1、外文文献原文外文翻译FOREIGNDEBTMANAGEMENTANALYSISMATERIALSOURCEWOMENSCONSULTATIONBRIEFINGPAPERAUTHORGAILLERNER,REBECCADESIREELOZADAANDVIOLATORRESTHEREISASTRONGCONSENSUSINTHEINTERNATIONALCOMMUNITYTHATTHEDEBTBURDENISASERIOUSBARRIERTOTHECREATIONOFANYMEANINGFULDEVELOPMENTSTRATEGYTHESECRETARYGENERALSREPORTOFEARLIE
2、RTHISYEARRIGHTLYIDENTIFIESDEBTASASIGNIFICANTOBSTACLETODEVELOPMENTINLOWINCOME,MIDDLEINCOMEANDTRANSITIONECONOMYCOUNTRIESITRECOGNIZESTHATDEBTFINANCINGOUGHTTOBEANINTEGRALPARTOFACOUNTRYSDEVELOPMENTEFFORTANDNOTAHINDRANCETHEFOREIGNDEBTISGROWINGEXPONENTIALLYDEBTRELIEFCONTINUESTOBEANEXERCISEOFPOWERANDCONTROL
3、THROUGHTHECONDITIONALITIESIMPOSEDBYTHEINTERNATIONALFINANCIALINSTITUTIONSIFISSTRUCTURALADJUSTMENTPROGRAMMESSAPSIMPOSEUNACCEPTABLECONDITIONSONDEBTORNATIONSANDDRAINTHEMOFPRECIOUSRESOURCESPRESENTDEBTMANAGEMENTPROPOSALSSUCHASTHOSEDEVISEDBYCREDITORSTHEHEAVILYINDEBTEDPOORCOUNTRIESHIPCINITIATIVE,TOINCLUDETH
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5、E,EQUITABLE,DEVELOPMENTORIENTEDANDDURABLEDEBTRELEASEOPPORTUNITIES,THEDEVASTATINGCYCLEOFDEBTACCUMULATIONWILLREPEATITSELF,CONDEMNINGMILLIONSMOREPEOPLETOSUFFERINGDEBTORGOVERNMENTSAREOBLIGEDTOPRIORITIZEDEBTREPAYMENTSOVERSPENDINGONHEALTH,EDUCATION,SANITATION,CLEANWATERANDOTHERSOCIALNEEDSTHISUNDERMINESACC
6、OUNTABILITYBYDEBTORGOVERNMENTSTOTHEPEOPLE,WHICHINTURNERODESLOCALDEMOCRATICINSTITUTIONSDEBTANDLOANNEGOTIATIONSAREALWAYSCONDUCTEDINSECRETBETWEENELITESINTHENORTHANDELITESINTHESOUTH,FOSTERINGCORRUPTIONFINALLY,IFTHEDEBTPROBLEMISTOBERESOLVEDINAWAYTHATCONTRIBUTESINANINTEGRALWAYTOSUSTAINABLECOMMUNITY,ATTENT
7、IONMUSTBEPAIDTOHOWCONCURRENTCHANNELSOFDEVELOPMENTFINANCINGCONTRIBUTETOWARDSTHECREATIONANDEXPANSIONOFEXTERNALDEBTFOREXAMPLE,ATTENTIONNEEDSTOBEGIVENTOHOWEXISTINGTRADEAND外文文献原文INVESTMENTAGREEMENTSMIGHTINHIBITRATHERTHANENHANCEREVENUEGENERATINGOPPORTUNITIESFORDEVELOPINGCOUNTRIESVIGILANCENEEDSTOBEMAINTAIN
8、EDSOTHATDEVELOPMENTEFFORTSARENOTFINANCEDTHROUGHMODALITIES,INSTRUMENTSORMECHANISMSTHATCREATEADDITIONALBURDENSOMEDEBTINTERNATIONALFORAOFCIVILSOCIETYCONVENEDBYTHEINTERNATIONALJUBILEECAMPAIGNSCALLFORTHECANCELLATIONOFALLILLEGITIMATEDEBTSOFALLSOUTHERNCOUNTRIESTHEPREVAILINGOPINIONISTHATTHEREARESEVERALCATEG
