suspension Particulate matter suspended in a fluid. suspense account euenta transitoria A temporaty account for funds which have not yet been identified.

sustainability continuidad; mantenimiento; sostenibiIidad sustainable development desarrollo sostenible Economic growth conducted in an environment" ally responsible manner. sustainable forestry silvicultura sostenible; ordenacion forestal sostenible Forestry which aims at replacing trees that have been cut down. sustainable level of lending " SLL nivel sostenible de prestamos sustainable net national product - SNNP producto nacional neto sostenible - PNNS A measure of a country's economic perfonnance, it differs from GNP and GDP in that investments to maintain the integrity of the environment are excluded from the computation as is income generated from harvesting a resource stock over and beyond its capacity to be replenished. It therefore differs from GNP in that it can be used to demonstrate to poJicymakers the monetaI)' value (loss) associated with policies that allow unsustainable use of a country's resources. sustained growth crecimiento (economico) sostenido swap swap; intercambio de monedas; crMito reciproco [FMI]; operaciones de pase [Argentina] A spot purchase of foreign exchange (currency swaps), fixed or floating rate funds (interest rate swaps) or assets (asset swaps) with simultaneous forward sale or vice versa. Pase financiero is an Argentinian system, related to the swap system, whereby persons or institutions making capital investments are given an "exchange guarantee," which guarantees that the funds can be reexchanged at a predetermined exchange rate on a specific date. [see also currency swap; debt~quity swap; debt" for-health swaps; Global Swap Authority; interest (rate) swap]

215 swap, to [finance] efectuar una operacion de swap, de intercambio de monedas, de crMito reciproco To carry out a swap transaction. swap market Mercado de swaps [see also currency swap; interest (rate) swap] sweat equity aportacion en manu de obra propia A share or interest in a building obtained as a result of contributing labor to its construction and/or maintenance. swing producer productor compensador, de compensacion In oil production, a countl}' that varies its production to ensure that a previously agreed cartel price remains fixed. In practice, OPEC uses Saudi Arabia as the swing producer to keep a certain fixed price. swing space oficinas provisionales Temporal}' space used to provide office space for staff whose current offices are being remodeled or demolished but for whom new office space is not yet available. switching equipment [telephone] equipo de conmutacion switching policies poUticas de reasignaci6n de recursos switching value [sensitivity analysis] valor critico The value that reverses the ranking of two alternative 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.

syndicate [banking] consorcio (bancario, de financiamiento) A group of bankers and/or brokers who underwrite and distnbute a new issue of securities or a large block of an outstanding issue. By extension, can also refer to a group of banks or securities firms who are involved in a Eurocredit or Eurobond issue. syndicate a loan, to concertar un prestamo a traves de un consorcio (bancario, de financiamiento) To arrange for a loan using a syndicate. syndicated loan prestamo de un consorcio, concedido por un consorcio Loan made by a syndicate. synfuel; synthetic fuel combustible sintetico Sysmin (= Special financing facility for ACP and OCT mining products) [European Communities] Sysmin (Servicio especial de financiamiento para productos mineros de los paises ACP y PTUM) system load factor [electricity] coeficiente de carga de la red Systemic Transformation Facility [IMF] servicio para la transformacion sistemica Temporal}' facility to help member countries facing balance of payment difficulties.

216

-T-

take-up problems (of means-tested pension plans) problemas de cobertura efectiva, de incorporacion al plan, de participacion en el plan

tailing pond deposito de decantacion de residuos Pond containing waste matter from metal ore extraction.

tangible assets, property bienes materiales, tangibles, corporeos Material property that can be seen and touched as opposed to intangible property such as a patent.

tailrace; spillway chute [hydroelectricity] canal de descarga

tanker buque cisterna; buque tanque; camion cisterna; camion tanque

take a straight equity position, to (hacer) inversiones en acciones comunes Investment in a standard, low-risk security. take-and-pay contract contrato de compra contra entrega A guarantee to buY an agreed amount of a product or service provided it is delivered. take-home pay salario neto; remuneracion neta taken over by absorbido(a) por take-off arranque; despegue; impulso [see also power take-oft] take-or-pay agreement, contract acuerdo, contrato firme de compra (sin derecbo de rescision) An unconditional guarantee to buy an agreed amount of a product or service whether or not it is delivered. take-out agreement; buy-back agreement acuerdo de recompra takeover bid oferta publica de compra - OPT An offer to acquire a controlling interest in a corporation. take over, to hacerse cargo; absorber; asumir

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. target, to orientar a grupos especificos; usar un enfoque selectivo; etc. target contract contrato sobre la base de un presupuesto meta target group grupo beneficiario; grupo objeto de ••• ; grupo escogido (como meta); grupo previsto target price precio indicativo target zone; reference zone zona de referencia A wide zone of exchange rates, perhaps plus or minus 10 per cent, within which a currency can freely move against other currencies. Suggested at the New York Plaza Agreement at the Group of Five meeting, 9/85 and proposed by the French Treasury 2/86, as a way to reduce major currency swings. targeted beneficiaries beneficiarios design ados, escogidos, especificos, seleccionados

217 targeted grant see categorical grant targeted interventions intervenciones dirigidas targeted programs programas focalizados, dirigidos a grupos especificos targeting focalizaci6n tariff arancel; derecbo arancelario; derecbo de aduana, de importacion; tarifa [ see also also lifeline tarifl] tariff barriers barreras arancelarias tariff escalation progresividad arancelaria; escalada, a1za de tarifas tariff item partida arancelaria tariff jumping elusion del pago de aranceles (mediante el establecimiento de una empresa en el pais) tariff line rengl6n arancelario The most disaggregated level of classification of international trade flows. It is the production level where the tariff is applied. tariff negotiations, round negociaciones arancelarias, sobre aranceles tariff peak cresta arancelaria

tariff position partida arancelaria tariff privatization control empresarial del arancel Situation where the main domestic producer in a 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

controlling the volume of imports. All the revenue thus obtained accrues the producer instead of the government (in the form of tariffs). tariff quota cuota arancelaria; cupo, contingente arancelario Specified volume (quota) of imports ofa good for a given period defining the application of different rates of duty (tariffs), the lower are applying until the specified volume is reached, the higher rate thereafter. tariff rates tasas, derecbos arancelarios tariff round, negotiations negociaciones arancelarias, sobre aranceles

tariff schedule arancel; tarifa [precios] tariff wedges diferencias arancelarias Difference between the tariff at a particular stage of processing and at the preceding stage. tariffication conversion en arancel The conversion of quotas or other non tariff barriers to tariffs. tar sands arenas impregnadas de brea; arenas asfMticas task force grupo de estudio; grupo de trabajo tax see also benefit taxes; betterment levy, tax; border taxes; business (profit) tax; capital gains tax; cascade tax; corporate tax; delinquent taxes; destination tax; earmarked tax; end use tax; foreign tax credit; income tax; inflation tax; interest equalization tax; investment tax credit; land betterment tax; land tax; multiple stage tax; net of taxes; origin tax; pay-as-you-earn; payroll tax; poll tax; presumptive taxation; profits tax; sales tax; schedular tax; shifting of tax; turnover tax; value-added tax; withholding tax

218 tax allowance exencion tributaria; desgravacion; deduccion Amount deducted from gross income to arrive at taxable income. tax amnesty amnistia tributaria tax arbitrage arbitraje impositivo tax assessment; assessment for tax avaloo, tasacion para fines impositivos; estimacion de la base impositiva tax audit auditoria impositiva, tributaria tax avoidance evitacion, elusion, evasion legal de impuestos The. legal minimization of taxes due government by application of tax planning devices. tax base base imponible The amount that forms the basis for calculating a taxpayers' liability. In income tax it is a person's earnings while in property tax, the value of the property. tax bill, demand Iiquidacion, notificacion de impuestos A document sent to a taxpayer, telling himlher how much s/he owes in taxes. tax bracket grupo, nivel, tramo impositivo tax buoyancy elasticidad tributaria global Total elasticity of the tax system (built-in elasticity plus elasticity due to discretionary changes in the tax system). Measured by the annual mean growth in receipts divided by the annual mean growth in gross domestic product (GDP). 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.

tax clearance certificado de pago de impuestos tax credit descuento, credito impositivo, tributario A 100% offset against tax liability. tax deduction deduccion tributaria, de impuestos An expenditure that may legally be deducted from taxable income by taxpayers tax deferral aplazamiento, diferimiento impositivo; moratoria tax demand, bill liquidacion, notificacion de impuestos tax effort esfuerzo tributario The total amount of tax due from a country, sector, enterprise, etc. tax elasticity elasticidad del impuesto tax evasion evasion (iJegal) tributaria, fiscal, de impuestos Avoidance of taxes by illegal means. tax exemption exeocion de impuestos A specific sum that a taxpayer may deduct from taxable income for him- or herself and for each dependent. Also refers to certain kinds of income not subject to tax such as social security payments, monies received by certain diplomats, etc. tax expenditures gastos fisc ales taxJGDP ratio relacion impuestos-PIB Ratio of tax receipts to gross domestic product.

219 tax bandies

sujeros (potenciaies) del impuesto The means by which the tax authorities can raise (or lower) revenues through taxation. For example, in an economy where income is typically derived from self-employment and the wage income that does exist is from small establishments, the government has only a limited tax handle on income compared with a modem economy where earned income is largely in the form of wages and salaries from large organizations.

tax-paying capacity capacidad tributaria tax performance ratio

relacion, coeficiente de recaudacion de impuestos tax ratio

relacion impuestos-ingresos; coeficiente tributario The ratio of income tax expense to net income before taxes.

tax haven

paralso tributario

tax rebate

A country which offers permanent tax incentives in order to attract multinational enterprises.

A partial refund to taxpayers of taxes already paid.

tax holiday

tax refund

tregua tributaria; exoneracion temporal (parcial 0 total) de impuestos Tax relief or exemption granted temporarily, e.g. to encourage industrial development.

reembolso, devolucion, reintegro de impuestos

tax incentive incentivo tributario

tax incidence analysis

analisis de la incidencia fiscal Analysis of the redistributive effects of taxation.

desgravadon tributaria; reduccion de impuestos

tax relief

desgravacion fiscal tax reference price [oil] precio de referenda para fines tributarios [petroleo] An arbitrary posted price for hydrocarbons utilized in a number of countries for the purpose of calculating taxes and other payments due the State from an operator.

tax liability

obligacion tributaria

tax return

tax loophole

declaracion de ingresos; declaracion de impuestos

escapatoria, Jaguna tributaria; resquicio tributario

tax sharing

participacion en los impuestos tax mitigation

atenuacion, reduccion de los impuestos

The practice of a state or central government levying a tax and sharing its proceeds with a local government.

tax net

sujetos, bienes y actividades imponibles

tax shelter

tax office

impuesto ai, sobre el valor agregado, anadidoIVA

Any of a number of investments which generate losses, usually due to noncash deductions such as depreciation or depletion, or due to accelerated payments which flow through to individual taxpayers and can be used to offset other income, thereby lowering the individual taxable income.

tax-paid cost - TPC

tax sparing

costo incluidos los impuestos

descuento del impuesto potencial

refugio tributario oficina, direccion, administracion de impuestos tax on value added; value added tax - VAT

220 tax surcharge recargo tributario; sobretasa tax technology teenicas de administracion tributaria The tools used to administrate tax policy, e.g. management information systems.

technical assistance loan - TAL prestamo para asistencia tecnica World Bank loan for technical assistance purposes. technical assistant funcionario de asistencia tecniea; asistente teenieo

tax wedge discrepancia impositiva The difference between wages or labor income and the same wages or income plus government taxes on them. It is called a wedge because it is like a wedge which the tax drives between the value of a worker to the firm and the amount received by the worker for working one more hour. A Bank document defined it as "the difference between a given (arbitrary) after-tax rate of return to an individual investor and the pre-tax real rate of return on investment that the firm would need to generate in order to fund the investment."

technical background formadon tccnica; preparadon tecnica

tax withholding retencion del impuesto

technical package conjunto de medidas practieas

tax write off deduccion tributaria (por perdida, etc.)

teething problems problemas initiales

tax yield reeaudacion tributaria

temperate hardwood forest bosque de especies frondosas

teacher-pupil ratio; pupil-teacher ratio - PTR; student-teacher ratio - STR relacion, coeficiente profesor-alumnos, alumnos por profesor

temporary assets activos transitorios

teacher's guide guia del maestro; libro del maestro; manual del instructor teacher's kit material pedagogico baisico

technical cooperation among developing countries -TCDC cooperation teeniea entre paises en desarrollo CTPD technical-efficiency index - TEl indice de eficiencia teenica technical note nota teeniea

temporary liabilities pasivos transitorios tender oferta; propuesta tender documents see bidding documents tenure see land tenure; security oftenure

teaching aids materiales didacticos; auxiliares de enseiianza teaching load earga docente Technical Advisory Committee - T AC [CGIAR] Comite Asesor Teenico - CAT

tenure [education] permanencia (en el cargo) term deposit deposito a plazo term financing financiamiento a mediano 0 largo plazo

221 tenn loan pftstamo a mediano 0 largo plazo

test plot lote, parcela de prueba

tenn sheet hoja de plazos y condiciones

thematic team grupo de expertos Team of technical specialists working in a specific area of the Bank's activities, which monitors Bankwide activities in a specific area, e.g. technical assistance.

tenninate terminar; dar por terminado; rescindir [nomhramiento] tennination terminacion; rescision; cese de funciones; despitio tennination grant indemnizacion por terminacion, rescision, cesc de funciones, despido tenns and conditions (of a contract) condiciones tenns ofreference [e.g. consultants] terminos de referencia; mandato tenns of reference [study] terminos de referencia, parametros (de un estudio) tenns of trade relacion, terminos de intercamhio A relationship between the prices of exports and the prices of imports. When the concept is not further qualified, reference is being made to the net barter terms of trade, which is the quotient between an index of export prices and an index of import prices. [see also barter terms of trade; double factorial tenns of trade; income terms of trade; single factorial terms of trade] tertiary (oil) recovery recuperacion terciana Enhanced recovery methods for the production of crude oil or natural gas. It requires a means for displacing oil from the reservoir rock, modifying the properties of the fluids in the reservoir and/or the reservoir rock to cause movement of crude oil in an efficient manner, and providing the energy and drive mechanism to force its flow to a production well. test check [accounting] verificacion de prueba

theory of public choice teoria de la eleccion social Study of the problems involved in decision-making by governments and the factors that influence their decision-making. thinktank grupo de expertos Third Window Tercera Ventanilla 33-Commodity Aggregate Price Index [IBRD] indice global de precios de JJ productos basicos threshold countries paises que se encuentran "en el umbral" Countries on the threshold between IDA and IBRD status or between IBRD and graduation status. threshold limit value - 1LV concentracion maxima admisible The maximum allowed amount of exposure to a given hazard in a given time frame. threshold price precio umbral through bill of lading conocimiento de embarque directo Bill of lading for cargo shipped between two specified ports plus inland portion of transit. throughput volumen de material elaborado [manufacturo]; numero de estudiantes que pasan por el sistema escolar [educacion] [see also berth throughput] through traffic tr8fico en transito; tr8fico directo

222 tied aid ayuda condicionada, vinculada

time-of-use (TOU) rates [electricity tariffs] tarifas segUn bora de consumo

tied currency moneda vinculada

time overrun demora respecto del plazo previsto

tied resources recursos reservados (para un determinado proyecto)

time pattern pauta cronologica; cronologia

tight credit policy politica de restriccion crediticia; politica crediticia restrictiva tightening of credit restricciones crediticias; contraccion del credito tight money dinero escaso, caro Contractionary monetary policy. In taking steps to decrease the rate of growth of the money supply, monetary authorities are said to be following a tight money policy. timber madera; madera en pie time-adjusted [project analysis] actualizado a partir del segundo aDo An accounting convention in which the first year of an investment analysis is used solely for investment and in which incremental benefits appear only from year 2 or later. time-based contract [consultants] contrato por tiempo A contract for consultants where payment is made according to time expended. time deposit deposito a plazo, a termino time frame marco temporal, cronologico

time series serle cronologica time sharing [computers] tiempo compartido; multipropiedad time sheet hoja de asistencia time-slice loan prestamo por etapas Loan where the lender only finances the loan a part of the time. time underrun adelanto respecto del plazo previsto time value of money valor temporal del dinero An expression referring to the concept that values received earlier are worth more than values received later. The concept underlying discounting. times interest earned ratio see interest coverage ratio - ICR tinged cotton algodon tintado A discolored cotton graded between spotted and stained cotton. tissue culture cultivo de tejidos

time lag desfase (cronologico); retraso; intervalo

titling (land) adjudication (de titulos de propiedad) de la tierra

time limit [ICSID] plazo

Tokyo Round Agreement Acuerdo de la Ronda de Tokio

223 tombstone anuncio de emision efectuada; esquela Advertisement which announces that a credit has been arranged or a bond issue made. ton of coal equivalent - tee tonelada de equivalente en carbOn - tee A common accounting unit used to define energy usage. Actual definitions differ. The European Communities, for example, define it as yielding 7 Gcal net calorific value while the United Kingdom defines it as the average gross calorific of all grades of coal and the UN as the gross calorific value. ton of oil equivalent - toe tonelada de equivalente en petroleo - tep A common accounting unit for energy usage. Definitions differ. OECD/IEA define it as having a net calorific value of 10 Gcal (= 41.9 GJ) while the United Kingdom defines it as the weighted average gross calorific value of all petroleum products. top-down (approach) [projects] vertical top dressing [agriculture] abono, estercoladura, fertilizante de superficie top-rated bank loan prestamo bancario de primera categoria top-up scheme; minimum pension guarantee plan de jubilacion minima System whereby the government brings up a pension to a specified minimum level. Toronto terms condiciones de Toronto Terms for debt relief (rescheduling for low-income countries) agreed upon at the Group of Seven meeting in Toronto in 1988. total dissolved solids - IDS total de solidos disueltos - tsd Total weight of dissolved mineral constituents in water per unit volume or weight of water in the sample.

total external debt - EDT deuda e:dema total total factor productivity - TFP productividad total de los facto res A measurement of changes in outputs per unit of all inputs combined. total fertility rate - TFR tasa de fecundidad total The average number of children that would be born live to a woman (or group of women) during her lifetime if she were to pass through her childbearing years conforming to the age-specific fertility rates of a given year. total loss cover cobertura contra perdida total Insurance against all losses. Total Return Index [IFC] indice de rendimiento total; indice de rentabilidad total Index devised by IFC to measure the US dollar return on developing country equity markets, taking into account both domestic price changes and exchange rate fluctuations. total suspended particulates - TSP total de particulas en suspension Any solid or liquid particles dispersed in the atmosphere, such as dust, pollen, ash, soot, metals and various chemicals. total suspended solids - TSS total de solidos en suspension The amount of particulate matter suspended in a water sample. tracer study [education] estudio de seguimiento de egresados A follow-up study of students after they have left school to see what they have become. tradable [adj.] comerciable; exportable 0 importable; comercializable

224 tradable [noun] bien comerciable, comercializable, exportable 0 importable A good that could be traded internationally in the absence of restrictive trade policies. Depending on national and world costs of production and transport, tradables may be importables, exportables or, in some cases, both.

trade-off compensacion (de factores, de ventajas y desventajas); ventaja relativa; solucion de compromiso; transaccion; concesion reciproca; disyuntiva; opcion; alternativa, etc.

tradable but nontraded (good, item); nontraded tradable bien comerciable no comerciado (etc.)

trade pattern estructura, modalidad del comercio

tradable emissions permit permiso negociable de contaminacion Permit to emit a specified quantity of a pollutant. Cf. emissions This permit may be traded. trading, bubble concept. trade adjustment ajuste del regimen comercial Adjustment of terms of trade, e.g. by reducing import tariffs. trade adjustment loan prestamo (para fines de) ajuste de la politica de comercio exterior Loan to assist a country in liberalization of its trade policy. trade balance; balance of trade; merchandise balance balanza comercial The difference in a given time period between a country's imports and exports of goods and services valued in current monetary units. trade coverage ratio proporcion de importaciones sujetas a barreras no arancelarias; tasa de importaciones afectadas The amount of imports affected by para-tariff, price and volume control measures expressed as a percentage of total imports of the same product group. trade cycle; business cycle cicio economico; coyuntura trade deficit deficit comercial

trade organization organizacion gremial, pat ronal

trade promotion fomento, promocion del comercio trade publication publicacion especializada para determinada industria, negocio 0 profesion trade receivables efectos de comercio por cobrar trade-related investment measures - TRIMS medidas en materia de inversiones relacionadas con el comercio traded goods bienes comerciados, comercializados, exportados 0 importados trading see block trading trading currency moneda de intercambio trading partners puses que mantienen relaciones comerciales trading portfolio cartera de inversiones a corto plazo Portfolio of short-term investments. Cf. investment portfolio. trading ticket [capital market] orden de compra; orden de venta Purchase/sales order for a security. traffic-bearing capacity; load-bearing capacity capacidad de trMico

225 traffic count cuenta, con teo, recuento de tratico

transfer payments pagos de transferencia

train see block train; unit trains

transfer price precio de transferencia Price between a corporation and its subsidiary or within a corporation (opposite of arm's lengtb price).

trainability [EDI-World Bank] susceptibilidad. posibilidad de capacitacion trainee persona que recibe adiestramiento; participante en un curso 0 programa de capacitacion; principiante trainer instructor training see advanced training; higher training; in-house training; in-service training; job-related training; mobile training unit; multimedia training module; on-the-job training; retail training; retraining; skill training center; vocational training; wholesale training training and visit [T & V] system sistema de capacitacion y visitas System of agricultural extension which involves training village-level workers so that they can, through contact farmers, pass on new agricultural techniques. training production unit unidad de capacitacion practica trammel fishing pesca con trasmallos Type of fishing using a set net, where the fish entangle themselves in net pockets, which are made by the pushing movement of the fish through the three - occasionally two - walls of the net. tranching [loans] reparticion en porciones, tramos Division of a loan (specifically adjustment loans) into several tranches. Release of tranches is conditional on specific agreed actions being carried out. transfer charge caIl; collect call; reverse charge call lIamada de cobro revertido

transformation curve; production possibility curve curva de transformacion; curva de posibilidades de produccion A graphic representation of the various output combinations of two commodities which can be produced from a given quantity of resources. transient climate change cambio climatico circunstancial The path of realized climate change which takes into account the lags in the climate system, as opposed to equilibrium cbange. translation (of currency) traduccion de monedas; conversion contable de monedas Recording in accounts of assets (or liabilities) in one currency when they are actually in another. No actual exchange of funds takes place. The World Bank and IFe, for example, translate all their assets and liabilities into U.S. doIlar amounts, regardless of the actual currency in which they are denominated. translation adjustment [accounting] ajuste de traduccion (de monedas) Adjustment in accounts to reflect movements in the rate of exchange between the currency of the accounts and the currency of the transaction. transparency diafanidad; transparencia [see also fiscal transparency] transterritorial; cross-border transnacional; transterritorial fronterizo; a veces: internacional trashy farming laboreo con abrigo vegetal Tillage which leaves the major portion of crop residues on the soil surface

226 trawl fishing pesca de arrastre

triage triaje; seleccion

Treasury bill pagare del Tesoro a corto plazo Bill issued by U.S. Treasury with short maturity (less than one year).

tribal peoples pueblos tribales; poblaciones indigenas

Treasury bond bono del Tesoro Long-term (more than ten years) fixed coupon paper issued by the Federal Reserve on behalf of the U.S. Treasury. Treasury note pagare del Tesoro A medium-term (normally from two to ten years) coupon security issued by the U.S. Treasury. treaty reinsurance reaseguro contractual Form of reinsurance, whereby an insurance company shares a large number of risks with other insurance companies. tree cotton; Ceylon cotton; Siam cotton; China cotton algodon arboreo tree crop cultivo arboreo tree farming arboricultura tree fodder forraje arbOreo

tree mining; forest mining extraccion excesiva de arboles Clear-felling of large wooded areas. tree tenure tenencia comunitaria de bosques Ownership of a wood, forest or other collection of trees, usually by a group. The term is used in social forestry. trend rate tasa tendencial

trickle-down effect efecto de (la) filtracion; cborreo The idea that stimulants applied to a lagging economy are best given to business to induce economic growth that will benefit citizens directly rather than being given directly to consumers to spur purchasing power. trickle irrigation see drip irrigation trigger clause chiusula de revision, de activacion Clause in mRO loan agreement requiring review after a certain number of years to determine whether changes in the country's economic condition warrant harder or softer loans. trigger date [IBRO) fecha de activacion Date on which a loan is placed in nonaccrual status. This is normally when service payments are overdue by more than six months. Trigger Price Mechanism - TPM [US] mecanismo de predos de intenrencion System set up by the US to prevent unfair competition for steel imports. Costs of production in the world's lowest cost producer, Japan, would be determined and publicly announced. These would be the trigger prices. 1fthe price charged for an import shipment were below the trigger price, the US Government would launch an antidumping investigation against the foreign supplier. Trinidad terms condiciones de Trinidad Terms for debt relief to replace the Toronto terms, proposed by the United Kingdom at a conference in Trinidad. They propose writing off $18 billion of the debt of the world's nineteen poorest countries (mainly Sub-Saharan African countries plus Bolivia and Guyana), extending repayment periods to 25 years and capitalizing interest.

227 triple superphosphate - TSP [fertilizer] superfosfato triple A commercial fertilizer which contains 2.5 to 3 times as much available phosphoric acid as superphosphate. The phosphate rock is treated with phosphoric acid and, in the manufacturing process, the gypsum is removed. tropical cattle unit - TeU; tropical animal unitTAU; tropical livestock unit - TLU unidad de ganado tropical A standard unit of measurement, equivalent to 250 kg, the weight of a standard cow, for calculating the impact of animals on the land. tropical rain forest bosque (humedo) tropical; selva (pluvial) tropical [see also rain forest] truCking industry industria del transporte por carretera true lease contrato de arrendamiento verdadero Lease where the lessee bas no right to a share of the proceeds of the sale of the leased asset to third parties at the end of the non-<.:ancelable lease period and no bargain renewal option. true to type variety; pure variety [agriculture] variedad pura A variety which is like the parental type, without change. trunk infrastructnre infraestructura primaria trunk network red interurbana trunk roads carreteras troncales, principales trunk sewer alcantarilla colectora, maestra trust fund fondo fiduciario; fideicomiso Trustee [GEF] Depositario

tubewell pozo entubado Strictly speaking a circular well consisting of tubes or pipes bored into the ground but often used synonymously with drilled well. tuition fees derechos de matncula turnaround (time) tiempo de rotacion, del viaje de ida y welta; tiempo necesario para un servicio turnkey contract, project contrato, proyecto lIave en mano A contract where a firm will undertake all the activities to deliver a complete project, including the provision of professional services, the supply of goods and civil works construction. turnover movimiento; rotacion; volumen de negocios [see also inventory turnover] turnover tax impuesto sobre el volumen, la cifra de negocios twenty equivalent units - TEU [containers] unidades de 20 pies (de contenedores) - TEU Standard unit for counting (equivalent) containers of various dimensions. twinning arrangements acuerdos de "hermanamiento" Arrangement whereby two organizations (or a group of organizations) work jointly on a project. In the Bank, it is generally used to refer to a situation where an organization (or a group of organizations) from an industrial country works with an organization (or a group of organizations) from a developing country, providing assistance as' well as being involved in the project. two digit inflation; double digit inflation (tasa de) inRacion de dos digitos, de 10% 0 mas two-envelope procedure [consultants] procedimiento de dOl sobres A procedure for selecting bids whereby each bidder is required to submit simultaneously his qualifications in one envelope and his bid in a 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 SubSaharan 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

-uUHF link [telecommunications] enlace UHF, en frecuencia ultraalta ultimate model modelo emaustivo A model which contains all the information needed for its operation. ultimate recoverable reserves - URR reservas recuperables definitivas - RRD The total amount of oil and gas recovered and believed to be recoverable from both discovered and undiscovered reservoirs, in the light of probable improvements in technology and based on a geological evaluation of a particular area or territory. ultra low volume (ULV) spraying meiado de muy bajo volumen umbrella (agreement) acuerdo global; a veces: acuerdo marco Agreement whereby MIGA and a member government provide the framework for MIGA's cooperation with the public and private insurers of that member. umbrella project proyecto que sirve de marco para otros; proyecto global A UNDP project under which an allocation from a country's indicative planning figures funding is provided for a specific period of time to finance a flexible package of preinvestment studies or other technical assistance activities, all of which may not be identified before approval by UNDP. umpire [legal] arbitro dirimente unaccounted [e.g. water, electricity] no contabilizado; perdido unallocatable expenditure gasto no asignable

unappropriated (earned) surplus utilidades no distribuidas y no asignadas That part of retained earnings which has not been transferred to a subordinate account or otherwise earmarked for any specific purpose, thus remaining available for the absorption of dividends. unbundling desagregacion; desglose; descomposicion unbundling of financial risks desagregacion, separacion de riesgos financieros The separation and separate evaluation of financial risks. uncalled capital capital suscrito y no desembolsado The amount of capital by which the total capital authorized by the stockholders exceeds the paid-up capital. uncovered interest rate parity model modelo de paridad de los tipos de interes sin cobertura underaccruals suma, diferencia por la cuallas cantidades devengadas son inferiores a las previstas undercapitalized subcapitalizado undercollection [taxation] deficiencia de reeaudacion underemployment subempleo; subocupacion undergraduate estudiante (que no ba recibido el primer titulo universitario) undergraduate studies estudios universitarios para obtener el primer titulo underground economy see parallel economy

230 underinvestment subinversion; inversion insuficiente

underwriting costs costos de garantia de emision

underinsurance infraseguro Failure to maintain adequate coverage for a specific loss or damage.

underwriting syndicate consorcio garante undeveloped plot lote sin semcios, no urbanizado

underinvoicing of exports subfactoracion de exportaciones; subvaloracion de las factoras de exportacion

undrawn balance saldo no utilizado

underleveraged con bajo coeficiente de endeudamiento

undrawn borrowings emprestitos pendientes de utilizacion

underlying costs costos implicitos

unearned income ingreso(s) no proveniente(s) del trabajo; a veces: ingreso(s) no salarial(es)

underlying inflation inflacion subyacente undernourished desnutrido undernutrition desnutricioo underprivileged desfavorecido; margin ado underrun cost costos ioferiores a los previstos; infracostos underwriter [securities] suscriptor; asegurador; garante The middleman for selling and distributing securities to investors or the public.

unearned interest intereses cobrados antieipadamente Interest on a loan that has already been collected but has not yet been earned because the principal has not been outstanding long enough. uneconomic production produccion antieconomica unemployment compensation, benefit seguro de desempleo unfunded interest interes no financiado unfunded liabilities obligaciones sin financiamiento previsto Any short-term liabilities as opposed to long-term obligations such as bonds.

underwriting see also equity underwriting underwriting authority [MIGA] autoridad emisora The President or any official or officials of MIGA designated by the President to make the decision on the issuance of a guarantee and on related matters. underwriting commitment [IFC] operacion de garantia de emision

unfunded system [insurance; social security} sistema finaneiado con aportaciones unified cross rates tipos de cambio concord antes uniform votes [ffiRD] votos bisicos mu votos de adhesion Basic votes plus votes derived from membership shares.

231 unimpaired capital capitallibre de gravamenes Capital which has no liens against it. MIGA's unimpaired capital is used as a basis for calculating its guarantee capacity. unit activity (crop) budget presupuesto por unidad de actividad In farm investment analysis, a farm budget based on an easily segregated activity such as planting a single hectare of a crop or raising a particular group of animals. It is difficult to prepare a unit activity budget on a with and without basis; rather, it is generally prepared on an incremental basis, with all costs and all benefits included at the incremental value. For both financial analysis and economic analysis, this means that for some elements the opportunity cost must be estimated directly, often especially difficult for land and for family labor. As a result, unit activity budgets are most appropriate in project analyses where the opportunity cost of land and family labor can be taken to be zero. unit budget envelope presupuesto (de una unidad del Banco) The budget for a specific unit in the Bank. unit cost costo unitario; precio unitario unit(ary) elasticity elasticidad igual a la unidad A schedule in which the coefficient of elasticity is 1, that is, a change of x percent in the price will cause a change of x percent in the quantity demanded or supplied. unit-managed costs costos, gastos descentralizados Costs which are the responsibility, for budgetary purposes, of individual units, as opposed to those that are centrally-managed. unit of account - UA unidad de cuenta An artificial concept designed to provide a consistent reference value against varying exchange rates, e.g. European Currency Unit, Special Drawing Rights

unit of output unidad de produccion unit price contract; admeasurement contract; remeasurement contract contrato a, de precio(s) unitario{s) A contract based on unit prices. Includes a bill of quantities, which is a statement of all the items of work included in the contract together with the estimated quantity of each item. See bill of quantities contract, schedule of rates contract. unit trains trenes unidades A complete train loaded with one product or material (such as coal) that is shipped from one specific point to another on a closely scheduled and controlled basis. unit trust see open end (investment) fund unit value valor unitario unit value export index indice del valor unitario de las exportaciones An index of the exports for the developing countries and the industrial market economies based on amount and value of total exports, calculated on an annual basis. Used to show changes over a period of time. unlocated worker trabajador ambulante Worker not employed in one place. unorganized worker trabajador no sindicado unpeg (a rate), to desvincular (el tipo) unrealized gains ganancias no realizadas Profits that have not become actual. The gains are realized when the security or other instrument on which there has been a gain is sold for a profit. unregulated housing (construction de) viviendas no sujeta(s) a reglamentaciones

232 unreleased funds fondos no disponibles para prestamos

untied aid ayuda no condicionada, desvinculada

unrequited transfer transferencia sin contrapartida [cuentas nacionales]; transferencia unilateral [balanza de pagos] Transfer of income that does not a involve a quid pro quo and which is non-contractual in character, for example, direct taxes, social security benefits and contributions, social assistance grants and grants between governments to finance the military or other consumption expenditure or budgetary deficit of a government.

untying of aid desvinculacion de la ayuda

unrestricted currency moneda de libre uso The portion of capital subscriptions paid in gold or US dollars and freely usable by IBRD in its lending operations.

upland cotton; hairy cotton algodon upland; algodon americano; aJgodon velloso

unrestricted subscription [IDA] suscripcion no sujeta a restricciones unseasoned investment inversion que no ba alcanzado su pleno rendimiento An investment that is not yet fully producing. unsecured (note, loan, etc.) sin garantia; no garantizado unskilled labor mano de obra no calificada unsmoothed data datos antes del amilisis de regresion Data which has not been subject to regression analysis. unspent credit balance saldo acreedor no utilizado unsubdivided plot terreno no parcelado unsuccessful bid oferta no favorecida (con la adjudicacion) untapped resources recursos inexplotados

upgrade, to [oil] refinar upgrading of skills perfeccionamiento upkeep costs gastos de mantenimiento, consen-acion

upland crops cultivos de montana, de tierras altas upland rice; mountain rice; highland rice arroz de montana, de tierras altas, de secano uploading [computers] transferencia bacia el sistema principal upper secondary education educacion secundaria de cicio superior upstream innovations; research-push innovations innovaciones inducidas por la investigacion upstream process primeros procesos upswing movimiento ascendente; fase ascendente, de expansion upturn (economic) cambio favorable de la coyuntura; iniciacion de la fase ascendente; recuperacion; reactivacion upward trend tendencia alcista, ascendente

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

- V-

vaccination yard corral de vacunacion valuable consideration a titulo oneroso A right, interest, profit or benefit accruing to one party or some forebearance, detriment, loss or responsibility given, suffered or undertaken by the other. See consideration. valuations for customs purposes aforo; valoracion aduanera valuable consideration, for; for a consideration a titulo oneroso value-added tax - VAT; tax on value added impuesto ai, sobre el valor agregado, anadido IVA value based accounting see current cost (value) accounting value date fecha de valor The calendar date on which a transaction takes place. value engineering anaIisis, ingenieria del valor An objective appraisal of all the elements of the design, construction, procurement, installation and maintenance of equipment, including the specifications, to achieve the necessary functions, maintainability and reliability at the lowest cost. It entails a detailed review of product designs and specifications, placing a total dollar value on the costs of production and maintenance and relating these costs to the functional value of each part and assembly. value for money optimizacion de los recursos

value recovery clause chiusula de recuperacion economica In debt rescheduling agreement, clause which states that if economic conditions improve beyond a predefined threshold, creditors will be entitled to increased reimbursement. variety trial pmeba, ensayo de variedad(es) vault toilet letrina de pozo negro Vectorborne disease enfermedad de transmision vectorial vehicle currency moneda "vehiculo" Currency used in a swap or similar transaction, even though it may not be the target currency. ventilated improved pit (VIP) latrine; VIP latrine letrina de pozo mejorada con ventilacion A pit latrine (i.e. a latrine consisting of a pit, a squatting plate (or seat and riser) and foundation, and a superstructure) where the pit is slightly offset to make room for an external vent pipe, painted black and located on the sunny side of the latrine superstructure so that the air in the vent pipe will heat up and create an updraft with a corresponding down draft through the squatting plate. venture [IFCJ operacion venture capital see risk capital venture capital company compaiiia de capital de riesgo Company specializing in providing venture capital finance. vertical cofinancing cofinanciamiento vertical vertical equity equidad vertical Distributing the tax burden among the nonpoor in line with their ability to pay.

