Rqppe| Bmglh Ighgkaiahv
_gc Rqzqcl I`v`tr
Kt`qp Iaidatr: Gtln Gmiaf
>;7<
Ldgf Qt Tamigh
1=;2
Rggf Gmiaf
1=7?
Rm`gld Gmiaf
1;=1
R`mgle Gmiaf
1<62
Rqdilvvaf v`: Rlt Ghgr Lnvlcmgt Lwtg Qhl~atrlv| 74/7
Rqppe| Bmglh Ighgkaiahv lh _gc Rqzqcl I`v`t _~v Evf% _gclrvgh
Vgdea `n B`hvahvr Lhvt`fqbvl`h
2
B`ipgh| _t`nlea
2
_t`barr `n Rqppe| Bmglh Ighgkaiahv
6
^ahf`t Hav{`tc
1
R`qtblhk Tg{ Igvatlger
1
L__ Fapgtviahv
1
E__ Fapgtviahv
<
K_ Fapgtviahv
77
R[@V Ghge|rlr {lvm tanatahba v` RBI
74
_qrm ^r _qee
72
_eghhlhk pt`barr vmt`qkm AT_
72
Ne`{ `n ighqngbvqtlhk pt`barr
76
Igvatlge mghfelhk fapgtviahv
7>
Rmqv f`{h gbvl~lvlar
7<
T`ea `n Wqgelv| Grrqtghba
4?
Fageat Hav{`tc
4?
K`~athiahv Takqegvl`hr
4?
Eg{ ghf `tfat rlvqgvl`h
47
Tab`iiahfgvl`hr
47
B`hbeqrl`h
44
_gc Rqzqcl I`v`tr
_g a 4
Rqppe| Bmglh Ighgkaiahv lh _gc Rqzqcl I`v`t _~v Evf% _gclrvgh
RQ__E\ BMGLH IGHGKAIAHV Lhvt`fqbvl`h Rqppe| bmglh ighgkaiahv -RBI, lr vma `~atrlkmv `n igvatlger% lhn`tigvl`h% ghf nlhghbar gr vma| i`~a lh g pt`barr nt`i rqppelat v` ighqngbvqtat v` {m`eargeat v` tavgleat v` b`hrqiat( Rqppe| bmglh ighgkaiahv lh~`e~ar b``tflhgvlhk ghf lhvaktgvlhk vmara ne`{r d`vm {lvmlh ghf gi`hk b`ipghlar( -T`qra% 4?7?,( Lv lr fanlhaf d| V`i IbKqnn`k gr% ―Ig}lilzlhk gffaf ~geqa ghf tafqblhk v`vge b`rv gbt`rr vma a hvlta vtgflhk pt`barr vmt`qkm n`bqrlhk `h rpaaf ghf batvglhv| `n tarp`hra v` vma igtcav’ Rqppe| Bmglh lr g ~grv bmglh b`hrlrvr `n Ighgklhk rqppe| ghf faighf% r`qtblhk tg{ igvat lger ghf pgtvr% ighqngbvqtlhk ghf grraide|% {gtam`qrlhk ghf lh~ahv`t| vtgbclhk% `tfat ahvt| ghf `tfat ighgkaiahv% flrvtldqvl`h gbt`rr gee bmghhaer% ghf fael~at| v` vma bqrv`iat( Rqzqcl I`v`tr gta b`hvlhq`qre| {`tclhk ghf lipt`~lhk vmalt Rqppe| bmglh pt`barr ke`dgee| d| vt|lhk rqtptlrlhk lhh`~gvl`hr( Lh _gclrvgh% _gc Rqzqcl i`v`tr gta {`tclhk `h annlblahv ghf annabv l~a Rqppe| bmglh ighgkaiahv i`fae(
B`ipgh| _t`nlea Bgtr . Eb~r _eghv: E`bgvl`h: F`{hrvtagi Lhfqrvtlge Arvgva `n _gclrvgh Rvaae C gtgbml V`vge Gtag: 41<%4?? i4 ->6 gbtar, Ngblelvlar: _tarr Rm`p% [aeflhk Rm`p% _glhv Rm`p% _ egrvlb Rm`p% Ahklha ghf Vtghrilrrl`h Grraide| Rm`p% Nlhge Grraide| . Ml)Vabm Lhrpabvl`h Rm`p( Vma B`ipgh| mgr ger` arvgdelrmaf g i`fath [grva [ gvat Vtagviahv _eghv gr lvr b`hvtldqvl`h v` vma a h~lt`hiahv( _t`fqbvl`h Bgpgblv|: 71?%??? qhlvr pat ghhqi -f`qdea rmlnv,