9、ORIESOFILLEGITIMATEDEBT,WHICHCANBEIDENTIFIEDASFOLLOWS1DEBTSTHATAREILLEGITIMATETOREPAY,THATIS,THEYCANNOTBESERVICEDWITHOUTCAUSINGHARMTOPEOPLEANDCOMMUNITIES2DEBTSINCURREDBYILLEGITIMATEDEBTORSANDCREDITORSACTINGILLEGITIMATELYWHICHINCLUDESBOTH“ODIOUSDEBT”THATISANYDEBTINCURREDNOTFORTHENEEDSORINTERESTSOFTHE
10、STATEBUTTOSTRENGTHENADESPOTICREGIMETHATREPRESSESITSOWNPOPULATION3DEBTSINCURREDFORILLEGITIMATEUSES,SUCHASDEBTSFORPROJECTSWHICHWERENEVERBUILTORDIDNOTBEFITTHEPEOPLEASTHEYWEREINTENDEDDEBTSCONTRACTEDFORFRAUDULENTPURPOSES4DEBTSINCURREDWITHILLEGITIMATETERMS,INCLUDEDDEBTSINCURREDATUSURIOUSINTERESTRATESDEBTS
11、THATBECAMEUNPAYABLEASARESULTOFEXTERNALFACTORSUNILATERALINCREASEININTERESTRATESOVERWHICHDEBTORSHAVENOCONTROLCAUGHTASTHEYAREATTHEDIVIDEBETWEENTHEPRODUCTIVEANDREPRODUCTIVESPHERESOFLIFE,WOMENHAVEBORNETHEFULLIMPACTOFDEBTDEPENDENCE,ADHERENCETOSAPSANDUNDERDEVELOPMENTINTHEIRMULTITUDEROLESOFWORKER,CAREGIVER,
12、HOMEMANAGER,WIFEANDMOTHER,WOMENSTIMEANDENERGIESARESTRETCHEDTOBREAKINGPOINTASTHEYSTRIVETOENABLETHEFAMILYTOSURVIVEECONOMICCRISESINSTEADOFPERPETUATINGTHISSETUP,THEFINANCINGFORDEVELOPMENTPROCESSMUSTWORKFORSYSTEMIC,STRUCTURALANDPOLICYCHANGESANDPROGRAMMESTHATWILLFREECOUNTRIESFROMTHEDEBTTRAP,PREVENTTHEREPE
13、TITIONOFTHESEPROBLEMSANDPROMOTEPOLITICALANDECONOMICDEMOCRACYANDEQUITY,GENDEREQUALITY,POPULAREMPOWERMENTANDSUSTAINABLECOMMUNITIESFROMTHISFRAMEWORKANDTOWARDSTHISEND,WERECOMMENDTHATTHEINTERNATIONALCOMMUNITYENSURETHEIMMEDIATECANCELLATIONOF100OFTHEDEBTSOFLOWINCOMECOUNTRIES,IMMEDIATEDEBTRELIEFFORSEVERELYI
14、NDEBTEDMIDDLEINCOMECOUNTRIES,ANDCANCELLATIONOFTHEILLEGITIMATEDEBTSOFALLSOUTHERNCOUNTRIES外文文献原文ACTIVEPARTICIPATIONOFCIVILSOCIETYINDECISIONMAKINGPROCESSESTHATDETERMINETHEALLOCATIONOFFUNDSFROMNEWLOANSANDDEBTRELIEFELIMINATIONOFANYCONDITIONALITIESATTACHEDTONEWLOANSANDDEBTRELIEFTHATPERPETUATEINDEBTEDNESS,
15、ASARTICULATEDINTHEPOVERTYREDUCTIONSTRATEGYPAPERSPRSPSANDTHEENHANCEDHIPCINITIATIVES,STARTINGWITHHEAVILYINDEBTEDPOORCOUNTRIESINAFRICAINTRODUCTIONOFANEW,INDEPENDENTANDTRANSPARENTARBITRATIONPROCESSFORNEGOTIATINGANDAGREEINGUPONINTERNATIONALDEBTCANCELLATIONWHICHENSURESTHATLOSSESANDGAINSAREEQUALLYSHAREDALO