235 vetiver vetiver Type of fodder grass, common in Africa. used for erosion control.

vocational guidance orientation profesional Also

VHF link [telecommunications] enlace VHF, en frecuencia muy alta village extension worker - YEW agente de extension de poblado - AEP The same as a village level worker. village level operation and maintenance (VLOM) pump bomba de operation y mantenimiento a nivel del poblado - BOMPO Pump for use in small villages. It is used in areas where there is no power so it is a hand pump and must be maintained by villagers with no mechanical skills. It must also be cheap. village level worker - VLW trabajador a nivel de poblado A worker with comparatively low-level education who has received training in production methods which he disseminates through selected fanners and others who adopt the new methods and compare the results with that part of their fields cultivated by normal practices. village woodlot bosque comunal

VIP latrine; ventilated improved pit (VIP) latrine letrina de pozo mejorada con ventilation A pit latrine (i.e. a latrine consisting of a pit, a squatting plate (or seat and riser) and foundation, and a superstructure) where the pit is slightly offset to make room for an external vent pipe, painted black and located on the sunny side of the latrine superstructure so that the air in the vent pipe will heat up and create an updraft with a corresponding down draft through the squatting plate. vital statistics estadisticas del estado civil, vitales vitamin deficiency avitaminosis

vocational training formacion profesional voice mechanism mecanismo de participacion Procedures to allow users to comment on the volume or quality of a service. In public sector management, these include dissemination of information about services, periodic evaluation, complaints procedures, participation of public representatives in decision-making or regulatory bodies and legal action by consumer action groups. This concept was developed by Albert Hirschman in Exit. Voice and Loyalty and adapted by Samuel Paul to the issue of accountability. volatile capital capital fugaz, inestable volatile organic compounds - VOC compuestos organicos volatiles Organic compounds which are producing photo-chemical oxidants driven reactions in the presence oxides. Include emissions such as vapor emissions.

capable of by sunlightof nitrogen hydrocarbon

volatile stock actiones de valor inestable A stock that changes in a manner inconsistent with changes in the rest of the market. volatility inestabilidad volatility ratio [stocks] relacion, coefitiente de inestabilidad The ratio by which overall changes in the stock market influence changes in a specific stock. volume driven program programa cuya magnitud depende del volumen de actividad

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 obligation 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). Voucherholders 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

-wwage agreement convenio salarial

wage restraint restriccion, austeridad salarial waive, to renunciar (a un derecho); dispensar, eximir (de una obligacion)

wage bill costos salariales; masa salarial

waiver renuncia (a un derecho); dispensa, exencion (de una obligacion); a veces: exendon parcial

wage claim reivindicacion, reclamacion salarial

waiver (of a right) [ICSID] renuncia

wage control ordenacion, regulacion salarial

waiver (of immunity) [ICSID] renunda

wage costs costos salariales

war and civil disturbance [MIGA] guerra y disturbios civiles One of the MIGA covered risks. Defined as "any military action or civil disturbance in any territory of the host country to which the Convention shall be applicable as provided in Article 66." Cf. riot and civil commotion.

wage drift desviacion de los salarios An increase in the effective rate of pay per unit of labor input by arrangements that lie outside the control of the recognized procedures for scheduling rates. In practice this is frequently interpreted to mean a rise in standard weekly earnings in excess of the rise in nationally negotiated wage rates. wage goods bienes salariales Goods normally bought out of current salary. wage pressure presion de los salarios wage-price indexing vinculacion de los salarios con los precios System whereby wage and salary increases are indexed to price increases. wage-price spiral espiral salarios-precios wage pull inflation innacion producida por los salarios wage rate salario

warehousing (of financial assets) inmovilizacion de activos Keeping financial assets in an investment for purposes other than making an immediate profitable investment. IFC does this to encourage other investors to invest in the project, while commercial banks are doing it with developing country assets in order to keep a presence in the country concerned. warning signal seilal de a1erta, de prevencion warrant [finance] certificado para la compra de acciones, bonos Option to purchase ordinary share or bond of a particular company, usually purchased by bondholder wanting to participate in profit growth of that company. Often attached to new bond issue as inducement for investors to take up the bond. warrant bond bono con certificado Bond with warrant attached. This may be a bond with bond warrant or a bond with equity warrant.

238 wastage; waste [education) volumen, tasa de desercion

waterlogging anegamiento

waste; loss in weight [commerce] desperdicio; perdida

waterman see ditch rider

waste disposal eliminacion de desechos wastewater ago as residuales, de desecho, servidas, negras water balance balance hid rico Balance of input and output of water within a given defined hydrological area such as a basin, lake, etc., taking into account net changes of storage. water-based disease enfermedad con base en el agoa Disease where a necessary part of the life cycle of the infecting agent takes place in an aquatic animal. Includes urinary schistosomiasis and dracunculosis. waterborne disease enfermedad transmitida por el agoa Disease where water acts only as a passive vehicle for the infecting agent. Includes cholera. typhoid and infectious hepatitis.

water management ordenacion de las agoas waterspreading distribucion de agoas Diverting water from gullies onto cultivated fields for irrigation purposes. water supply abastecimiento, suministro de agoa water-washed disease enfermedad vinculada con la falta de higiene Disease caused by lack of water, poor personal hygiene and lack of proper human waste disposal. Includes scabies, skin sepsis, yaws, leprosy, trachoma and conjunctivitis. watering see stock watering watering place agoadajagoadero;abrevadero watershed management ordenacion de cuencas hidrograificas. de vertientes

waterborne sewage system alcantarillado de arrastre hidraulico

waterway via navegable

water charges tarifas de agoa

ways and means medios y arbitrios

water control regolacion de Oas) agoas

weaning foods a1imentos para el periodo de destete Foods for weaning babies.

water emuent charges cargo por contaminacion del agoa Charges to users for polluting water.

wear and tear (fair) desgaste (normal 0 natural)

water engineer ingeniero hidrologo, hidraulico

wearing course; surface course [highways1 capa superficial, de rodadura

water harvesting aprovechamiento de agoas Directing runoff from a broad area by earth or stone bunds and canals onto smaller areas growing crops or trees.

weighbridge puente-bascula

239 weighted average media ponderada; promedio ponderado

The minimum structure for sanitaIy facilities on a lot.

weighted average tariff rate - W ATR tasa arancelaria media ponderada The average of all tariffs paid on imported goods and all subsidies paid on exported goods, each weighted by the proportion that the good represents in the value of total trade of the country.

wet gas gas humedo Natural gas containing liquid hydrocarbons in solution, which may be removed by a reduction of temperature and pressure or by a relatively simple extraction process.

weighted voting system sistema de votacion ponderada

wetlands tierras humedas Estuaries, lakes, mangroves, marshes and swamps.

welfare costs of protectionism costos economicos del proteccionismo Amount of money that exporters would need to receive to be as well off with protectionism against them in industrial countries as they would be without protectionism against them. welfare economy economia del bienestar welfare function; utility function funcion bienestar; funcion utilidad For an individual, the relationship between his level of wellbeing, welfare or utility and the things that contribute to it. For society, the relationship between the welfare of society as a whole and all the variables affecting the state of the economy and quality of life. welfare State Estado benefactor, providente welfare payments subsidios de asistencia social 'vellhead boca de(l) pozo; cabeza de(l) pozo wellhead price precio en la boca, en la cabeza del pozo The price paid at the wellhead for gas or oil produced. West Indian cotton; Sea Island cotton; Egyptian cotton; kidney cotton algodon de las Indias Occidentales; algodon de Barbados; algodon egipcio wetcore instalacion sanitaria minima

wet process [cement manufacture] elaboracion, fabricacion por via hUrneda Process of manufacturing cement used when the raw material contains a quantity of water. It is mixed in water and the paste obtained is treated. See also dry and semidry process. wharfage; wharfage charges; dockage; quayage muelJaje wheeling servicio de transmision Energy transported by an intervening party between a supplier and a receiver. wheeling charge cargo por transmision Charges levied by an intennediary who allows the producer to use his equipment to transmit electricity to the consumer. whole farm budget presupuesto global de la explotacion agricola A budget for activities on a farm. whole farm development desarrollo integral de la explotacion agricola wholesale banking transacciones entre grandes bancos y entre estos y otras instituciones financieras; transacciones interbancarias 1. Large-scale dealings in money deposits centered in the closely-interrelated group of money markets which have developed strongly since the mid-1960s. 2. Banking facilities offering a limited number of services to select clients (generally large corporations). See retail banking.

240 wholesale mechanism; wholesaling mecanismo de pdstamos a intermediarios Bank procedure whereby loans are made to an intermediary, which in tum onlends them to the beneficiaries. wholesale training capacitacion, formacion de instroctores Training trainers for subsequent training. wholly owned subsidiary subsidiaria en propiedad absoluta

The amount consumers are prepared to pay for a final good or service. An estimate of the value in use. wind pump bomba eolica windbreak (plantacion) cortavientos; barrera contra vientos windfall profit utilidad imprevista, euraordinaria

widening see capital widening wildcat (drilling) perforacion exploratoria Exploratory drilling for oil and/or gas on a geologic feature not yet proven to be productive, in an unproven territory or in a zone that has never produced or is not known to productive in the general area. wildcat well pozo exploratorio wild flooding riego por desbordamiento natural Method of irrigation which consists of spilling water at frequent intervals from a grade ditch constructed along the high edge of a sloping field. The water is allowed to flow freely down the slope, irrigating the soils the water moves across. Interceptor ditches are placed at intervals down the slopes to collect the water. Used primarily for irrigating low-income crops un steep lands where uniformity of water distribution is not a major consideration. wildland management area - WMA zonas siIvestres administradas Area where wildlands are protected and managed to retain a relatively unmodified state. wildland management unit - WMU zona silvestre protegida

window [computers] ventana window (in a market) resquicio Short-lived opportunity to issue securities that may be taken up by any of a significant number of highly rated borrowers. [see also discount window; Third Window] window dressing alteracion del balance; manipulacion de la contabilidad (para aparentar una mejor situacion) Financial actions such as stock market trading, whose purpose is to make a corporation's financial situation seem better than it really is, just before the publication of a balance sheet or other financial statement. window guidance [central bank] restriccion oficiosa del credito Unofficial control of interest rates by central bank. "with-and-without" test [projects] proeba, metodo de "con y sin" A test of the net benefit with and without the project. withholding tax impuesto retenido en la fuente

wildlands zonas silvestres

women in development - WID participacion de la mujer en el proceso de desarrollo

willingness to pay - WTP voluntad de pagar; disposicion para pagar

woodfuel lena; combustible de biomasa lenosa

241 word processor operador(a) de tratamiento de tenos; maquina de tratamiento de tenos workers' remittances remesas de los trabajadores (emigrados t expatriados) working account cuenta de explotacion A normal revenue and expense account. working age population poblacion en edad de trabajar working agreement acuerdo provisional (para facilitar ulteriores labores) working capital capital de trabajot de explotacion The capital necessary to purchase goods and services that are used for the production activities of an enterprise and that are turned over during the production cycle. [see also noncash working capital] working capital loan prestamo para capital de trabajo; credito de avio working capital ratio see current ratio working capital statement see statement of changes in financial position working funds fondos de explotacion working interest [oils, minerals] participacion del concesionario; interes economico directo The fractional interest of the lessee of a tract of land in the production of crude oil and gas from the tract. Costs are borne at the same rate as the interest held. working population poblacion activa

working ratio coeficiente de explotacion Cash working expenses divided by operating revenues, expressed as a percentage. working table; performance chart; management chart diagram at grafico de situacion workmen's compensation indemnizacion por accidentes de trabajo workout [financial] reestructuracion financiera Arrangements between borrowers and debtors (usually at international level) to extend repayment schedules and provide new credit at reduced interest rates. workout arrangements; workouts [IFe] arreglos Arrangements between borrowers and debtors (usually at international level) to extend repayment schedules and provide new credit at reduced interest rates. workshop [training] cursillo World Bank's Bank Banco del Banco Mundial Proposed organization to help raise and channel additional money for use in developing countries. Would probably had a greater lending-to-assets ratio than one-to-one as observed by the Bank itself Would have had more flexibility in raising money than the Bank. The project has been abandoned. World Bank Group Grupo del Banco Mundial (World Bank) Manufacturing Unit Value (MUV) Index in dice del valor unitario de las manufacturasVUM Industrial countries' indices of US dollar unit values of manufactured exports to developing 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

-xx-efficiency eficiencia x A situation in which a firm's to~'" costs are not minimized. because the actual output from given inputs is less than the maximum feasible level. xenocurrencies xenomonedas; xenodivisas A deposit or loan denominated. in a currency other than that of the country in which the bank is located.. -y-

yellow stained. cotton algodon amarillento Cotton almost entirely discolored to a slightly mottled. tan color. 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.

-zzero base budgeting - ZBB presupuestacion a partir de cero A budget process which requires managers to justifY each requested. budgetaIy expenditure anew each year.

zero coupon bond bono sin cupon Bond that pays no interest but is sold at a steep discount and paid off at par. zero fee policy politica de servicios gratuitos zero population growth - ZPG crecimiento cero de la poblacion zero sum game juego de suma cero, nula zero tillage system sistema de cultivo sin laboreo, de cero labranza Cultivation involving zero plowing, i.e. by planting directly on the soil surface, usually using manure, hay or some other substance to aid growing. zone extension officer - ZEO [agricultural extension] oridal de eJ:tension de zona - OEZ Senior extension officer, at the highest level.

Spanish-English Glossary Glosario espaiiol-ingles

247 a granel bulk, in

absorber take over, to

a nivel popular, comunitario, local grass root(s) level, at the

taken over by

a titulo de donadon grant basis, on a

acarreo entre terminales line-baul [transportation]

a titulo oneroso consideration, for a; valuable consideration, for

accesibilidad fmandera affordability

a titulo oneroso payment basis, on a

accesion accession

abandono

droppage [IFC]

accion ajustable y convertible convertible adjustable stock

abastetimiento de agoa water supply

action con derecho de veto golden share

abogado

action de primera clase blue chip; blue chip security

advocate [lCSID] abonado consumer [telecommunications] abonado con rastrojo stubble mulch farming abono de base

absorbido(a) por

action ordinaria common share; common stock; ordinary share; equity action ordinaria equity; common share; regular share [stock exchange]

basal dressing; bottom dressing abono de cloaca, de letrina night soil abono de superfitie top dressing [agriculture] abono simple single fertilizer abonoverde

action recibida como dividendo bonus share actiones corporate stocks; equity actiones de adhesion membership shares [World Bank] acciones de valor inmable volatile stock

green manure abrevadero watering place abrevado [ganado] stock watering [livestock]

actiones en cireulacion outstanding shares, stock actiones habilitantes qualifying shares

248 acciones nominativas registered share, stock; personal stock

actividad comercial business line

acciones pagadas paid-up stock; fully paid stock

actividad de demostracion demonstration activity

acciones preferenciales, preferentes, preferidas preferred stock

actividades con fines de lucro directamente improductivas directly unproductive profit seeking (DUP) activities

acciones que confieren derecho de voto voting stock aceite pesado heavy oil aceleracion del vencimiento acceleration of maturity (ofa loan) [ffiRD] aceptacion bancaria acceptance; bank acceptance; banker's acceptance acondicionamiento de tierras land development acontecimiento development acreedor no prioritario junior creditor acreencia financial claim acreencia [banca] claim acreencias no redituables, improductivas nonperforming debt

actividades de extension, de divulgacion outreach activities actividades iniciales initial operation actividades previas a la explotacion predevelopment work [oil] activo(s) assets activo contingente contingent asset activo corriente current assets activo de reserva reserve asset activo disponible y realizable a corto plazo current assets activo financiero financial claim

acta (de la Comision) report (of Commission) [ICSID]

activo neto stockholders' equity; shareholders' equity; owners'. equity; equity; net worth

acta de sesion(es) proceedings

activos a la vista sight assets

Actas Resumidas Summruy Proceedings

activos a su valor de adquisici6n historically valued assets

actividad basica core process [ffiRD]

activos autoliquidables, autoamortizables self-liquidating assets

249 activos en el exterior foreign assets

actuaciones (juridicas) proceedings

activos fijos capital assets; fixed assets; permanent assets; fixed capital [accounting]

actualizado a partir del segundo aDo time-adjusted [project analysis]

activos intangibles, inmateriales intangible assets, property activos liquidos, disponibles liquid assets; quick assets activos no redituables, improductivos nonperforming assets

actualizar discount, to [finance] acuerdo basico frame agreement [IBRO] acuerdo condicional de reembolso qualified agreement to reimburse

activos productivos earning assets

acuerdo de arrendamiento de equipo para operaciones operating leasing agreement

activos reales real assets

acuerdo de cesion assignment agreement

activos redituables, productivos performing assets

acuerdo de comercializacion marketing arrangement

activos sobre el exterior foreign assets

acuerdo de compromiso contingente standby agreement [IFC]

activos transitorios temporary assets

acuerdo de concesion franchising agreement

activos varios sundty assets

acuerdo de cooperacion general framework cooperative arrangement [MIGA]

activos vendibles saleable assets

acuerdo de derecbo de giro standby arrangement [IMF]

acto de gobiemo act of state; sovereign act doctrine

acuerdo de destinacion especial set aside agreement

actuacion performance

acuerdo de ejecucion implementing agreement

actuacion de las instituciones institutional performance

security agreement

actuaci6n rmanciera financial performance, results

Acuerdo de la Ronda de Tokio Tokyo Round Agreement

actuacion oral oral procedure [ICSID]

acuerdo de licencia, de concesion de Iicencia licensing agreement

acuerdo de garantia

250 acuerdo de mantenimiento de la situacion existente standstill agreement

acumulacion bunching

acumulacion de existencias acuerdo de recompra buy-back agreement; take-out agreement; repurchase agreement

stockpiling

acumulacion de vencimientos bunching of maturities

acuerdo de reprogramacion multianual de la deuda multiyear rescheduling arrangement; multiyear restructuring agreement - MYRA

acumulacion de vencimientos debt bunching acumulaciones

acuerdo de retencion de acciones share retention agreement [IFC] acuerdo firme de compra (sin dei'echo de rescision) take-or-pay agreement, contract

accruals

adelanto development 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

acuerdo provisional (para facilitar ulteriores labores) working agreement

adelantos y atrasos leads and lags adelgazamiento de la capa de ozono 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 basicos international commodity agreements, arrangements

adiestramiento en el empleo, trabajo on-the-job training

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) extender [gasoline]

administrador del proyecto project manager

adjudicacion award [contracts]

administradores managers

adjudicacion (de titulos de propiedad) de la tierra titling (land)

admision intake

adjudicatario successful bidder

adoption (por el prestatario) de un programa comopropio borrower ownership

administracion, la Management [World Bank]

adquisicion de un solo proveedor sole source procurement

administracion colegiada collegial management

adquisicion en grandes cantidades, en grueso bulk procurement

administration de activos y pasivos asset and liability management

adquisicion no conforme con los procedimientos reglamentarios misprocurement [lBRD]

administracion de impuestos tax office

administracion de la ayuda a los paises counuy assistance management - CAM administracion de proyectos project management administracion local local authority; local government administracion participatoria participative management administracion por objetivos management by objectives - MBO administracion portuaria port authority administracion publica civil service; government services administracion superior senior management administraciones pUblicas general government [national accounts]

adquisicion reservada (a proveedores, contratistas nacionales) reserved procurement adscripcion secondment afiliada affiliate afiIiadas sister companies afinamiento (de la economia) fine tuning (of the economy) afirmacion claim afluencia de capital capital inflow afluencia de fondos cash inflows aCoro valuations for customs purposes

252 agente agent [bank syndicate]

agregado aggregate

agente (de cambio y bolsa) broker

agregados monetarios monetary aggregates

agente comprador buying agent [commodities]

agricultor con pequefta(s) explotacion(es) satelite(s) outgrower

agente de adquisiciones procurement agent agente de compras buying agent [commodities] agente de extension, de divulgacion agricola extension agent, worker agente de extension a nivel de poblado field-level extension worker agente de extension agricola agricultural extension officer - ABO agente de extension de poblado - AEP village extension worker - VEW agente de salud comunitaria community health worker - CHW agente en el terreno field agent agente financiero fiscal agent agilizacion streamlining agio premium [securities] agotamiento de la capa de ozono ozone depletion agotamiento previo de las vias administrativas 0 judiciales (de un Estado) exhaustion of local administrative or juridical remedies [ICSID]

agricultor de enlace contact farmer [agricultural extension] agricultor innovador advanced farmer agricultura de subsistencia subsistence farming agricultura en tierras de aluvion floodplain agriculture, cultivation agricultura industrial factoty farming agroeconomista agro-economist agroindustrias agribusiness; agroindustries; agro-based industty; agroprocessing industries agronomo agriculturist agrosilvicultura agroforestty; farm forestty agua brota, cruda, sin tratar raw water agua corriente, por tuberia piped water agua potable safe water; drinking water; safe drinking water agua que no produce ingresos nomevenue water

253

watering place

ajuste financiero financial adjustment

aguadero watering place

ajuste gradual del tipo de eambio crawling peg [rate of exchange]

aguas residuales, de des«ho, seJ'Vidas, negras wastewater

ajuste institudonal organizational fine tuning

agujero en la capa de ozono ozone hole

aI eosto de los faetores factor cost, at - i.c.

ahorrador negativo dissaver

aleanee coverage

ahorro de energia energy conservation

trunk sewer

ahorro forzoso compulsory saving; forced savings

aleantarillado de arrastre hiddulieo waterborne sewage system

ahorro interno domestic savings

alfabetizadon literacy; literacy education

ahorro negativo dissaving

alfabetizadon fundonal functional literacy

aisladonista inward-looking; inward-oriented [country; policy]

algodon amarillento yellow stained cotton

ajustado para tomar en euenta las variaeiones estaeionales seasonally adjusted

algodon amerieano hairy cotton; upland cotton

aguada

ajuste adjustment ajuste eambiario exchange adjustment ajuste de la(s) politiea(s) industrial y eomereial industrial and trade policy adjustment - ITPA ajuste de traduedon (de monedas) translation adjustment [accounting] ajuste del dgimen eomereial trade adjustment ajuste exeesivo overshooting

aleantarilla colectora, maestra

algodon arboreo tree cotton; Ceylon cotton; Siam cotton; China

cotton algodon de Barbados kidney cotton; West Indian cotton; Sea Island cotton; Egyptian cotton; algodon de fibra eorta short staple cotton algodon de fibra eItra larga extra long staple cotton algodon de fibra larga long staple cotton

254 algodoo de libra mediana medium staple cotton

almaceo de aduanas bonded warehouse

algodoo de las Indias Occideodales Sea Island cotton; west Iodian cotton; Egyptian cotton; kidney cotton

alojamiento para el persooal staff house

algodoo de las Islas Occideotales Egyptian cotton; kidney cotton; Sea Island cotton; West Indian cotton algodoo egipcio West Indian cotton; Sea Island cotton; Egyptian cotton; kidney cotton algodoo gris claro gray cotton; light gray cotton; blue stained cotton algodoo herbaceo American short staple cotton; Arabian cotton; herbaceous cotton; Levant cotton algodoo ligerameote manchado light spotted cotton algodoo manchado spotted cotton algodoo tintado tinged cotton algodoo upland upland cotton; haity cotton algodoo velloso haity cotton; upland cotton alimento basico staple (food)

alteracioo del balance window dressing alteroancia rapida (de medidas) de expansion y cootraccion stop-go, stop and go policy alteroativa alternative [projects]; trade-off alto fuocionario senior manager alumnos por profesor student-teacher ratio - STR; pupil-teacher ratio PTR.; teacher-pupil ratio alza de tarifas tariff escalation alza por efecto de trioquete ratcheting up ambieote propicio, favorable enabling environment ambito de aplicacion de las recomeodaciones recommendation domain amiguismo cronyism amoistia tributaria tax amnesty

alimeotos iogeridos food intake alimentos para el periodo de destete weaning foods alivio relief alivio de la carga de Ia deuda debt relief

amortizable redeemable amortizacion redemption amortizaci6n (depreciacioo) lioeal, coostante, de cuotas liju depreciation on a straight line; straight line depreciation

255 amortizacion en libros writing down

analisis hedoRico de los precios hedonic price analysis

amortizar pareiaimente en libros write down, to~ expense, to

an41isis por conglomerados, grupos cluster analysis

amortizar totalmente en libros write off, to

an41isis transversal cross-sectional analysis

ampliacion extension [building]

Andropogon gayanus andropogon

ampliacion del capital capital widening

anegamiento waterlogging

am\lisis de costo minimo least cost analysis

anegamiento controlado controlled flooding

an41isis de costos-beneficios cost-benefit analysis

anexo [convenios de prestamo 0 credito] schedule

anaIisis de la capacidad limitante bottleneck analysis

animales de cruza cross-bred progeny [livestock]

an41isis de la inddencia fiscal tax incidence analysis

animales reproductores breeding stock

anaIisis de las ofertas examination of bids

antecedentes (profesionales) background [education]

anaIisis de punto muerto, de equilibrio breakeven analysis

antecedentes academicos educational background

anaIisis de redes network analysis

anticipacion del vencimiento prematuring

anlilisis de 8ensibilidad sensitivity analysis

anticipo de caja cash advance

anaIisis del crecimiento growth accounting [econometry]

anticipo para movilizacion mobilization advance [contracts]

an4lisis del equilibrio general general equilibrium analysis

antiseleccion de riesgo adverse selection [MIGA]

anaIisis del valor value engineering

antradta anthracite; hard coal

an41isis del valor hedonico hedonic price analysis

antradta 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 base year

interest support

apoyo de los intereses

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 tax deferral

"no objection" (procedure)

aprobacion tacita

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 hydrodevelopment

arranque take-off

aprovechamiento de tierras land development

arrastre de troncos skidding

aprovisionamiento de combustible [barcos] bunkering

arreglo (de una diferencia) settlement (of a dispute) [ICSID]

arancel tariff; tariff schedule

arregios work-out arrangements; work-outs [IFC]

araneel de "puro estorbo" nuisance tariff

arrendamiento leasing

arbitraje de cambios exchange aroitrage

arrendamiento fmanciero finance lease; financial, full payout lease; leasing

arbitraje de intereses con cobertura covered interest arbitrage

arroz acuatieo flooded rice

arbitraje impositivo tax aroitrage

arroz de montana, de tierras altas, de secano upland rice; mountain rice; highland rice

arbitro aroitrator [ICSID]

arroz flotante floating rice

arbitro dirimente umpire [legal]

articulo basico staple (good)

arbol de cultivo, aprovechable crop tree

articulo de propaganda, de eebo, de reclamo loss leader

arbol forrajero forage tree

articulo patentado 0 de marca registrada proprietary good, item

arboricultura tree farming

artiga ash farming; burn-beating; burning

area habitable living area

asegurador underwriter [securities]

arenas asfaIticas tar sands

asentamiento land settlement; shakeout (of the market)

arenas impregnadas de brea oil sands; tar sands

asentamientos humanos human settlements

arenas petroliferas, asfaIticas oil sands

asientos (contables) accounting entries; entries

258 asignaci6n provision [accounting)

asignaci6n por trwado relocation grant

asignaci6n de divisas exchange allocation

asignaci6n presupuestaria allotmen; appropriation [budget]; budget appropriation

asignaci6n de las utilidades allocation of profits; appropriation of profits asignaci6n de los fondos del preaamo allocation of loan proceeds asignaci6n de 108 ingresos netos allocation of net income asignaci6n de los recursos allocation of resources asignaci6n desacertada de 108 recursos misallocation of resources asignaci6n para mas de precios price contingencies asignaci6n para depreciaci6n reserve for depreciation; allowance for depreciation; depreciation allowance asignaci6n para excesos de cantidades fisicas physical contingencies asignaci6n para instalaci6n settling-in grant [IBRD] asignaci6n para vacaciones en el pais de origen home leave allowance [World Bank] asignaci6n por agotamiento depletion allowance, reserve asignaci6n ,or cargas familiares, ,or persona a cargo dependency allowance asignaci6n ,or construcci6n construction allowance asignaci6n por reasentamiento, por reinstalaci6n resettlement grant

asignatora subject matter [education] asistencia en apoyo de politicas poUcy-based assistance asistencia en condiciones concesionarias, muy favorables concessional, concessionary aid asistencia en especie commodity assistance asistencia no destinada a proyectos especificos, para fines generales nonproject aid asistencia oficial para el desarrollo - AOD official development assistance - ODA asistencia operacional - ASOP Operational Assistance - OPAS [UNDP] asistencia para fines de ajuste adjustment aid asistencia para programas program aid asistencia para proyectos project aid asistencia social social welfare asistencia tknica independiente free-standing technical assistance - FSTA asistencia tknica para desarrollo institucional institution-related technical assistance; soft technical assistance

259 asistencia '&eeniea relacionada con las inversiones en adiv08 fisie08 engineering-related technical assistance; hard technical assistance asistencia '&eeniea reladonada con los componentes fisie08 engineering-related technical assistance; hard technical assistance

atenuaci6n de los impuestos tax mitigation atraeci6n crowding in atraso(s) en los pagos payment arrears auditar audit, to

asistenda teeniea relaclonada con los eomponentes no fisicos 0 de servidos institution-related technical assistance; soft technical assistance

auditor auditor

asistente teenieo technical assistant

auditoria audit [finance]

asociad6n partnership

auditoria ambiental environmental audit

asoeiaei6n de ahorro y eredito rotatorio rotating savings and credit association - ROSCA

auditoria general, integral, a fondo comprehensive auditing

asoeiaei6n de pastoreo eomunitario pastoral association - PA

auditoria impositiva, tributaria tax audit

aspectos eomplementarios complementarity

auditoria interna internal audit

aspectos econ6mie08 del retroeeso economics of regress

auge development

aspeetos soeiales del ajuste social dimensions of adjustment - SDA

aumento de la produeci6n production build up

asumir take over. to

aumento de la temperatura mundial global warming

asumir eomo propio own, to

aumento de preeio mark-up

atenci6n basica de salud basic health care

aumento del capital capital widening

ateneiOn primaria de (la) salud prinwy health care

aumento del capital eon respeeto aI trabajo capital deepening

atender el servido de un p.-estamo service a loan. to

aumento del eomponente de servicios en los produet08 manufaeturad08 dematerialization of manufactures

260 aumento del valor en Iibl'08 write up [USA]

autonomia self-sufficiency

aumento general del capital General Capital Increase - Gel

autonomo free-standing; self-contained

aumento por merito merit increase

autoria borrower ownership; ownership (of programs)

aumento selectivo del capital Selective Capital Increase - SCI

autoridad emisora underwriting authority [MIGA]

austeridad financiera :financial restraint, stringency

autoridad portuaria port authority

austeridad monetaria monetary restraint

autoridad que efectUa la designacion Designating Authority (of Panel Members) [ICSID]

austeridad salarial wage restraint autoabastecimiento self-sufficiency autoaseguro self-insurance autoayuda self-help autocontrol self-restraint autocorreccion self-adjustment autoctonizacion localization autodeterminacion self-detennination autofinanciamiento self-financing autolimitacion self-restraint automatizacion de oficinu office automation

autoridades government autoridades municipales, provinciales, etc. local authority; local government autoridades municipales, provinciales, etc. local government; local authority autorizacion authority [legal]; clearance autorizacion legal legal authority autorizacion legislativa enabling legislation autorizacion presupuestaria appropriation [budget] autorizado registered (e.g. tradesmen) autorregulacion self-adjustment autosnficiencia self-sufficiency 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 staff assistant

bacheo

patching; spot improvement, patching; road, swface patching [highways]

auxiliara de enseilanza

teaching aids

bacheo de bacha

auxiUo

spot patching, improvement; road, swface patching; patching [highways]

relief baden avaliio aduanero, de aduana customs valuation (practices)

submerged bridge

avaliio para rmes impositivos tax assessment; assessment for tax

retirement (of a fixed asset)

avaliio pericial

consolidated balance sheet

baja (de adivos rljos)

balance (general) consolidado

expert appraisal balance de energia avance

energy audit

development balance forrajero aviso de desembolso

feed balance; feed estimate

disbursement letter balance hid rico avitaminosis vitamin deficiency

water balance

tied aid

balanza comercial trade balance; balance of trade; merchandise balance

ayuda en condiciones concesionarias, mu)' favorables

resource balance

ayuda condicionada, vincuIada

balanza de recUr80S

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, para fines generales

nonproject aid

affiliate bank banco agente

agent bank

262 banco autorizado authorized bank banco codirector [emisiona de bonos] colead manager banco comercial, privado commercial bank banco cOrrelponsal agent bank; correspondent bank

bancos estableeidos en las principales plazas financieras money center banks bandera de conveniencia, de favor flag of convenience; open registry flag bailo dip {stockbreeding] barbecho en maleza bush fallow

banco de credito para la producci6n y las exportaciones agropecuarias ,!gricultural n.roduction and ~rt (apex) bank

barbecho forestal forest fallow

banco de desarrollo, de fomento development bank

barn de refuerm reinforcing bar; rebar

banco de genes gene bank [plants]

barrera contra vientos windbreak

banco de importancia secundaria second tier bank

barrera no arancelaria nontariffbarrier - NTB

banco de inversiones investment bank [US]; merchant bank [UK]

barreras arancelarias tariff barriers

banco de segunda instancia second tier bank

barrila de equivalente en petr61eo - bep barrels of oil equivalent - boo

Banco del Banco Mundial World Bank's Bank

barrila diarios de equivalente en petr61eo bdep barrels per day of oil equivalent - bdoe

banco depositario depository bank banco director lead bank; lead manager banco emisor, de emisi6n issuing bank; bank of issue banco extraterritorial offshore bank banco hipotecario mortgage bank banco principal apex bank, institution

barrio de tugurios slum base base; road base [highways]; hard core [projects] base de dlculo &cumulada cumulative charge number [currency pool] base de dlculo de la tasa de intera charge number [currency pool] base de dlculo de la tasa de interes de los desembolsos acumulados cumulative charge number [currency pool]

