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Enrich your vocab for Bank exam: ‘Christine Lagarde admits IMF has woken up late

Jan 23, 2017 18:05 IST

    Competitive exams these days are focused on judging your knowledge of vocabulary, grammar and comprehension skills. It will help them to know how well you understand English and your knowledge of words. Building a good knowledge in vocabulary is definitely in the hands of candidates. You should keep on investing your time and energy to increase your vocabulary. You should read books, watch English channels or read English newspapers daily. With a view to preparing you better, we attempt to provide the best articles among the lot. It will definitely help you to comprehend and learn new words and further you can add it to your vocabulary. All the best!

    Article: Christine Lagarde admits IMF has woken up late to widening gap between rich & poor

    IMF head Christine Lagarde conceded on Wednesday the Washington lender had been late waking up to the widening gap between rich and poor around the world, but is now researching answers to help the middle class. 

    Lagarde made the admission to an audience of high-flying executives at the World Economic Forum in Davos, Switzerland, that has been dominated by the worrying inroads by populism across the west. 

    "There has been a strong backlash (against) economists in particular saying that this was not really their business to worry about these things, including in my own institution," said Lagarde, who is extremely popular with the Davos set. 

    The International Monetary Fund is "now being very harshly converted to the importance of inequality and studying it and providing policies in response to that", she said. 

    An Oxfam report coinciding with Davos this week said eight billionaire men -- including Microsoft founder Bill Gates and Facebook's Mark Zuckerberg -- own the same wealth as the poorest half of the world's population. 

    That level of inequality "threatens to pull our societies apart", Oxfam said. 

    Oxfam linked the chasm between rich and poor to the growing discontent with mainstream politics around the world, a view that has been widely discussed at this year's forum. 
    Top executives said they fretted over the potential ravages of anti-establishment politics manifested by Brexit and the rise of billionaire Donald Trump who assumes office as US president on Friday. 

    "Populism scares me," Ray Dalio, founder of Bridgewater Associates, a major US investment fund, told the audience in Davos. 

    These movements have become "the most important issue globally", even overshadowing the work of central banks, he said. 

    But Nobel award-winning economist Joseph Stiglitz, who is a harsh critic of the global order as promoted by Davos, said he held doubts over the elite's sudden concern. 

    The very same elite "set up the conditions for Trump," Stiglitz told AFP as he took a coffee at the Forum. 

    "To ask them to fix it is a little bit weird," he said, calling for a "rewrite of the rules" of the US economy. 

    Lagarde's IMF is often the most criticised for the crunch on the middle class as it often demands deeply unpopular reforms from governments in return for its financial aid. 

    This almost inevitablystokes voter discontent, including in Greece, a country that has endured six years of harsh reform medicine as prescribed by the IMF. 

    Lagarde has been trying to make the IMF more responsive to the public disquiet, acknowledging the link between inequality and globalisation that has spurred voter rebellions

    "When you have a real crisis or when you have very strong signals... from the voters from people who say no, it's really time to say ... what more can we do," she said. 

    "If policymakers do not get the signal now, I don't know when they will." 

    That view was reflected by ex-US treasury secretary Lawrence Summers, who said voters are seeking a clearer sense of purpose and security in an increasingly confusing world. 

    "It's a mistake not to recognise that the middle class in my country and in others is concerned that the government is not fighting for it," he said. 

    This sense of betrayal is also fuelling "a desire for national unity and strength," he said, a trend that moves against the internationalist values defended at Davos.

    1. Conceded (verb) (स्वीकार करना): is to admit or acknowledge that something is true or just.

    Synonym: Allow, capitulate, cede, confess

    Antonym: Defend, disallow, disapprove, repudiate

    Sentence: Pakistan should concede in its involvement with terrorism and other anti-national activities against India.

    2. Backlash (noun) (पलटाव): is a strong negative reaction given by a large number of people.

    Synonym: Repercussion, resentment, resistance, retaliation

    Antonym: Cause, question, resignation

    Sentence: Citizens of Bhopal are still facing the backlash of the gas leak tragedy happened in the year 1984.

    3. Chasm (noun) (खाई): is a very deep opening in a rock or a ground.

    Synonym: Cleavage, crater, crevasse, fissure

    Antonym: Closure, remembrance, junction, solid

    Sentence: After winning the award, he simply ignored the chasm between us and hugged me tightly.

