some difficult words from editorials , which is important and very helpful for IBPS PO/CLERK/LIC AAO/RRB & SSC CGL EXAM and other exams !!!
The Hindu: Guarding the peso: Argentina’s economic crisis
Argentina is not alone among major emerging economies in trying to weather the current run on currencies due to the rallying U.S. dollar and rising interest rates. But with a history of recurrent defaults and devaluation of the peso, Buenos Aires has greater cause for concern. President Mauricio Macri, whose market-friendly image ensured Argentina’s return to the global capital markets in 2016 after a decade, has a special stake in ensuring that his reforms remain on track. Following a record sovereign debt issue that year, Argentina became the second Latin American state after Mexico to launch a 100-year maturity bond in 2017. The new optimistic narrative was based on the former businessman’s commitment to reducing the fiscal deficit, building on the prevailing reasonable ratio of public borrowing to GDP. Nevertheless, Mr. Macri’s poll promise to make Argentina a “normal country” has been put to the test mid-way through his term. In early May, the currency tumbled to a record low against the greenback, forcing the central bank to raise key interest rates thrice within a week to 40% to shore it up. Mr. Macri even sought a multi-billion loan from the IMF, a deeply sensitive move given the once-hostile relations with the lender and a public apprehensive about the institution’s overall mission. The most recent crisis in Latin America’s third largest economy — the 2001-02 default to the tune of $95 billion, the largest in the world — had unleashed hyperinflation, social unrest and political instability. When the then socialist President, Néstor Kirchner, took an aggressive stance vis-à-vis investors, the country was effectively closed from global money markets for a prolonged period. Then, at the height of its economic collapse earlier this decade, Mr. Kirchner’s wife and successor, Cristina Fernández, lampooned the hedge funds, which held out against the country’s debt restructuring terms, as “vultures”. Now the situation has raised questions about the sustainability of Mr. Macri’s so-called gradualist reforms, which were dubbed neo-Keynesian rather than neoliberal.
With the treasury minister recently hinting at further fiscal tightening, there are signs of a shift in tone, if not the overall policy. Conversely, Mr. Macri has been prudent to promise continuity with his cautious approach to regulate subsidies and to legislate tax and pension reforms. The era of economic profligacy that was propped up by the commodities boom in the last decade is probably history now. At the same time, no price is too high to avert a repeat of the horrors of the social upheavals of more recent years. Occupying a centrist platform, Mr. Macri is, however, better placed than most other politicians in the country to negotiate a path ahead to balance conflicting interests.
1. Prevailing (Adjective) : प्रचलित
Meaning : existing at a particular time; current.
Synonyms : all-embracing, by the numbers, catholic, common, comprehensive, current, customary, ecumenical, established, familiar, fashionable, in style, in vogue, influential, main, operative, ordinary, popular, predominant, predominating, preponderating, prevalent, principal, rampant, regnant, regular, rife, ruling, set, steady, sweeping, universal, usual, widespread, worldwide.
Antonyms : individual, minor, peculiar, private, unimportant.
Usage : the unfavourable prevailing economic conditions.
2. Tumbled (Verb) : गिरावट
Meaning : fall suddenly, clumsily, or headlong.
Synonyms : fall (over), fall down, topple over, lose one’s footing, lose one’s balance, keel over, pitch over, take a spill, collapse, fall headlong, fall head over heels, fall end over end; trip, trip up, stumble; informalcome a cropper; datedmeasure one’s length; archaicgrabble.
Antonyms : arranged, methodical, neat, ordered, orderly, organized, systematic, systematized, trim.
Usage : she pitched forward, tumbling down the remaining stairs.
3. Greenback (Noun) : नोट
Meaning : a dollar bill; a dollar.
Synonyms : bank note,bill, bread,cash,currency, dough,money, paper money.
Antonyms : coin.
Usage : he’s worth a boatload of greenbacks.
4. Hostile (Adjective) : शत्रुतापूर्ण
Meaning : showing or feeling opposition or dislike; unfriendly.
Synonyms : antagonistic, aggressive, confrontational, belligerent, bellicose, pugnacious, militant, truculent, combative, warlike; unfriendly, unkind, bitter, unsympathetic, malevolent, malicious, vicious, spiteful, rancorous, venomous, biting, wrathful, angry; literarymalefic.
Antonyms : agreeable, friendly, gentle, kind, nice, welcoming.
Usage : he wrote a ferociously hostile attack.
5. Apprehensive (adjective) : भयभीत
Meaning : anxious or fearful that something bad or unpleasant will happen.
Synonyms : anxious, alarmed, worried, uneasy, nervous, concerned, agitated, restless, edgy, on edge, fidgety, tense, strained, stressed, neurotic, panicky, afraid, scared, frightened, fearful, terrified; informalon tenterhooks, trepidatious; informalstressy.
Antonyms : at ease, calm, quiet, unafraid, undoubting, unfearful, unsuspicious, unworried.
Usage : he felt apprehensive about going home.
6. Unleashed (Verb) : फैलाया
Meaning : release (a dog) from a leash.
Synonyms : let loose, release, free, set free, loose, unloose, unbridle, untie, untether, unchain, unbind, unshackle, unmanacle; discharge.
Antonyms : restrain.
Usage : they dig up badger setts and unleash terriers into them.
7. Prolonged (adjective) : लंबा
Meaning : continuing for a long time or longer than usual; lengthy.
Synonyms : lengthen.
Antonyms : shortened.
Usage : the region suffered a prolonged drought.
8. Lampooned (Verb) : निंदा की
Meaning : publicly criticize (someone or something) by using ridicule, irony, or sarcasm.
Synonyms : satirize, mock, ridicule, make fun of, poke fun at, caricature, burlesque, parody, take off, guy, make a fool of, rag, tease; informalsend up; rarepasquinade.
Antonyms : applaud, approve, praise, support.
Usage : the actor was lampooned by the press.
9. Hedge (Noun) : बाड़ा
Meaning : a fence or boundary formed by closely growing bushes or shrubs.
Synonyms : hedgerow, row of bushes, fence; windbreak, barrier, barricade, boundary; quickset.
Antonyms : confront, face, meet.
Usage : houses concealed behind high hedges.
10. Profligacy (Noun) : आवारगी
Meaning : reckless extravagance or wastefulness in the use of resources.
Synonyms : absurdity, amenity, dissipation, exaggeration, excess, exorbitance, expenditure, extravagancy, folly, frill, icing on the cake, immoderation, improvidence, lavishness, luxury, outrageousness, overdoing, overindulgence, overspending, preposterousness, prodigality, profuseness, profusion, recklessness, squander, squandering, superfluity, unreasonableness, unrestraint, unthrift, waste, wastefulness, wildness.
Antonyms : decency, goodness, honor, kindness, wholesomeness.
Usage : the government returned to fiscal profligacy.