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) money

bien comerciable, comerclalizable, exportable 0 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 loss payee

global commons

beneficlari08 designados, esoogidos, espeeificos, seleecionad08

capital equipment; capital goods

bienes de capital, de equipo

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 off-the-shelf goods

biodiversidad biodiversity

bienes fungibles fungible goods

boca de(l) pozo wellhead

bienes fungibles, de eonsumo consumables

boceto sketch plan [architecture]

bienes industriales industrial goods

bomba de operacion y mantenimiento a nivel del poblado - BOMPO village level operation and maintenance (VLOM) pump

bienes inmuebles, raices real assets bienes intangibles, inmateriales intangible assets, property bienes intermedios intermediate goods bienes materiales, tangibles, corporeos tangible assets, property bienes no eomerciados, no comercializados, no exportados 0 importados nontraded goods bienes no exclusivos, no excluyentes nonexcludable, nonexcludible goods bienes preferentes, deseables merit goods bienes salariales wage goods bienes y servicios goods and services

bomb a de refuerzo booster pump bomba ec'ilica wind pump bonificacion bonus; development; incentive payment bonificacion de tierra land reclamation bonificacion por desearga rapida despatch money; dispatch money bonification por trabajo en el exterior overseas allowance bonificar reclaim bono ajustable, indizado indexed, index-linked bond bono aI portador bearer bond

bienes y servicios eeologicos, para la proteccion ambiental environmental goods and services

bono Brady Brady bond

bienestar sodaI social welfare

bono clasico, ordinario straight bond

bifenilo policlorinado - BPC polychlorinated biphenyl - PCB

bono con certificado warrant bond

265 bono con cup6n coupon bond

bono perpetuo, de renta vitalicia annuity bond

bono con garantfa de activ08 [Reino Unido] debenture (bond)

bono publico, del Estado government bond

bono con interis variable, flotante floating rate bond

bono sin cup6n zero coupon bond

bono con opci6n de cambio de divisas (multiple) (currency) option bond

bono sin garantia especifica debenture (bond)

bono con vencimiento degido a la suerte serial bond

bonos del gobiemo britlinico gilt-edged securities

bono convertible convertible bond

bonos en circulaci6n outstanding bonds

bono de desarrollo development bond

bonos, etc. emitidos mediante oferta publica publicly issued (bonds, etc.)

bono de descuento intensivo deep discount bond, note

bosque (humedo) tropical tropical rain forest

bono de exclusi6n exit bond

bosque comunal village woodlot

bono de una empresa privada, de una compadia, de una sociedad an6nima corporate bond

bosque de altura mountain forest

bono de vencimiento escalonado serial bond bono del Tesoro Treasury bond bono descontado discount bond bono emitido con descuento original issue discount (DID) bond bono nominativo registered bond bono participatorio income note bono perpetuo perpetual bond

bosque de coniferas softwood forest bosque de especies frondosas temperate hardwood forest bosque de especies frondosas, no coniferas hardwood forest bosque de producci6n production forest bosque de protecci6n protected forest bosque de segundo crecimiento, bosque talado cut-over forest bosque de usos multiples mixed-use forest

266 buque eisterna

bosque destinado a convertine en.•• conversion forest

tanker

bosque bUmedo, pluvial rainforest

tanker

bosque mixto mixed forest

bnsqueda de personal calificado head hunting

bosque protegido protected forest

cabeza de(I) pozo wellhead

bosque publico protegido gazetted (protected) public forest

cabotaje coastal shipping

bosque reservado designated forest

cafe pergamino parchment coffee

bosque totalmente protegido preservation forest

caja de credito para la produccion y las exportaeiones agropecuariu griculturalllroduction and ~rt (apex) bank

brecba gap brecba de rmaneiamiento funding gap

buquetanque

caja de seguridad social social security fund dlculo de costos directos direct costing

brecba de pobreza poverty gap

dlculo de precios sociales social pricing

brecbaderecursos resource(s) gap

brecba deftadonaria deflationary gap brecba finandera ex ante ex ante financing gap brecba inflacionaria inflationary gap buen ejercicio del poder governance buen gobierno governance buena gestion de la cosa publica governance

calendario schedule calendario del servicio de la deuda debt service schedule calentamiento de la Tierra global warming calidad de miembro; ingreso membership [IFC] caUdad para elaboracion manufacturing grade [meat] calificacion performance evaluation [personnel] calzada de servicio service road

267 camara de compensation [bancos] clearing house

canal de descarga spillway chute; tailrace

cambio dimatico circunstandal transient climate change

canal de presion, de carga penstock [hydroelectricity]

cambio dimaifico de equilibrio equilibrium. climate change

canal de un rio river channel

cambio desfavorable de la coyuntura downturn (economic)

canalero ditch rider; waterman

cambio favorable de la coyuntura upturn (economic)

cancelacion cancellation

camino de acceso, secundario, vecinal feeder road

cancelacion en libros write off [noun]

camino de grava gravel road

canceladones acumuladas en libros cumulative write offs

camino de normas reducldas, bajas low standard road

canon por pie stumpage fee

camino de salida evacuation road

cantidad asegurada corriente current insured amount; current amount [MIGA]

camino de tierra earth road

cantidad corriente current insured amount; current amount [MIGA]

camino trazado tec:nicamente engineered road camion dsterna tanker

cantidad representativa (de los emprestitos del BIRF contraidos antes del inido del sistema de tipos de interes basados en una cesta de emprestitos pendientes) proxy [ffiRD lending rates]

camion tanque tanker

cantidades de dinero nuevo new money packages

campana crop year

cantidades para los pianos definitiv05 final design quantities

campo de aplicacion coverage

base; road base [highways]

campo de atendon especial de las operaciones area of operational emphasis - AOE; special operationalemphasis-SOE canal de derivacion floodway; high-flow diversion

capa de base

capa de ozono ozone layer capa freatica groundwater table

268 capa intermedia base course [highways]

capacidad de palO aft'ordability

capa superficial, de rodadura surface course; wearing course [highways]

capacidad de produccion productive capacity

capaddad capability [urban development]

capacidad de reaccion buoyancy [economics]

capacidad crediticia creditworthiness; financial standing

capacidad de recuperacion de la tierra land resilience

capacidad de absorcion absorptive capacity; carrying capacity (of the Earth)

capacidad de reserva inmediatamente disponible spinning reserve [electricity]

capacidad de acarreo carrying capacity [transportation]

capacidad de sostento carrying capacity [pastures]

capacidad de acceso a ••• aft'ordability

capacidad de tratico load bearing capacity; traffic bearing capacity

capacidad de atraque bertbing capacity

capacidad empresarial entrepreneurship

capacidad de carga carrying capacity [pastures]; stock carrying capacity [livestock]

excess capacity

capacidad de despacbo de buques berth throughput capacidad de diseiio, nominal, de regimen rated capacity capacidad de endeudamiento borrowing capacity; debt carrying capacity capacidad de endeudamiento en, por concepto de garantias guarantee leverage capacidad de garantia guarantee capacity [MIGA]

capacidad excedentaria

capacidad ganadera carrying capacity [pastures] capacidad instalada installed capacity [electricity1 capacidad no utilizable dead storage (capacity) capacidad no utilizada slack [economy1 [noun1 capacidad nominal, de diseiio design capacity capacidad para atender el servicio de la deuda debt servicing capacity

capacidad de importacion derivada de las exportaciones importing power of exports

capacidad para valerse por si mismo self-reliance

capacidad de obtencion de ingresos earning power

capacidad tributaria tax-paying capacity

269 capacidad Dill live storage, capacity

capital creado por el hombre man-made capital

capacidades buicas basic skills

capital de riesgo risk capital; venture capital

capacitacion skills development

capital de trabajo, de explotacion working capital

capacitacion de instl1lctores wholesale training

capital de trabajo, de explotacion no disponible inmediatamente noncash working capital

capacitacion en d empleo, trabajo on-the-job training capacitacion en el servicio in-service training capacitacion en la empresa in-house training capacitacion para el puesto, cargo job-related training capitacion capitation tax; poll tax; head tax capital (de un prestamo) principal capital (social, accionario) equity capital accionario autorizado authorized share capital capital accionario emitido issued share capital capital autorizado authorized capital stock [MIGA] capital cireulante, tlotante floating capital capital comereial, en condiciones de mereado commercial capital capital congelado, bloqueado frozen capital

capital en prestamo loan capital capital extranjero, extemo (oficial, privado) foreign capital (official, private) capital fijo capital assets; fixed assets; permanent assets; fixed capital. [accounting] capital fugado flight capital capital fugaz, inestable volatile capital capital improductivo no-return equity capital improductivo, "lastre" deadwood equities [IFC] capital inmovilizado locked-up capital capitallibre de gravamenes unimpaired capital capital nacional [para un pais] capital stock capital nacional fijo overhead capital capital natural natural 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

capitalizacion de la deuda

efficiency cost of taxation; excess burden of taxation

debt-equity conversion; debt-equity swap

carga familiar capitalizaci6n de la deada debt-equity swap; debt equity conversion

dependent

captacion

breakbuIk

carga fraccionada 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 charge; lien [legal]

cargos autorizados authorized positions [personnel]

cargo lien; charge [legal]

overaccruals

cargo (aplicado) segUn la concentracion de 1011 contaminantes strength charge cargo (aplicado) segUn volumen de descarga volumetric charge cargo at usuario chargeback cargo ejecutivo, de direccion, de supervillion line management position cargo ejecutivo, de operacionell line position cargo por contaminacion del agua water effiuent charges cargo por medidor, por contador meter rent [electricity] cargo por presentacion de solicitudell fee for lodging requests [ICSID] cargo por reinversion redeployment cost [IFC] cargo por servicioll service and support fee [IFC]; service charge cargo por subordinacion subordination fee cargo por transmillion wheeling charge cargo por uso de oficinas office occupancy fee - OOF cargoll charges [utilities] cargoll a 1011 usuarios de las carreteras road user charges

cargos contables excesivos

cargoll diferidOI deferred charges, expenses cargos por efluentes effluent charges cargos por manipulacion, tramitacion, etc. handling charges carretera de normas reducidas, bajas low standard road carreteras troncates, principatell trunk roads carta a la adminilltracion management letter [auditing] carta complementaria side letter; supplemental letter carta complementaria supplemental letter; side letter carta de aceptacion letter of acceptance carta de credito letter of credit (UC) carta de credito acumulativo cumulative letter of credit carta de cr~dito confirmada confUlned letter of credit carta de credito irrevocable irrevocable letter of credit carta de declaracion de la deuda externa debt representation letter carta de entendimiento letter of understanding

272 carta de intenti6n, de intentiones letter of intent - LOI

categoria de ingreso(s) income bracket

carta de intentiones sobre la politica de desarrollo letter of development policy - LDP [IBRD]

categorias de supervisi6n supervisory grades

carta de intentiones sobre la politica sectorial letter of sectoral policy [IBRD]

categorias principales del programa de operaciones program objective category - POe

carta de seguridades letter of comfort

cauce de comercializad6n channel [trade]

cartel (explicitly) collusive oligopoly

cauce de un rio river channel

cartera de actiones stock ownership

caudalimetro flow meter; flowmeter

cartera de activos liquidos liquidity portfolio []FC]; liquid assets portfolio

cedente assignor

cartera de inveniones (a largo plazo) investment portfolio

ceguera de los rios onchocerciasis; river blindness

cartera de invenioBes a torto plazo trading portfolio

celebrar un convenio, un acuerdo execute an agreement, to

cartera de pristamos loan portfolio

dlula energetica fuel cell

cartera modelo benchmark portfolio

centesimo de punto porcentual (0,01%) basis point

casa de aceptaciones acceptance, accepting house [UK]

central (generadora) de energia a partir de biomasa biomass (power) plant, station

caso hipotetico counterfactual castigar write down, to; expense, to castigo del valor en libros writing down catastro land register categoria status

central (productora) de biog" biogas plant central de biomass biomass (power) plant, station central de carga de base, fundamental base load station [electricity] central de vapor steam plant

273 central electrica de carbon, que utiliza carbon como combustible coal fired power station central electrica de petroleo oil fired power station central electrica dendrotermica dendrothennal power plant central electrica diesel diesel (fired) power plant central electric a en la zona de una bocamina pithead power plant

centro de responsabilidad responsibility center [accounting1 centro de salud maternoinfantil mother and child health (MCH) center centro de utilidades profit center [accounting1 centro fuera de ]a sede outreach post centro integral de salud health maintenance organization - HMO

central hidroelectrica de agoa corrlente run-of-the-river hydroelectric power plant

centros internacionales de investigaciones agricolas international agricultural research centers - IARC

centralizacion pooling

cercos vivos live fencing

centro de capacitacion especializada skill training center

cereales alimentarios food grains

centro de comunicacion communication hub

cereales forrajeros feed grains

centro de cosms cost center

cereales panificables bread grains

centro de desarrollo de aptitudes skill training center

cereales secundarios coarse grain(s)

centro de excelencia excellence center [education]

certificado de deposito certificate of deposit

centro de genetica ganaden breeding unit

certificado de pago de impuestos tax clearance

centro de intercambio de informacion clearing house

certificado de participacion equity security

centro de inversion investment center [accounting]

certificado de terminacion completion certificate (of a project)

centro de perfeccionamiento skill training center

certificado de transrerencia de prestamos participation certificate; pass-through certificate

centro de reserva reserve center

certificado internadonal de deposito global depositary receipt - GDR

274 certificado para Ia compra de aceiones, bonos warrant [finance]

clasificacion cruzada cross-classification

Celie

de funeiones tennination

clasificacion del cridito, de creditOR, crediticia credit rating

cesion divestiture; divestment

Clasificacion Uniforme para el Comerclo Internacional- CUCI Standard International Trade Classification - SITC

cesion de activo. (de una 1I0eiedad) a cambio de actiones (de otra sociedad nueva) spinoff [financial market] ceslonario assignee chorreo trickle-down effect cicio combinado combined cycle [energy] cicio del proyecto, de los proyectos project cycle cicio economico business cycle; trade cycle cierre de las actividades close of business • c.o.b. cierre del presupuesto budget closure citra apro:Omada ballpark figure cifras efectivas actual figures cifras indicativas de planificacion - CIP Indicative Planning Figures - IPF [UNDP] drcuito de informacion feedback loop circulos empresariales, comerciales business community ciudad principal primal city

clausula con fecha de e:spiracion sunset clause c1ausula de ajuste de precio. price adjustment clause; price escalation clause; escalation clause c1ausula de arbitraje, compromisoria arbitration clause clausula de bonificacion bonus clause c1ausula de buena voluntad goodwill clause clausula de condidonalidad reciproca cross-conditionality clause c1ausula de escala movil escalator clause [wages]; sliding·scale clause clliusula de examen (periodico) (periodic) review clause c1ausula de exencion por derechos adquiridos grandfather clause c1ausula de i1egalidad illegality clause clausula de la nadon mas favorecida most-favored-natlon clause clausula de modification parcial bisque clause clausula de modificadon unilateral changes clause [US]

275 clausala de obJigaci6n neptiv&, de abstenci6n

negative pledge clause

c1aulUlas contractuales que estipulan 80meter 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

claulUla de IUscripci6n preferente

codetermination; comanagement; management 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 compartir los reembol108

quantitative coinsurance

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 package coverage [MIGA] mdente de ftaibilidad

flexibility quotient

~oeficiente

de explotaclon

working ratio coeficiente de importaciones (importacioneslprodu~cion total)

import coefficient mdirector lemisioDel de bono8]

colead manager

c:oeficiente de inestabilidad

volatility ratio [stocks] eoefidente alUlDD08-profesor, alumno8 por profesor pupil-teacher ratio - PTR; student-teacher ratio -

ooeficiente de insumo-produdo 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

meficiente de urp de la red system load factor [electricity] ~ciente

de mbertura de las importaciones

coeficiente de movilizacion mobilization ratio [IFC] coeficiente de ocupacion de Urg08 ladministracion de personal]

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

Spearman Spearman's rank correlation coefficient ~ciente

effective protection coefficient - EPC coeficiente de proteccion nominal nominal protection coefficient - NPC

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

food import dependency ratio

meficiente de recaudacion de impuesto8 tax performance ratio

c:oeficiente de endeudamiento

meficiente de rest"as, de liquidez

debt-equity ratio; debt-to-equity ratio; debt-to-<:apital ratio

reserve ratio [banking]

277 coeficlente de 8elDuu-personai basta la aprobaclon del pro)'ecto completion coefficient

cofinueiamiento vertical vertical cofinancing

coeficlente de IOlvencla [Espafta] current ratio; working capital ratio

cogesti6n comanagement; codetermination; management participation system

coeficiente de uniformidad smoothness ratio

jitney

coeficlente de utilizaclon de tierras

colectivo

land use ratio

colocacion [valores] marketing

coeficiente del serriclo de la deuda debt-service ratio

colocaclones cruzadas cross-placements

coeficiente del serviclo de 101 intereses interest service ratio

land settlement

coeficlente interinstitucional institutional ratio

combinaclon de especialidades skills mix

coeficlente minimo de encaje minimum cash ratio

combinaclon de flDuclamiento blending (of flows)

coeficlente modificado de Bmno modified Bruno ratio; internal exchange rate

combinacion de insum08 input mix

coeficiente neto de explotadon operating ratio

combinadon de monedas currency mix

coeficlente profesor-alulDD08 student-teacher ratio - STR.; pupil-teacher ratio PTR; teacher-pupil ratio

combination de produd08 product mix

coeficiente tributario tax ratio coeficlentes de caJidad de los activol asset quality ratios cofinudador cofinanc(i)er cofinuciamiento cofinancing cofinuclamiento ex post ex post cofinancing

colonizaclon

combustible de biomasa IdOla woodfuel combustible derivado del carbOn coal-based fuel combustible diesel diesel fuel; diesel oil combustible no contammute clean fuel combustible para calderas, barco. bunker; bunker oil combustible para calelaccion heating oil

278 combustible sintetico synfuel; synthetic fuel

comision de participacion en los costos cost-sharing fee [APDF]

combustion en lecho fluidizado fluidized bed combustion

comision de solicitud application fee [MIGA]

comerciabilidad marketability

comision del agente pagador paying agency fee

comerciable tradable [adj.]

comision inicial front-end fee

comerciales bigh-power(ed) money

comision inicial (por evaluacion) appraisal fee [IFC]

comercializable tradable [adj.]

comision ,or administracion de la AIF IDA management fee

comercializacion merchandising; marketing

comision por captacion de fondos success fee

comercio compensatorio countertrade

comision por compromiso, por inmovilizacion defondos commitment charge. fee

comercio de productos basicos, primarios commodity trade comercio de reexportacion entrepot trade comercio exterior foreign trade comision conjunta joint committee comisi6n de administracion management fee comisi6n de disponibilidad availability fee [IFC] comisi6n de garantia guarantee commission, fee [IBRD] comision de garantia de compra backup (underwriting) facility fee comisi6n de gestion management fee

comision por servicios service charge comision ,or tramitacion de soHcitud loan origination fee comisiones devengadas, acumuladas sobre prestamos accrued loan commissions Comite Asesor Tecnico - CAT Technical AdvisoI)' Committee - TAC [CGIAR] comite conjunto joint committee comite de adjudicacion awarding committee [contracts] Comite Provisional Interim Committee [IMF] comites conjuntos de fiscalizacion joint monitoring committees

279 eompaftia administradora, de administration, de gemon management company eompailia comisionista [emisiones de bonos1 commissioned company eompailia de eapital de riesgo venture capital company eompailia de fianzas bonding company compailia de inversiones investment company, fund eompailia de papel shell company eomparaeion de preci08 prudent shopping; shopping [procurement] eomparation internaeional de precios international shopping eomparaeion national de preci08 local shopping eomparatio (la) comparatio [staff compensation} eompensadon clearance; compensation; consideration [legal, economic]

eompeteneia por la obtention de recUI'8OS competing claims (on resources) compilado por edited by eompilador (de una eoleeeion de textos) editor eomplementaeion complementarity eomplementariedad subsidiarity eomplemento follow-up eompletamente desmontado completely knocked down - CKD eomponente component (of a project); slice [contracts] eomponente en divisas foreign exchange component eomponente fisieo hard component [projects} eomponente importado, de importaeion import component eomponente no fisieo, de serviei08 soft component [projects]

eompensaeion (de 'adores, de ventajas y desventajas) trade-off

componentes fisie08 hardware

eompeteneia skills

eomponentes logie08 software

eompeteneia basiea basic skills

componamiento performance

eompeteneia no reladonada con los preci08 nonprice competition

eomponamiento de la economia economic performance

eompeteneia perfecta perfect competition; pure competition

eomposieion de la produeeion product mix

280 composicion del capital social ownership structure (of a company)

compromisos netos exposure

compra a plazos hire purchase [UK]

compromisos por paises country exposure [ffiRD]

compra de bienes en existencia en el mercado off-the-shelf purchases

compuestos organicos volatiles volatile organic compounds - VOC

compra de una empresa con rondos tomados en prestamo leveraged buyout - LBO

computadora portitiI notebook computer

compra directa direct shopping [procurement] compra en gran des cantidades, en grueso bulk procurement comprobacion de cuentas audit [finance] comprobante de pago certificate of payment comprobar cuentas audit, to compromiso contingente [CFI] contingent commitment [IFC] compromiso contingente de garantia de suscripcion standby underwriting commitment [IFC]

computerizado computerized computo sobre una base anual annualization con alto coeficiente de capital capital-intensive con alto coeficiente de endeudamiento highly leveraged con alto contenido de importaciones import-intensive con bajo coeficiente de endeudamiento underleveraged con exceso de personal overstaffed con fines de lucro profit making

compromiso contingente de participacion en el capital social standby equity [investment]

con gran endeudamiento highly leveraged

compromiso de inversion [CFI] investment commitment [IFC]

con gran intensidad de capital capital-intensive

compromiso de prestamo lending commitment; loan commitment

con gran intensidad de importaciones import-intensive

compromiso de suscripcion de acciones equity underwriting

con gran intensidad de mano de obra labor-intensive

compromiso sin plazo 0 volumen definidos open-ended commitment

con recargo premium. at a

281 con uso intensivo de capital capital-intensive con vision bacia eI futuro forward-looking

condiciones socioeconomic status - SES; terms and conditions (of a contract) condiciones concesionarias, muy favorables concessional terms

concentracion excesiva de riesgos de financiamiento overexposure

condiciones concesionarias, muy favorables, en concessional; concessionary

concentracion mmma admisible threshold limit value - TLV

condiciones corrientes, comereiales, de mercado conventionaltenms

concentracion pareelaria land consolidation

condiciones de entrada en vigor conditions of effectiveness

concepto design

condiciones de mereado commercial conditions

conceliar un prestamo a travis de un consorcio (bancario, de financiamiento) syndicate a loan, to

condiciones de reembolso con pagos iguales de principal e intereses annuity-type repayment tenms

concesion claim [mining]; franchise

condiciones de Toronto Toronto tenms

concesion reciproca trade-off

condiciones de Trinidad Trinidad tenms

concesionario concessional~ concessionary

condiciones previas precedent conditions [legal]

conciliar reconcile

condiciones propicias, favorables enabling environment

conclusion bottom line

condiciones que deben cumplirse eligibility; eligibility conditions

conclusion de los procedimientos closure of the proceeding [ICSID]

condonacion forgiveness (of a debt)

condicion juridica legal status

condonacion (de una deuda) cancellation

condicion social status

condonacion de deudas, de Ja deuda debt forgiveness

condicionalidad conditionality

condonacion de una deuda debt cancellation

282 cooduccioo

coojuoto de medidas de rescate, de salvameoto

governance

rescue package

cooducto de comercializacioo

conjunto de medidas financieras financial package

cbaooel [trade] cooe:.doo de servicio

service lioe; service; supply lioe; connectioo [electricity]

conjuoto de medidas practicas technical package coomocioo civil

cooe:.doo domiciliaria

civil commotioo

house coonectioo coofereocia maritima

coomocion petrolera, producida por los precios 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 bill of ladiog

self·reliance configuracion de las cueotas corrientes

curreot accouot pattern congelacion freeze (of salaries, prices, etc.)

cooocimiento de embarque coo raenras, objeclooes claused bill of lading; dirty bill of ladiog cooocimieoto de embarque directo through bill oflading

congelacion de precios

price freeze congestion bottleneck congestion

cooocimieoto de embarque siD resenras, objeciones clean bill of lading cooocimieotos skills

buoching conocimieotos basicos conjuoto de bienes (obras, servicios, elemeotos) a Iicitar

basic skills

bid package

cooocimieotos basicos de aritmetica oumeracy

conjuoto de disposiciones, equipos, proyectos, actividades, financiamiento

cooocimientos especializados

package

expertise

conjunto de empristitos borrowing pool [ffiRD]

cooocimieotos tecoicos, tecnologicos

conjunto de medidas de poUtica

consejero counsel [ICSID]

policy package

koow·how

283 Consejo de Gobernadores Council of Governors [MIGA]

construccion-operacion-transferencia - COT build~perate-transfer; build~perate-turnover -

BOT consentimiento (a la jurisdiccion) consent (to jurisdiction) [ICSID]

construccion-propiedad-operacion - BOO

build~wn operate

conservacion de energia energy conservation conservation del suelo soil conservation considerar (una cuestion) desde el punto de vista de los roles del homhre y la mujer engender consignar (fondos) para un rm detenninado

construccion-propiedad-operaciontransferencia - CPOT build~wn~perate-transfer - BOOT consulta sobre posibles objeciones letter of no objection - LNO [imports] consultor en direccion de empresas, en administration de empresas management consultant

earmark. to (funds) consolidaciones arancelarias binding; bindings consolidar los vencimientos consolidate maturities, to consorcio (bancario) selling consortium, group, syndicate c()nsorcio (bancario, de financiamiento) syndicate [banking] consorcio (de coordinacion de la ayuda a un pais) consortium (for a country) consorcio de direccion, directivo management group; managing group

consumidor de bajo factor de carga low load factor consumer [electricity] consumidor de bajo voltaje low voltage consumer [electricity] consumo consumption bundle consumo calorifico heat rate consumo en la explotacion agricola on-farm consumption consumo suntuario, de ostentation conspicuous consumption contabilidad de costo total

full cost accounting consorcio garante underwriting syndicate constriction monetaria monetary stringency

contabilidad de costos cost accounting contabilidad de costos estindar standard cost accounting

construccion de viviendas no sujeta(s) a reglamentaciones unregulated housing

contabilidad de empresa, comercial business accounting

construccion progresiva de viviendas incremental building. housing

contabilidad de existentias stock accounting; stores accounting

284 cootabilidad de gestioo management accounting

cooteoido de oro gold content (e.g. of US dollar)

cootabilidad eo perlodos de ioflacioo inflation accounting

cootemdo teemco messages [agricultural extension]

cootabilidad eo valores de caja cash (basis) accounting

cooteo de trMico traffic count

cootabilidad eo valores deveogados accrual (basis) accounting

cootiogeote intake

cootabilidad gereoclal managerial accounting

cootingeote arancelario tariff quota

cootabilidad por ordeoes de trabajo, ,or pedidos job order accounting

sustainability

cootabilidad por partida doble double entry accounting cootabilidad por partida simple single~ntry accounting cootabilidad 8egUo el cOsto (valor) de reposidoo current cost (value) accounting; current value accounting; value based accounting

cootinuidad

cootraccloo slump cootracdoo del credito tightening of credit cootralor comptroler cootramemorial countermemorial [lCSID]

cootabilidad 8egUo el oivel geoeral de predos general price level accounting; price level accounting

cootrapartida balancing item. entry

contabilidad 8egUo registro de caja cash (basis) accounting

cootraprestadoo consideration [legal, economic]

cootabilidad 8egUo registro de derechos adquiridos u obligadooes cootraidas accrual (basis) accounting

cootratadoo aotidpada advance contracting

cootabilidad sodal social accounts contamioadores (persooas, industrias) polluter

cootratadoo de uoo 0 varios 8ervicios, adquisidoo de bieoes, etc., fuera de la empresa, etc. outsourcing; sourcing

cooteoedorizacioo containerization

cootratadoo de uno 0 varios servicios, adquisidoo de bienes, etc., fuera de la empresa, etc. sourcing; outsourcing

cooteoido de origeo oadooal domestic content

cootratacioo directa direct contracting [procurement]

285 contratar contract out. to

contrato con interes tope cap

contratista con rumza, afianzado bonded contractor

contrato con reembolso de costos cost reimbursable contract

contratista principal, primario

contrato de administracion, gestion management contract

main contractor; prime. principal contractor

contrato a porcentaje, de honorario porcentual percentage (fee) contract [consultants] contrato a predo fijo fixed cost contract; fixed price contract contrato a precios unitarios rate contract contrato a suma alzada lump sum contract [consultants] contrato a, de precio(s) unitario(s) unit price contract; admeasurement contract; remeasurement contract contrato aI costo mas honorarios (fijos) cost-plus (fixed fee) contract - CPFF; cost and fee contract contrato aI costo mas honorarios, mas porcentaje cost-plus contract contrato aI costo mas un porcentaje (honorarios) cost-plus percentage (fee) contract; cost-plus percentage of cost contract - CPPC contrato basado en una estimacion cuantitativa bill of quantities contract contrato basado en una lista de tamas schedule of rates contract

contrato de arrendamiento con opeion de compra finance lease; financial. full pay out lease contrato de arrendamiento operativo operating lease contrato de arrendamiento verdadero true lease contrato de compra contra entrega take-and-pay contract contrato de duracion indefinida open-ended contract; open-end contract contrato de fietamento charter party - c/p contrato de participacion en la produccion production-sharing contract contrato de participacion en las utilidades profit-sharing contract [MIGA] contrato de plazo fijo fixed term contract contrato de riesgo risk contract [oil] contrato de servicios ocasionales call order contract

contrato con base en una lista oficial de precios schedule contract

contrato entre iguales, entre compai1ias independientes arm's length contract

contrato con rmes especlficos celebrado entre el gobierno y el sector privado perfonnance contract

contrato firme de compra (sin derecho de rescision) take-or-pay agreement. contract

286 contrato fraccionado "slice and package" contract

control de la natalidad birth control

contrato global package deal contract

control de procesos industriales process control

contrato Have en mano turnkey contract, project

tariff privatization

contrato "mertado en mano" "market-in-band" agreement

control interno internal audit

contrato--plan performance contract

control mayoritario ownership (of a corporation)

contrato por cantidades aproximadas running contract

controlable manageable

contrato por cantidades indeterminadas indefInite quantity contract

conurbacion conurbation

contrato por meses-hombre man-month contract

convenio basico establishment convention; base convention

contrato por tiempo time-based contract [consultants]

convenio condicional de reembolso qualifIed agreement to reimburse [See also irrevocable agreement to reimburse.]

contrato "producto en mano" product in band contract contrato sobre la base de un presupuesto meta target contract contribution de contrapartida matching contribution contribucion territorial land tax control control control de existencias, inventario(s) inventoty control control de la contaminacion en la descarga end of pipe pollution control control de la dotacion de personal complement control

control empresarial del araneel

convenio de asuncion de pristamo loan assumption agreement convenio de credito de fomento development credit agreement [IDA] convenio de destinacion especial set aside agreement convenio de inversion [CFl] investment agreement [lFC] convenio de Iieencia, de concesion de Iicencia licensing agreement convenio de pristamo loan agreement convenio de pristamo entre d Banco y la eFI Master Loan Agreement convenio de pristamo subsidiario Subsidiaty Agreement [IBRDJ

287 convenio modificatorio amendment, amending agreement

conversion de la deuda en capital debt-equity swap; debt equity conversion

convenio Ialarial wage agreement

conversion en arancel tariffication

Convenio sobre Arreglo de Difereneias Relativas a Inversiones entre Estadol y Nacionalel de Otros Estadol Convention on the Settlement of Investment Disputes between States and Nationals of other States [ICSID]

conversion en efectivo encashment [IDA]

convenio sobre el proyecto project agreement convenio sobre imanciamiento para el proyecto project fund agreement convenio sobre un producto bbko, primario commodity agreement convenios intemaeionales sobre product08 bbicos international commodity agreements, arrangements conversion a la par conversion at par conversion contable de monedas translation (of currency)

conversion inmediata reconstitution convertidor catalitico catalytic converter cooperacion teenica entre paises en desarrollo CTPD technical cooperation among developing countries -TCDC cooperativa de produceion y exportaeionel agropecuarias pcultural nroduction and gport (apex) cooperative coordinador de una edieion editor copia autenticada conformed copy copia impresa hardcopy

conversion de activos finaneieros en valorel securitization conversion de deuda en program as de salud debt-for-health swaps conversion de empresas (publicas) en sociedades comerciales, entidades previstas en la ley de sociedadel corporatization conversion de la c1ase de inteRS rate basis conversion conversion de la deuda debt conversion

coqueria coke oven plant corral de engorde feedlot corral de vacunacion vaccination yard correccion monetaria monetary correction corredor (de cambio, de bolsa) broker corredor de valores securities dealer; securities firm

288 corretaje brokerage

costo de los empristitos borrowing cost

corriente (de fondos) en condiciones concesionarias concessional flow

costo de los empristitos con doble ponderacion double·weighted borrowing cost [IBRO]

corriente de capital equilibradora equilibrating capital flow corriente de fondos cash flow; funds flow; flow of funds corrientes de costos y benefidos streams of costs and benefits corrientes financieras financial flows corrientes oficiales official flows [development] cortavientos windbreak corte y extracdon de madera en trozas logging [foresUy] cortedad de talla stunting; nutritional dwarfing cosechas crops costo asociado associated cost costo de conversion, de modification redeployment cost costo de eficiencia de (los impuestos) la tributacion efficiency cost of taxation; excess burden of taxation

costo de los factores, al factor cost. at • f.e. costo de mantenimiento en existenda carrying costs, charges [goods] costo de oportunidad, de sustitucion opportunity cost costo de oportunidad social social opportunity cost costo de pueata en marcha start·up cost costo de reposidon, de sustitudon replacement cost costo del petriileo oil bill [national] costo en divisas exchange cost costo en divisas foreign exchange cost costo en moneda nacional local cost; onshore cost costo en recursos intemos domestic resource cost - DRC costo evitable avoidable cost costo extranacional offshore cost

costo de inactividad del capital canying cost (of capital); charge of capital

costo incluidos los impuestos tax-paid cost - TPC

costo de inversion capital cost

costo incremental 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 marginal cost

oostos del factor trabajo

costo marginal a largo plaze long-run marginal cost - LRMC; efficiency price;

labor costs cosios descentralizados

unit -managed costs

efficient price [electricity tariffs] costos economicos del proteccionismo costo marginal de mantenimiento de la capaddad marginal capacity cost - MCC

welfare costs of protectionism 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) recurrent costs, expenditures

crec:imiento lento sluggish growth

costos promediados rolled (costs)

crec:imiento urbano (no planificado) urban sprawl

costos relativ08 a monedas especi'ficas currency-specific costs

credito credit standing

costos salariales wage bill; wage costs

credito [finanzas] claim

costos sociales, COlectiV08 social costs

credito a los consumidores consumer credit

costos IUperiores a los previst08 cost overrun

credito acumulativo cumulative letter of credit

cotizaeion (de valores en la bolo) listing (of securities)

credito colectivo group credit

cotizacion al contado spot quotation

credito oon garantia de otro credito back-to-back credit

comaeiones price quotations [contracts]

credito de aceionistas, de participaeion equity-type loan; sponsored loan

cotizaeiones de prec:ios de equilibrio del mereado market-clearing quotations

credito de am working capita1loan

coyuntura business cycle; trade cycle creacion design; development crec:imiento (eoonomioo) sostenido sustained growth crecimiento autosostenido self-sustaining growth crec:imiento cero de la ,oblacion zero population growth· ZPG crecimiento inlUficiente stunting; nutritional dwarfing crecimiento intermitente stop and go growth

credito de compradores buyer credit; buyers' credit credito de contrapal1ida matching credit credito de emergencia bailout loan credito de exportacion, a la exportacion export credit credito de proveedores supplier credit; supplier's credit credito dirigido directed credit credito documental documentary credit