    4. Mainstream (adjective) (मुख्य): refers to the ideas or activities that are shared or accepted by most.

    Synonym: Prevailing, dominant, primary, standard

    Antonym: Abnormal, eccentric, heterodox, exceptional

    Sentence: The mainstream desire of everyone is to live fantastically.

    5. Fretted (verb) (तराशा हुआ): is to feel or express worry, annoyance or discontent.

    Synonym: Agonize, bother, brood, carp

    Antonym: Ignore, please, delight, appease

    Sentence: After the phone call, she fretted and broke the gift which was prepared for their anniversary.

    6. Ravages (verb) (विध्वंस करना): is to cause severe or extensive damage to something.

    Synonym: Demolish, disrupt, gut, impair

    Antonym: Construct, build, fix, repair

    Sentence: In the war, bombs and tanks ravaged the entire village.

    7. Elite (noun/adjective) (विशिष्ट वर्ग): is a selected group of people what are superior in terms of ability.

    Synonym: Exclusive, noble, pick, elect

    Antonym: Bad, inferior, poor, low-class

    Sentence: During ancient times, only the elite class was given the privilege to read and write.

    8. Inevitably (adverb) (निस्सन्देह): refers to something which is unable to be avoided or escaped.

    Synonym: Unavoidably, necessarily, surely, inescapably

    Antonym: Dimly, obscurely, adversely, cynically

    Sentence: The triple murder case has been inevitably the subject of unceasing controversy.

    9. Spurred (adjective) (प्रोत्साहित करना): is to incite or provoke someone.

    Synonym: Arouse, propel, spark, stimulate

    Antonym: Calm, check, discourage, dissuade

    Sentence: Demonization had promptly spurred the domestic front to cut on unnecessary expenses.

    10. Rebellions (noun) (विद्रोह): refers to the violent action organized by the group of people for resisting authority or control over them.

    Synonym: Dissent, disobedience, insurgency, insurrection

    Antonym: Obedience, orthodoxy, submission, harmony

    Sentence: At the crime scene, it was clearly a sign of rebellion which is being hidden by the family drama.

    Question (1-5): Answer the following as directed

    1. Find out the words which mean the same as ‘fuelling’(भड़काना)
    1. Inflame
    2. Indigenous
    3. Inclination
    4. Indication
    5. Other than those given in options

    Solution: Option (1)

    Explanation: The given word refers to cause a fire to burn something. Therefore, from the above-given options, option (1) is a right choice as the synonym of the word.

    2. Find out the words which mean the same as ‘betrayal’ (धोखा)
    1. Frankness
    2. Faithfulness
    3. Treachery
    4. Truthfulness
    5. Other than those given in options

    Solution: Option (3)

    Explanation: The given word means an act of disloyalty. From all the given options given above, option (2) is the correct choice as the synonym of the word.

    3. Find out the words which mean the same as ‘disquiet’ (बेचैन)
    1. Unconcern
    2. Distress
    3. Ease
    4. Calmness
    5. Other than those given in options

    Solution: Option (2)

    Explanation: The given word refers to the feeling of worry, unease or agitation. So, from all the given options, option (3) is an apt choice as the synonym of the word given in the options.

    4. Find out the words which mean the same as ‘stokes’ (भड़काना)
    1. Famish
    2. Poised
    3. Extinguish
    4. Feed
    5. Other than those given in options

    Solution: Option (4)

    Explanation: The given word refers to add fuel or fire and move the stick so that it burns well. Hence, from the above given options, option (4) is the right choice as the synonym of the word given in the options.

    5. Find out the words which mean the same as ‘threatens’ (डराना-धमकाना)
    1. Flatter
    2. Torment
    3. Alleviate
    4. Compliment
    5. Other than those given in options

    Solution: Option (2)

    Explanation: The given word means to cause harm damage to something or someone. Hence, from all the above options, option (2) is the right choice as the synonym of the word given in the options.

    Word of the Day

    Demagogue

    Meaning (English) – is a person or a leader, especially an orator or a political leader who wins power and popularity by appealing to popular passions.

    Meaning (Hindi) – जनसमुदाय का नेता

    Synonyms – Fanatic, fomenter

    Antonyms – Appeaser, mediator

    Example – Donald Trump turns to be ambitious demagogue by winning the elections.

    उदाहरण – डोनाल्ड ट्रम्प चुनाव जीतने से महत्वाकांक्षी प्रजानायक बन गए हैं.

    DISCLAIMER: JPL and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.

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