I`v`tb|bear _eghv: E`bgvl`h: Igqtlpqt Elhc T`gf Cgtgbml V`vge Gtag: 6 Gbtar _t`fqbvl`h Bgpgblv|: 2;%??? qhlvr pat ghhqi -f`qdea rmlnv, _gc Rqzqcl I`v`t B`ipgh| Elilvaf -_RIBE, lr pqdelb elilvaf b`ipgh| {lvm lvr rmgtar wq`vaf `h Rv`bc A}bmghkar lh _gclrvgh( Vma B`ipgh| {gr n`tiaf lh Gqkqrv 7<=2 lh gbb`tfghba {lvm vma vatir `n g
_gc Rqzqcl I`v`tr
_g a 2
Rqppe| Bmglh Ighgkaiahv lh _gc Rqzqcl I`v`t _~v Evf% _gclrvgh
j`lhv ~ahvqta gktaaiahv dav{aah _gclrvgh Gqv`i`dlea B`tp`tgvl`h Elilvaf -taptarahvlhk K`~athiahv `n _gclrvgh, ghf Rqzqcl I`v`t B`tp`tgvl`h -RIB, ) Jgpgh( Vma B`ipgh| rvgtvaf b`iiatblge pt`fqbvl`h lh Jghqgt| 7<=6 {lvm vma ptligt| ` djabvl~a `n pt`ktarrl~a ighqngbvqtlhk% grraidelhk ghf igtcavlhk `n Bgtr% _lbcqpr% ^ghr ghf 6 } 6 ~amlbear lh _gclrvgh( Vma B`ipgh|“r e`hk vati peghr lhvat)gelg lhbeqfar vgpplhk `n a}p`tv igtcavr(
Rgelahv nagvqtar `n _gc Rqzqcl I`v`tr
Vma 7rv lh _gclrvgh
_l`haat lh _gclrvgh Gqv`i`dlea Lhfqrvt|
Egtkarv Fageatrmlp Hav{`tc
Mlkmarv Igtcav Rmgta
Mgr Dab`ia g M`qram`ef hgia
_T@BARR @N RQ__E\ BMGLH IGHGKAIAHV 7( Faighf peghhlhk ghf n`tabgrvlhk 4( _t`bqtaiahv
_gc Rqzqcl I`v`tr
_g a 6
Rqppe| Bmglh Ighgkaiahv lh _gc Rqzqcl I`v`t _~v Evf% _gclrvgh
2( Ighqngbvqtlhk ghf grraide| 6( Flrvtldqvl`h 1( Tavqth
^ahf`tr -Rqppelat, Hav{`tc _gc Rqzqcl mgr peg|af gh lipavqr t`ea lh vma a hklhaatlhk rabv`t d| pt`i`vlhk ghf ahb`qtgklhk vma f`{hrvtagi ~ahf`t lhfqrvtlar lh vma ptl~gva rabv`t -$F`{hrvtagi$ tanatr v` i`~aiahv lh vma fltabvl`h `n vma bqrv`iat,( Bqttahve| vmata gta gd`qv 762 e`bge ~ahf`tr n`t flnnatahba pgtvr {matagr vmata gta i`ta vmgh 7? n`talkh rqppelatr n`t r`ia igj`t b`ip`hahvr(
R`qtblhk tg{ igvatlge _gc Rqzqcl gta r`qtblhk tg{ igva tlge nt`i flnnatahv b`qhvtlar elca% Jgpgh% C`tag % Vmgleghf dqv i`rv `n vma b`ip`hahvr gta r`qtbaf nt`i Jgpgh RIB l(a( Rqzqcl i`v`t b`ipgh|( Nqtvmati`ta _gc Rqzqcl lip`tvlhk b`ip`hahvr nt`i RIB Jgpgh gr BCF vmgv iaghr -b`ipeavae| ch`bc f`{h, l(a( nqee| flrgrraideaf n`ti( Vmata gta vmtaa fapgtviahv vma| lh~`e~lhk n`t pt`bqtlhk b`ip`hahvr nt`i ~ahf`t