291 cridito eo. esp~ie credit-in-kind

creditos bip~arios mortgage financing

credito eo. tr&mitaclon pipeline credit

creditos que se traspasan carryovers

cridito estational seasonal credit

creditus traspasados canyovers

credito finaoclero financial credit

cresta araneelaria tariff peak

credito garantizado pOl' el Estado sovereign credit, loan

cria de gaoado, de aoimales animal husbandty

credito impositivo, tributario tax credit

criador breeder [agriculture]

credito impositivo POI' inversioues investment tax credit

crisis de liquidez liquidity squeeze

credito instituclonal formal credit

crisis petrolera, produtida pOI' los p~ios del petroleo oil shock

credito no institucional informal credit credito oficial a la exportacion official export credit

criterio de contamination total permisible bubble concept cronologia timepattem

credito para importationes con fines de ~ODstl1lction

reconstruction import credit - RIC credito para importaciones con "mes de rehabilitation rehabilitation import credit credito pOI' pago de impuestos en eI extranjero foreign tax credit credito presupuestario allotment; appropriation [budget] credito ~iproeo [FMI] swap credito renovable, rotatorio, ref"mantiable revolving credit

croquis sketch plan [architecture] cl1ldo de referenda benchmark crude; marker crude [oil] cl1ldo liviaoo, ligero de Arabia Saudita light Arabian crude; Saudi Arabian light crude cl1lZamiento absorbente line breeding cl1lZamiento continuo line breeding cuadraI' (una cuenta) balance, to (an account) cuadro schedule

292 cuasicapital quasi-equity cuasidinero near money; quasi-money cubierta forestal forest canopy cubierta vegetal plant cover cuenca de captaci6n catch basin; catchment area cuenca de captaci6n catchment area; catch basin cuenca de rebalse overflow basin cuenta basica basic account [balance of payments] cuenta de anticipos advance account; imprest account, fund

cuenta de ingresos y gastos, de perdidas y ganancias income (and expenditure) account cuenta de orden memorandum account cuenta de primas de emisi6n share premium account [lFC] cuenta de reconciliaci6n reconciliation account cuenta de resumen summary account cuenta de trMico traffic count cuenta de valores (en custodia) securities (custody) account cuenta del crMito credit account [IDA1 cuenta del prestamo loan account

cuenta de anticipos para la preparacl6n de un proyedo project advance account

cuenta especial secundaria second generation special account - SGSA

cuenta de capital capital account

cuenta reservada, especial eannarked account

cuenta de cierre summary account

cuenta subsidiaria, aunliar subsidiary account

cuenta de explotaci6n working account

cuenta transitoria suspense account

cuenta de explotaci6n, operaci6n operating account

cuentas de ingresos y gastos income and outlay accounts [national accounts]

cuenta de igualaci6n de tipOi de cambio exchange equalization account

cuentas diversas de caja sundry cash accounts

cuenta de ingresos revenue account [national accounts]

cuentas econ6micas ajustadas conforme a consideraclones ambientales environmentally adjusted economic accounts -

EEA

293 cueatu ,or eobrar accounts receivable; receivables

eultivo de decreclda recession crop

cuentas ,or pagar accounts payable

dIy farming; dIyland farming

cuentas lOclala social accounts

cultivo de tejidos tissue culture

cuenta subsidiarias del medio ambiente environment satellite accounts

cultivo de temporada eona short season (crop)

cuerpo de fundonarios publicos civil service

eultlvo en curvas de nivel contour fanning

euesti6n previa preliminaly question [ICSID]

cultivo en franjas alley cropping; strip cropping

cuestiones a las diferencias de roles del hombre ylamujer gender issues

cultivo en pendiente hillside farming

cuestiones que afectan a la mujer gender issues cuestiones relativas a las desigualdades entre los sexos gender issues cultivo field crop eultivo alimentario food crop cultivo alimentario basieo staple (food crop) eultivo arb6reo tree crop cultivo comerclal cash crop eultivo constante, continuo continuous cropping eultivo de decreclda flood recession crop

eultlvo de secano

eultivo en recesi6n recession. recessive cultivation cultivo en tierras de aluvi6n floodplain agriculture, cultivation eultivo extensivo field crop eultivo intercalado intercropping eultivo interealado, intermedio catch crop cultlvo migratorio shifting cultivation eultivo protector, de cobertura cover crop; nurse crop eultivo Unico, de un solo tipo 0 apede pure stand cultivo(s) asoclado(s) associated crops, cropping cultivos crops

294 cultivos de luera de estacion, de temporada out-of-season crop; off-season crop

cupones para la privatization privatmWon vouchers

cultivos de montaila, de tierru alto upland crops

curriculo curriculum

cultivos de rakes a1imentariu root crops

curriculo de estudios comun core curriculum

cultivos de rizomu rhizomes; rootstock crops

cursillo workshop [training]

cultivos dobles double cropping; sequential cropping

curso de actualization (para refrescar los conocimientos) refresher course

cultivos en hileru row crops cultivos minos silvoagropeeuarios multistory farming; multilevel farming cultivos multiples multicropping; multiple cropping cultivos multiples multiple cropping; multicropping cultivos para fines energeticos energy cropping cultivos simbioticos companion crops cultivos sucesivos double cropping; sequential cropping cumplimiento de contrato contract performance cuota arancelaria tariff quota cuota de importation import quota cupo arancelario tariff quota cupo de importacion import quota

curso de elementos intercambiables course interchange [education] curso de repaso refresher course curva de aprendizaje learning curve corva de indiferentia indifference curve curva de la ofena supply curve curva de posibilidades de production production possibility curve; transformation curve curva de rendimiento yield curve curva de transformacion transformation curve; production possibility curve curva salarial payline daios indirectos consequential damages daios y perjuitios previstos en un contrato liquidated damages dar de baja

scrap. to

295 dar en contrato contract out, to

de maduracion temprana, precoz 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 rainfed

terminate 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 labor-intensive

project brief datos brutos, sin elaborar

raw data

de vision hacia eI futuro forward-looking

key data

debenture [IE.UU] debenture (bond)

datos detallados microdata

dean (of the Board of Directors)

datos clave, buicos

decano

datos transversala

decision t4eita por vencimiento de un plazo

cross-sectional data [econometty]

lapse-of-time decision

de abajo arriba bottom up (approach) [projects}

statement

de alto coeficiente de mano de obra labor-intensive

declaraclon de gmos statement of expenditure - SOE

debase grass root(s) level, at the

declaradon de impuatos taxretum

de conformidad con las leya del mereado

declaraclon de ingresos taxretum

market-friendly de maduraclon tardia late maturing [crop]

decJaraclon

declaracion de intendon, de intenclones

letter of intent - LOI

296 declaracion de objetivos mission statement [EDIJ

deficit de la balnza en cuenta corriente external current account deficit

declaracion del impuesto sobre la renta income tax return

deficit de recursos resource(s) gap

declaraciones representations

deficit en cuenta corriente current account deficit

declinacion de responsabilidad disclaimer

deficit en cuenta corriente (excluidoslos ingresos por concepto de intereses) noninterest current account deficit

deduccion tax allowance deduccion estandar standard deduction [taxation] deduccion tributaria (por perdida, etc.) tax write off deduccion tributaria, de impuestos tax deduction deducidos los impuestos net of taxes deficiencia shortfall deficiencia de recaudacion undercollection [taxation] deficit gap; shortfall deficit comercial trade deficit deficit de caja cash deficit deficit de explotacion, operacion operating deficit deficit de rmanciamento financing gap; funding gap deficit de inversiones investment gap

deficit euluido eI pago de intereses primary deficit; noninterest deficit deficit fiscal fiscal gap deficit presupuestario budget deficit; budgetary gap deficit primario primary deficit; noninterest deficit deflacion deflation deflactar deflate, to deflactor deflator deflactor de los compromisos commitment deflator deflactor de los desembolsos disbursement deflator deflactor de precios del PNB GNP price deflator deflactor implicito implicit deflator deflactor implicito del producto intemo bruto implicit gross domestic product deflator deforestacion deforestation

297 degradacion ambiental environmental degradation

densidad de siembra plant population

dejar de reunir las condiciones para recibir financiamiento del Banco graduate, to [Bank, IDA]

denuncio claim [mining]

delegacion de atribuciones, facultades delegation of authority deliberaciones de sesion(es) proceedings demanda claim demanda agregacla, global aggregate demand demanda bioquimica de o:dgeno • DBO biochemical oxygen demand - BOD

departamentalizacion de la enseianza departmentalization [education] departamento de (servicios de) apoyo support department [IBRD] departamento de operaclones operating department; operational department [IBRD] departamento de operaclones, sectorial, de ejecucion line ministry, department departamento de servicio, de asesoramiento staff department

demanda bioquimica de o:dgeno en cinco dias DBOS biochemical oxygen demand over five days BOD5~ five day biochemical oxygen demand

departamento ejecutivo, de ejecucion, de operaclones line department

demanda de los consumidores consurnerdemand

dependencia de la ayuda exterior aid dependency

demanda intensa buoyant demand

Depositario Trustee [GEF}

demanda reprimida pent-up demand

deposito a la vista demand deposit; sight deposit

lag~

demora slippage

deposito a plazo term deposit

demora respecto del plazo previsto time overrun

deposito a plazo, a termino time deposit

denominacion comiin nonproprietary name

depOsito de aduanas bonded warehouse

denominado denominated in (dollars, etc.)

deposito de decantacion de residuos tailing pond

densidad de carga stocking rate [livestock]

deposito de pagares note deposit [IDA]

298 bonding [customs]

derecho de expropiacion eminent domain

depOsito en custodia escrow account

land tenure rights

depOsito en garantfa, en custodia escrow

derecho de usufructo beneficial interest

deposito previo, anticipado advance deposit

derecho de via right of way

depOsitos icid08 acid deposition

derecho de voto voting right

depreciacion acelerada, decreciente accelerated depreciation

derecho por pie stumpage fee

depreciation acumulada accrued depreciation; accumulated depreciation

derecho prioritario, preferential, de preferencia, de prelacion first refusal right; preemptive right

depOsito en almacin de aduanas

depreciacion de equUibrio breakeven (dollar) depreciation depreciacion diferida deferred depreciation derecho claim derecbo (aduanero) ad valorem ad valorem (customs) duty derecho(aduanero)especifico specific (customs) duty derecho antidumping antidumping duty derecho aplicable governing law derecho arancelario tariff derecho compensatorio countervailing duty derecho de aduana, de importacion tariff

derecho de tenencia de la tierra

derecho procesal, adjetivo, de forma adjective law; procedural law derecho procesal, adjetivo, de forma procedural law; adjective law derecho sustantivo, de fondo substantive law derechos arancelarios tariff rates derechos de matricula tuition fees derechos de propiedad proprietaIy rights derechos de suscripcion stock rights [IFC] derechos de voto voting power derechos poJ1uarios haIbor dues, fees; port dues desagregaciOn unbundling

299 desagregaclon de riesgo8 rmanciel'08 unbundling of financial risks

descascarar husk, to; dehusk, to

desahorro dissaving

descompoticiOn unbundling

desajuRe entre tipos de cambio misalignment (ofrates of exchange)

descontar discount, to [finance}

desarrollo development

descripcion de cargo, puesto job description

desarrollo institucional institution building

descuento discount

desarroUo integral de la explotaciOn agricola whole:farm development

descuento cambiario exchange discount

desarrollo participatorio, con participacion participatory development

debt sales

desarrollo sostenible sustainable development

descuento del impuesto potencial tax sparing

desarrollo subregional area development

descuento impositivo, tributario tax credit

desarrollo t6cnico engineering development

desechar scrap, to

desastre provocado por el hombre man-made disaster

deseconomias diseconomies

desatesoramiento dishoarding

desembolsos concentrados aI comienzo de un periodo front loading

desbroce clearing descapitalizar decapitalize descargade efluentes eftluent charges descarga de gases acidos, ricos en productos azufrados sour gas discharge descascarar dehusking; husking

descuento de instrumento8 de deuda

desempefto performance desempefto de la eeonomia economic performance desempefto de las instituciones institutional perfonnance desempleo encubierto, oculto, disfrazado concealed unemployment; covert, disguised, hidden unemployment

300 desempleo estructurai structural unemployment

desbidratacion por conaelacion

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, hidden unemployment

disinflation

desertion

disinfiationary

desinflacionario

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 seasonally adjusted

45 del Convenio)

desf'ase

deslizamiento (de un tipo de cambio dentro de una banda)

lag; slippage

discontinuance [ICSID]

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

clearance

desvinc::ulacion de la ayuda untying of aid

desparasitar deworm

desvincular delink, to [foreign exchange]

despegue

desvincular (el tipo) unpeg (a rate), to

despadlo aduanero

take-off despeje

clearance desperdicio

deterioro ambiental environmental degradation

waste; loss in weight [commerce]

determinacion de costos costing

despido termination

determinacion de costos directos direct costing

desplazamiento crowding out

determinacion de precios sociales social pricing

desplazamiento de la demanda demand shift

determinacion de un proyecto, de proyectos project identification

desreglamentar deregulate

determinacion del costo de un preuamo loan pricing, costing

desregular deregulate

determinacion del precio de costo cost pricing

destinado por so propia indole a determinados grupos de la poblacion self-targeting (commodity)

deuda amortizada retired debt

destinar (fondos) para un fm determinado earmark, to (funds) desutilidad disutility desutilidad marginal marginal disutility desviacion de los salarios wage drift desviacion estandar standard deviation desvinculacion (de divisas) delinking [foreign exchange]

deuda anulada cancelled debt deuda con garantia publica publicly gua:ranteed debt deuda con los bancos comerciales, privados commercial debt deuda consolidada funded debt deuda de pago dudoso bad debt deuda desembolsada y pendiente debt outstanding and disbursed - DOD

302 deuda dudosa, de cobl'O dudoso doubtful debt

devolucion de impuestos tax refund

deuda externa pendiente external debt outstanding

man-day

deuda externa pendiente outstanding external debt

dialanidad transparency

deuda externa total total external debt - EDT

diagrama de banas barchart

deuda incobrable bad debt

diagrama de dispersion scatter chart, diagram; scattergram

deuda notificada

diagrama de movimiento, de flujo, de produccioo, de secuencia, de procedimiento flow chart; process chart

reported debt deuda pendiente debt overhang deuda prioritaria senior debt, loan deuda publica official debt deuda publica public debt deuda publica del Estado, en poder de particulares publicly held government debt deuda reciproca reciprocal debt deuda subordinada junior debt; subordinated debt deuda vencida debt due deuda(s) reciproca(s) interlocking debt deudu anteriores con condiciones menos favorables lower quality old debt

dia-hombre

diagrama de red(es) network diagram diagrama de situacion working table; performance chart; management chart diu de atraso en el pago de las cuentas por cobrar days receivable dictamen con reservas qualified opinion [auditing] dictamen juridico legal opinion dictamen legal memorandum of law diesel diesel fuel; diesel oil dieta subsistence allowance diferencia gap diferencia entre los margenes

spread of spreads

303 diferencia entre 101 preciOl price differential, spread

dinero de alta potencia [teoria monetarista] high-power(ed) money

diferenda entre tipos, tasas de interis interest-rate differential

dinero de la R.esen'a Federal de 101 EE.UU. para UIO de 101 banco. high-power(ed) money

diferenda negativa carrying loss

diferencia por la cuallas cantidades devengadas son inferiores a las previstas underaccruals

dinero e1astico elastic money dinero en eI sentido estrido narrow money

carrying gain

dinero en sentido amplio broad money

difereneia(s) de tipos de cambio exchange rate differential

dinero eseuo, caro tight money

difereneias aranedarias tariff wedges

dinero exigible call money; day to day money; demand money; money at call

difereneia positiva

diferimiento impositivo tax deferral dificultades eeonomicas economic hardship

dinero inactivo idle cash dinero negro black money

dificultades finaneieras graves :financial distress

dilema del prisionero prisoner's dilemma dilueion del capital (accionario) stock dilution, watering; dilution dinamismo buoyancy [economics] dinero a la vista call money; day to day money; demand money; money at call dinero bancario bank money

dinero primario reserve money; base money; high-power(ed) money dique bund dique en CUn'a de nivel contour bund direction front office; governance; line management direction de impuestOl tax office direction de la institution, empresa corporate management

dinero barato, abundante easy money

direccion portoaria port authority

304 directivoprincipal senior manager

disefto de un proyecto, de proyectos project design

directiV08 managers

disefto demasiado ambicio80 overdesign

director dd proyedo project manager

disefto detallado detailed design, engineering

Director Ejecutivo Executive Director

disefto excesivo para las necesidades overdesign

director ejecutivo con doble funci6n (en el BIRF yelFMI) dual executive director

disefto tecnico engineering design

Directorio Ejecutivo Board of (Executive) Directors; Executive Board [IBRD, IDA] Directori08 del Banco y del Fondo Boards of the Bank and the Fund directrices guidelines discordancia entre los vencimient08 maturity mismatch

disefto tecnico preliminar engineering, preliminary disminuci6n drawdown; shortfall dispensa (de una obligaci6n) waiver dispensar (de una obligaci6n) waive, to dispensario health post

discrepancia impositiva tax wedge

discriminacl6n sexual gender issues discurso principal keynote address, speech diseftador designer disefto design; layout disefto con ayoda de computadoras computer aided design - CAD disefto conceptual conceptual design

disponibilidades liquid assets; quick assets disponibilidades (de equipo) availability [transportation] disponibilidades de viviendas housing stock disposici6n para pagar willingness to pay - WTP disp08iciones de comercializaci6n ordenada orderly marketing arrangements - OMA disposiciones de control de cambios exchange control regulations disposiciones pracesales procedural orders [ICSID]

305 disposiciones transitorias bridging arrangement, credit

dividendo enraordinario surplus dividend

breakdo~;

distribucion layout

divisa de reserva reserve currency

distribucion de aguas waterspreading

divisa(s) de libre convertibilidad free (foreign) exchange

distribucion de la carga [donantes] burden sharing

divisas foreign currency, exchange

distribucion de las utilidades allocation of profits; appropriation of profits

division de la enseilanza departmentalization [education]

distribucion de los costos cost sharing

divulgacion extension [agriculture]

distribucion de los recursos allocation of resources

doble clasificacion cross-classification

distribucion del financiamiento (entre los paises) direction of lending

doble tributacion, imposicion double taxation

distribucion del importe, de los fondos del prestamo allocation of loan proceeds distribucion optima de los vencimientos market timing distribucion reservada restricted distribution disyuntiva

documentacion de apoyo justification documento de antecedentes, de informacion blisica background paper documento de especificacion de servicios laborales performance work statement - PWS

trade-off

documento de exposicion de problemas issues paper

divergencia entre tipos de cambio misalignment (of rates of exchange)

documento de informacion sobre el proyecto Project Information Brief - PIB

diversidad biologica biodiversity

documento de politica (sectorial, financiera, etc.) policy paper

diversificacion de los riesgos exposure diversification dividendo en acciones bonus issue; stock dividend

documento de referencia cruzada, comparacion crosswalk document documento de trabajo discussion paper

306 documento del Manual de Adquisiclones Procurement Manual Statement - PMS

donante principal lead donor

documento del Manual de Operaeiones Operational Manual Statement - OMS

dOl ritmos, trayeetori.. de desarrollo two-tmck development

documento del Manual del Personal Personnel Manual Statement

forest canopy

documento expositivo 5Obre.•• approach paper

dotaclon de capital capital endowment

documento para un seminario seminar paper

dotaclon de personal

documentos contraetuales contract documents

dotacion minima de personal core staffing

documentOl de licitacion bidding documents; tender documents

dotar de los medios empower

documentOl de precalificacion prequalification documents

dotar de personal staff, to

documentos justificativos justification

drenaje de ago.. Duvi.., pluviales storm water drainage system

dolarizacion dollarization

dumping dumping

dominio eminente eminent domain

duraeion life (of a project)

donacion grant-in-aid

duraeion de un proyecto project life

donacion de contrapartida matching grant

duration util economic life

donacion en capital equity grant

ecolog{a, si en mi barrio, no NIMBY (not-in-my-backyard)

donacion en efectivo cash grant

ecologistu environmentalist

donacion en, para equipos equipment grant

economia abierta open economy

donacion para imes especfficos, para un im especffico categorical grant; targeted grant

economia de consumo consumption economy

dosel forestal

staffing

307 economia de la oferta, basada en la oferta supply side economics

economfas de diversificaci6n economies of scope

economia de Iibre empresa free market economy; free-enterprise economy

economias de escala economies of scale

economfa de monocultivo single-crop economy

economfas de ubicaci6n localization economies

economfa de planificaci6n centralizada centrally planned economy (country)

economias de urbanizaci6n wbanization economies

economfa de subsistencia subsistence economy

economista principal principal economist

economia del bienestar welfare economy

economista principal (de un departamento geogrMico) lead economist

economia del retroceso economics of regress economia del sector publico public economics economfa dependiente de la exportaci6n de un solo producto export-enclave economy economia dirigida command economy; controlled economy; directed economy; managed economy economia interna, nacional domestic economy economia monetaria cash economy

economista principal (Oficina Regional) chief economist economista superior senior economist ecuaci6n de regresi6n regression equation edici6n mediante microcomputadora desktop publishing editar edit (texts for publication) editor (de un texto) editor educaci6n a distancia

economia no de mere ado nonmarketeconomy economia subterranea, paralela parallel economy; black economy; underground economy; submerged economy economia(s) avoided cost economias de concentraci6n agglomeration economies

distancel~n&t~ching

educaci6n blisica basic education educaci6n extraescolar out-of-school education educaci6n formal, academica formal education educaci6n informal informal education

308

edu.cad.cSn no formal nonformal edu<.:ation

efecto en, IObre 101 predol price effect

educadcSn permanente continuing education; lifelong education; recurrent edu<.:ation

efecto generalizado blanket effect

edu.cacicSn JeCUIldaria de dclo superior upper secondary edu<.:ation educaci6n JeCUIldaria de primer dclo, de dclo bWco lower secondary edu<.:ation

efecto (0 beneficio, etc.) mediato downstream effect. benefit efedo IeCUDdario pass-tbrough effect efecto IeCUDdario, derivado spinoff effect; spillover effect. impact

efectivOllaborales return of labor

efedo de anuncio announcement effect efecto de eapUaridad, aseendente bubble-up effect efecto de eaptacl6n Inddental de benefidarios snatching effect

efecto IeCUDdario de urbanizaclcSn induced development effect; boomtown effect efectos paper [financial] efectos comerdales commercial bills; commercial paper efectos de comerdo por cobrar trade receivables

efedo de concentracicSn focusing effect

efectos en eobro, cobranza float [banking]

efecto de demostrad6n demonstration effect efecto de Oa) rattradcSn trickle-down effect efecto de Ingrao, de renta Income effect efedo de Invemadero greenhouse effect efecto de primera clue prime bill efecto de sustitucicSn substitution effect efecto de trinquete ratchet effect

efedos eDemos externalities [projects] efectos financieros financial paper efedos negociables eligible paper efectos publicos government paper efectos publlcos, del Estado government securities efectuar una operadcSn de swap, de Intercambio de mooeda, de credito redproco swap, to [finance] 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 fuel efficiency

elaboraciOn de material fabricado en otro pais 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 wet process [cement manufacture]

x-efficiency

cost-effective

elaboradon por via aeca my process [cement manufacture]

eficiente y de costo minimo

elasticidad-ingreso

cost-effective

income elasticity

egresadOi output

elastiddad-ingreso de la demanda income elasticity of demand

efidente y de costo mM bajo

ejecudon (de una hipoteca)

elasticidad-precio

foreclosure

own price elasticity; price elasticity

ejecucion de un contrato leeUn SUI termiOOI specific perl'onnance

elasticidad-precio cruzada

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

leverage, to

elastiddad coBstante de snstitucion 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 ingreso

eliminacion de desechos 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 tax elasticity

write off, to

elasticidad igual a la unidad unit(ary) elasticity

phase out, to

eliminar por etapas, progresivamente

elasticidad tributaria global tax buoyancy elegibilidad para participar en una Iicitacion

elusion del pago de aranceles (mediante el establecimiento de una empresa en el pais) tariff jumping

eligibility to bid

elusion legal de impuestos 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, intemos, intrinsecos built-in stabilizers

emision de acciones (con derecho preferencial de suscripcion) rights issue, offering

elementos no fisieos software

foreign currency issue

elementos nutritivos(as) nutrients

red herring issue

emision en divisas

emision exploratoria

311 emisi6n fidudaria note issue

empresa en plena aetividad y crecimiento going concern; growing concern

emisi6n ofredda aI publico public offering. borrowing

empresa estatal state-owned enterprise - SOE

emisiones (de obligadones) en Europa European flotations

empresa matriz parent company

emisiones de organismos federales agency securities, obligations [u.S.1

empresa mhta mixed enterprise

emitidos mediante ofen. publica publicly issued (bonds, etc.)

empresa mixta, semipublic&, p&ramatal semipublic company

empalme splicing

empresa produetiv&, que produce ingresos revenue-eaming enterprise

emplazamiento (de un proyecto) site

empresa publica public corporation

empleado "fantasma" ghost worker

empresa receptora del proyecto project enterprise [MIGA1

empleado contratado localmente local employee [IBRD]

empresarlo entrepreneur

empleo de (los) fondos application of funds

empresas asocia. pertenecientes aI mismo gmpo sister companies

empleos de referenda benchmark jobs empresa comisionista commissioned company empresa con pocos ac:eionistas closely-held corporation empresa conjonta joint venture empresa de obras y servidos de infraestructura infrastructure developer empresa de servicios publico. public utility corporation empresa del proyeeto project enterprise [MIGA]

empresas de servicios publicos utilities empresas maquiladoras in-bond industries emprestito loan capital emprestito de suma global lump sum borrowing [IFC] emprestito reembolsable de una sola vez a su vencimiento bullet issue emprestito reembolsable de una sola vez a su vendmiento bullet issue

312 emprestitos ealifieados qualified borrowing(s) [currency pool] emprestitos eompensatorios, contra depositos offset borrowings emprestitos en el exterior foreign borrowing emprestitos giganteseos jumbo borrowing(s) emprestitos pendientes de utilizacion undrawn borrowings en armonfa con, que armonice con el mere ado market-friendly

eneaje legal legal reserve; minimum cash ratio; minimum cash requirement; reserve requirement encaje legal adicional marginal reserve requirement encargado de una edicion editor encargar commission. to encomendar commission. to encuesta survey

en condiciones concesionarias, muy favorables concessional; concessionary en el margen at the margin

encuesta (de seecion) transversal cross section(al) survey encuesta basica baseline survey

en el muelle (derecbos por euenta del comprador) ex quay (duties on buyers' account)

encuesta de actitudes Attitude Survey [IBRO]

en existencia off-the-shelf

encuesta de gastos familiares household expenditure survey - HES

en pleno funcionamiento full development;, at [project]

encuesta longitudinal longitudinal survey

en terminos, cifras corrientes current terms, in

encuesta muestral, por muestreo sample survey [statistics]

en terminos, cifras reales real terms, in

encuesta por, de bogares household survey

enajenar a titulo oneroso dispose (of) for value, to

encuesta puntual one-shot survey

enanismo nutricional stunting; nutritional dwarfing

endeudado en exceso overgeared

encaje circulante, notante floating cash reserve

endeudamiento formso 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 UHF link [telecommunications]

conventional energy energia de fuentes renovables

renewable energy

enlace VHF, en freeuencla muy alta VHF link [telecommunications]

energia entregada

enmienda presupuestaria presidential

delivered energy

budget amendment [U.S.]

energia final, secundaria

enmiendas aI Convenio Constitutivo amendments to the Articles of Agreement

final energy; secondary energy 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, no concesionarias hard loan window

waterborne disease eufermedad vineulada con la falta de higiene

water-washed disease

entidad paraestatal

parastatal [noun]

314 entomo propiclo, favorable enabling environment

equilibrio fiscal, del presupuesto fiscal balance

entrada intake

equipo de computaciiin bardware

entrada de capital capital inflow

equipo de conmutaciiin switching equipment [telephone]

entrada en vigor de un convenio effectiveness of an agreement

equipo de evaluaci6n appraisal team [IFC]

entrada returns; revenues

equipo de perforadiin petrolera oil (drilling) rig. platfonn

entrada de fondos cash inflows

equipo(s) equipment

entrar en producdiin stream, to go on

equivalente de subsidio aI consumo consumer subsidy equivalent - CSE

entrega futura, a plazo forward cover

equivalente de subvendiin de precios aI productor producer price equivalent - PPE

entregado con derechos pagados delivered duty paid - DDP entregado en frontera delivered at frontier - DAF entregar release. to [capital] envio referral; shipping envio en comisiiin de servido secondment

equivalente en ailos-personal staffyear equivalent - SYE equivalente en donadiin grant equivalent escala de precios price range escala decreciente degressive scale escalada de tarifa

tariff escalation epizootia epidemic disease [livestock]

escapatoria tributaria tax loophole

equidad equity equidad horizontal horizontal equity equidad vertical vertical equity

escasez de diilares dollar gap escorrentia runoff [water] escritura de constituciiin articles of incorporation; charter (of a company)

315 escritura de constitucion de deuda deed of trust

espado libre clearance

escritura de fideicomiso deed of trust

especialidad (farmaceutica) brand name drug

escritura social charter (of a company)

especializacion advanced training

escuela de aplicacion demonstration school~ laboratory school~ model school~ practice school

key species

escuela diversificada, polivalente comprehensive school escuela experimental demonstration school; laboratory school~ model school; practice school escueJa organizada por seeciones streamed school escuela preparatoria contributory school; feeder school; preparatory school escueJa secundaria de primer cicio junior high school escurrimiento runoff [water] esferas empresariales, comerciales business community esfueno propio self-help esfueno tributario tax effort eslabonamiento descendente de una industria forward linkage of an industry eslabooamientos interindustriales, entre industrias interindustry linkages espaciamiento de los nacimientos birth spacing

especies esenciales

especificacion de servicios laborales performance work statement - PWS especificaciones de funcionamiento performance specifications especifico brand name drug especimen de firma autenticado authenticated specimen of signature especuJacion (en la Bolsa) aprovecbando informacion interna insider dealing, trading especulador (en la Bolsa) que aprovecba informacion interna insider dealer, trader esperanza de vida life expectancy esperanza matematica mathematical expectation [mathematics] espiral salarios-precios wage-price spiral espiritu empresarial entrepreneurship esquela tombstone esquisto bituminoso oil shale

316 estabilizacion

estado de Bujo de fondos

leveling off

statement of changes in financial position; sources and application offunds statement~ funds statement; working capital statement; source and use of funds statement; funds flow statement; changes in working capital statement; statement of sources and applications of funds; statement of cash flows [World Bank]

estacion (de bombeo) de refuer.zo, de rebombeo

booster (pumping) station estacion elevadora

step-up power station estacion reductora

step-down power station estadaa laydays~

Jaytime

estadastieas del estado civil, vitales

vital statistics

estado de fuentes y utilizacion de fondos statement of changes in financial position; sources

and application offunds statement; funds statement; working capital statement; source and use offunds statement; funds flow statement; changes in working capital statement; statement of sources and applications of funds; statement of cash flows [World Bank]

Estado

estado de gastos

government

statement of expenditure - SOE

estado

status

estado de ingresos y gastos, de perdidas y ganancias

Estado aereedor

income statement [US]; profit and loss account [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 statement of account

interim financial statement Estado que puede adherirse

estado de euentas por eobrar seg6n fecha de vencimiento

aging schedule [accounts receivable1

State eligible to sign (the Convention) [ICSID1 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 stagflation

estructura structural work

estanques de sedimentaci6n sedimentation ponds

estructura de cabecera head gate structure [irrigation]

estercoladura de base basal dressing; bottom dressing

estructura de capital capital structure

estercoladura de superficie top dressing [agriculture]

estructura de la producci6n product mix

estimaci6n cuantitativa bill of quantities

estructura del capital social ownership structure (of a company)

estimaci6n cuantitativa con precios priced bill of quantities

trade pattern

estimaci6n de costos cost estimate

estructura iostituciooal institutional framework

estimaci6n de la base impositiva tax assessment; assessment for tax

estructura organica organizational structure

estimaciones cuantitativas preIimioares preliminary estimates of quantities

estructura social corporate structure

estimaciones presupuestarias budget estimates

stepped tariff structure

estimador de materiales quantity surveyor

estructuras met8Jicas metal works

estimulo incentive

estudiante (que no ha recibido eI primer titulo universitario) undergraduate

estipulaciones covenants [loan agreements] estrangulamiento bottleneck estrategia ante (de) la deada debt strategy estres ambiental environmental stress estres por falta de humedad moisture stress

estructura del comercio

estructura tarifaria escalonada

estudio survey estudio (ambiental) preIiminar environmental screening estudio (de evaluaci6n) del sector privado private sector assessment - PSA estudio aeromagnetico aeromagnetic survey; airmag survey 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 environmental review

estudiOl operacionales

estudio de preinvenion

estudios posteriOrel al primer titulo univenitario

preinvestment study, survey

operational review

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 desk study

undergraduate studies etapa inidal

estudio preliminar

development period (of a project, of a company)

reconnaissance survey estudio sismieo

etiquetas verdes green labeling

seismic survey eurobonOl estudio 80bre un pais, paises

Eurobonds

country study euroemisiones estudios avanzados bigher training

Euroissues

estudios avanzados, superiores, de perfeceionamiento

Eurosterling

advanced studies

evaluacion

euroesterlina

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 audit; management audit [management]

evaluaciOn ex post comblnada cluster audit

evaluacion ambiental environmental assessment - EA

evaluacion ex post de un proyecto, de proyectos project evaluation, audit

evaluaciOn con la participacion de los beneficiarios beneficiary assessment

evaluacion ex post, a posteriori ex. post evaluation

evaluaciOn con la participacion de los babitantes de las zonas I1lrales participatory rural appraisal, analysis - PRA evaluaclon de funciones diredivas staff audit evaluacion de la pobreza COD la participacion de los afectados participatory poverty assessment - PPA evaluacion de los coslos durante la vida util (de equipos) life cycle cost evaluation evaluacion de los efectos ambientales environmental impact assessment - EIA evaluacion de los efectos sociales social impact assessment - SIA

evaluacion general, integral, a fondo comprehensive auditing evaluaclon Incorporada en los proyectos built-in evaluation [projects] evaluacion inicial (tb.:nica y economica) appraisal (technical and economic) evaluacion medica periodica periodic health assessment - PHA evaluacion preliminar preappraisal evaluacion previa appraisal (technical and economic) evaluacion previa, ex ante ex. ante evaluation evasion (iJegal) tributaria, rISeal, de impuestos

evaluacion de los resultados audit [projects] evaluacion de recursos energeticos energy assessment evaluacion de resultados performance audit evaluacion del imp ado ambiental environmental impact assessment - EIA evaluacion ex ante appraisal (technical and economic) evaluacion ex post evaluation [projects] evaluacion ex post abreviada de un proyecto pass-through audit [IBRD]

tax. evasion evasion legal de impueRoS tax. avoidance evolucion development ex officio ex.-officio [ICSID] ex participante fellow [EDI] examen examination (of witnesses or experts) [ICSID] examen (ambiental) sabre el terreno environmental reconnaissance