16、NGWITHTHEINTRODUCTIONOFETHICALLENDINGANDBORROWINGPOLICIESTOPREVENTFUTURERECURRENCEOFTHEDEBTCRISISDEBTFINANCINGINVOLVESANYMONEYTHATABUSINESSBORROWSINORDERTORUNOPERATIONSALSOREFERREDTOASLOANS,ITCANBEALONGTERMORSHORTTERMSOLUTIONTONEEDEDCASHFLOWTHEREAREVARIOUSOPTIONSFOROBTAININGTHEMONEYABUSINESSMAYNEEDT
17、OOPERATEEFFECTIVELYFORANYVIABLEBUSINESS,LOANSAREAVAILABLETERMSMAYVARY,BUTEVERYLOANISSETTOBEREPAIDWITHINTERESTATAFUTUREDATETHISCASHFLOWOPTIONCANBEATTRACTIVETOBUSINESSOWNERSBECAUSETHEYDONOTHAVETOSACRIFICEANYOWNERSHIPINTERESTSINTHEIRBUSINESSFURTHERMORE,THEINTERESTONBORROWEDMONEYMAYBETAXDEDUCTIBLEFINALL
18、Y,THECOSTSARERELATIVELYFIXED,ANDTHEREFOREPREDICTABLEINPLANNINGFORFUTUREBUSINESSEXPENSESWHENLOOKINGFORASHORTORLONGTERMCASHFLOWSOLUTION,ABUSINESSMAYFINDTHATALOANISTHEMOSTVIABLEOPTIONBYDEFINITION,SHORTTERMDEBTFINANCINGPROVIDESMONEYNEEDEDFORDAYTODAYBUSINESSOPERATIONSWITHPLANSFORREPAYMENTINLESSTHANONEYEA
19、RDAYTODAYBUSINESSOPERATIONNEEDSMAYINCLUDEPURCHASINGINVENTORYORSUPPLIESORPAYINGEMPLOYEEWAGESSHORTTERMFINANCINGISALSOREFERREDTOASOPERATINGLOANS,ANDCANINCLUDELINESOFCREDITORCREDITCARDSONTHEOTHERHAND,LONGTERMLOANSPROVIDEGREATERAMOUNTSOFMONEYTHATAREPAIDBACKOVERALONGERPERIODOFTIMEABUSINESSMAYUSELONGTERMDE
20、BTFINANCINGTOPURCHASEEQUIPMENT,LAND,BUILDINGSORMACHINERYTHISMONEYTHENISUSEDTOPURCHASEBUSINESSASSETSINWHICHTHESCHEDULEDLOANREPAYMENTANDTHEUSEFULNESSOFTHEASSETEXTENDSLONGERTHANONEYEARABUSINESSCANOBTAINMONEYFROMDIFFERENTSOURCESDEPENDINGONITSNEEDSANDFINANCIALSITUATIONBANKSANDCREDITUNIONSARETRADITIONALSO
21、URCESFORBORROWINGMONEYANDOFFERAVARIETYOFOPTIONSESPECIALLYFORBUSINESSESIFABUSINESSDOESNOTYETHAVEESTABLISHEDCREDIT,ORITSCREDITISPOOR,ITSTILLMAYBEABLETOGETTHEMONEY外文文献原文NEEDEDTHROUGHACOMMERCIALFINANCECOMPANY,WHICHOFFERSLOANSWITHHIGHERINTERESTRATESTOHIGHRISKBORROWERSALSO,COMMERCIALFINANCIALINSTITUTIONSA
22、REAVAILABLEFORLOANINGMONEY,ASWELLASFORPROVIDINGFUNDSFORINVENTORYOREQUIPMENTPURCHASESDEBTFINANCINGCANBEAUSEFULTOOLFORABUSINESSINNEEDOFADDITIONALCASHFLOWHOWEVER,ITISMEANTTOBEAMEANSTOANEND,NAMELYOFGENERATINGMOREMONEYFORABUSINESSINORDERTOGROWITBUSINESSOWNERSSHOULDTRYTOAVOIDFALLINGINTOTHEREVOLVINGTRAPOFG