vmgv gta gr n` ee`{r( 7( L__ -lip`tvr pgtv pqtbmgrlhk, Fager lh _t`bqtaiahv `n B`ip`hahvr -BCF% CF% Rpgtar,% BHK B|elhfatr% Tg{ Igvatlger -Rvaae Rmaav % _egrvlb Tarlhr% BAF _glhv,% _IAr ghf vmalt Rpgtar nt`i n`ta lkh r`qtbar 4( E__ -e`bge pgtvr pqtbmgrlhk, Fager lh _t`bqtaiahv `n e`bgee| fa~ae`paf B`ip`hahvr nt`i e`bge ^ahf`tr 2( K_ -kahatge pqtbmgrlhk, Fager lh _t`bqtaiahv `n _eghv B`hrqigdear -_glhv% Lhfqrvtlge Kgrar% Eqdtlbghvr% avb(,% _IAr ghf vmalt Rpgtar% Gfilhlrvtgvl~a _t`bqtaiahv -B`ipqvatr% I`dlea _m`ha% Rvgvl`hat|% avb (, nt`i e`bge rqppelatr
@djabvl~a `n L__ fapgtviahv ―V` ahrqta b`hvlhq`qr rqppe| `n gee vma lip`tvaf lhpqvr v` vma a hf qrat v` caap tqhhlhk vma pt`fqbvl`h
{lvm`qv gh| lhvattqpvl`h% {mlbm ahrqtar vmgv: Vma tlkmv igvatlger gta g~glegdea gv vma tlkmv pegba% gv vma tlkmv vlia% gv vma tlkmv wqghvlv| ghf wqgelv|% ghf gv vma b`ipavlvl~a b`rv(
_gc Rqzqcl I`v`tr
_g a 1
Rqppe| Bmglh Ighgkaiahv lh _gc Rqzqcl I`v`t _~v Evf% _gclrvgh
RABVL@HR / NQHBVL@HR @N L__ FA_GTVIAHV 7( _eghhlhk 4( @patgvl`hr 2( A}p`tvr
_EGHHLHK RABVL@H TAKQEGT /_ATL@FLB GBVL^LVLAR N`ee`{lhk gta vma takqegt gbvl~lvlar `n peghhlhk rabvl`h lh L__ Fapgtviahv( 7( Lh~ahv`t| _eghhlhk 4( @tfatlhk 2( E/B% F_ B`hvtgbvlhk 6( _tlba Hak`vlgvl`h
VGTKAVR N`ee`{lhk gta vma vgtkavr grrlkhaf v` vma L__“r peghhlhk rabvl`h n`t vma pt`pat {`tclhk `n rqppe| bmglh
pt`barr( 7( Lh~ahv`t| B`hvt`e: V` Iglhvglh vma Lh~ahv`tlar gv vma farltaf `pvliqi ea~aer( 4( Lipt`~aiahv lh Rqppe| Bmglh: Vma lipt`~aiahv lh rqppe| bmglh igfa qp d|3
Eagf Vlia Tafqbvl`h
Lhbtagra vma H`( `n Rmlpiahvr
B`hr`elfgvl`h `n Rmlpiahv: Bgtk` rmlpplhk iavm`f lh {mlbm g ntalkmv n`t{gtfat gv vma p`tv `n `tlklh b`idlhar ra~atge lhfl~lfqge b`hrlkhiahvr v` igca qp g nqee b`hvglhat e`gf( Vmlr gttghkaiahv gee`{r vma k``fr v` da rmlppaf gr b` hvglhatlzaf)bgtk` vmgv `nnatr ktagvat rabqtlv| gv e`{at rmlpplhk tgvar( Gv vma p`tv `n farvlhgvl`h% vma b`hr`elfgvaf rmlpiahv lr rapgtgvaf -fab`hr`elfgvaf `t fa)kt`qpaf, dgbc lhv` vma `tlklhge lhfl~lfqge b`hrlkhiahvr n`t fael~at| v` vmalt tarpabvl~a b`hrlkhaar(
@_ATGVL@HR RABVL@H TAKQEGT /_ATL@FLB GBVL^LVLAR
Rmlpiahv I`hlv`tlhk . B`hvt`e
Bqrv`ir Beagtghba
Lh)D`qhf E`klrvlbr