320 examen de Ia ej~ucion de proy~tos sectoriales sector implementation review - SIR enmen de la ej~ucion del (de un) proy~to project implementation review - PIR

exclusion del rigimen de contabilidad en valores devengados nonaccrual status excretas night soil

examen de mediados del periodo (de una reposicion) Midterm Review - MTR [IDA]

exencion (de una obligacion) waiver

enmen de mitad del ejercicio, de mitad de aDo midyear review

exencion de impuestos tax exemption

examen del uso de la energi'a energy audit

exencion parcial waiver

exam en medico health screening

exencion tributaria tax allowance

edmenes achievement tests [education]

exento de derechos duty-free

excedente overhang

exigencia claim

excedente de capacidad excess capacity

exigible callable (capital, subscription)

excedente del consumidor consumer surplus

exigir el agotamiento previo de las vias administrativas 0 judiciales (de un Estado) exhaustion of local administrative or juridical remedies [ICSID]

exceder el objetivo overshoot excepcion de incompetencia objection to jurisdiction [ICSID] exceso de empleo overemployment

exigir el reembolso anticipado de un prestamo accelerate a loan exigir el reembolso de un pristamo call in a loan, to

exceso de inversiones overinvestment

exigir el reembolso de un pristamo antes de su vencimiento accelerate a loan

exceso de olerta overhang

eximir (de una obligacion) waive, to

exceso de personal redundancy [staffing]

existencias inventory; inventories existencias reguladoras buffer stocks

321 exoneradon temporal (pardal 0 total) de impuestos tax holiday

exportaciones de excedentes del mereado interno spillover exports

expansion de la masa monetaria monetary expansion

exportaciones en regimen de trueque bartered exports

expansion monetaria monetary expansion

exportador de petroleo con deficit de capital capital-deficit oil exporter

expatriado expatriate

exposicion statement

expectativas inOacionarias inflationary expectations

expresado denominated in (dollars, etc.)

expectativas racionales rational expectations

expresar en cifras netas net out

experiencia skills

extension extension [agriculture)

expertos expertise

extension agricola agricultural extension

expertos en medio ambiente environmentalist

extensionista agricultural extension officer - ABO; extension agent, worker

explotacion development

externalidades [proyectos) externalities [projects)

explotacion a cielo abierto, a tajo abierto

strip mining; open pit, open cast, open cut mining

extracci6n offi:ak:e [livestock]

[Chile)

explotacion agricola

extraccion de madera

farm

logging [forestry}

explotacion forestal logging [forestry)

extraccion exeesiva de irbcles tree mining; forest mining

explotacion inicial initial operation

extracto

exportable 0 importable tradable [adj.]

extraeto de euenta statement of account

exportaciones de bienes y servicios exports of goods and services - XGS

extraordinaria below the line (item)

abstract (of a publication)

322 fabrieadon "Justo a tiempo" just in time (JI1) manufacturing

fabric:adon con ayuda de c:omputadoras computer aided manufacture - CAM fabric:ac:ion de ac:ero en hogar abierto, en homo Martin-Siemenl open-hearth steelmaking fabric:adon por via hOmeda wet process [cement manufacture] fabric:adon por via seca dIy process [cement manufacture] faaimO de firma autentic:ado authenticated specimen of signature factor conc:esionario, de donadon concessional, concessionary element; grant element factor de c:arga load factor [electricity] fador de conversion basado en eI c:onsumo consumption conversion factor - CCF fac:tor de c:onvenion estAndar standard conversion factor - SCF fador de desc:uento, ac:tualizadon discount factor fador de disuasion, disuasivo deterrent fador de fondo de amortizadon sinking fund factor factor de intere. compuesto compounding factor factor de reeuperac:iOn del c:apital capital recovery factor - CRF fac:tor de revaluac:iOn revaluation factor [currency pool]

factoraje factoring fadores de atrac:don (dellugar de destino) relac:ionados c:on la demand a demand-pull factors fadores de redlazo (dellugar de origen) reiadonados con la oferta supply-push factors fac:ultad authority [legal] fac:ultad de adquisidon de c:ontratos con intere. tope Global Cap Authority [IFC] fac:ultad de otorgar garantias guarantee authority fac:ultad dedsoria, de decision decision-making power fac:ultad legal legal authority fac:ultad para c:onceder pristamos lending authority fac:ultad para c:ontraer c:ompromisos commitment authority; authority [IDA] fac:ultad para efectuar BWtIpS Global Swap Authority [IFC] fac:ultad presupuestaria budget authority falada de composidon fallacy of composition familia e:densa extended family familia monoparental one parent family; single parent family, household fudc:ulo release [ICSID]

323 lase ascendente, de expansion upswing

fianza de cumplimiento performance bond

lase descendente, de contraccion downswing

fianza de la olerta bid bond. garantee, security

lase inicial development period (of a project, of a company)

fianza de pago payment bond [US]

lavoritismo cronyism

fianza de reembolso repayment bond

lecha de activacion trigger date [mRD]

fianza por pago anticipado advance payment bond

lecha de cierre closing date

fideicomiso trust fund

lecha de cierre, de Iiquidacion settlement date

fideicomiso "ciego" blind trust

lecha de desembolso payout date

fideicomiso cuya composicion es desconocida por el beneficiario blind trust

lecha de entrada en vigor effective date lecha de valor value date lecha limite cutoff date [debt] lenomeno de la doble tarea (de la mujer) double-day phenomenon lertilidad fecundity lertilizante compuesto compound fertilizer; mixed fertilizer lertilizante de superficie top dressing [agriculture] lertilizante nitrogenado nitrogen, nitrogenous fertilizer lertilizante simple single fertilizer

fijacion anticipada del interes anticipatoIY rate setting· ARS fijacion dlculo de precios sociales social pricing fijacion de carbono caIbon fixation, sequestration fijacion de cargos por el uso de las carreteras road pricing fijacion de precios price fixing fijacion de precios al cosio marginal marginal cost pricing f"ljacion de precios de transferencia entre empresas intercompany pricing fijacion de precios en funtion del costo cost pricing

324 fijacion de preci08 equivalentes en operaciones de cofinanciamiento loan equivalency pricing

fmanciamiento concatenado piggyback financing financiamiento conjunto espedal

fijacion del costo de un pristamo loan pricing, costing fijacion diferida de la tasa de intem y la moneda deferred rate and currency setting fIjacion diferida del inteRS deferred rate setting - DRS fijacion iUcita de precios (entre productores) price fixing fijar peg. to (prices, interest rates) filtro de tela bag filter; baghouse filter financiacion con, mediante deficit presupuestario deficit financing financiaci6n mediante endeudamiento debt financing

S~JointFinancing

financiamiento contra (actura normal financing financiamiento de contrapartida matched funding [IFC]; matching funds financiamiento de la deuda debt funding financiamiento de los iiltim08 venc:imient08 funding latter maturities financiamiento en apoyo de reformu de politicas policy-based lending; policy loans [IBRD] financiamiento en condiciones comerdales commercia1lending financiamiento en condiciones de Mercado market-related lending fmanciamiento en valores security lending

financializaci6n financialization financiamiento a mediano 0 largo plazo term financing financiamiento combinado (del BIRF y la AIF) blend financing; mixed financing

financiamiento estructurado structured financing financiamiento innovador, Imaginativo creative financing financiamiento "mezzanine" mezzanine financing

financiamiento complementario complementary financing; follow-up financing; repeat financing

financiamiento para energia energy lending

financiamiento con garantla collateral financing

fmanciamiento para programu program loan, lending

financiamiento con recurso limitado limited recourse finance

financiamiento para un proyecto, para proyectos project loan, lending

fmancjamiento con tipo de interis fijo fixed-rate financing

325 ftnod-mlento paralelo parallel financiDl

lIujo de capital capital flow; capital movement

IiDaDdamieato prerio prefinancing

lIujo de estudiantes, alumnos student flow

f'mandamiento retroactivo retroactive filUlDC\ng; retrofinancing

cash floW; funds floW; flow of funds

linanciuniento sin posibilidad de Reuno nonrec:ourse :finance

flujos de caja cash flow

finaDcbmiento transitorio bridging arrangement, credit

lIujos de capital en condidones no concesionariu nonconcessional, nonconcessioruuy flows

flnanciuniento; pJan de f'manciamiento financing package

lIujo de fondos

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

Ii...a eonsultora, de eonsultores consulting firm Ii...ar un eonvenio, un acuerdo execute an agreement, to rlBCalizacl.6n del desempe60, de los resultados performance monitoring f'ucalizad6n ,or los pares peer monitoring

lIujos f'manderos financial flows lIujos oficiales official flows [development] focalizaci6n targeting fomento development fomento dd comercio trade promotion

ftto&enetiea plant breediDl lIaibUidad monetaria monetary ease lIota fleet [transpOrtation]

fondo comun de inversiones money market (mutual) fund - MMF~ mutual fund fondo comu de monedas currency pool fondo de amortizaci6n sinking fund

fluctaaci6n de los ti,os de interes debida a la fuga de eapitale8 interest leakage

fondo de anticipos imprest account, fund

lIuctuacl6n de predos price swing

fondo de capitalizaci6n de la deuda 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

debt-equity conversion fund [IFC]

Fondo para la Maternldad sin Riesgos Safe Motherhood Fund [IBRDIWHO]

fondo de estabilizaci6n

fondo rotatorio

stabilization fund

revolving fund

fondo de estabilizaci6n cambiaria exchange stabilization fund

fondos de tontrapartida

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 free funds [IDA]

no load fund fondo de inversiones

invesbnentcoDlpany.fund fondo de inverdones de cartera

equity portfolio fund

counterpart funds

fondos de Ifbre utilizaci6n de la AD IDA's "free-funds" fondos de un elia para otro overnight funds

fondo de regulaci6n, de estabilizaci6n

fondos de un prestamo 0 cridito

buffer fund

proceeds

fondo de seguridad social

fondos en efectivo balances [cash]

social security fund Fondo de Subvenci6n de Intereses [= Tercera VentanilIa] Interest Subsidy Fund [= Third Window]

fondos fiduciarios

funds-in-trust fondos intercambiables, transferibles

fondo fiduciario trust fund

fungible funds

fondo indicativo [fondo tomun de Olonedu]

unreleased funds

fondos no disponibles para pristamos

reflecting pool forestaci6n fondo internacional de garantiu de credito

afforestation

international credit guarantee fund forfetizaci6n fondomutuo

Dloney market (DlUtual) fund - MMF; mutual fund

forfaiting

327 formacl6n

f6rmula de J'ilipinas

educational badcground; skills development

Philippines formula [MOV]

formaci6n avanzada, especl.aJizada advanced training

formulad6n design

formacl6n bnata de c:apital rajo gross fixed capital formation - GFCF

formulad6n de un proyecto, de proyectol project design

formacl6n de c:apital capital formation

tree fodder

formad6n de instnadores wholesale training

fortaledmiento institudonal imtitution building

formacl6n de recul'808 humanos, de la mano de obra

forzamiento radiativo radiative forcing

forraje arb6reo

manpower development

foscilad6n de precios formac:i6n en el empleo, trabajo on-the-job training

price swing

formacl6n en el propio pail retail training

phosphate rock; rock phosphate

fostonta

formac:i6n en el servido

foso IICptic:o septic tank

in-servicetraining formac:i6n en la empresa in-house training formad6n interna de c:apital

frac:donamiento de adquisidones slice and package [procurement] franc:o a bordo - f.o.b. free on board - FOB

domestic asset formation; domestic capital formation formad6n para el puelto, c:argo job-related training

franc:o al c:oRado del buque - f.Ls. free alongside ship - F AS franc:o de averla partic:uiar free of particular average - FPA

formacl6n profesional

vocational training formad6n teenica technical background formalizaci6n delivery (of a contract) formu novedosas de rmandamiento creative financing

franc:o de c:arga y desc:arga - f.to. free in and out - flo franco en muelle free on quay - FOQ; free on wharf - FOW franc:o transportiRa free carrier (named point) - PRe franc:o vag6n free on rail - FOR

328 franquicia

deductIble [insurance]

funcionamiento y mantenimiento Operations & Maintenance - 0 & M

franquicia

funcionario autorlzado

franchise

authorized officer

franquicia correspondiente a la primera perdida first-loss deductible [insurance]

funcionario contratado localmente local employee [IBRD]

freno fiscal fiscal drag

fundonario de uistencia tUnica technical assistant funcionario de extension, de divulgaciOn

fuel 00 fuel oil

outreach worker

fuente (de contaminacion) no identificable nonpoint source

field worker

funcionario denacado en el terreno

funcionario encargado de un pais fuente puntual point source [environment]

desk officer 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 brain drain

higher level staff

fumigacion con tuque Uevado a la espalda knapsack spraying

senior level staff

fundonari08 superiores

fusion funcion bienestar

merger

welfare function; utility function funcion cataliza.dora

catalytic role

fusion (mediante fundacion de una nueva empresa) 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 animal husbandry

lanado de doble f'malidad dual-purpose cattle

prantia de fundonandento de acuerdo con las espec:ificaciones garantizadas "put right" guarantee garantia de la olerta bid bond, garantee, security

ganado en pie cattle on the hoof

ganancia eambiaria exchange premium

garantia de pago payment guarantee guantia de primer grado first ranking security

ganancia de capital capital gain

lananda neta back value; netback value [energy] gananda neta no reaJizada net unrealized gain ganancia(s) earnings

larantia de reembolllO repayment guarantee garantia irrevocable de reembolllO irrevocable agreement to reimburse garantia pagadera a la vista on demand guarantee larantia por pago antidpado advance payment bond; advance payment security

ganancias de capital reaJizadas locked in capital gains

ganandas no reaJizadas

larandas relativas a la transformaciOn de riesgos risk transformation guarantees

unrealized gains

ganancias ocasionales, eventuaJes occasional earnings garante underwriter [securities] guanda collateral; security garanda condicionaJ qualified guarantee garanda de cumplimiento perfonnance guarantee [consultants] garantia de cumplimiento, contra el riesgo de incumplimiento perfonnance security [contracts]

garantizar un p.-estamo secure a loan. to gas asociado associated gas las de homo de coque coke oven gas gas de petroleo licuado - GPL liquefied petroleum gas - LPG gashomedo wet gas gas naturallicuado - GNL liquefied natural gas - LNG las no asociado nonassociated gas

330 Plpobre producer gas

gutos de emision flotation costs [bonds]

PI que procbtce eI efecto de invemadero greenhouse gas - GHG

running costs

PI que produce retenclon termica heat trapping gas

gatos de explotadon, de operadon business expenses

gasif'lCac:i6n del carbOn coal gasification

gatos de explotac:ion, operac:ion, funclonamiento operating expenses, costs

gas61eo diesel fuel; diesel oil

gutol de explotac:ion

gutos de mantenimiento, conservac:ion upkeep costs

gasto bnato de capital fiJo gross fixed capital expenditure; gross fixed investment

gatos descentralizados unit-managed costs

guto concentrado aI comienzo de un periodo front-loaded spending

gatos diferidos deferred charges, expenses

gasto(s) de capital capital expenditure; capital outlay

gados en efectivo cash expenditures

gasto de eonllUlDO final privado private final consumption expenditure - PFeE

gatol en petrOleo oil bill [national]

guto discrecional discretionary spending

gatos extraordinari08 nonrecurring expenses

gato no asignable unallocatable expenditure

gutolfijos :fixed costs

gasto(l) pliblico(l) government expenditure

tax expenditures

gutos admisibles, ac:eptables, rmanaables eligible expenses

gutos generales overhead costs; overheads

gatos capitalizados capitalized expenses

gatos generales dired08 managed costs

gatos centralizados centrally-managed costs

gutos inidales, de instaIaaon initial expenses

gutol eoncentrados aI comienzo de un periodo front loading

gatos medicos del personal retirado no cubiertos por eI sistema de pension non-pension retiree medical costs

gutol fmiciales) de eoDBtitucl6n formation expenses; organi7.ation expenses

gutosfiscales

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 draw, to (funds)

defensive expenditures pstos publitol de capital

public (capital) expenditure

giro drawdown

overexpenditures

giros pendientel de reembolso outstanding drawings [1Mf]

generalizad6n stylized fact

globalization

genetiIta [apedel vegetalea] breeder [agriculture]

manageable

pstosllUperiores a 101 previJtol

globalizacl6n

gobenable

gerentel

gobierno

managers

governance; government

gennoplasma

grado de indinaci6n

gennplasm

steepness (of a curve)

gesti6n de (los) rieagos risk management

graduaci6n (paso de las eondicionel de la AIF a 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 management

scattered plotting

gesti6n de puiVOl liability management

progress chart

grMitO de dilpeni6n

grMieo de ejetud6n

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 mainframe computer

Group of Five Gl1IPO de los Diez

gran ordenador IEspda] mainframe computer

Group ofTen

granja farm

Group of Fifteen

granja (de producclon) de semillas seed farm

Group of Seventy-Seven

Gl1IPO de los Quince

Gl1IPO de los 77

granos albnentarlos food grains

Gl1IPO de los Side Group of Seven 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 import levy

task force

caucus (of countries at Annual Meetings)

Gl1IPO de Trabajo Intemacional de Compiladores de Estadisticas 80bre la Deuda Extema

grupo abierto

International Compilers Working Group on External Debt Statistics

grupo

open-ended group Gl1IPO del Banco Mundial grupo beneficiario target group

World Bank Group

grupo de colocaciOn

disadvantaged group

grupo desfavorecido

selling consortium, group, syndicate grupo escogido (como meta) grupo de direcci6n, directivo

target group

management group; managing group grupo de estudio

grupo impositivo tax bracket

task force grupo de evaluadOD ambiental environmental (advisory) panel

grupo muestra elegido focus group gruPO objeto de •••

grupo de 9pertos

panel of experts; thematic team; think tank

target group

333 grupo previsto target group

bidrofluorocarbono - HFC hydrofluorocarbon - HFC

grupo vendedor selling consortium, group, syndicate

bigiene ambiental environmental health, sanitation

grupos de ingresos mb devados higher income brackets

biperempleo overemployment

grupos bomogeneos de diagn6stico diagnostically related groups - DRG

bip6tesis counterfactual

grupos que viven en la pobreza absoluta absolute poor

bip6tesis dd progreso tecnico incorporado embodiment hypothesis

guerra y disturbios civiles

bistoria clinica

war and civil disturbance [MIGA]

personal history [medicine]

guia del maestro teacher's guide

hoja de asistencia time sheet

babilitaci6n eligibility; eligibility conditions; empowerment

boja de plazos y condiciones tenn sheet

babilitaci6n de tierras land development

boja electronica de cailculo spreadsheet

bacer inveniones en acciones comunes take a straight equity position, to

bomo economicus economic man

bacerse cargo take over, to

bonorario consideration pegal, economic]

hambre oculta, encubierta hidden hunger

bonorario anticipado retainer

becho estilizado, de ocurrencia frecuente stylized fact

borario (de trabajo) bbico core hours; core (working) hours

bidrocarburos aromaticos policiclicos - HAP polycyclic aromatic hydrocarbons - P AlI

borario flexible flexitime; flextime

bidroclorofluorocarbono - HCFC hydrochiorofluorocarbon - HCFC

bortaliza de fruta fruit vegetable

hidrocraqueo hydrocracking

seed garden

bidrofluoroalcano - BFA hydrofluoroalkane - HFA

idea design

buerta (de producci6n) de semillas

334 identificadon borrower ownership; ownership (of programs)

impuesto de la inflation inflation tax

identificacion de un proyecto, de proyectos project identification

impuesto de origen origin tax

importe de un prestamo 0 cridito proceeds

impuesto de valorizaclon betterment levy, tax

imposidon de pred08 por eI fabricante resale price maintenance· RPM

impuesto de valorizacion, sobre la plusvalia land betterment tax

impresion (de computadora) printout

impuesto en cucada cascade tax

impreso (de computadora) printout

earmarked tax

imprevistos contingencies

impuesto por etapu, en caseada multiple stage tax

imprevistos financieros financial contingency

impuesto progresivo graduated tax

impuesto a lu emislones de carbono caI'bon tax

impuesto que significa la inflacion inflation tax

impuesto a lu empresu corporate tax

impuesto retenido en la fuente withholding tax

impuesto a lu socIedades corporate tax

impuesto seglin uso rmal end use tax

impuesto aI conswno excise tax

impuesto sobre el volumen, la cifra de negodos turnover tax

impuesto para fines especif'lCos

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 cedular schedular tax; scheduled tax

impuesto sobre Ia plusvalia betterment levy, tax impuesto sobre la plusvalia

impuesto de capitation poll tax; head tax; capitation tax impuesto de iguaiadOn, de equiparadOn de intereses interest equalization tax

capital gains tax

impuesto sobre lu utilidades corporate income tax [US1; business (profit) tax; corporation tax [UK] impuesto sobre lu utiUdades, los beneficios profits tax

335 payroll tax

incentivol para Ia inversion investment incentives

impuesto 1Obre, a la renta income tax

incidencia incidence [medicine]

impuesto 8Obre, a la(l) venta(l) sales tax

indinacion bias [economy; statistics]

impuesto 8Obre, a I., utilidades, los benef"lCios income tax [corporations]

incorporar a I., actividades habituales (del Banco) mainstream. to

impuesto 80bre nOmin.,

impuesto territorial land tax impuestos en mora delinquent taxes impuestos fronterizos border taxes impuestos ,or beneficios benefit taxes [IBRO] impuestos scpn mereado rlDai destination taxes imPUestOI 80bre la renta pre.suntiva, presunta presumptive taxation impul80 tak.e-01I

incremento anual medio mean annual increment - MAl [forestIy] incumplimiento de contrato breach of contract incumplimiento de obligaciones default on obligations indemnizacion compensation indemnizaciOn compensatoria compensatory damages indemnizaclon por accldentes de trabajo workmen's compensation indemnizaclon por despido

severance pay inadmisible ineligible inamovilidad security of tenure incentivo incentive incentivo en dinero incentive payment incentivo tributario tax incentive incentivos de preei08 price incentives

indemnizadon ,or terminaclon, resclsion, cese de fundones, despido tennination grant independiente free-standing; self-contained indicador anticlpado leading indicator indicador coincldente convergent indicator indicador contemporineo concurrent indicator

336 indicador economic:o economic indicator

fndice de preciOi de 101 metalea y mineralea Metals and MineIals Price Index [IBRD]

indicador primario de las tendendas economicas bellwether (of economic trends)

fndice de preciOi de 101 produdos agricolas no alimentariOi Non-Food Agricultural Price Index [IBRD]

indicador retrospectivo lagging indicator

headcount index (measure) ofpoverty; headcount

indice de recuento de la pobreza ratio-HCR

indicadores de las perspectivas econOmicu a corm plazo Short Term Economic Monitor [IBRD]

fndice de recuperacion de la renta economica rent recovery index [projects]

Indicadores del desarroUo mundial World Development Indicators - WDIs

indice de rendimiento total Total Return Index [IFC]

indicadores del deaempefto, de la actuacion perfonnance indicators

indice de rentabilidad total Total Return Index [IFC]

fndice combinado de desempefto de la cartera current blend [IFC]

indice de variaciOn instability index

indice de aprovechamiento del forraje

feed conversion ratio

fndice de vida dinamica dynamic life index [commodities]

indice de cobertura de las importadonea import coverage index

fndice de volumen quantum index

indice de eficiencia tecnica technical-efficiency index - TEl

fndice del valor unitario de las exportaciones unit value export index

indice de netel maritimos ocean freight rate index

indice del valor unitario de las manufacturas VUM (World Bank) Manufacturing Unit Value (MUV) Index

Indice de invemadero greenhouse index

Indice del valor unitario de las manufacluras -

VUM

Indice de la calidad material de la vida Physical Quality of Life Index - PQU

Manufacturing Unit Value Index [World Bank]

indice de octano motor octane number - MON

indice en cadena chain index

Indice de precios al consumidor ~nsumer price index - CPI

fndice matico de las reservas (dos) Static Life Index [commodities]

Indice de precios de los alimentOi Food Price Index [IBRD1

indice global de preciOi de 33 productos baisicos 33-Commodity Aggregate Price htdex [IBRD1

337 Indices de Cobenura Amplia de la CFI (Indices IFCG)

IFC Global Indexes (lFCG Indexes) Indicet de la CFI de Valores para Invenion (Indices IFC)) IFC Investable Indexes (lFCI Indexes) industria auiliar, abastecedora supplier industIy industria basada en recursos naturales resource based industries industria con gran intensidad de mano de obra labor-intensive industIy industria de apoyo a Ia agricultura agrosupport industIy industria de elaboracion de alimentos

industria no localizada, sin vinculacion permanente footloose industIy industria petada heavy industIy industria pionera, de van guardia pioneer industIy industria tecnica, mednica, metalmecanica engineering industIy industrias de elaboracion de productos agricolas agroprocessing industries industrias de zona franca in-bond industries industrias maquiladoras in-bond industries

food processing industIy industria de la construction construction sector industria de servicios

inelasticidad con respecto aI precio price inelasticity inestabilidad volatility

service industIy industria del transporte por carretera ttucldng industIy industria en decadencia, en crisis depressed industIy

inflaciOn basica core inflation inflacion de dos digitos, de 10% 0 mas double digit inflation; two digit inflation inflacion de los precios de los activos

industria familiar, cssera, artetanal cottage industIy industria fronteriza border industIy industria tigera, Uviana light industIy industria metalmednica heavy engineering industIy industria naciente, incipiente infant industIy

asset price inflation inflacion desenfrenada, galopante runaway inflation inflacion desfasada lagged inflation inflacion galopante galloping inflation inflacion inertial inertial inflation inflacion latente, oculta hidden inflation

338 inflation producida ,or la (presion de la) demanda

informe f'lDai de ejecudoa - lEE Implementation Completion Report - ICR

demand-pull inflation informe inidal inflacion produdda ,or 101 warioa

inception report

wage pull inflation inflaclon progresiva creeping inflation inflation provoeada ,or eI aIza de los costos

informe largo de auditoria long form audit report informe presupuestario trimestral apex report

cost-push inflation iDfladon SUbyaceDte

informe IObre la marcha (de un proyedo), IObre la labor realizada, IObre lu actividades

underlying inflation

progress report; status report

iDfluenda en eI mereado market power

informe IObre lu repereusionel (de un 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 impact (evaluation) report informe de evaluacl6n ex post de un proyedo project performance audit report - PPAR

infraestl1ldura social

community facilities; social infrastructure; social overhead capital infrueguro

underinsurance informe de evaluacl6n iniclal preparado ,or eI personal staff appraisal report - SAR

environmental engineering

informe de fin de miBlon end-of-mission document

ingenieria de dildo design engineering

informe de termination del proyedo, de proyectos -1TP

ingenieria de procesos process engineering

project completion report - PCR

ingenieria ambiental, del medio ambiente

339 ingenieria del valor valueengineering

ingrao nadonal aJUItado eonfonne a 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 ingeniero eon_tor engineering consultant

ingrao neto ,or senieios de 108 fadores net factor service income 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 ingesti6n

ingreso(s) apicola(s) 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 aDlbientales environmentally adjusted income - EAI

portfolio income

ingrao disereeional

unearned income

ingreso(.) no proveniente(s) del trabajo; ingreso(s) no salarial(es)

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

money income

current revenues

340 ingrelOl de uplotacl6n, de operaci6n opemting income, profit

ingrelOl de uportaci6n

export earnings. proceeds ingrelOl de 101 ladores

factor income

inmovilizaci6n de activo. warehousing (of financial assets) inmunidad tributaria immunity from taxation innovaciones inducidas por el agricultor farmerppull innovations

ingrelOl devengadOl, acumuladol accrued income

innovaciones inducidas por eI usuario

ingrelOl fiseales conientes

innovaciones inducidas por la investigaci6n upstrewn innovations; researchppush innovations

current revenues ingrelOl fiseales, tributarios fiscal revenue ingrelOl monetarios, en efedivo cash income ingraol netos [BIRF) net income ingraol no provenientes de las operacionel nonoperating income

do~ewninnovations

inseripci6n perfection (of security); registration [Stock Exchange] inserito registered inspecci6n previa aI embarque pre-shipment inspection inspector administrativo management auditor

ingraol por (concepto de) inveniones, derivados de inveniones investment income

inspector de bancol bank examiner

ingrelOl por intereses interest earnings, income

instalaci6n facility

ingraos por intereses interest income, earnings

instalaci6n de senicios en los lotes plot servicing

ingraos publico. government receipts, revenues

instalaci6n sanitaria minima wetcore

iniciaci6n de la lase ascendente upturn (economic)

instaladones physical facilities

iniciad6n de fa lase descendente downturn (economic)

instalaciones comunitarias social infrastructure; community facilities

inidar (sus) actividades strewn, to go on

instalaciones de elaboraci6n, transporte y distribuci6n do~ewn plant. facilities

inidativa (politica) political entrepreneurship

341 instalaciones fisicu capital works

instnamento de aceptacion instrument of acceptance

instalaciones y bienel de equipo plant and equipment

instrumento de compromiso condicionado qualified instrument of commitment

institucion aliliada affiliate

instrumento rmanciero con caracteristicu patrimoniales equity-like instrument

institucion afiliada que otorga el financiamiento en condiciones concesionarias soft loan affiliate

instrumentos cuasimonetarios near cash instruments

institucion de credito, crediticia lending agency, institution

instrumentos derivado. derivative instruments

institucion de transferencia de hipotecas secondary market mortgage institution

instrumentos juridicos, legales legal instruments [agreements, etc.]

institucion financiera de desarrollo development :finance company - DFC; development :finance institution - DFI

insuficiencia shortfall

institucion paraeltatal parastatal [noun] institucion principal apex bank, institution instituciones de ahorro contractual contractual savings institutions instituciones financieras intemacionales international :financial institutions -lFIs instituciones inversionistas institutional investors instrucciones software instrucciones pennanentes standing instructions, orders instructor trainer instrumento (oficial) instrument [ICSIO]

insuficiencia de ingreso. income shortfall insuficiencia de las exportaciones export shortfall insuficiencia de Iiquidez liquidity shortage insuficiencia de los ingrelOs de exportacion export shortfall insuficiencia de recursos resource(s) gap insuficiencia de(l) capital capital inadequacy insumo input insumo de fondos en efectivo cash input [agricultural projects] insumo no monetario noncash input integracion horizontal horizontal integration

342 integradon progresiva forward integration

intem lDayoritario proprietary interest

integradOn regresiva backward integration

intem no finandado unfunded interest

integraeion vertical backward-forward integration

intem nOlDinal coupon rate (of a bond)

integrador de irregularidades bump integrator [highways]

interesadOi stakeholders

integrante de la Lista (de Condliadores 0 de Arbitros) Panel member [ICSID]

interesea (cobrados, pagadOl) interest charges

intensidad constante de utilizadOn de energia constant energy intensity intensidad de capital capital intensity intensidad de cultivo cropping intensity intensificacion financiera financial deepening intensificacion industrial industrial deepening intere&IDbio de derechOi de eJDision, cont&IDinacion emissions trading

interesea cobradol anticipad&IDente unearned interest interesel devengados, acumuladol accrued interest - AI interesea durante Ia construcdOn interest during construction - IDC intenaz grifica para el uuario graphical user interface - GUI intermediation intermediation intermediadOn dellDereado market intermediation intermediario de cridito agricola agricultural credit intermediary

interC&IDbio de monedas currency swap intere&IDbio de tipos de intem interest (rate) swap interes compuesto compound interest interes conditional, contingente contingent interest

internaeional cross..oorder; transterritorial internado internship interrogatorio examination (of witnesses or experts) [ICSlD] interrupcion delserviclo outage [electricity]

interes economico directo working interest [oils. minerals]

intervalo time lag

343 interveneion statement interveneiones dirigidu targeted interventions introdueeion (agrieultura] accession intrusion de agua salada salt water intrusion invasion crowding in invendon development inventario de reeursos survey of resources inventario(s) inventory; inventories inversion (de eapital) capital investment inversion admisible eligible investment [MlGA] inversion bruta en eapital fijo gross fixed capital expenditure; gross fixed investment inversion de tipo totalmente nuevo greenfield investment inversion direeta distinta de las eontribueiones aI eapital social nonequity direct investment inversion en (el) eapital social equity financing. investment inversion en activOi fljOi physical investment inversion en eapital fijo capital expenditure; capital outlay; fixed investment

inversion en eapital social eorrlente net book value; current equity investment; net investment inversion en msteneias inventory investment inversion en forma de prestamo loan investment inversion en infraestruetura social social overhead investment inversion exeesiva overinvestment inversion fon:osa forced investment inversion insufieiente underinvestment inversion interna bruta * lIB gross domestic investment - GDI inversion naeional bruta - INB gross national investment - GNI inversion neta net book value; current equity investment; net investment inversion orientada a aumentar la efieieneia de la produeeion y redueir los eoatos capital deepening investment inversion que no ba akanzado so pleno rendimiento unseasoned investment inversiones de eartera portfolio equity inversiones de eartera en eapital social, sedonario portfolio equity investments inversiones en aeeiones eomunes, haeer take a straight equity position, to

344

inversiones que han a1canzado su madurez, so lase productiva mature investments [IFC] inversionistas estrategicol strategic investors inversionistas que Ie estimen adecuados, apropiadol strategic investors investigacion academica academic research investigacion aplicada applied research investigacion basica basic research investigacion con finel de adaptacion adaptive research investigacion inicial, de avanzada pioneering research investigacion operativa, de operaciones operational, operations research investigacion sobre sistemas de produccion agricola farming systems research - FSR investigation y desarrollo research and development - R&D investigacion(es) en las explotaciones agricolas on-farm research - OFR

juego de suma cero, nula zero sum game juego de suma negativa negative sum game juego de suma positiva plus sum game; positive sum game juicio hipotecario foreclosure junta de comerclalizacion marketing board Junta de Directores Board of Directors [IFC, MIGA] Junta de Gobemadores [Banco, AIF, CFI] Board of Governors jurisdiccion chair, constituency of an Executive Director [World Bank] jurisdiccion constituent(s) of an Executive Director kilometro lineal line kilometer [surveying] laboreo con abrigo vegetal trashy farming labranza minima minimum tillage laguna tributaria tax loophole

invitacion a la precalificacion invitation to prequalify [contracts] jarabe de mm de alto contenido en lructosa high fructose com syrup - HFCS jubilacion retirement benefits; superannuation juego de gestion management game

lanzar una emision de bonos float a loan, to lastre fiscal fiscal drag laudo award [ICSID] leasing finance lease; financial, full payout lease

345 lecho de un rio river channel

ley de rendimient08 decrecientes law of diminishing returns

lenguaje de programacion de computadoras computer language

ley de utili dad marginal decreciente law of diminishing marginal utility

leila woodfuel

ley del presupuesto appropriation law [US]

letra aduanera garantizada customs duty bill

ley(es) que autoriza(n) enabling legislation

letra de cambio bill of exchange

liberacion con autorizacion de convertibilidad convertible release (of 18% currency) [IBRD]

letrina de cisterna y sifon cistern flush latrine

liberation incondicional, irrestricta blanket release

letrina de cubo bucket latrine

liberacion restringida (de 108 montos del 18%) restricted release (of 18% currency)

letrina de pozo pit latrine; pit privy

liberalizar deregulate

letrina de pozo anegado

liberar release. to [capital]

aqua privy

letrina de pozo mejorada con ventilacion ventilated improved pit (VIP) latrine; VIP latrine letrina de pozo negro vault toilet letrina de sifon pour flush latrine levantamiento aeromagnetico aeromagnetic survey~ airmag survey