23、ETTINGTHEIRBUSINESSINTOANUNMANAGEABLESTATEOFDEBTREMEMBERTHAT“HETHATLOVETHSILVERSHALLNOTBESATISFIEDWITHSILVERNORHETHATLOVETHABUNDANCEWITHINCREASE“译文国外负债经营的分析资料来源联合国妇女咨询简报作者GAILLERNER,REBECCADESIREELOZADAANDVIOLATORRES在当今国际社会有一个强烈的共识债务负担对制定有意义的发展战略是一个严重的障碍。今年早些时候的秘书长报告指出债务在中低等收入及发展中国家是一个重要的经济因素。报告承认债务
24、融资应该是一个国家的发展不可分割的一部分。国外债务是呈指数增长的。免除债务是由国际金融机构财务通过一定附加条件来行使控制权力。结构的调整计划SAPS对债务国来说是宝贵资源的流失，是不可接受的条件的。现在管理者建议提高那些重债穷国。HIPC包括供给太小、太迟、太少的国家。因为债权人的目的是收集债务，而不是免除债务。借款人既贷方必须承担债务危机。债务的减免支配过程对债权人来说是不公平的。除非管理机构计划一个有效的、公平的、发展的和持久的债务的计划，制止债务的恶性循环,这样将会缓解数以百万计的人的烦恼。政府必须优先偿还在健康、教育、卫生、洁净水和其他社会需要领域的债务支出。这不但削弱了债务人对政府的
25、责任，反过来也就会削弱当地民主制度。债券和贷款总是在北方和南方的精英之间进行秘密地谈判，这也培育了腐败。外文文献原文最后,注重债务的支付，同时开发融资渠道，建立并扩张对外的债务渠道。这在某种程度上是解决债务问题一个完整的，可持续的方案。例如,要更加注意如何贸易和投资的协议，可能存在抑制而不是提高收益的情况。所以发展中国家要保持警惕，要注重发展成果，而通过某些的金融方式可能带来额外的债务负担。由国际欢乐运动组织的国际公民社会号召消除所有南部国家的非法债务。所谓的非法债务,可以鉴别如下（1）不合理的债务,也就是说,这些债务没有对任何人和社会造成损害。（2）债务由债务人和债权人的非法行动所成立的“恶
26、债”即任何不必要或损害国家利益，强化专制政权,压抑人民的债务。（3）债务为非法的使用,如根本不成立或不合民意的，而是被一些人欺骗来有预谋的挪作他用的债务项目。（4）债务因非法的条款而产生的债务利息。如因债务人无法支付而导致的无法控制住控制的高利贷债务利息。作为生产者和繁殖者存在，女性也承担了偿还的债务的重担。在工作中妇女们是经理，管理者；在家里，妇女又是丈夫的妻子，孩子的母亲。为了努力减少家庭生存的经济危机，妇女们的时间和精力都伸到了极点。发展筹资过程必须系统的工作,而不是一成不变的这个设置。利用结构和政策计划和变化,将国家从债务陷阱中解放出来,防止这些问题变得更加严重,促进政治和经济的民主和
27、公平、男女平等，建立一个可持续发展的社会。从这个框架出发，为了实现这个目标，我们建议国际社会保证以下几点（1）立即解除低收入国家100的债务，直接减免中等收入国家的沉重的债务,并取消对南欧国家的所有非法债务。（2）通过社会公民的积极参与和决策，建立新的贷款和减免债务的资金分配制度。（3）解除任何由新的贷款和减免债务所产生的债务的附加条款，制定可持续发展的扶贫战略文件PRSPS和提高HIPC倡议，从重债穷国的非洲开始实行。（4）对取消国际债务建立一个新的独立和透明的谈判和达成一致的过程，以确保损益和收益的平等，引入道德拆借的政策来防止未来的债务危机。债务融资业务涉及一个业务经营活动所需要的资金。
28、就像贷款一样,它可以是一个长期或短期的解决现金流量需要的方案。为了这个业务能有效地运作，可以有多种方式来获取资金。外文文献原文对于那些可行的项目，商业贷款是可得到的。贷款的方式可能不同,但都是要在将来的某个日期偿还贷款利息的。该现金流量可以吸引企业主,因为他们在生意中不必牺牲任何权益。另外另外借来的资金在最后计算最后所得税是还能予以扣除。要寻找一个短期或长期的现金流，贷款是最可行的办法。根据定义,短期债务融资为业务提供日常运作资金，并要在一年内偿还。日常的商业运作需要包括采购库存和运输，支付员工工资。短期融资既可以是经营贷款,也可以包括信用贷款或信用卡。另一方面，长期的贷款提供了更大数额的资金
29、，还款的时间也会延长很多。一个业务可以用长期债务融资来购买设备、土地、厂房和器械。这些资金常常被用来购买还款计划在一年以上的商业资产。一个企业可以根据它的需要和财务状况，从不同的机构获取资金。银行和信用社是企业传统的借款机构，为企业提供各种各样的贷款业务。如果一个企业还没有建立信用,或其信用较差,它还通过商业金融公司得到贷款，但是这类贷款利率较高，风险也较大。当然,商业金融机构的贷款是资金，也可以是设备的库存或采购。债务融资对一个需要额外资金流的业务来说是一种有效的方式。然而，它只是达到目的的一种手段，即产生更多的资金用于商业才能生长。企业主应该尽量避免为了做成生意而落入债务陷阱，导致无法收拾的局面。记住“贪爱银子的,不因得银子知足，也不因得利益知足”。