Lhrqtghba
Igtlha Lhrqtghba
_gc Rqzqcl I`v`tr
_g a >
Rqppe| Bmglh Ighgkaiahv lh _gc Rqzqcl I`v`t _~v Evf% _gclrvgh
I`v`t Lhrqtghba
Nlta ghf Geelaf Lhrqtghba
Ilrbaeegha`qr Lhrqtghba
Bqrv`i Igvvatr
Eakge igvvatr -Bqrv`ir,
Lhvatgbvl`h {lvm Flnnatahv k`~athiahv gkahblar n`t3
Lip`tv / A}p`tv _`elblar
_t`p`rge n`t vtgfa p`elb| -B``tflhgvl`h {lvm _GIG ) _gclrvgh Gqv`i`vl~a Ighqngbvqtatr Grr`blgvl`h,
B``tflhgvl`h {lvm ilhlrvt| `n B`iiatba ghf AFD -Ahklhaatlhk fa~ae`piahv d`gtf,
B``tflhgvl`h {lvm NDT lh tarpabv `n bqrv`i eg{r ghf lip`tv/a}p`tv taegvaf h`vlnlbgvl`hr ghf tqear(
_g|iahv vmt`qkm VV Tailvvghba
Vgtkavr N`ee`{lhk gta vma kahatge vgtka vr `n `patgvl`h rabvl`h `n L__ fapgtviahv gv Rqzqcl I`v`tr( B`rv F`{h: Vmalt vgtkav lr v` dtlhk vma b`rv f`{h `n vma fapgtviahv lh vma n`ee`{lhk bmgtkar/fqvlar(
Bqrv`i fqv|: Bmailbge ghf b`hrqigdear% BCF Bgtk`ar
Lhrqtghba b`rv: _tailqi `h gee lhrqtghba p`elblar% _tailqi `h b`hvglhat vt ghrlv p`elb|
Ntalkmv b`rv
R|rvai lipt`~aiahv: Gh`vmat vgtkav `n `patgvl`h rabvl`h lr v` dtlhk lipt`~aiahv lh vma r|rvai d|3
Rmlpiahv I`hlv`tlhk . B`hvt`e _t`bafqtar: R{lvbm `~at nt`i Ighqge Fgvgdgra r|rvai v` GR 6?? r|rvai -LDI,
Bqrv`i Beagtghba
Tafqbvl`h `n bqrv`i beagtghba vlia nt`i 1 fg|r v` 2 fg|r
V` dqlef k``f taegvl`hrmlp {lvm bqrv`i `nnlblger n`t lipt`~aiahv lh bqrv`i taegvaf gbvl~lvlar(
A]_@TVR RABVL@HR TAKQEGT / _ATL@FLB GBVL^LVLAR 7( B`iiatblge A}p`tvr
Rpgta _gtvr A}p`tvr: RN67? Lh)m`qra grraideaf pgtvr v` IRB -Iaflvattghagh Rmlpplhk B`ipgh|,% Mqhkgt|( RD2?= . TG67? Lh)m`qra grraideaf pgtvr v` RIB% Jgpgh(
BDQ A}p`tvr: RV 2?=T . TM 672 E}l v` Qvvgtg I`v`tr% Dghkegfarm
4( A}p`tv `n Mgtf{gta n`t BHK Nlviahvr
_gc Rqzqcl I`v`tr
_g a ;
Rqppe| Bmglh Ighgkaiahv lh _gc Rqzqcl I`v`t _~v Evf% _gclrvgh
V` I|ghigt% Dqtig(
2( H`h)B`iiatblge A}p`tvr
Tavqthgdea Tgbcr -ntgiar, A}p`tv: V` RIB ‒ Jgpgh
6( Fqv| Ftg{ Dgbc: Gh lip`tv ghf a}p`tv lhbahvl~a pt`~lfaf d| bqrv`ir gkahblar lh {mlbm g p`tvl`h `n vma fqv| vg} lr tanqhfaf(
@h A}p`tv `n lip`tvaf pgtvr: BDQ Rpgta pgtvr -B`ipeavae| Dqlev Qhlv,
@vmat taegvaf lhn`tigvl`h `n L__ Fapgtviahv I`fa `n _g|iahv: _g|iahv d| L__ fapgtviahv lr f`ha d|:
Eavvat `n Btaflv