LIB OR [tipo, tasa de oferta interbancaria de Londres) LmOR [London interbank offered rate] Iibre acceso a la informacion disclosure of information libre comercio free trade libre de derech08 duty-free

levantamiento del mapa escolar, de mapas escolares school mapping

Iibre determinacion self-determination

levantamiento topogrifico survey

libre intercambio free trade

ley (de un metal precioso) fineness (of a precious metal)

libro del maestro teacher's guide

leyaplicable governing law

licencia franchise

346 liceneia de tiempo completo day release; block release

licitante que praenta la ofelia mas alta highest bidder

licencia general de importacion open general licence - OOL

lidtante que praenta la oferta mas baja lowest bidder

Iicitacion anticipada advance procurement action

licuefaccion del carbOn coal liquefaction

Iicitacion colusoria collusive tendering

Iigero de Arabia Saudita Saudi Arabian light (crude oil); light Arabian crude

licitacion intemacionallimitada limited international bidding - LIB Iicitacion publica competitive bidding; public tender; open tender licitacion publica intemacional international competitive bidding - ICB licitacion publica nacional competitive bidding in accordance with local procedures; local competitive bidding - LCB

lignito brown coal Iimitacion voluntaria (del comereio) voluntaly restraints (on trade) Iimitacion voluntaria de las aportaciones voluntaly export restraints - VER limitadones por razones de prudencia prudential constraints

Iicitacion publica seg'lin procedimientos nacionales, anunciada localmente competitive bidding in accordance with local procedures; local competitive bidding - LCB

limite (para la concesion de financiamiento de la AD 0 del Banco) cutoff point (for Bank or IDA financing)

licitante (que somete la oferta mas alta, mas baja) bidder (highest/lowest)

free limit [IBRD]

limite de aprobaciOn autonoma

licitante calificado qualified bidder licitante cuya oferta ha sido aceptada successful bidder licitante favorecido successful bidder Iicitante que presenta la oferta clasificada en segundo lugar second lowest bidder lieitante que presenta la oferta de menor precio lowest priced bidder

limite de credito credit ceiling; credit limit limite de credito, de prestamos lending limit limite de redescuento rediscount ceiling limite estatutario de los presum08 statutory lending limit - SLL limite estatutario, legal, regiamentario statutoI)' ceiling limite mhimo de los presumos de aprobacion autonoma free limit of loan [DFCs]

347 Umite ofieial para redbir financiamiento de la

AIr formal eligibility threshold; eligibility threshold; eligibility ceiling Umite practico para redbir rmanciamiento de

laAIr operational cut-off; effective cut-off; operational threshold

liquidaci6n por concepto de mantenimiento del valor maintenance ofvalue settlement; settlement of maintenance of value liquidez cash :Dow; moneyness liquidez discrecional discretionary liquidity

limites a la facultad para contraer compromisos impuestos por el priDcipio de proporcionalidad pro rata commitment authority limitations

liquidez internacional international liquidity

limpieza (del medio ambiente) clean-up (environmental)

liquidos de gas natural natural gas liquids - NGL

linea de capital accionario equity line [lFC]

Lista de Conciliadores, de Arbitros Panel of Conciliators, Arbitrators [ICSID]

linea de credito credit line [lFC]

lista de efectivos laborales return of labor

linea de credito a traves de un agente agency line; credit line on a agency basis [lFC]

lista de precios price schedule £procurement]

linea de credito a traves de un agente

Lista de Sustancias T6xicas Prohibidas Restricted Toxic Materials List - RTML

credit line on an agency basis; agency line [lFC] linea de credito para productos multiples a traves de agentes multiproduct agency credit line [IFC] linea de pobreza poverty income threshold; poverty line linea de subtransmisi6n, de transmisi6n secundaria subtransmission line; secondary transmission line linea de transmisi6n secundaria, subtransmisi6n secondary transmission line; subtransmission line liordizaci6n fteeze dIying liquidacl6n de activos

lista final de selecci6n short list lista positiva positive list lIamada a licitaci6n invitation to bid, to tender llamada de cobro revertido collect call; transfer charge call; reverse charge call llamada de cobro revertido transfer charge call; collect call; reverse charge call

asset stripping

llanura inundada, de inundaci6n :Doodplain

liquidaci6n de impuestos tax bill. demand

lluvia acida acid rain

348 lote con servicios serviced area, lot, site

malnutrido malnourished

lote de prueba test plot

mancomunado y solidario joint and several

lote sin servicios, no urbanizado undeveloped plot

Mandato tenns of reference [e.g. consultants]

lotes y servicios sites and services

manejable manageable

lucba contra (enfermedades, desastres, etc.] control

manejo de rebaiios flock management; herd management

lucba contra plagas y enfermedades pest and disease control

manipulacion de la contabilidad (para aparentar una mejor situacion) window dressing

lucba integrada contra las plagas integrated pest management - IPM lugar (de un proyecto) site lugar de destino duty station lutita bituminosa oil shale

mano de obra calificada skilled manpower mano de obra no calificada unskilled labor mano de obra ocasional casual labor mano de obra semicalificada semiskilled manpower

loz [entre cuerpos]

clearance macrogestion macromanagement madera timber madera en pie timber madera redonda roundwood

mano de obra; poblacion activa labor force mantenimiento sustainability mantenimiento de rutina, rutinario routine maintenance mantenimiento del valor maintenance of value - MOV (ofIBRD capital) manual del instructor teacher's guide

maduracion maturation (of borrowers from IDA to IBRD loans)

maquioa de tratamiento de textos word processor

malnutricion malnutrition

marcar peg out, to [surveying]

349 marco de politicas policy framework

margen entre los precios price spread. differential

marco institucionai institutional framework

margen entre tipos, tasas de interes interest-rate differential

marco nonnatwo policy framework

margen estudar benchmark spread

marco temporal, cronologico time frame

margen financiero financial spread

margen risk spread

margen neto de interes sabre el promedio de activos productivos net interest margin on average earning assets

margen (bancario) bruto gross margin; banker's spread; banker's markup; gross earnings margin [banks]

marginado underprivileged

margen (de precio) en concepto de riesgos risk allowance (projects]

masa salarial wage bill

margen (entre las cotizaciones aI contado y a tennino) spread (between spot and forward quotations)

materia subject matter [education] material (de transporte) equipment

margen (p.ej., entre el costo de los emprestitos y el interes sabre los prestamos) spread (e.g. between borrowing cost and lending rates)

material complementario balancing equipment

margen de competitividad intemacional international competitiveness margin - ICM

material de propagacion planting material

margen de maniobra headroom [World Bank]

material didactico educational material

margen de preferencia margin of preference; preference, preferential margin

material didactico, pedagogico instructional aid

margen de preferencia a empresas nacionales domestic preference; preference margin; preferential margin; margin of preference (procurement] margen de utilidad mark-up margen de utilidad, de beneficios profit margin

material fungible expendable equipment material genetico, de mejora [especies vegetaies] breeding material material no fungible nonexpendable equipment

350 material pedagogico buico teacher's kit

mecanismo de financiamiento transitorio bridging facility

material vegetativo planting material

mecanismo de opciones exit mechanism

materiales buicos feedstock

mecanismo de participacion voice mechanism

materiales didacticos learning materials; teaching aids

mecanismo de precios de intervencion Trigger Price Mechanism - 1PM [US]

materia buicas core subjects; basic subjects [education]; feedstock

mecanismo de prestamos a intermediari08 wholesale mechanism; wholesaling

matricula enrollments

mecanismo de reajuste automatico (del tipo, de 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 matm de referencia cruzada, comparacion crosswalk document maxima estacional seasonal peak

mecanismo de suscripcion de reserva backup (underwriting) facility mecanismos de apoyo backstopping mecanismos de credito, creditici08 credit facilities

mayor pago inicial de la pOl"Cion pagada de las suscripciones de capital front loading of the subscription [lBRD]

mecanismos oficiales de control command-and-control instrument. regulation

mayoria calificada qualified majority

media armonica harmonic mean [statistics]

mayoria especial special majority

mediamovil running average; moving average

mecanismo facility

media ponderada weighted average

mecanismo administrativo administrative machinety

medicamento generico generic drug

mecanismo complementario additional facility [ICSID]

barefoot doctor

mecanismo de emergencia contingency mechanism [IMFlWorld Bank]

medico "descalzo"

351 medida a que la uiJtenda es concesionaria, muy favorable degree of concessionaJity medida global de la ayuda - MGA aggregate measure of support - AMS medida provisional provisional measure [ICSID] medida temporal, de transidon stopgap measure medidas de politica policy-based assistance medidas de proteccion social safety net; social safety net medidas a materia de iDversiones reladonadas con el comereio trade-related. investment measures - TRIMS medidor de materiales quantity surveyor

mejora de las condidones de la deuda debt enhancements mejoramiento development mejoramiento ambiatal environmental enhancement mejoramiento de tiems land improvement mejoramiento de zonas, barrios de tugurios slum upgrading mejorar las condiciones de la nueva deuda enhance new debt, to mejoras a las explotaciones agricolas; adecuacion predial on-farm developments. improvements memorando de acuerdo memorandum of understanding

medieria sharecropping

memoranda de evaluaciOn a: poat de un proyecto project pedonnance audit memorandum - PP AM

medio dreulante money stock, supply

memorando de transmision covering memorandum

medio de pl1leba evidence [ICSID]

memorando juridico memorandum of law

medio receptor sink (e.g. of greenhouse gases)

Memorando sobre Arreglol AdmiDistrativos Memorandum of Administrative Arrangements [ICSID]

mediol facility

memorial memorial [ICSID]

medios de informacion, difusion, comunicacion

mass media mediol empresariala, comereiales business community m.edios y arbitrios ways and means

menu desplegable pull-down menu mereado abierto open market mereado activo buoyant market

352 mereado aI eontado spot market; cash market [foreign exchange]

merudo especializado, para productos 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 mature markets [securities]

swap market 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 staff-month

miembro no fundador nonoriginal member [MIGA]

metodo eontable, de eontabllidad accounting procedure

miemb1'08 membership [lFC]

metodo de aetualizacion de los flujos de fondos discounted cash flow (DCF) method

millones de barriles diario. de equivalente en petrileo - mbdep millions of barreis per day oil equivalent - mbdoe

metodo de "eon y sin" "with-and-without" test [projectsJ metodo de la lista de opciones menu approach metodo de los euadrados de rendimiento crop-cut method metodo de los efeetos effects method [project appraisal] metodo de maxima verosimiUtud maximum likelihood method metodo de mfnimos eoadrados least squares method metodo de roza y quema slash-and-bum cultivation metodo dd camino eritieo critical path method - CPM MIBOK (tipo, tasa de oferta interbanearia de Madrid) MlBOR [= Madrid Interbank Offered Rate] microdatos microdata mieroenseilanza microteaching mierogestion micromanagement miembro de pleno dereeho full member miembro fundador original member [MIGA]

minerales no combustibles nonfuel minerals minimo hard core [projectsJ ministerio de ejeeucion spending ministry ministerio de operaciones, sectorial, de ejeeueion line ministry, department ministerio que efeetUa gastos spending ministry ministerio responsable de una sola industria branch ministry ministerios de hacienda y de planificacion core ministries, departments mision de estudio survey mission mision de estudio de oportunidades de inversion investment review mission [ffiRD] mision de evaluacion eomplementaria post appraisal mission mision de evaluaeion ex post audit mission; evaluation mission mision de evaluacion ex post evaluation mission; audit mission mision de evaluaeion inicial, previa, ex ante appraisal mission

354 preappraisal mission

moddo de iDsumo-producto input-output model

mision de eu.men review mission

two-gap model

mision de evaluaeion preliminar

mision de eumen extemo

external review mission mision de rmalizaclon (previa ala terminacion de un proyecto)

graduation mission [IBRD]

modelo de las dOl brechas

modelo de normas de diseiio y mantenimiento de carreteru Highways Design and Maintenance Model - HDM

[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 mediados del periodo de ejecuclon midterm project review mission [World Bank]

uncovered interest rate parity model 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 trade pattern

financial restraint, stringency

modelo design

moderacion financiera

modernizacion

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 multimedia training modules [EDI]

form of contract

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

intervention currency

monetization 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 freely usable currency; unrestricted currency

standby amount of guarantee

moneda de reserva

reserve currency moneda de uso restringido restricted currency

monto de la garantta contingente

monto de los prestamos bancarios vigentes bank exposure monto de los prestamos desembolsados y 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 en so moneda) 18% currency [IBRD maintenance of value] montos del 18% en prestamo 18% currency out on loan [IBRD maintenance of value] montos retenid08 en prantfa retention money moratoria tax deferral mortalidad de nii'los menores de un aDo infant mortality mortalidad en la niila [uno a coatro aios de edad] child mortality mortalidad infantil infant mortality modn riot [MIGA] motivaci6n (politic a) political entrepreneurship movilizaci6n harnessing movilizar (fondos, etc.) raise, to (funds, etc.) movimiento turnover movimiento ascendente upswing movimiento de capital capital flow; capital movement movimiento de estudiantes, a1umnos student flow movimiento del inventario, de las existentias inventory turnover

movimiento descendente downswing movimientos de capital en condiciones no concesionarias nonconcessional, nonconcessioruuy flows muellaje dockage; wharfage; wharfage charges muestra aleatoria, al azar random sample muestra autoponderada self-weighting sample muestra representativa cross section sample muestreo por conglomerados, grupos cluster sampling multa liquidated damages multicopiado processed multiplicador del credito credit multiplier multipropiedad time sharing [computers1 necesidades de financiamiento del sector publico public sector borrowing requirement - PSBR necesidades netas de efectivo net cash requirements - NCR necesidades sociales social wants negociaci6n de bloques de acciones block trading negociaci6n en pie de igualdad, entre iguales arm's length negotiation

357 negodadones araneelarias, sobre aranceles tariff negotiations, round

no contabilizado unaccounted. [e.g. water, electricity]

negoc:iaciones COJDerdales multilaterales multilateral trade negotiations - MTN

no disponible - n.d. not available - n.a.

negociadones por via eIpedita

fast-track procedures

no especificado en otra parte - n.e.p. not elsewhere specified. - n.e.s.

Divel critico de COIlBUlDO - NCC critical consumption level - CCL

no exportable 0 importable nontradable [noun1

Divel de aJfabetizacion literacy level

no garantizado unsecured. (note, loan, etc.)

Divel de endeudamiento reiativo al capital leverage (ratio) [US]; gearing (ratio) [UK]

no babilitado ineligible

Divel de ingreso enttylevel

no indieado separadamente - n.La. not included. elsewhere - nj.e.

Divel de ingreso(s) income bracket

no redimible antes del vencimiento noncallable [bond]

Divel de reemplazo, de renovacion replacement level [population]

no rescatable antes del vencimiento noncallable [bond]

Divel de vida standard of living

no se aplica - n.a. not applicable - n.a.

Divel estable de premunos steady state lending

nombramiento de plazo fijo fixed. term appointment

Divel freineo groundwater table

nombramiento ordinario, permanente regular appointment [IBRD]

Divel impositivo tax bracket

nombre generico nonproprietary name

Divel sostenible de prestamol sustainable level of lending - SLL

nomina payroll

Divelacion :flattening out; leveling off

norma (del Manual de Personal) stafIrule

Diveles de supervision supervisory grades

firm bid rule

Diveles mediol

supervisory grades

norma de ofena firme

normas de disciplina y control prudential supervision and regulation

358 nonnas de diseilo design standards

naero de animales al final del periodo 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

nuclearizacion

obligaclones relaclonadas eon el serviclo de la 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 jumbo borrowing(s)

oferta pardal 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 float a loan, to

takeover bid

ofelia publiea de eompra - OPT

obtener un prestamo

ofieial de desembolsos

secure a loan, to

disbursement officer

octanaje

ofieial de extension de zona - OEZ zone extension officer - ZEO [agricultural

motor octane number - MON

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 capital supply

ofieina de impuestos 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)

ofun atiea

unsuccessful bid

office automation

360 olilOPolio C01U80rio collusive oligopoly

operacion de laranda de emision underwriting commitment [IFC]

OlilOPolio C01U80riO opHcito (explicitly) collusive oligopoly

operacion deficitaria money-losing operation

oncocercosis onchocerciasis; river blindness

operaciones "en reserva" reserve operations [lending program]

oncocercosis river blindness; onchocerciasis

operaciones de cobertura, de proteccion cambiaria hedging

ONG aut6ctona indigenous NGO

operaciones de pase [Argentina]

swap opcion trade-off opdon [proyectos] alternative [projects} opcion a participar en el capital social equity feature [IFC) opcion de compra call option opcion de compra de acciones stock option opcion de venta put option

operadones invisibles invisible transactions operador(a) de tratamiento de tenos word processor opinion juridica legal opinion optimization de los recUr80S value for money optimo de Pareto Pareto optimum orador principal keynote speaker; keynoter

operacion venture [IFC] operacion bursatil stock exchange transaction

orden de compra trading ticket [capital :m.arket] orden de compra general blanket purchase order - BPO

operacion concertada por, con un club bancario, consorcio club deal

orden de proceder notice to proceed [contracts]

operacion conjunta joint venture

orden de venta trading ticket [capital market]

operacion de compromi80 de compra standby commitment [IFC]

ordenacion control

operacion de demostracion demonstration activity

361 ordenadon de cuencas hidrogrMicas, de vertiente. watershed management ordenadon de las aguas water management ordenaclon de tierras lridu dryland(s) management ordenacion de tierras de pastoreo range management ordenacion forettal sostenible sustainable forestIy ordenadon monocfdiea monocyclic management ordenaeion poliddka polycyclic management ordenadon salarial wage control ordinaria, (partida) above the line (item) organismo &filiado de energfa energy afiU.iate

organismo de ejecudon executing agency [UNDP]; implementing agency organismo de energia afiUado al Baneo energy affiliate organismo del proyedo project agency organismo director, prindpal lead agency organismo espedalizado specialized agency [UN] organismo paraestatal parastatal [noun] organismo prindpal parent body organismo regulador regulatory agency organismo responsable del proyedo project agency organismo IOUcitante Requesting Organization [ICSID]

organismo agente de cobranza billing agent

organismos intemaeionales de produetos bAlkos international commodity bodies - lCBs

Organismo Anfitrion Host Organization [lCSID]

organization de base, eomunitaria grass roots organization

organismo de centralization de trAmites one-stop agency, shop

organization de meditina preventiva health maintenance organization - HMO

organismo de duificadon de valores rating agency

organizacion gremial, patronal trade organization

organismo de eontrapartida counterpart agency

organization no gubemamental - ONG nongovernmental organization - NGO

organismo de erMito, ereditido lending agency, institution

organization privada de voluntarios private voluntary organization - PVO

organismo de derecbo publico statutory body

organizadon sin fines de luero nonprofit organization; not-for-profit organization

362 organ_iones internadonales de produdol bUieol international commodity organizations - leOs 6rgano dedsorio, de dedsi6n decision-making body 6rgano prindpal parent body orlentaci6n student placement orientad6n profesional vocational guidance orientado bacia eI interior inward-looking; inward-oriented [country; policy] orientado bacia )a exportad6n export-oriented

pagare del Tesoro Treasury note

pagare del Tesoro a corto plazo Treaswy bill pagare descontado discount note pagare no negociable nonnegotiable note pagare participatorio income note pagare que devenga intereses interest bearing note pagare sin intereses noninterest bearing note

orientar a gmpos espedficos 1arget, to

pagares con pago del principal vinculado a los tipos de cambio de diversas monedas principal exchange rate linked securities notes

otru corrienta ofidales other official flows - OOF

pago consideration [legal, economic]

otros flujos ofidales other official flows - OOF

pago a cuenta progress payment

6xido nitroso nitrous oxide

cash payment

6:ddos de nitr6geno nitrogen oxides (NOJ

pago anticipado advance payment

amno estratosferico stratospheric ozone

pago de cesantia severance pay

pagadero a la vista, contra presentad6n payable on demand

pago de contrapartida matching payment

pagare note [capital markets]; pronllssoty note

cash payment

pagare a la vista demand note

pago en el dia intra-day settlement

papre con interes variable, ftotante floating rate note

pago en espede payment-in-kind - PIK

pago al contado

pago en efectivo

363 pago final, global balloon payment

pais de gran crecimiento economico high performing economy

pago parcial progress payment

pais de ingreso bajo low income country

pagos anticlpados de exportaciones, por concepto de exportaciones advanced export payments

pais de ingreso mediano middle income country

pagos de transferencla transfer payments pagos en concepto de ingresos de los factores factor income payments pagos en mora payment arrears pagos internacionales corrientes current international payments pagos parciales por concepto de reintegro recall installments [MOY] pais agobiado por la deuda debt distressed country

pais de ingre80 mediano bajo lower middle income country - LMIC pais de mediana capacidad de ab80rcion medium absorber [oil exporter] pais de nivel intermedio second tier country pais de origen home country [MIGA] pais de origen calificado eligible source country pais de produccion primaria primary producing country

pais beneficiario, anfitrion host country [MIGA]

pais de reciente industrializacion, en via.~ de industrializacion newly industrializing country - NIC

pais con economia de planificacion centralizada centrally planned economy (country)

pais declarante, informante reporting country

pais con superavit de capital capital-surplus country

pais deficitario deficit country

pais de baja capacidad de ab80rcion low absorber [country]

pais donante donor country

pais de desarrollo agroindustrial reciente newly agro-industrialized economy - NAB

pais en desarrollo less developed country - LDC

pais de elevada ab80rcion, de gran capacidad de ab80rcion high absorber [oil exporter]

pais en desarrollo no petrolero nonoil developing country

pais de franja Jitoral estrecha coastal strip country

pais exportador de productos primarios primary exporting country pais habilitado para recibir creditos de la AIF IDA-eligible country

364 pais industrial eon economfa de Dlen:ado industrial market economy

pais receptor [inversiones] host countly [MIGA]

pais insular en desarrollo developing island countly; island developing countly

pais receptor, beneficiario recipient countly

pais medianamente industrializado halfway countly pais menos desarrollado - PMD less developed countly • !DC pais muy endeudado, sumamente endeudado, fuertemente endeudado highly indebted countly pais no miembro y no de<:larante nonreporting nonmember countly pais orientado hacia eI exterior outward-looking, outward-oriented countly pais pan:ialmente industrializado halfway countly pais prestatarlo de la AIF IDA recipient pais que no influye en los precios intemacionales price taker pais que pennite Ja contaminacion sin restricciones pollution haven pais que puede obtener finandamiento combinado (del BIRF y la AIF) blend countly pais que puede recibir creditos, financiamiento delaAIF IDA-eligible countly

pais receptor elegible eligible host counUy [MIGA] pais recientemente industrializado newly industrialized countly - NIC pais(es) representado(s) por un Director Ejecutivo chair, constituency of an Executive Director [World Bank] pais(es) representado(s) por un Director Ejecutivo constituent(s) of an Executive Director pais sin Utoral, mediterraneo landlocked countly pais solidtante client countly pais superavitario capital-surplus countly pais superavitarlo surplus countly paises ACP (Mrica, el Caribe y el Pacifico) ACP countries [Lome Convention] paises asociados, que mantienen relaciones comen:iales partner countries paises de comercio estatal state-trading countries paises de ingreso alto high income countries

pais que recibio f'manciamiento para fines de ajuste antes de 1'86 early intensive adjustment lending (EIAL) countly

paises de la Categoria I Category I countries [IBRD]

pais que recurre a los servicios del Banco client countly

paises de la Categoria n Category II countries [IBRD]

365 paises de la Parte I Part I countries [lBRDJ

paquete financiero financial package

palses de la Parte n Part n countries [lBRDJ

tax haven

paises de produccion primaria commodity producing countries

parametro de cambio shift parameter

paises del areo del Pacifico Pacific Rim countries

parametros de planificacion presupuestaria Budget Planning Framework [lBRD]

paises excluidos del regimen de contabiIidad en valores devengados countries in nonaccrual status

pareela de demostracion demonstration plot

paises inmediatamente afeetados most immediately impacted (MIl) countries paises mas gravemente afectados most seriously affected countries· MSA paises (en desarrollo) menos adelantados • PMA least developed countries· LLDCs paises que mantienen relaciones comerciales trading partners paises que reciben financiamiento en condiciones predominantemente gravosas hard-blend countries paises que se encuentran "en el umbral" threshold countries paises que 11610 reciben financiamiento de la AD' pure IDA countries paises que tienen acceso al mereado rmanciero market-eligible countries

paraiso tributario

parcela de prueba test plot pareela testigo, de control controlled plot; control plot parclalmente montado partly knocked down - PKD paridad par value paridad del poder adquisitivo purchasing power parity - PPP paridad mom crawling peg [rate of exchange] parque fleet [transportation] parque industrial industrial estate [UK], park [USA] parte (en el procedimiento 0 en la diferencia) party (to proceeding or to the dispute) [ICSID]

paises representado(s) ,or un Director Ejecutivo; jurisdiccion constituency, chair of an Executive Director

partes interesadas stakeholders

papel comercial commercial bills; commercial paper

participacion de fundador founder's share

papeles de comercio commercial bills; commercial paper

participacion de la mujer en el proceso de 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 equity financing, investment

participante en un curso 0 program a de capacitacion trainee

participacion en cada uno de los vencimientos (de un prestamo) strip participation

participar en el capital social share capital, to supply

participacion en el capital social

particulas

equity ownership

particulate matter - PM

participacion en el financiamiento de los costos, gastos [beneficiarios] burden sharing

particulas en suspension suspended particulate matter - SPM

participacion en inversiones inmobiliarias real estate equity

partida item [budget] partida (presupuestaria)

participacion en la carga burden sharing participacion en las ganancias, utilidades netas net profits interest [oil]

line item [budget]

partida arancelaria tariff item; tariff position partida compensatoria

participacion en las utilidades profit sharing

balancing item, entry

participacion en los costos cost sharing

memorandum entry, item; memo item

participacion en los impuestos tax sharing

reconciliation item [accounting]

participacion en los ingresos (fisc ales) revenue sharing

noncash item

participacion en una inversion exposure

below the line (item)

partida de memorando

partida de reconciliacion partida de transaccion no moneta ria

partida extraordinaria

participacion mayoritaria controlling interest

partida informativa memorandum entry, item; memo item partida ordinaria

participacion pasiva carried interest (petroleum industry]

above the line (item)

participacion proporcional funding pro rata

memorandum entry, item; memo item

partida pro memoria

partidas que se compensan mutuamente mutually offsetting entries

367 pasantia internship pasar de las condieiones de asistencla de la AD a las del Banco graduate, to [Bank. IDA]

patrimonio

stockholders' equity; shareholders' equity; owners' equity; equity; net worth patrimonio (neto)

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 paso gradual a tIIas impositivas mU altas bracket creep, progression [taxation]

pequena empresa small·scale enterprise ~ SSE pequefta explotaei6n agricola smallholding

pastor n6mada

pastoralist pastoreo excesivo overgrazing patio de maniohra, de clasificacl6n

pequefta industria small-scale industIy - SSI pequefta y mediana empresa - PYME small and medium enterprises - SME; small- and 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 small-scale irrigation

perforaclon de explotacion development drilling

pequeilo agricultor smallholder

perforacion es:ploratoria wildcat (drilling)

,erdida loss in weight; waste [commerce]

perforac:ion submarina, mar adentro offshore drilling

,erdida waste; loss in weight [commerce]

expertise

perdida cambiaria exchange discount

periodo contable accounting period

,erdida de capital capital loss

periodo de cumplimiento de obligaciones performance period

perdidas de explotacion, de operacion operating losses

periodo de eliminacion gradual de los prestamos del Banco phase out period [IBRD]

perdidas de peso muerto deadweight (losses) perdido unaccounted [e.g. water, electricity] perfeccionamiento delivery (of a contract); upgrading of skills perfeccionamiento de la funcion de gestion management development perfeccionarniento de 101 recursos human08 human resource development perfeccionamiento de recursos humanol, de la manodeobra manpower development perfeccionamiento del personal staff development

pericia

periodo de gestac:ion de un proyecto lead time of a project periodo de gracia grace period perfodo de 5esiones session [ICSID] periodo es:ceptuado excepted period periodo previo a la exclusion del regimen de eontabilidad en valores devengados nonaccrual trigger point, date periodo vegetativo, de erecimiento growing period peritaje

expert appraisal perfeccionamiento del personal directivo management development perfiles ocupacionales normalizadol standardized occupational streams perforacion drilling

permanencia (en el cargo) tenure [education] permiso negociable de eontarninacion tradable emissions permit

369 persona a cargo dependent

perturbaciones del medio ambiente environmental stress

persona juridica corporate body, institution; body corporate; legal entity, person

pesca capture fishery; harvest fishery

persona que reclbe adiestramiento trainee persona responsable de adoptar decisiones decision-maker personal staff personal contratado a plazo fijo fixed term staff personal de contrapartida counterpart staff personal de las oficinas exteriores, fuera de la sede field staff personal de Divel profesional higher level staff personal de supervision supervisory staff personal ejecutivo, de operaciones line staff

pesca con luz (artificial), aI encandilado lamplight fishing; fishing by lamplight pesca con luz artificial, aI encandilado fishing by lamplight; lamplight fishing pesca con trasmallos trammel fishing pesca de altura deep sea fishing pesca de arrastre trawl fishing pesca de deriva drift fishing pesca (con redes) de tiro seine fishing pesca en agoas interiores inland fisheries, fishing pesca fantasm a ghost fishing pesca por enmalle

gill fishing personal en el terreno field staff personal no permanente nonregular staff - NRS personal permanente regular staff personalidad juridica legal existence; juridical personality personas que viven en la pobreza absoluta absolute poor

peso muerto deadweight (losses) petr61eo combustible pesado heavy fuel oil petr6leo crudo liviano Saudi Arabian light (crude oil); light Arabian crude petroleo crudo liviano, ligero de Arabia Saudita light Arabian crude; Saudi Arabian light crude petroleo para calefaccion heating oil

370 pet..oleo pesado heavy oil

plan de existenci.. regulador.. buffer stock scheme

pet..oleo residual, combustible fuel oil

plan de financiamiento financing plan

PIB comercial

commercial. commercialized GOP

plan de jubilaci6n anticipada early retirement scheme

PIB monetizado monetized GOP

plan de jubilaci6n minima top-up scheme; minimum pension guarantee

PIB sectorial sector GOP

plan de ordenaci6n ambiental mitigation plan; environmental management plan; action plan

pila de combustible fuel cell piquetear peg out, to [surveying]

plan de pagos payment schedule

piscicultun culture fishery

plan de pensiones sep, conforme a las necesidades, con comprobaci6n previa de medios de vida means-tested pension plan

plan contractual program contract

plan de protecci6n ambiental environmental action plan - EAP

plan de acceso anticipado a I.. aportaciones advance contribution scheme (for IDA-lO)

plan de seguridad social social security scheme

plan de acci6n nadonal reladonado con la funci6n de la mujer en eI proceso de desarrollo country WID action plan

plan de seguro global "wrap-up" insurance arrangement

plan de actividades (empresariales) business plan plan de amortizaci6n amortization schedule; repayment schedule

plan de sucesi6n para cargos de direcci6n management succession planning plan de utilizaci6n de tierras land use plan

plan de cuentas chart of accounts

plan de vivienda por el sistema de esfueno propio y ayuda mutua self-help housing scheme

plan de distribuci6n layout plan

plan financiero finance plan; financial plan

plan de estudiOi curriculum

plan maestro master plan

plan de estudios como core curriculum

plan modelo de presupuesto de fmca pattern farm plan

371 plan naeional de protecdon ambiental- PNPA national environmental action plan - NEAP

planifieacion presupuestaria nominal (full cost) nominal budget planning, budgeting

plan para situaciona im.previstu contingency plan

planifieaclon y evaluacion del desempeilo (del 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; action plan

planifieador del desarroUo development planner

plan renovable rolling plan

spreadsheet

planifieacion de recUI'SOl humanos, de la mano de obra manpower planning planifieacion de tieuaa land use planning planificaclon del avanee profesional career development planifieacion del desarroUo development planning plaDifieaciOn del espacio fisico physical planning planifieaeion detaUada blueprint planning

planUla de dlculo electronica

plano design plano del emplazamiento, dellugar site plan pianos definitivos final design pIanos generales (de un proyecto) layout pIanos preliminares preliminary design, engineering pIanos teenicos detaUados detailed design, engineering planta a1imentaria

planifieacion familiar, de Ia fllDilia family planning planifieacion global, agreptiva aggregative planning planifieacion global, integral comprehensive pJanning planificaeion obligatoria, preceptiva mandatory pJanning planificacion presu.puestaria en valores de caja, en efectivo cash-based budget pJanning

food plant planta de elaboracion secundaria [petroleo] downstream plant, facilities planta de semillero, vivero seedling planta de simiente seed plant planta de tratamiento de aguaa negraa, servidaa sewage (treatment) plant planta eleariea diesel diesel (fired) power plant

372 planta para leIIliIIa seed plant

poblacion activa working population

planta texti.l fiber crop

wor~ngagepopWation

planta totalmente nueva greenfield plant; grass root plant

poblaciones indigenas tribal peoples

plantacion cortavientos windbreak

poder (juridico) proxy

plantadon de arboles afforestation

poder calorifico heat value

plantadon de bosques comunitarios social forestry plantadon en franjas strip planting plantadon nudeo nucleus estate plantOn (de arboles) seedling plaintula seedling plataforma de perforadon petrolera [mar.] oil (drilling) rig. platform plazo time limit [ICSID] plazo de amortizacion, de reembolso payback period plazo de recuperadon (de inversiones) payback period plazo de vencimiento maturity (of a loan, bond, etc.)

