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| Business Words in the News
Friday 14 June 2002
Vocabulary from the business news. Listen to and read the report then find explanations of difficult words below.
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East African budgets
Summary: The three countries in the East African community - Kenya, Uganda and Tanzania - have presented their annual budgets, with Tanzania showing the strongest growth and Kenya struggling to overcome investor fears and lack of foreign aid. This report from Ishbel Matheson in Nairobi
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| | The News | |
| | | Kenya has the biggest and most diverse economy in the region but, as this year's budget showed, it is in deeptrouble. Kenya's finance minister predicted growth of just under two per cent - in neighbouring Tanzania, the government is expecting over three times that amount of growth. Kenya is just months away from a crucial general election, but foreign investors and donors have been frightened off by corruption and mismanagement.
They've turned their attention instead to Tanzania and Uganda. These countries are among the biggest recipients of foreign aid in the world, yet their economies are still tiny and would collapse if they fell out of favour with the major lending institutions. In Uganda, there's much discussion at the moment about how to reduce "donor dependency syndrome". Ironically, Kenyans have been helping Tanzania and Uganda to restore their economic fortunes. Some of Kenya's resourceful entrepreneurs have been finding it more profitable to set up business across the border than to struggle on at home.
Ishbel Matheson, BBC, Nairobi
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| | The Words
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| | | is in deep trouble
has a very serious problem
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| | | frightened off
if you frighten someone off, you make them unwilling to get involved in something
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| | | corruption
dishonest, illegal behaviour
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| | | mismanagement
here, organising finances badly
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| | | turned their attention … to
decided to deal with
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| | | recipients
people who receive something
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| | | donor dependency syndrome
a situation where a country continually needs help from other countries or organisations
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| | | economic fortunes
financial success
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| | | resourceful
good at finding ways of dealing with problems
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| | | struggle on
continue doing something but with great difficulty
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