F_ b`hvtgbv ) pg|iahv gkglhrv tabalpv `n f`bqiahv
V/V tailvvghba
I`fa `n Rmlpiahv:
D| rag ghf D| glt
_`tv `n Flrbmgtka:
_`tv Wgrli -<
Cgtgbml _`tv
Igj`t rmlpplhk Elhar:
Igatrc Elha
H\C
Beagtlhk ghf N`t{gtflhk gkahv:
A}ptarr rat~lbar ghf G(Rmgc``t dt`vmatr
Lheghf Vtghrp`tvat:
Ge mgiigr ntalkmv Elhat
Lhrqtghba b`ipgh|:
ANQ kahatge Lhrqtghba
_gc Rqzqcl I`v`tr
_g a =
Rqppe| Bmglh Ighgkaiahv lh _gc Rqzqcl I`v`t _~v Evf% _gclrvgh
@djabvl~a `n E__ fapgtviahv N`ee`{lhk gta vma `djabvl~ar `n E__ fapgtviahv: 7( Gttghklhk b`ip`hahvr nt`i ~ahf`tr gv b`ipavlvl~a ptlbar% lh tlkmv wqghvlv| ghf gv tlkmv vlia 4( @tfat e`bge b`ip`hahvr gv b`ipavlvl~a ptlbar . e``c `qv n`t gee p`rrldea {g|r v` tafqba b`rv `n ~ahf`tlzaf pgtvr
Fapgtviahvge Nqhbvl`hr 7( B`rvlhk . B`rv b`hvt`e 4( Rbmafqelhk 2( _gtvr N`ee`{ qp
B@RVLHK RABVL@H TAKQEGT /_ATL@FLB GBVL^LVLAR Vma takqegt gbvl~lvlar `n b`rvlhk rabvl`h lh E__ fapgtviahv gta3 7( B`rv grrarriahv `n ha{ fa~ae`plhk pgtvr( 4( Ta)grrarriahv `n b`rv `n fa~ae`paf pgtvr n`t ptlba ta~lrl`h
B@RVLHK 7(
B`rv grrarriahv `n ha{ fa~ae`plhk pgtvr
Vma grrarriahv lh vmlr gbvl~lv| lhbeqfar Eghfaf B`rv% N@D% Igvatlge b`rv% Egd`t b`rv% V``elhk b`rv% @~at Magfr% Vtghrp`tvgvl`h b`rv% Nlhghblge B`rv% _t`nlv igtklh ghf _tlba hak`vlgvl`h
4( Ta)grrarriahv Ta)grrarriahv `n b`rv `n fa~ae`paf pgtvr n`t _tlba Ta~lrl`h -gbvl~lv|, Vma grrarriahv lh vmlr gbvl~lv| lhbeqfar Eghfaf B`rv% N@D% Igvatlge b`rv% Egd`t b`rv% V``elhk b`rv% @~at Magfr% Vtghrp`tvgvl`h b`rv% Nlhghblge B`rv ghf _t`nlv igtklh
RBMAFQELHK RABVL@H TAKQEGT /_ATL@FLB GBVL^LVLAR N`ee`{lhk gta vma gbvl~lvlar patl`flbgee| f`ha lh rbmafqelhk rabvl`h3 7( Lrrqghba `n E@L -Eavvat `n Lhvahv, 4( Lrrqghba `n rbmafqea gkglhrv rm`tv rqppelar(
_gc Rqzqcl I`v`tr
_g a <
Rqppe| Bmglh Ighgkaiahv lh _gc Rqzqcl I`v`t _~v Evf% _gclrvgh
2( Lrrqghba `n _tlba Ta~lrl`h Eavvat( 6( Lrrqghba `n Vtlge/Igrr pt`fqbvl`h rbmafqea( 1( Lrrqghba `n I`hvme| rbmafqea >( Lrrqghba `n gfflvl`hge rbmafqea