poblacion en edad de trabajar

poder calorifico bruto - PCB

gross heating value - GHV; gross calorific value GCV; higher heating value poder calorifico neto - PCN net heating value - NHV; net calorific value NCV; lower heating value poligono industrial industrial estate [UK], park [USA] polftica policy-based assistance politica cambiaria exchange rate policy politica comen::ial restrictiva restrictive trade policy politica coyuntural business cycle policy politica crediticia restrictiva tight credit policy politica de austeridad restraint policy politica de avance intermitente

pliego de condiciones de la licitacion bidding conditions plusvalia capital gain

stop-go, stop and go policy politica de contraccion contractioruuy policy

373 politica de empobrecer al vecino beggar-My-neighbor policy

porcentaje de prestamos e::s:c1uidos del regimen 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

politica de servicios aratuitos

porcentaje larantizado guaranteed percentage

zero fee policy

porcion politica e::s:pansionista

slice [contracts]

expansionary policy

politica favorable a la «onomia de la oferta

porcion de cada uno de los vencimientos de un 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]; direct work; departmental forces

capital position

por enama de la enota

reserve position

posicion de reserva(s)

above quota

374 posicion de riesgo risk posture

precio administrado, controlado, impuesto administered. price

potenciacion empowerment

precio al consumidor consumer price

potencial de agotamiento de la capa de ozono -

precio al contado, para entrega inmediata spot price

PAO

ozone-depleting potential - ODP potencial de recalentamiento atmosferico, de la Tierra global warming potential - GWP pozo de ozono ozone sink pozo entubado tubewell pozo exploratorio wildcat well pradica optima best practice practica(s) internship pradicas contables accounting practices practicas de avalllo aduanero, de aduana customs valuation (practices) preambulo de un convenio preamble to an agreement; recital of an agreement preambulo de un convenio recital of an agreement~ preamble to an agreement precalificacion de licitantes prequalification of bidders precedente establecido por Brasil y Yugoslavia Brazil-Yugoslavia Precedents precio a nivel de la aplotaci6n agricola farm gate price

precio al desembarque landed price precio al produdor producer price precio c.LfJpuerto de entrada cost, insurance and freight (elF) port of entrylborder point price precio contractual contract price precio corriente, vigente going price precio de compra, de adquisicion historical cost precio de compuerta [avicultura] lock gate price; sluice price; sluice gate price precio de costo cost price predo de cuenta accounting price; shadow price precio de eficiencia economic price; efficiency price precio de incentivo incentive price precio de intervenci6n intervention price predo de lista, cotizado, de cotizaci6n posted price [oil] 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 distress price

precio f.o.b. puerto de embarque free on board (FOB) port of shipment price

precio de ofena bid price [contract]

lump sum price

precio de paridad parity price

guiding price; target price

precio global

precio indicativo

precio de referenda

predo minimo

benchmark price; marker price [oil]

floor price

precio de referenda para fines tributarios [petrileo] tax reference price [oil]

payout price

precio neto

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 selling rate

stumpage price

precio desleal

price to factory

predo puesto en fabrica

predatory price precio recibido ,or eI productor predo economico

producer price

economic price; efficiency price precio efectivo, de realizadon realized price [oil1

precio social social price 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

ex factory price; price ex factory; factory gate price

unit cost

376 precio vendedor selling rate

presa de almacenamiento storage dam

precios constantes constant prices

presa de derivadon diversion dam

precios corrientes current prices

earthfill dam

predos de equilibrio del mercado market-clearing prices

prescindencia redundancy [staffing]

precios en plaza (lista de) posted values

presentacion de ofertas bid submission; delivery of bids

precipitador precipitator; dust collector; dust separator

presentadon de reclamadones filing of claims [MIGA]

predisposidon bias [economy; statistics]

presentadones [demandas, alegatos, etc.] pleadings [ICSID]

preferenda margin of preference; preference, preferential margin

presentar y ofrecer pruebas marshal evidence, to [ICSID]

preferenda por los amigos cronyism

presa de terraplin

presidente en fundones serving chairman presion de los salarios wage pressure

preferencia por los productos nacionales domestic preference; preference margin; preferential margin; margin of preference [procurement]

presion fiscal tax burden

prefinanciamiento prefinancing

prestacion de cesantia severance pay

prelectora pre-reading

prestadones benefits [social security]

preparadon development

prestadones de (la) seguridad social social security benefits

preparadon de un proyecto, de proyectos project design; project preparation

prestadones sociales social benefits

preparacion del terreno site development

prestaciones suplementarias fringe benefits

preparacion tknica technical background

prestamilta en ultima instancia lender of last resort

377 prestamista subordinado subordinate lender

pristamo con riesgo de posibles perdidas jeopardy loan

prestamo "A" "A" loan

prestamo con vencimiento elegido a la suerte serial loan

prestamo a corto plam para salvar una dificultad temporal canyover loan

prestamo concedido por un club bancario, por un consorcio club loan

prestamo a la vista call loan

prestamo contingente standby loan

prestamo a mediano 0 largo plam term loan

prestamo convertible en acciones de capital [CFl) equity feature [!FC]

prestamo a un intermediario rmanciero financial intermediary loan - FIL prestamo activo active loan prestamo (para fines de) ajuste de la poHtica de comercio exterior trade adjustment loan prestamo amortizable en su mayor parte al vencimiento balloon loan prestamo anterior al sistema del rondo comun de monedas prepoolloan prestamo "B" "Bn loan prestamo "balloon" balloon loan prestamo bancario de primera categoria top-rated bank loan prestamo cofinanciado coloan prestamo complementario repeater loan prestamo con interes tope cap

prestamo cuyo vencimiento se ba anticipado prematured loan prestamo de amortizaci6n negativa negative amortization loan prestamo de aprobacion autonoma free-limit loan [DFCs] prestamo de calidad quality loan [IBRD] prestamo de contrapartida con tasa fija fixed rate matched funding loan prestamo de emergencia bailout loan prestamo de emergencia para recuperacion emergency recovery loan - ERL prestamo de rapido desembolso quick disbursing (loan); fast disbursing (loan) prestamo de suma global lump sum loan prestamo de un consorcio, concedido ,or un consorcio syndicated loan prestamo de vencimiento escalonado serial loan

378 prestamo en condiciones concesionarias, blando, liberal soft loan prestamo en condiciones ordinarias, de mereado hard loan

preltamo para ajulte de la(s) politica(s) indultrial y comerdal industrial and trade policy adjustment loan ITPAL [World Bank] preltamo para ajuste del sector agricola agricultural sector adjustment loan - ASAL [World

prestamo (que lie halla) en dificnltades distressed loan preltamo en espede commodity loan preltamo en forma de participacion en el capital equity loan pre.tamo en pirimide, en caseada apex loan prestamo en tramitadon pipeline loan pre.tamo en una sola moneda single currency loans, [IBRD] preltamo en valores security lending prestamo garantizado secured loan prestamo inactivo inactive loan

Bank] preltamo para ajuste del sector exportador, de exportacion export adjustment loan - EAL prestamo para (fines de) ajuste sectorial sector adjustment loan - SECAL; SAD preltamo para asiltencia teenica technical assistance loan - TAL prestamo para capital de trabajo working capital loan prestamo para cubrir posibles RCesos de coltos overage loan preltamo para importaciones con fines de rehabiUtacion rehabilitation import loan pristamo para inversi6n y mantenimiento sectoriales sector investment and maintenance loan - S1M preltamo para programas prograInloan,lending

prestamo incluido en elsiltema de fondo comun demonedas pooled loan

preltamo para programas de un pais, de paises country loan [mRD]

pristamo independiente, aut6nomo free-standing loan

preltamo para proyecto de inversion investment loan

pre.tamo indizado, reajustado IlegUn un indice indexed, index-linked, index-tied loan

preltamo para radonalizaci6n de empresas 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 public enterprise reform loan - PERL

prestamo transitorio, de transicion, "puente" bridge, bridging loan

prestamo para rehabilitacion de empresas publicas public enterprise rehabilitation loan - PERL

prestamos (a un pais) desembolsados y pendientes country exposure [IBRD]

prestamo para un proyecto, para proyectos project loan, lending

prestamos en apoyo de reformas de politic as policy-based lending; policy loans [IBRD]

prestamo para una inversion especifica specific investment loan - SIL [ffiRD]

prestamos en condiciones comerciales commercial lending

prestamo participatorio con obligacion contingente de pago de intereses deferrable participating loan

prestamos en moneda unica single currency loans, [ffiRD]

prenamo poco rentable, de escaso rendimiento badly performing loan prestamo por etapas time-slice loan prestamo prioritario senior debt, loan

prestamos hipotecarios mortgage financing prestamos no voluntarios involuntary lending prestamos obtenidos de intermediarios financieros intermed.iativeborro~ng

prestamo problematico problem loan [!FC]

prestamos para (fines de) ajuste estructural structural adjustment lending - SAL

prestamo que entraDa un riesgo soberano sovereign risk loan

prestamos pendientes exposure; outstanding loans

prestamo representado por obligaciones convertibles [CFI] convertible debenture loan investment [!FC]

prestamos voluntarios voluntary lending; spontaneous lending

prestamo sectorial, para un sector sector loan prestamo sin finalidad especifica nonpurpose loan prestamo sOlido, seguro sound loan prestamo subordinado subordinated loan prestamo subsidiario subsidiary loan

prestar de nuevo (el importe de un prestamo) onlend, to prestar de nuevo (el importe de un prestamo) relend, to prestatario activo active borrower prestatario inactivo inactive borrower, nonactive borrower prestatario preferencial, preferente, de primera clue prime borrower; premier borrower

380

zero base budgeting - ZBB

presupuesto extraordinario extraordinary budget; special budget

presupuestacion completa full budgeting

presupuesto global de la explotacion agricola whole farm budget

presupuestaclon en dol ares constantes conmantdoUarbudgeting

presupuesto igual, sin cambio, sin aumento flat budget

presupuestaclon en dolares corrientes current dollar budgeting

presupuesto multianual forward budgeting

presupuestacion incremental incremental budgeting

presupuesto ordinario regular budget

presupuesto cost estimate; resource envelope

presupuesto ordinario, corriente current budget

presupuesto (de una unidad del Banco) unit budget envelope

presupuesto para programas reembolsables reimbursable budget

presupuesto basado en los costos efedivos dollar budgeting

presupuesto parcial partial budget

presupuesto broto gross budget

presupuesto por funciones performance budget

presupuesto de caja cash budget

presupuesto por programas program budget

presupuesto de capital capital budget

presupuesto por unidad de actividad unit activity (crop) budget

presupuesto de divisas exchange budget

prevalencia prevalence [disease]

presupuesto de explotacion, operacion operating budget

prevision social social insurance

presupuesto de gastos discrecionales discretionary expense budget

previsiones de caja cash forecast

presupuesto de gastos generales directos direct overhead budget

previsiones inflacionarias inflationary expectations

presupuesto de inversiones investment budget

previsiones para fines de planificacion planning forecasts

presupuesto de la explotacion agricola farm budget

prima bonus; incentive payment; premium [MIGA]; premium [securities]

presupuestaclon a partir de cero

381 prima cambiaria exchange premium prima contingente standby premium [MIGA] prima de, por caUdad quality premium prima de emision premium [stocks] prima de innacion inflation premium prima por descarga rapida despatch money; dispatch money prima por reembolso anticipado premium on prepayment [IBRD] prima por trabajo en el exterior overseas allowance primer memorando oficial initiating memorandum - 1M [World Bank] primeros procesos upstream process principal principal principal sorten economico principal (income) earner principales productos blisicos, primarlos core commodities [IBRD] p.incipiante trainee principio de proporcionalidad pro rata rules [ID A] principio de quien contamina paga polluter-pays principle - ppp principio de utilizacion de los fondos del Banco en primera instancia "Bank first" principle

principio de utilizacion de los fondos del Banco en ultima instancia "Bank last" principle principio del trato entre iguales, entre compailias independientes ann's length principle principios relativos aI empleo del personal Principles of Staff Employment [World Bank] privatizacion divestiture; divestment privatizacion mediante cupones voucher privatization probabilidad de perdida de carga loss of load probability - LOLP problema de las colas queuing theory, problem problemas de cobertura efectiva, de incorporacion aI plan, de participacion en el plan take-up problems (of means-tested pension plans) problemas iniciales teething problems procedimiento contable, de contabilidad accounting procedure procedimiento de aprobacion t'cita "no objection" (procedure) procedimiento de dos sobres two-envelope procedure [consultants] procedimiento oral oral procedure [ICSID] procedimiento simplificado (para proyectos.••) streamlined project procedure procedimientos de adquisicion procurement (procedures) procedimientos separados two-stage, two-step procedure [IBRD]

382 proceso de evaluacion del desempeilo (del funcionario) Perfonnance Management Process - PMP proceso presupuestario budget process produccion output produccion a escala comereial commercial production produccion a que se renuncia forgone output; foregone output produccion agricola, de cultivos crop production

produdo output; proceeds produdo agricola bruto gross value product - GVP produdo agricola para elaboracion de bebidas beverage crop produdO basico agricola no a1imentario non-food agricultural commodity produdo basico, primario commodity producto de marea registrada brand name product

produccion alimentaria, de alimentos food production

produdo destinado por 8U propia indole a determinados grupos de la poblacion self-targeting (commodity)

produccion antieconomica uneconomic production

producto estrdla flagship product

produccion combinada de calor y electricidad combined heat and power - CHP

produdo (armaceutico generico generic drug

produccion de abonos a partir de desechos composting

produdo fisico marginal marginal physical product - MPP

produccion de alimentos para consumo propio autoconsumption of food

producto geogrMico bruto - PGB [Chile] gross domestic product - GDP

produccion en gran escala, en serie mass production

produdo intemo ajustado con(orme a consideradones ambientales - PIA environmentally adjusted domestic product - EDP

produccion medida, e(ediva measured production producir efedo multiplicador [finanzas) leverage, to productividad del capital capital efficiency produdividad marginal dd capital marginal efficiency of capital produdividad total de los (adores total factor productivity· TFP

produdo interno bruto - PIB gross domestic product - GDP produdo intemo bruto a precios de mereado gross domestic product at market prices produdo intemo bruto aI costo de los (actores gross domestic product at factor cost produdo material bruto - PMB gross material product· GMP

383 producto material nete - PMN net material product - NMP produeto nacional bruto - PNB gross national product - GNP producto nacional neto sosteoible - PNNS sustainable net national product - SNNP produdo primario, buico primary product. commodity producto sensible a la coyuntura sensitive product producto territorial bruto [peni] gross domestic product - GDP producto ittU neto net beneficial product productor compensador, de compensacion swing producer

programa de alcance exterior, de extension, de divalgaclon outreach program programa de alimentos ,or trabajo food-for-work programme programa de atendon especial program of special emphasis - PSE programa de cooperacion cooperative program programa de demanda de aliment08 food demand program Programa de Desarrollo de la Capacidad de Evaluadon Ex Post Evaluation Capability Development Program ECDP[IBRD] programa de eliminacion gradual de los prestamos del Banco phase out program [IBRD]

produdos agricolu crops

productos alimentarios foodstuffs productos industriales industrial goods produdOl pesados heavy commodities programa schedule

programa de finaneiamlento lending program Programa de intervenciones dirigidu Program of Targeted Interventions programa de medidu, etc. package programa de medidu de rescate, de salvamento rescue package programa de operaeiones operating program [IBRD]

programa (de financlamiento) buico base (lending) program [IBRD]

programa (de rmandamiento) de raerva standby (lending) program [WRD] programa coya magnltud depende del volumen de actividad volume driven program

programa de operaeiones crediticlu lending program programa de "quinta dimension" Fifth Dimension Program programa de reestructuracion de la deada debt work-out program [World Bank] programa de ventu subvencionadas social marketing program [population]

384 programa integrado de capacitadon y perfeccionamiento de fundonarios que ocupan cargos de direccion integrated management training program programa ordinario de financiamiento regular lending program [IBRD] Programa para la Maternidad sin Riesgos Safe Motherhood Initiative [IBRDIWHO] programacion lineal linear programming programas software programas de fortalecimiento institucional institutional programs [IBRD] programas focalizados, dirigidos a grupos especfficos targeted programs programas preparados por el gobierno mismo government-owned programs progresividad arancelaria tariff escalation progreso development proliferacion de algas algae, algal bloom

promesa de participacion en el capital accionario pledge (ofshares) []FC] promocion de la autonomia empowerment promocion del comercio trade promotion promotor motivator [family planning]; outreach worker;

sponsor promotor inmobiliario real estate developer

propension marginal (a1 consumo, aI ahorro, etc.) marginal propensity (to consume, to save, etc.) propietario registrado record owner proporcion de importadone8 sujetas a barreras no arancelarias trade coverage ratio propietarios de las accione8 ownership (of a corporation) propuesta tender propuesta de candidatura nomination

proliferacion de 8Sentamientos urbanos utban sprinkling

promediados rolled (costs) promedio movil running average; moving average promedio ponderado weighted average promesa de contribucione8 pledging

prospecto prospectus [financial markets] proyeccion del flujo de fondos cash projections proyectista designer proyecto design

385 proyecto agropeeuario; proyecto de cultivos multiples mixed :fanning project proyecto aislado outlier project proyecto bAsico core project proyecto compeosatorio shadow project proyecto complementario follow-up project proyecto complementario repeater project proyecto concatenado piggyback project

proyecto de "nuevo estilo" "new style" project [ffiRO] proyecto de presupuesto budget estimates proyecto de nipido reodimiento quick yielding project [IBRO] proyecto de rehabiUtacion del sector de exportacioo export rehabilitation project - ERP [IBRO] exportador~

proyecto empreodido a instaocias gubemameotales bebest project proyecto en avanzado estado de ejecucion~ proximo a termioarse mature project

proyecto de a1cantarillado sewerage project

proyecto en que Ie bara todo 10 posible para lograr la participacion de la mujer "best effort" project [IBRO]

proyecto de ambito nacional countIy-wide project

proyecto eo tramitacion~ eo reserva pipeline project

proyecto de caracter social soft project

proyecto eo un sector especifico area specific project

Proyecto de Comparacion Intemacional - PCI International Comparison Project - ICP

proyecto eoclave enclave project

proyecto de cootenido minimo minimum package project

proyecto financiable (por el Banco) bankable project

proyecto de desarrollo rural integrado integrated rural development project

proyecto global umbrella project

proyecto de exposicion showcase project

proyecto indepeodiente stand-alone project

proyecto de fines multiples multipurpose project

proyecto independiente~ autonomo free-standing project

proyecto de inversion investment project

proyecto integrado de conservacion y desarrollo integrated conservation-development project ICDP

proyecto de muy corto plazot relampago hit-and-run project

386

proyedo Dave en mano turnkey contract, project

prueba de "con y .In" "with-and-without" test [projects]

proyedo modelo good practice project

prueba de variedad(es) variety trial

proyedo no bisico noncore project

prueba del rendimiento de los proyedos yield test of projects

proyedo no Induido en la cartera nonportfolio project [IFC]

pruebas de aprovecliamiento, de progreso eKolar, de rendimiento achievement tests [education]

proyecto puntero, de punta flagship project proyedo que se autofinanda self-liquidating project proyedO que sirve de marco para otros umbrella project proyecto totalmente nuevo greenfield project proyedos azules blue projects

pruebas documentales documentaly evidence publicad6n especializada para determinada industria, negodo 0 profesion trade publication publkad6n estreUa flagsbip product publicad6n mediante microcomputadora desktop publishing pueblos tribales

proyedos en tramitacion, en reserva lending pipeline; pipeline of projects proyectos en tramitad6n, en reserva pipeline of projects; lending pipeline; project pipeline

tribal peoples

puente-biscula weighbridge puerto de aguas profundas deep water port

proyectos en tramitad6n, en reserva project pipeline; pipeline of projects; lending pipeline

puerto franco, libre free port

proyedos marrones, pardos brown projects

puesto de atraque de fines multiples multipurpose berth

proyectos verdes green projects

puesto de monta service station [livestock]

prueba evidence [ICSID]

puesto de monta, de cubridon, de reproduccion breeding station [commercial breeding]

prueba de "antes y despues" "before-and-after" test

puesto de salud health post

387 puesto de venta de productollUbvencionadol

fair price shop

racionalizaci6n streamlining

PUeRO ejecutivo, de operaciones

rafces aUmentarias

line position

rooterops

punto (porcentual)

percentage point

ramo business line

punto maximo estacional seasonal peak

rapido desembolso quick disbursing (loan); fast disbursing (loan)

punto muerto, de equUibrio

rapido desembolso, pristamo de fast disbursing (loan); quick disbursing (loan)

breakeven point que genera deudas

debt -creating

raza 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 adjustment

price setter, maker, leader que no afecta al presupuesto

budget neutral

reajuste financiero financial adjustment

que no cumple 101 requisitos

reaseguro contractual

ineligible

treaty reinsurance

que no se ajusta (a las estipulaciones, normas, etc.)

facultative reinsurance

reaseguro facultativo

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 racimo de fnatas freseas

fresh fruit bunch - FFB

rebaja de intereses interest rebate

3SS rebajar de categoria downgrade, to (a loan)

recirculation (de capital) recycling (of capital)

rebajar el valor en libros write down. to~ expense, to

reclamacion claim

rebeldia (unicamente en el sentido del Art. 45[2) del Convenio) default [ICSID]

reclamacion salarial wage claim

rebrote regrowth recalentamiento atmosferico, de la Tierra global warming recargo a la(s) importacion(es) import surcharge recargo 0 multa para reducir las emisiones de carbono carbon tax recargo tributario tax surcharge recaudacion de impuestos collection of taxes recaudacion tributaria tax yield receptor de creditos de la AlP IDA recipient recesion recession; slump recesion con inflacion slumpflation recibo certificate of payment reciclaje recycling (of capital) recinto (ocupado por una familia e:rtensa) compound [West Africa]

reclasificacion regrading [personnel] recolocacion outplacement recompras en efectivo cash buybacks reconciliar reconcile reconocimiento medico health screening reconocimiento sismico seismic survey reconocimiento yejecucion (de un laudo) recognition and enforcement (of award) [ICSID] reconstitucion de los recursos replenishment of resources reconstituir replenish (an account), to reconversion industrial retrofitting recopUacion de datos collection of data recopilacion de datos data collection recorte de la demanda de punta peak (load) shaving [electricity] recubrimiento overlay [highways]

389 reeubrimiento de grava graveling; regraveling

recuperar reclaim

reeuento de trafico traffic count

recuno (legal) legal remedy

reeuperaci6n recovexy

recuno provisional stopgap measure

reeuperaci6n retrieval; upturn (economic)

reeunos buicos core fund [GEF]

reeuperaci6n acelerada accelerated recovery

reeunos en divisas foreign exchange resources

reeuperaci6n de cosios cost recovery

reeur80s iDexplotados untapped resources

reeuperaci6n de la iDveni6n return of investment

recunos propios internally generated funds; cash generation; internal cash generation

reeuperaci6n de tierns land reclamation reeuperaci6n de un prestamo, de prestamos loan recovexy

recur50s provenientes de las operacione8 internally generated funds; cash generation; internal cash generation

reeuperaci6n del capital return of capital

recunos reservados (para un determiDado proyecto) tied resources

reeuperaci6n diferida deferred recovery

recusaci6n disqualification [ICSID]

reeuperaci6n estandar standard recovery

red de area local - LAN local area network - LAN

Recuperaci6n Garantizada del Principal de las Inveniones - GRIP Guaranteed Recovery of Investment PrincipalGRIP [JFC)

red de distribuci6n, de reparto delivery system; supply system

recuperaci6n mejorada enhanced recovery [oil] reeuperaci6n secundaria secondary recovery reeuperaci6n terciaria tertiary (oil) recovery

red de energia electrica power system red de seguridad social social safety net red interurbana trunk network red principal main power grid [electricity]

390

redactor jefe editor

reducciones presupuestarias budget cuts

redencion redemption

reducir de tamaAo downsize, to

redescontar rediscount

reembolso refunding

redescuento discount window [central bank]; rediscount

reembolso anticipado advance repayment; prepayment [IBRD]

redimible redeemable

reembolso de impuestos tax refund

redistribucion (de fondos) redeployment (offunds)

reembolso (anticipado) de la deuda retirement of outstanding debt

reduccion drawdown; rolling back

reembolso en cuotas iguales level repayment

reduccion de costos avoided cost

reembolsos concentrados al comienzo de un periodo front loading

reduccion de impuestos tax rebate

reduccion de las tasas mUimas de cada tramo aranceiario, del araneel concertina reduction

reembolsos de los creditos de la AD IDAreflows reemplazo de personal extranjero por personal nacional indigenization

redueeion de los impuestos tax mitigation

reduccion de los margenes de utilidad profit squeeze reduccion de personal redundancy [staffing] reduccion del capital capital impairment reduccion del valor en libros writing down

reestructuracion empresarial, de empresas corporate restructuring reestructuracion f"manciera workout [financial] refinanciacion refinancing refinanciacion refunding refinanciamiento refinancing

reduccion inicial down payment (on the budget deficit) reducciones arancelarias radiales radial reductions

refinanciamiento continuo rollover

391 ref"mar upgrade, to [oil]

regia del primer do 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 Staff Rules [IBRD]

IDAreflows reforestaciOn reforestation~

reafforestation

reforma de la tenenda de la tierra land reform refugio tributario

Reglamento Intemo para las Reuniones del Directorio Rules of Procedure for Meetings of the Executive

Directors Reglamento y Reglas (del Centro) Regulations and Rules (of the Centre) [lCSID]

tax shelter reglamento~

regimen cambiario

estatutos

bylaws

exchange system Reglas de Arbitraje regimen de licencias de importation import licensing

AIbitration Rules [ICSID] 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 registrado

registered (e.g. tradesmen) registrador

Reglas ProcesaJes Aplicables a la Iniciacion de los Procedimientos de Conciliacion y Arbitraje (Beglas de Initiation) Rules of Procedure for the Institution of Conciliation and AIbitration Proceedings

(Institution Rules) [lCSID]

registrar [lCSID] Registro

Register [lCSID] registro (de valores) perfection (of security)

Reglas Procesales Aplicables a los Procedimientos de Arbitraje (Beglas de Arbitraje)

Rules of Procedure for AIbitration Proceedings (AIbitration Rules) [ICSID]

land register

Reglas Procesales Aplicables a los Procedimientos de Conciliation (Beglas de Conciliacion) Rules of Procedure for Conciliation Proceedings

registrode iagresos

(Conciliation Rules) [ICSID]

registro catastral

revenue recognition regulacion de (las) aguas regia de los dos dos

two-year trigger rule

water control

392 regulation de la demanda demand management

relacion capital~servieio capital-service ratio

regulaeion de la oferta supply management

relacion capital-trabajo capital-labor ratio

regulacion salarlal wage control

relacion contractual (bipamta) privity [legal]

rehahilltaclon rehabilitation

relation eorriente [America Latina) current ratio; working capital ratio

reintegro

relacion costos--heneficios ratio [US]; cost-benefit ratio [UK]

drawback [customs]; recall [MOV]

benefit~

reintegro a pro rata, proporeional pro rata recall

relacion costos--henefitios empresarlales, de las empresas entrepreneurial benefit-cost ratio - EBC

reintegro acelerado accelerated recall [MOV] reintegro de impuestOIL tax refund

relacion costos--henefieios privados private benefit-cost ratio - PBC reladOn costos--heneficioilloclaies

social benefit-cost ratio - SBC reintegro de los montos en prestamo

recall under loans [MOV] reivindicacion salarial wage claim relacion activo disponih1e-pasivo corriente acid-test ratio; liquid ratio; quick ratio relacion activos de riesgo-patrimonio IFC risk assets~uity ratio relacion alumnos--profesor, alumnoll por profesor pupil-teacher ratio - PI'R; student-teacher ratio STH.; teacher-pupil ratio

relacion de Bruno Bruno ratio relacion de cobertura de intereses interest coverage ratio - ICR; times interest earned ratio relacion de cobertura de las importaclones import coverage ratio relaclon de cuenta accounting ratio relaclon de dependencia (por edades) dependency ratio

relacion heneficio net.inversion net benefit investment ratio

relacion de desmonte stripping ratio [mining]

relaciOn capital-activo equity ratio

relacion de endeudamiento debt ratio

relaclon capital-produeto capital-output ratio

relaeion de endeudamiento a largo plazo long-term debt ratio

393 relaci6n de energia neta - KEN net energy ratio - NER

relaci6n iDsumo-producto

input-output ratio

relaci6n de pstos

relaci6n iDtereses de la deuda - exportadona

statement of expenditure - SOE

debt burden ratio

relad6n de iDestabilidad volatility ratio [stocks] relaci6n de iDtercambio terms of trade relaci6n de iDtertambio de dos fadores

relaci6n pasivo-eapital

gearing ratio; free resource ratio; capital gearing ratio; leverage (ratio) [US]; gearing (ratio) [UK]; gearing ratio [!FC] relaci6n personal-poblaci6n sta:f:Iing ratio

double factorial terms of trade relaci6n precio-utilidades relaci6n de iDtercambio de iDgresos income terms of trade relaci6n de iDtercambio de trueque

barter terms of trade

price-earning ratio; PIE ratio - PER relaci6n prbtamos desembolsados y pendientes-eapital y re8en'as [Banco Mundial] gearing ratio; free resource ratio; capital gearing

ratio relaei6n de iDtercambio de un solo factor

single factorial terms of trade

relaci6n profesor-alumnos

relaci6n de recaudaci6n de impuestos

student-teacher ratio - STR; pupil-teacher ratio 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

relaei6n dosis-efeeto

industrial relations; labor-management relations; labor relations

dose-response relationships relaciones financieras relaci6n endeudamiento-eapital propio gearing [UK]; leverage

::financial ratios

relaei6n endeudamiento-capital propio leverage (ratio) [US]; gearing (ratio) [UK]

labor-management relations; labor relations; industrial relations

relaciones obrero-patronales

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 ambiente

taxlGDP ratio

clean-up (environmental) relaei6n incremental capital-produdo

incremental capital-output ratio - ICOR

394 rendimieDto esc:olar educational achievements reDIeIU de 101 trabajadores (emigrados, apatrladOl) workers' remittances

reDdimiento medio nete de los actiVOl productivos average earning assets - ABA

remisioD

reDdimieDto miDimO tloorreturn

referral

remora fiu :fiscal drag

reDdimiento termico heat rate

remuneracloD compensatioD; earnings

reDdimieDtos decredeDtes diminishing returns

remuneradoD Beta take-home pay

reDgioD arancelario tariff line

renditioD de cuental accountability

renivelacioD regrading [highways]

rendimieDto perf01'ID3DCe

renovacioD retrofitting; rollover

reDdimiento a eKaia returns to scale

reDovacioD de la superfide resurfacing [highways]

rendimiento al venclmieDto yield to maturity - TIM

renta income

rendimiento COrrleDte current yield

reDta de mODopolio monopoly rent

rendimiento de la invenioD investment return. yield; return on, to investment

reDta econ6mica economic rent

rendimiento del capital return on, to capital

reDta per capita, POI' habitante per capita income

rendimieDto en fundoD de la eua returns to scale

reDta presoDta assessed income

rendimiento en la fabricacloD, la molienda, el maquinado milling yield

reDta(s) proveniente(s) de propiedades publicas property income [government]

rendimieDto equivalente a UD interes DOminal coupon equivalent yield

earning power

rentabilidad rentabilidad de equilibrio del mercado market-clearing returns

395 rentabilldad de la aversion investment return. yield; return on. to investment

repoblacion forestal afforestation; reaft'orestation; reforestation

rentabilldad del capital capital efficiency; return on. to capital

repoblacion forestal reforestation; reafforestation

rentabilldad media neta de los activos productivos average earning assets - AEA

reponer replenish (an account), to

renw revenues; returns rentas publicas government receipts, revenues renuncia droppage []FC]; waiver (of a right) [ICSID]; waiver (of immunity) [ICSID] renuncia (a un derecho) waiver renunciar (a un derecho) waive, to reorganizaciOn rehabilitation reorientacion del gasto expenditure-switching reparacion de baches patching; spot improvement, patching; road, surface patching [highways] reparacion de los danos ambientales clean-up (environmental) reparaclon general de equipo overhaul [equipment) reparticion en poreiones, tramos tranching [loans]

reposiciOn de eustencias restocking reposicion de los recursos [AlF] replenishment of resources represa de almacenamiento storage dam represa de derivacion diversion dam represa de terraplen earthfill dam representacion representative office [bank] representante de ••• chair representing ... [World Bank Executive Directors] representativo proxy represion rmanciera financial repression rep.-estamo onlending; onward lending represtar onlend. to; relend. to reproductor [ganaderia)

breeder [agriculture] repereusiones de las alzas de precios ripple price effects repeticion de un proyecto, program a

rollover project, program

reproductores breeding stock

396 reprogramad6n (dd semclo) de la deada debt rephasing; rescheduling of debt; rephasing of a debt; debt rescheduling repataci6n en materia de credito credit standing requerimiento de capital call for capital; call of capital reqaisito de dep6sito previo, anticipado (a la importaci6n) advance deposit requirements (on imports) requisito(s) en materia de in(ormes reporting requirement(s)

rese"a de biosfera biosphere reserve rese"a de valor store-of-value rese"a del Presidente President's Contingency rese"a especial Special Reserve [World Bank] rese"a notante en e(ectivo floating cash reserve Rese"a General General Reserve(s) [mRD]

requisitos de desempeilo, cumplimiento, funcionamiento performance requirements [contracts]

Rese"a general para perdidas General Loss Reserve [IFC]

requisitos que deben cumpline eligibility; eligibility conditions

rese"a genetic&, genica gene pool

resarcimiento recoupment [insurance]

rese"a minima obligatoria minimum cash requirement

rescatable redeemable

rese"a obligatoria legal reserve; reserve requirement

rescate redemption

rese"a obligatoria marginal marginal reserve requirement

rescate (anticipado) de la deuda retirement of outstanding debt

rese"a para depreciacion capital consumption allowance; reserve for depreciation; allowance for depreciation; depreciation allowance

rescate de la deuda debt retirement rescindir [nombramiento] terminate resclsi6n termination resellado resealing [highways] rese"a provision [accounting]

rese"a para imprevistos contingent reserve rese"a para imprevistos, para contingencias allowance for contingencies; reserve for contingencies; contingency allowance rese"a para perdidas loss provision; provision for losses; reserve for losses; reserve against losses rese"a por agotamiento depletion allowance, reserve

397 Raerva Suplementaria para perdidas en pr&tamos y por devaluaciones de monedas (Reserva Suplementaria) Supplemental Reserve against Losses on Loans and from Currency Devaluations (Supplemental ReselVe) raervas de divisas foreign exchange reserves raervas de oro gold holdings raervas disponibles free reserves raervas intemacionales international reserves raervas ocultas hidden reselVes raervas primarias primary reserves reservas recuperables dermitivas - RRD ultimate recoverable reselVes - URR resometimiento (en el sentido del Art. 52[6] del Convenio) resubmission [lCSID]

resquicio window (in a market) resquido tributario tax loophole restriccion a la admisibilidad de lidtantes bracketing restriccion del credito credit squeeze; credit tightening restricdon del credito credit tightening; credit squeeze restriccion oficiosa del credito window guidance [central bank] restriccion pronundada del credito credit crunch restriccion salarial wage restraint restricciones crediticias tightening of credit result ado final bottom line resultado(s) finandero(s) financial performance, results

responsabilidad accountability responsabilidad ante mas de una autoridad, entidad, jere matrix reporting responsabilidad global maxima

resultados performance resultados economicos economic performance

maximum aggregate liability [MIGA]

resultados esco)ares educational achievements

responsabilidad macroeconomica macro-level accountability

resumen executive surnnuuy

responsabilidad microeconomica micro-level accountability

resumen de actividades previstas activity brief [EDI]

responsabilizar empower

pay-as-you-eam - PAYE; pay-as-you-go [taxation]

retendon (de impuestos) en la (uente

398 retencion del bnpuesto tax withholding

retencion en, como pranda retention money retencion tennka heat trapping retirar fondos draw, to (funds) retiro de una moneda de la circulacion calling in of a currency retraso lag; slippage; time lag retroaccion feedback (ofinfonnation) retroarriendo leaseback retrocesion en arrendamiento leaseback retroinformacion feedback (ofinfonnation) reubicacion outplacement Reunion ADual Annual Meeting [ICSID] reunion de condusiones wrap-up meeting reunion en dos niveles two-tier meeting

Reuniona ADuala del Banco Mundial y del Fondo Monetario Intemacional Annual Meetings (of the Boards of Governors) of the World Bank and the International Monetary Fund reuniones de grupos de representantes de los interesados focus group reutBizacion de las ganancias rollover of gains revalorizacion revaluation revaluacion revaluation revestimiento overlay [highways]; surfacing [highways] riego por anegacion controlada flood control irrigation riego por aspersion spray irrigation; sprinkle irrigation riego por aspersion con pivote central center pivot sprinkle irrigation riego por compartimientos basin irrigation; level border irrigation riego por corrugacion corrugation irrigation riego por desbordamiento natural wild flooding riego por eseorrentfa, por eseurrimiento runoff irrigation

Reunion Inaugural

Inaugural Meeting [ICSID] reunion informal (del Diredorio) Board seminar reunion oficiosa informal meeting

riego por goteo drip irrigation; dribble irrigation; trickle irrigation riego por gravedad gravity irrigation

399 riego ,or gravedad eon retenes border check irrigation; border ditch irrigation; border irrigation; border strip irrigation; gravity check irrigation; nllbon check irrigation; strip check irrigation; strip irrigation

riesgo de perdida en, ,or eoncepto de intereses interest rate risk riesgo de transf'ereDcia de mooed a currency transfer risk [MIGA]

riego ,or lnundacion

riesgo moral

flood irrigation; spate irrigation

moral hazard

riego por microaspersion micro-sprayer irrigation

riesgo que plantea el Estado prestatario sovereign risk

riego,orsureOB furrow irrigation

riesgo IOberano sovereign risk

riego por sureol peque601 y pro:dmOB corrugation irrigation

rielgOB no cubiertol excepted risks

riego por tablares, ,or eras border check irrigation; border ditch irrigation; border irrigation; border strip irrigation; gravity check irrigation; ribbon check irrigation; strip check irrigation; strip irrigation

rizomas rhizomes; rootstock crops

riego subterrlineo subirrigation; subsoil irrigation

roce ash farming; bum-beating; burning

riego superficial, de superficie surface irrigation

knapsack spraying

roca fosf'atadilt fosf'orita rock phosphate; phosphate rock

rodado COD tanque Devado a la espalda

riesgo

rociado de muy bajo volumeD

exposure

ultra low volume (ULV) spraying

rielgo admilible eligible risk

rodal stand [forest]

riesgo cambiario exchange risk; foreign exchange risk

Ronda Ul1lguay Uruguay Round [GAIT]

riesgo conjunto

rotaci6n turnover

co-exposure [insurance]

risk of expropriation [MIGA]

riesgo de expropiacion

rotacion del inventarlo, de las e:dstencias inventory turnover

riesgo de incumplimiento de contrato breach of contract risk [MIGA]

rotafolio flip chart

riesgo de lOB baneos bank exposure

ash farming; bum-beating; burning

roza

400

ruido de fondo

saldos pendientes

background noise

overhang

saear de apuros bail out, to

carryovers

saeudiJniento

shakeout (of the market)

saldos que Ie traspasan

saldol retenidos para cubrir operac:iones a 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 salario de cuenta social

salida en el orden de adquisicion, fabricac:ion, etc. first in, :first out - FIFO

social shadow wage rate • SSWR salario de efieienda efficiency wage

salida en orden inverso aI de adquisicion, fabricacion, etc. last in, :first out - LIFO

reservation salary, wage

salida impresa hard copy

salario monetarlo, nominal money wage

sanitation

salario neto

saneamiento ambiental

take-home pay

environmental health. sanitation

salario IOmbra shadow wages

portfolio cleanup

saldo ac:reedor no utilizado

saneamiento de tierras

unspent credit balance

land reclamation

salario de raerva

saneamiento

saneamiento de la cartera

saldo de, en caja

sanear

cash ba1ance~ cash holdings; cash in hand; cash on hand

reclaim

saldo no utilizado

earth resources satellite

satelite de exploracion de 101 recursos terrestres undrawn balance

saldo traspasado balance canied forward

satelite para e1 estudio de los rec:ursos terrestres earth resources satellite seccion de evisceracion

saldos en efectivo

balances [cash1

dressing section, hall [slaughtering]

401 sea:ion esdndar (del presupuesto) standard charge section

food security

seguridad alimentaria

Secretario Geaeral Adjunto Deputy SecretaIy General [ICSID]

seguridad de tenencia security of tenure

sedor de la construcclon construction sector

seguridad en el cargo security of tenure

sedor empresarial corporate sector

seguridad social social insurance

sector estrueturado formal sector

seguridades aceptablel para 101 bancos bankable assurances

sector informal informal sector

seguro contra todo rielgo all risk insurance; comprehensive insurance

sector no estrudnrado informal sector

seguro de desempleo unemployment compensation, benefit

sectores de producclon primaria commodity producing sectors

seguro de inversion investment insurance

sectores productivos real sectors

seguro multilateral de inverliones multilateral investment insurance

secuestro seizure [legal]

seguro social social insurance

seguimiento follow·up; monitoring

selecci6n triage

seguimiento del desempeilo, de los resultados performance monitoring

selecci6n automatica interurbana subscriber trunk dialing· SID

seguimiento y evaluaclon monitoring and evaluation· M & E

seleccion de 10 mejor cheny picking

segUn registro de caja

seUado superficial, de superficie

cash basis, on a

surface dressing [highways]

segunda alternativa second-best optimum

tropical rain forest

segunda linea de reservu secondary reserves

selva pluvial rainforest

seguridad

sementales breeding stock

security

selva (pluvial) tropical

402 semUla bUiea foundation seed.

senicio a eambio del pago de honorariol fee-based service [IFC]

semUla certif"lCada certified seed.

senicio baneario internacional international banking facility - IBF

semUla de primera reproducclon, del mejorador breeder seed.

senicio de emision de pagarel - SEP revolving underwriting facility - RUF; note issuance facility - NIP; prime underwriting facility -PUF

semUla regi8trada registered seed. semillu de campo field seeds semimontado semiknocked down - SKD Seminario de polfticu de. •• Senior Policy Seminar on... [EDI]

Senicio de financiamiento a largo plazo para la compra de bienes de capital por los paises en desarrollo Long-term Facility for Financing Purchases of Capital Goods by Developing Countries [IBRO] senicio de financiamiento transitorio bridging facility

Seminario de polfticu generales Senior Policy Seminar [EDI]

senicio de pristamos en condiciones ordinarias, no concesionarias hard loan window

sensibiIidad a las tuas de interel interest (rate) sensitivity

senicio de reestl1leturacion de la deuda Debt Restructuring Facility - DRF

seilal de alert&, de prevenclon warning signal

senicio de sobregiro overdraft facilities

separacl.on de riesgos fmancleros unbundling of financial risks

senicio de transmision wheeling

separacl.on del senicio separation [employment]

Senicio especial de fmanciamiento para productos mineros de los paises ACP y PTUM Sysmin (= Special :financing facility for ACP and OCT mining products) [European Communities]

serle cronologica time series serie de beneficiOl benefit stream serle de dispolicionea, equipos, proyectoR, actividadea, fmanciamiento package serle de medidas financieras :financial package senicio facility

senicio financiero de ajuste estl1lctural (SAE) dentro del marco de la Cuenta Especial de Desembolso Structural Adjustment Facility (SAP) within the Special Disbursement Account [IMF] senicio minimo nominal service senicio para la transformacion sistemica Systemic Transformation Facility [IMP]

403 serviclo para priltamol concesionanos soft loan window serviclo paraestatal parastata1 (noun] servici08 bancari08 para consumidores retail banking servicios comunitari08 de 8Ilud community health services serviclos conexos incidental services servici08 de apoyo backstopping servici08 de credito, credidci08 credit facilities servici08 no atribuibles a fadores nonfactor services - n.f.s. servici08 no comerdales nonmarket services [national accounts]

smOR (tua de oferta interbancaria de Singapur) SmOR [= Singapore Interbank Offered Rate] siembra a voleo broadcasting (seed, fertilizer) silvicultura sostenible sustainable forestry simiente8 de campo field seeds simplificaci6n streamlining sin efecto sobre 108 recunos resource-neutral sin garantfa unsecured (note, loan, etc.) sindrome de inmunodeficiencia adquirida SIDA acquired immune-deficiency syndrome - AIDS

servici08 publicos public utilities; utilities

smopsis de acdvidades (no reIacionadas con proyect08 especificos) activity brief [EOI]

servidumbre de paso right of way

sfote8ls informativa sobre un (el) proyecto sununa.Iy of project information

sago bias (economy; statistics]

sintesis sectorial approach paper

sago (por defecto) de margen, de borde border bias

sirope de maiz de alto contenido en fruetosa high fructose com syrup - HFeS

sago (por exceso) de margen, de borde edge bias

sistema (de amortizaci6n, de depreciaci6n) de saldo decreciente declining balance method; reducing charge method

sai6n sitting [ICSID] set08 viv08 live fencing

si, muy bien, pero no en mi barrio NIMBY (not-in-my-backyard)

sistema (0 planes) de reparto pay-as-you-go system (social security] sistema administrativo administrative machinery

404

sistema cambiario exchange system

sistema de licencias de importacion import licensing

sistema de alcantarillado "en condominio" condominial sewerage system

sistema de modelos algebraicos generales General Algebraic Modeling System - GAMS [IBRD]

sistema de alcantarillado (alcantarillado) para efluentes Iiquidos emuent sewerage; solids-free sewerage; small-bore sewerage sistema de alerta anticipada early warning system

sistema de multiples procedimientos para las transacciones multiple trading approaches Sistema de notificacion de la deuda aI Banco Mundial Debtor Reporting System [World Bank]

sistema de arbitraje administrado por una institucion administered arbitration system [ICSID]

sistema de notificacion de la deuda externa external debt reporting system

sistema de capacitacion y visitas training and visit & V] system

sistema de pagos iguales de principal e intereses annuity system [debt service]

sistema de capitacion capitation approach [health financing]

sistema de pagos tot ales iguales (de principal e intereses) level annuity system

rr

sistema de captacion de rentas rent-seeking sistema de cultivo cropping pattern sistema de cultivo sin laboreo, de cero labranza zero tillage system sistema de determinacion de precios en funcion del costo mas honorarios cost-plus pricing system sistema de distribucion, de reparto delivery system; supply system sistema de explotacion agricola farming system sistema de fijacion de tipos, tasas de interes pricing system [financial markets] sistema de honorarios por senicios fee-for-services basis sistema de informacion para la administracion management information system - MIS

sistema de participacion en la gestion, administracion comanagement; codetermination; management participation system sistema de planificacion y evaluacion del desempeiio (del funcionario) Performance Planning and Review - PPR [IBRD] sistema de planificacion, programacion y presupuestacion - Sppp planning, programming, budgeting system - PPBS sistema de presentacion de informes reporting system [projectsJ sistema de prestacion de senicios de salud health delivery system sistema de prestacion, de suministro (de un senicio) delivery system; supply system sistema de prestador preferido - Spp preferred provider organization (PPO) system

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 de emprestitos pendientes

situacion de emergencia latente 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 efectuados en el mismo aDo cash flow system of taxation

international payments position

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 demurrage

sociedad matriz parent company

sobretasa tax surcharge

sociedad no accionaria nonstock corporation

sobrevaloracion de las monedas exchange rate overvaluation

sociedad publica public corporation

sociedad anonima stock corporation

sociedad simple, colectiva partnership

sociedad cuyas acciones se comu en bolsa publicly traded company

socorro relief

sociedad de ahorro y cridito savings and loan association

solicitud de ingreso application for membership

sociedad de aborro y pristamo savings and loan association

solicitud de ingreso membership application

sociedad de cartera, de inversiones holding company

solicitud de pristamo loan application

sociedad de inversion con numero de actiones fijo closed-end investment company, fund [US]; investment trust [UK]

solicitud de propuestas request for proposal. RFP

sociedad de inversiones investment company, fund sociedad de inveniones con numero de acciones variable open-end (investment) fund; unit trust [UK] sociedad de respunsabilidad limitada limited liability company sociedad de valores securities dealer; securities firm sociedad en comudita pur acciones joint stock company sociedad en participacion joint venture sociedad ficticia shell company

solicitud de retiro de fondos (de la cuenta del pristamo 0 cridito) application for withdrawal (from loan account or credit account) solicitud defmitiva de garantia definitive application for guarantee solicitud preliminar de garantia preliminary application for guarantee [MIGA] s6lidos en suspension suspended matter solucion de compromiso trade.atf solvencia creditworthiness; financial standing solvencia economica economic soundness [MIGA]

407

IOsten de la familia breadwinner

subida ,or efeeto de trinquete ratcheting up

sosten de preaos price support

sub inversion underinvestment

sostenibilidad sustainability

subocupacion underemployment

lOStenibilidad ambiental environmental sustainability

subOptimo second-best optimum

STABEX (Sistema de estabilizaclon de los ingresos de exportaclon de los Estados ACP y PTUM) Stabex (System for the stabilization of ACP and OCT mining products) [European Communities]

subprestamo subloan free~limit

statu quo standstill

subprestatario subborrower

subasta de divisas foreign exchange auction

subproyecto subproject

subcapitalizado undercapitalized

subproyectos gestionadoll a trave. de agentes agency (line) subprojects

subcontratista subcontractor

subrasante subgrade [highways]

subcontratista propuesto nominated subcontractor

subsidiaria en propiedad ablOluta wholly owned subsidiaIy

subcontrato subcontract

subsidiariedad subsidiarity

subdivision politica u organismo publico (de un Estado Contratante) constituent subdivision or agency (of a Contracting State) [ICSID]

subsidio a 10 exportaclones export subsidy

subempleo underemployment subfacturaclon de exportaclones underinvoicing of exports subgarante (CFI] subunderwriter [IFe)

subprestamo de aprobatiOn autonoma subloan

subsidio a 10 importaclones import subsidy subsidio a los consumidores consumer subsidy subsidio cruzada(o) intema(o) internal cross subsidy subsidio cruzado cross subsidization

408 subsidio de explotacion, de operacion, de funcionamiento operating subsidy subsidio para instalacion settling-in grant [IBRDJ subsidio por lugar de destino dificil hardship allowance

subvencion para insumo8 input subsidy subvencion para invenion investment grant sueldos y salarios salaries and wages

subsidio por reasentamiento, por reinstalacion resettlement grant

suelo(s) de fertiIidad marginal, de baja fertilidad marginal soil(s)

subsidio por traslado relocation grant

suficiencia de(l) capital capital adequacy

subsidios de asistencia social welfare payments

sujeto aI cobro, aI pago de derec:hos dutiable

subvaloracion de las faduras de exportacion underinvoicing of exports

tax handles

subvencion grant-in-aid

tax net

subvencion a las exportac:iones export subsidy

suma alzada lump sum price

subvencion a las importac:iones import subsidy

suma por la cuallas cantidades devengadas son inferiores a las previstas underaccruals

subvencion a los consumidores consumer subsidy subvencion cruzada cross subsidization subvencion cruzada(o) intema(o) internal cross subsidy

sujetos (potenciales) del impuesto

sujetos, bienes y ac:tividades imponibles

suma total aggregate sumidero sink (e.g. of greenhouse gases) suministro de agoa water supply

subvencion de explotacion, de operacion, de funcionamiento operating subsidy

suministro de energfa a1imentaria - SEA dietary energy supply - DES

subvencion de intereses interest subsidy, subsidization

superar el punto mas bajo bottom out (ofa recession)

subvencion equilibradora balancing subsidy

superavit de explotacion, operacion operating surplus

409 superaivit de las transacciones invisibles

surplus on invisibles

suscripcion de capital sodal, de capital 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 interest (rate) swap

charges [utilities]

swap; interumbio de monedas swap

water charges

tarifas

tarifas de agoa

Sysmin (Senieio eapeeial de fUUUlciamiento para productos mineros de los paises ACP y ProM) Sysmin (= Special fiDancing facility for ACP and OCT mining products) !European Communities]

inverted rates [electricity tariffs]

tabla de toneDOne8 de datos panel data set

tarifas seg60. hora de tOnSUDlO time-of-use (rOU) rates [electricity tariffs]

tabla de insumo-produtto

tasa adivo(a) lending rate

input-output table

tarifas portuarias port charges, tariffs tarifas progresivas

selection felling. cutting

tasa arantelaria media ponderada weighted average tariff rate - WATR.

tanque de inmersion

tasa bruta de matritula (primaria)

dipping tank

gross (primary) enrollment ratio - GER

tala selectiva

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 key money rate; central rate

clean-up (environmental) tariff

tasa tompuesta de trecimiento compound rate of growth

tarifa [precios]

tasa tritita de rentabllidad

tariff schedule

hurdle rate

tarifa de recolecdon de basura(s) household waste collection charge

tasa truzada cross rate

tarifa

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 crossover discount rate; equalizing discount rate

tasa de fecundidad total total fertility rate - TFR

tau de actualizacion social social discount rate; social rate of discount

tasa de importaciones afectadas trade coverage ratio

tau de acumulacion accrual rate

tasa de inflacion de dos digitos, de 10°,4 0 mas double digit inflation; two digit inflation

tasa de analfabetismo illiteracy rate

tasa de innacion de dOl digitus, de 10% 0 mas two digit inflation; double digit inflation

tasa de asimilacion de conocimientos learning rate

tau de intem de cuenta shadow rate of interest

tasa de aumento, crecimiento de las importacione8 import growth rate

tasa de interes efectivo(a) effective interest rate

tasa de carga stocking rate [livestock] tasa de continuidad de utilizacion continuation rate [contraception]

tau de depreciacion de equilibrio breakeven (dollar) depreciation tau de descuento sombra, de cuenta shadow discount rate

tasa de interes inmodificable locked in interest rate tasa de intem negativa negative rate of interest tasa de intem sobre los depositos depositor rate of interest; borrowing rate [banks] tasa de intem sobre los prestamos lending rate

tau de desempleo que no modifica el Divel

tasa de intem sombra shadow rate of interest

salarial nonaccelerating-wages rate of unemployment NAWRU

tasa de intermediacion intermediation rate

tasa de deserdon dropout rate [education]; wastage; waste [education]

tau de desgaste, de eJiminacion, de atricion attrition rate tasa de emision coupon rate (of a bond)

tasa de los fondos comune8 de inversiones money market rate tasa de matricula enrollment ratio tasa de mortalidad normalizada segUn la edad age-standardized death rate tasa de paricion

tasa de mraccion offtake rate [livestock] tasa de fecundidad fertility rate

calving rate

tasa de preferencia pura en el tiempo rate of pure time preference

412 tua de preferencia social en eI tiempo social time preference rate

tua de supenivencia escolar 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 money market rate

diSCOWlt rate [central bank]

tua de rendimiento

tua diferencial de rentabilidad

yield rate

incremental rate of return

tua de rendimiento economico, de rentabilidad economica economic rate of return - ERR; economic internal rate of return - EIRR

tasa impositiva efectiva marginal marginal effective tax rate - METR

tasa impositiva efectiva media average effective tax rate - AETR

tasa de rendimiento financiero, de rentabilidad financiera financial rate of return; internal rate offinancial return; financial internal rate of return - FIRR tua de rentabilidad aceptable, de desistimiento cutoff rate (of return) [projects]

tasa limite de rentabiIidad aceptable cutoff rate (ofreturn) [projects]

tasa marginal de ahorro nacional marginal national savings rate tasa oficial de descuento

tua de rentabilidad de equilibrio equalizing rate of return

bank rate [UK]

tasa de rentabilidad economica a la terminacion completion economic rate of return

depositor rate of interest; borrowing rate [banks]

tasa de rentabilidad intern a internal rate of return - IRR

prime rate

tasa pasivo(a)

tasa preferencial

tua de rentabilidad requerida, exigida required rate of return - RRR

tasa preferential a largo plazo long-term prime rate - LTPR tasa tendencial

tasa de rentabilidad social social rate of return - SRR

trend rate

tasa de rentabilidad, de rendimiento rate of return

flat rate

tua de repeticion repeater rate [education]

standard rate (ofinterest)

tasa de reproduccion neta - TRN net reproduction rate - NRR

prevailing market rate

tasa uniforme, a tanto a1zado

tasa (de interes) vigente

tua vigente en el mercado

tasa de retencion retention rate; grade ratio [education]

tasacion para fines impositivos tax assessment; assessment for tax

413 tuaclon periclal expert appraisal taBas arancelariol tariff rates

tecnologia optima disponible best available technology - BAT~ best practicable means-BPM teledeteccion remote sensing

tasas de intera dave key interest rates

tasas de intera crecientel step-down, step-up interest rates

tecnica de aUlisil de decisiones tomando en euenta mUltipla atributos multiattnoute decision analysis tecnica de evaluacion y revision de programas PERT program evaluation and review technique - PERT tecnica de variabla multiples multivariate technique

teleobservacion remote sensing temario anotado, comentado annotated agenda Temas del Banco Mundial (mRD] issues paper temporada corta short season (crop) tendencia bias [economy; statistics]

tecnieas de administraciOn tributaria tax technology

tendencia a condiciones de prestamo mas gravosas hardening ofloan terms

tecnieas de reduction de la contaminacion abatement technologies

tendencia a muy largo plazo secular trend

tecnicas disponibla off-the-shelf technology

tendencia alcista, ascendente upward trend

teenieas financieras financial engineering

tendeneia deseendente downward trend

teenieo agricola agriculturist

tendencia bacia eategorias mas altas de dasificacion del personal grade creep

tecnico especializado subject matter specialist - SMS [agricultural extension]

tendencia intrinseea built-in tendency

tecnologia apropiada appropriate technology - AT

tenedor de bonos bondholder

tecnologia avanzada, de vanguardia frontier technology

tenedor de la garantia guarantee holder [MIGA]

tecnologia de estado sOlido, de semiconductores, de transistores solid state technology

teneneia comunitaria de bosques tree tenure

414 tenencias [en, de divisu, oro] holdings [foreign exchange, gold]

tenninOl de intercambio terms of trade

tenencias en oro gold holdings

tenninOl de referencia terms of reference [e.g. consultants]

tenencias ofidale8 official holdings

tennino. de referenda, paru.etros (de un estudio) terms of reference [study]

tension ambientaI environmental stress tension debida a la sequia drought stress teoria cuantitativa del dinero quantity theory of money teoria de la eleccion social theory of public choice teo ria de las colas queuing theory, problem teoria de los precios en operaciones de arbitraje arbitrage pricing theory - APT

terraplen bond terraplea en enrva de Divel contour bund terreno aIuviaI, de aluvion floodplain terreno comprendido, enbierto site coverage terreno no parcelado unsubdivided plot testigo drill core

teoria de recuperacion de los bosques

gap theory teoria del control del dinero impIicito implied money control theory terapia de rehidratadon oral oral rehydration therapy - ORT Tercera Ventanilla Third Window terminacion tennination terminacion de las instalaciones mechanical completion [projects]

tiempo compartido time sharing [computers] tiempo de inactividad downtime tiempo de rotacion, del viaje de ida y vuelta turnaround (time) tiempo necesario para un serviclo turnaround (time) tierra de pastoreo rangeland tierras hWoedas wetlands

terminadon del derecho a financiamiento del Banco) graduation [IBRD]

timbre fiscal revenue stamp

terminar tenninate

tipo activo(a) lending rate

415 tipo eentral key money rate; central rate tipo enazado cross rate tipo de alojamiento accommodation type tipo de eambio a termino, a plazo forward exchange rate tipo de eambio al eontado spot exchange rate tipo de eambio eentral central rate [exchange rates) tipo de eambio eomprador buying rate of exchange

tipo de eambio sombra shadow exchange rate - SER; shadow pricing of the exchange rate tipo de deKuento sombra, de euenta shadow discount rate tipo de intem eontable - TIC accounting rate of interest - ARl tipo de intem de euenta shadow rate of interest tipo de intem efeetivo(a) effective interest rate tipo de interes inmodifieable locked in interest rate tipo de intem negativo negative rate of interest

tipo de eambio de euenta shadow exchange rate - SER; shadow pricing of the exchange rate

tipo de intem real ex post ex post real interest rate

tipo de eambio de equilibrio equilibrium exchange rate

tipo de intem sobre los depositos depositor rate of interest; borrowing rate [banks]

tipo de eambio de referenda reference rate of exchange [MIGA)

tipo de interes sobre los pristamos lending rate

tipo de eambio efeetivo effective exchange rate

tipo de intem sombra shadow rate of interest

tipo de eambio efeetivo nominal nominal effective exchange rate

tipo de intem variable basado en una eesta de emprestit08 pendientes pool-based variable lending rate [IBRD]

tipo de eambio efeetivo real real effective exchange rate tipo de eambio flotante floating rate

tipo de redeKuento discount rate [central bank) tipo ofieial de deKuento bank rate [UK)

tipo de eambio intemo modified. Bruno ratio; internal exchange rate tipo de eambio mfnimo floor rate of exchange tipo de eambio real de equilibrio equilibrium real exchange rate

tipo pasivo(a) depositor rate of interest; borrowing rate [banks] tipo preferendal prime rate

416 tipo preferencial a largo plazo long-term prime rate - LTPR

tonelada de equivalente en earbOn - tee ton of coal equivalent - tce

tipo (de interes) vigente standard rate (ofinterest)

tonelada de equivalente en petrileo - tep ton of oil equivalent - toe

tipo vigente en el mereado prevailing market rate

tonelada en seeo, secada al aire air dried ton

tipos cruzados dispares broken cross rates

toneladas de peso muerto deadweight tonnage - DWT

tipos de cambio eoncordantes unified cross rates

tonelaje (de registro) bruto gross (register) tonnage - GRT (shipping]

tipos de interes clave key interest rates

tonelaje de registro neto net register tonnage - NRT

titulo security

tope cap

titulo de eredito financial claim

tope de eredito credit ceiling; credit limit

titulo de credito [finanzas] claim

tope de los tipos de intera interest rate cap [mRD]

titulo hibrido, estructurado structured security

torre de perforacion petrolera oil (drilling) rig, platform

titulo nominativo registered security

torta (de semillas) oleaginosa(s) oilcake

titulo otorgado por dos universidades split degree

torta de estiereol dung cake

titulos de organismos federales agency securities, obligations [U.S.]

total de particulas en suspension total suspended particulates - TSP

titulos del mereado monetario money market paper

total de sOlidos disueltos - tsd total dissolved solids - IDS

toma (de agoa) intake

total de sOlidos en suspension total suspended solids - TSS

toma deagoa standpipe; standpost; hydrant

total neto de los giros outstanding drawings [IMF]

toma de fuena power takeoff - PrO

trabajador a nivel de poblado village level worker - VLW

417 trabajador ambulante unlocated worker

trMico generado generated traffic

trabajador calificado skilled worker

tramitacion processing

trabajador de extension, de divulgacion outreach worker

tramitacion del (de un) prestamo loan processing

trabajador de salud de la comunidad community health worker - CHW

tramo impositivo tax bracket

trabajador desplazado dislocated worker

transaccion trade-off

trabajador no sindicado unorganized worker

transaccion cubierta contra riesgos cambiarios currency-hedged transaction

trabajador por cuenta propia, independiente, autonomo self-employed person

transaccion mera de mercado off-market transaction

trabajador semicalificado semiskilled worker trabajadores ocasionales casual labor trabajo a destajo jobbing trabajo en el terreno field work trabajos de urbanizacion site development traduccion de monedas currency translation trMico de detalle less than carload freight - LCL trMico de regreso backhaul traffic trMico directo through traffic trMico en transito through traffic

transacciones conforme a margenes de riesgo y rendimiento credit spread trades transacciones entre grandes bancos y entre estos y otras instituciones financieras wholesale banking transacciones interbancarias wholesale banking transacciones invisibles invisible transactions transrerencia con, de contrapartida requited transfer transferencia de activos (de una sociedad) a cambio de acciones (de otra sociedad nueva) spinoff [:financial market] transferencia de capital capital transfer transferencia desde el sistema principal downloading transferencia electronica de rondos electronic funds transfer - EFT

418 transferencia hacia eI sistema principal uploading [computers]

transporte maritimo shipping

transferencia inversa de tecnologia reverse transfer of technology

transporte multimodal multimodal transport

transferencia sin contrapartida (cuentas nacionales] unrequited transfer

transterritorial

transferencia unilateral [balanza de pagos] unrequited transfer

~endtorUU;cross~rder

cross~rder; ~endtorUU

transterritorial fronterizo; internacional

transferencias [empresas] remittances

traslacion del impuesto shifting of tax traspaso de intereses

transferencias de capital (no reembolsables) capital grants transformacion processing

divestiture;div~ent

tratamiento processing tratamiento ambulatorio

transformacionde empresas (publicas) en socledades comerciales, entidades previstas en la ley de sociedades corporatization transfronterizo

ou~tient~ent

tratamiento por separado two-stage. two-step procedure [IBRD]

cross~rder; ~endtorial

tratamiento superficial surface dressing [highways]

transitable serviceable [highways]

trazar peg out. to [surveying]

transnacional cross~rder; transtendtorial

tregoa tributaria tax holiday

transnacional transtendtorial; cross~rder

tren bloque block train

transparencia

trenes unidades unit trains

transparency transparencia fin fiscal transparency

triaje

transporte de produdos empacados nonbulk traffic

Tribunal de Arbitraje AIbitral Tribunal [IeSID; MIGA]

transporte entre terminales line-haul [transportation]

triage

419 tribunale.s eompeteD.te.s 0 c:aalquier otra autoridad (para ejecutar laudol) competent court or other authority (to enforce awards) [leSlD]

trimeltre del d.o ch1I calendar quarter tubereulo feeulento, rafz fecuIenta

unidad de poado animal unit - AU unidad de ganado tropical

tropical cattle unit - TCU; tropical animal unitTAU; tropical livestock unit - nu unidad de la eesta de monedU 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 minority threshold [IBRD1

managing unit 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 project management unit - PMU [IBRD]

cattle unit unidad minima de vivienda

unidad de capacitacion prictica

core housing; nuclear housing

training production unit unidad monetaria unidad de cuenta

currency unit

numeraire unidad de cuenta

unidad monetaria eompuesta basket unit; composite currency unit

unit of account - UA unidad monetaria europea - ECU unidad de cuenta basada en una cesta de monedu

basket unit of account

European Currency Unit - ECU 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 real estate developer

utilidades encubiertas

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

containerization

utilidades no distribuidas 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 application of funds

utilizacion

drawdown

usnario

utilizacion de recursos

consumer [telecommunications]

claim (on resources)

usnfructo

utilizacion del capital

beneficial interest

drawdown of equity

usufructuario

utilizacion escaIonada de energia energy cascading

beneficial owner utilidad bruta de operacion, de explotacion

gross operating profit

utilizar fondos draw, to (funds)

utilidad imprevista, extraordinaria

vaca de desecho

windfall profit

cu1ledcow

utilidad marginal marginal utility

vado pavimeatado

utilidad sobre la venta de inversiones

valor

profit on sales of investments

security

submerged bridge

421 valor ala par (monedu) par value

valor de opdon option value

valor a predo de comprador purchasers'values [national accounts]

valor de primera clue blue chip; blue chip security

valor a predo de productor producers'values [national accounts]

valor de primera clue prime bill

valor actual de una anualidad constante present worth of an annuity factor

valor de protecdon hedge [securitiesnuukd]

valor actual neto a predos economic08 net present value in efficiency prices - ENVP

valor de reaIizacion current exit value; exit value; net realizable value [UK] [accounting]

valor actual, actualizado present value, worth valor actualizado (principal) current value valor agregado, aftadido en el pais domestic value added valor atfpico outlier valor wculado constructed value valor comerdal, de mereado nuuket value valor contable neto net book value; current equity investment; nd investment valor contable, en Iibros book value valor critico switching value [sensitivity analysis] valor de contribucion contribution value [MIGA] valor de existencia existence value valor de liquidacion, de reaIizacion selling value

valor de recuperacion, de rescate salvage value valor de reposicion current (entry) value; replacement value; current cost [accounting] valor de venta forzosa liquidation value; forced sale value valor del producto marginal marginal value product valor en boca de mina minehead price valor en razOn de la escasez scarcity value valor esperado expected value valor estimado de la cartera evaluated portfolio [IFC] valor hibrido, estructurado structured security valor imputado imputed value valor inidal historical cost

422 valor intrinseco existence value valor justo, equitativo de mereado fair market value valor neto actual, actualizado net present worth, value ~ NPW, NPV valor neto actualizado net discounted value valor nominal face value valor nominal (valores) par value valor nominativo registered security valor oro gold value valor residual neto netback value [energy] valor residual, de desecho scrap value valor social neto actual, aetualizado social net present value - SNPV valor temporal del dinero time value of money valor unitario unit value valoracion a cotto total full cost pricing valoracion aduanera valuations for customs purposes valores paper [financial]

valores a ma largo plazo de oferta continua ~ COLTS Continuously Offered Longer~Term Securities COLTS valores aereditadOi seasoned. securities valores de primer orden gilt~ged securities valores de legundo orden secondaIy securities valores del mereado monetario money market paper valores en cartera portfolio securities valores en c:ireulaclon outstanding securities valores extrabursatiles, fuera de bolsa over-the-counter securities valores rmancieros financial paper valores negoc:iables eligible paper; marketable securities valores normales, corrientes, estandar standard values [trade] valores publicos, del Estado government securities valorizacion appreciation (in value) variable ficticia., artificial, simulada dummy variable variable independiente, predic:tiva explanatOIY variable; predictor; predicated, independent variable; fixed variate; regressor [statistics]

423 variable independiente, predictiva fixed variate; predictor; independent variable; predictor; predicated variable; predictor variaclones climaticu inducldas por la radiaclon solar radiative forcing vanaclones estacionales seasonal movements

venta de valores en cartera portfolio sale venta de venclmientos de pristamos sale of loan maturities venta simple, aI contado outright sale venta sin compromiso de garantia de emision "best efforts" sale

vanante alternative [projects] variedad pura pure variety; true to type variety [agriculture] variedad pura true to type variety; pure variety [agriculture] velocidad de diseilo, nominal design speed vencimiento (de un pristamo, obligaclon, etc.) maturity (ofa loan, bond. etc.) vencimiento de un dia para otro overnight maturity venclmientos a menos de un do current maturities venta (de una empresa) divestiture; divestment venta a cualquier precia, de urgencia distress sale, selling venta a plazas extended payment plan vent a con prima premium sale venta de bienes embargados, seeuestrados distress sale, selling venta de un credito fuera del consortio sell down

venta sin recurso de rescision, irrevocable no recourse sale ventaja comparativa comparative advantage ventaja comparativa manifiest&, explicita, evidente, etc. revealed comparative advantage - RCA ventaja relativa trade-off ventajas sociales, colectivu social advantages ventana window [computers] ventanilla para prestamos concesionarios soft loan window ventas merchandising verificaclon monitoring verificacion de cuentas audit [finance] verificacion de precios previo aI embarque pre-shipment price inspection verification de pneba test check [accounting] verificar cuentas audit, to

424 vertedero landfill

vigencia media de los prestamos average loan life - ALL

vertical top-down (approach) [projects]

vigilancia monitoring

vetiver vetiver

vinculacion de los salarios con los precios wage-price indexing

via de comercializacion channel [trade]

vinculacion regresiva backward linkage

via de servicio service road

vinculacion vertical backward-forward linkage

via navegable waterway

vincular peg, to (prices, interest rates)

viabilidad de la balanza de pagos external viability

vinculo a una combinacion de monedas composite peg [foreign exchange]

viaje de observacion, estudio, etc. field trip

vinculo ajustable adjustable peg [foreign exchange]

viaje en grupo group travel [World Bank]

vinculo compuesto composite peg [foreign exchange]

viajero freeuente 0 cotidiano (por razones de trabajo, de negocios) commuter

vinculo movil crawling peg [rate of exchange]

viajes oficiales relacionados con operaciones operational travel viatico subsistence allowance vicepresidencias centrales central vicepresidencies [ffiRD] vida util economic life vida util life (of a project); useful life vida util de un proyecto project life vigencia de un prestamo life of a loan

violacion de contrato breach of contract virus de la inmunodeficiencia humana - VIR human immunodeficiencY virus - HIV virus informatico computer virus vivienda ilegal illegal housing vivienda minima core housing; nuclear housing; dwelling core vivienda semipermanente semipermanent housing viviendas multifamiliares multidwelling houses

425 viviendas no sujeta(8) a reglamentaciones unregulated housing

zooa de absorcion de carbono carbon sink

volumen de desercion wastage; waste [education]

zona de absorcion, de disipacion sink (e.g. of greenhouse gases)

volumen de material elaborado [manufacturas]

zona de captacion [riego) catchment area; catch basin

throughput

volumen de negoc:i08 turnover volutad de pagar willingness to pay • WfP

zona de captacioD, de influencia [educacion, etc.) catchment area; catch basin zona de contratacion de mano de obra labor shed

votadon formal formal vote [ICSID] votacion 8in convoc:ar a reuniOn vote without meeting

zona de Iibre comercio free trade area zona de oc:upante8 ilegales, sin titulo squatter area, settlement

votos bisic08 mis vow de adhesion

uniform votes [IBRDJ voWs de adhesion membership votes

zona de referenda refereuce zone; target zone [foreign exchange] 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

yaclmieato geotermico geothermal deposit yacimiento rentable COIDIlleIdal deposit [mining]

zona en desarroDo development area zona e:s:propiada right of way zona franca free trade zone - FTZ; bonded area

yacimiento submarino, IIW' adentro offshore field zona atmosferica aiuhed zona bajo r i . eontrolado command area [irrigation]

zona franca industrial export processing zone - EPZ zona indnstrial industrial estate [UK]. park [USA]

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

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World Bank Documents & Reports - World Bank Group

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