VGTKAVR ) Rbmafqelhk 7( Rv`bc Tafqbvl`h g( GDB LH^AHV@T\ VABMHLWQA GDB lh~ahv`t| ighgkaiahv vabmhlwqa lr qraf n`t gee Mlkm ~geqa lvair% Iaflqi ~geqa lvair ghf E`{ ~geqa lvair v` tafqba ghf ighgka vma ea~ae `n rv`bc( Vma GDB ghge|rlr pt`~lfar g iabmghlri n`t lfahvln|lhk lvair vmgv {lee mg~a g rlkhlnlbghv lipgbv `h `~atgee lh~ahv`t| b`rv% {mlea ger` pt`~lflhk g iabmghlri n`t lfahvln|lhk flnnatahv bgvak`tlar `n rv`bc vmgv {lee tawqlta flnnatahv ighgkaiahv ghf b`hvt`er( Lv bgvak`tlzar lvair lh v atir `n lip`tvghba( Vmqr% i`ta aipmgrlr lr pegbaf `h mlkmat tqpaa ~geqa lvair -―G’r, vmgh `h earrat tqpaa ~geqa lvair -―D’r,% {mlea vma eagrv lip`tvghv lvair -―B’r, tabal~a vma eagrv vlia ghf gvvahvl`h( d( Rgnav| Rv`bc b( Lhbtagra lh h`( `n Fael~atlar f( Fg| {lra rbmafqea a( Aelilhgvl`h `n ighqge {`tc n( V` qpfgva ~ahf`tr pt`nlea vliae| k( V` qpfgva lvai igrvat vliae| m( V` qpfgva rbmafqea igrvat dan`ta lrrqghba `n rb mafqea l( Fanlha pgbclhk wqghvlv| dan`ta lrrqghba `n rbmafqea(
4( Rahflhk I`hvme| Rbmafqear Aeabvt`hlbgee| 2( Ahrqtlhk gee rqppelar lh fanlhaf -tavqthgdea, pgbclhk i `fa 6( Fgvg b`hr`elfgvl`h . ighgkaiahv n`t _ta AT_ g bvl~lvlar 1( Rvghfgtflzgvl`h `n pgbclhk i`fa n`t iqevl r`qtba b`ip`hahvr
_g c Rq zqc l I`v `tr
_ g a 7?
Rqppe| Bmglh Ighgkaiahv lh _gc Rqzqcl I`v`t _~v Evf% _gclrvgh
_GTVR N@EE@[ Q_ TAKQEGT /_ATL@FLB GBVL^LVLAR
7( Tabalpv `n rbmafqea b`hnltigvl`h g( Gf~ghba n`ee`{ qp d| 2 . 1 fg|r n`t e`bge ghf qpb`qhvt| ~ahf`tr tarpabvl~ae|( d( Bmabc gbvqge gttl~ge gkglhrv rbmafqea b( N`ee`{ qp {lvm faeg|af ~ahf`tr f( Gttghkaiahv `n pgtvr qtkahve| tawqltaf d| _t`fqbvl`h Fapgtviahv a( B``tflhgva {lvm _t`fqbvl`h Fapgtviahv n( Iglhvglh BCF Rv`bc rvgvqr `n ~ahf`tr k( Iglhvglh rv`bc rvgvqr `n lip`tvaf pgtvr d| ~ahf`tr
VGTKAVR N`ee`{lhk gta vma vgtkavr `n E__ fapgtviahv“r pgtvr n`ee`{ qp rabvl`h
7( NV_ -Nltrv Vlia _grr, : Nltrv vlia pgrr |laef lr fanlhaf gr vma gi`qhv `n rgvlrngbv`t| pt`fqbvr `t rat~lbar g~glegdea gnvat vma b`ipeavl`h `n g kl~ah rav `n `patgvlhk pt`barrar a}ptarraf gr g patbahvgka `n vma v`vge gi`qhv pt`fqbaf/pqtbmgraf( 4( Zat` _t`fqbvl`h E`rr 2( Lh) vlia Rqppe| 6( Lipt`~aiahv `n _t`deaigvlb ^ahf`tr
NQHBVL@HR @N K_ FA_GTVIAHV Gi`hk vma vmtaa fapgtviahvr% vma egrv `ha lr K_ fapgtviahv( N`ee`{lhk gta vma iglh nqhbvl`hr `n K_( 7( _eghhlhk 4( @tfatlhk 2( N`ee`{ Qp 6( _tlba Hak`vlgvl`h 1( Igtcav R`qtblhk Gr lv lr kahatge pqtbmgra fapgtviahv fapgtvia hv vmatan`ta lv lr lh~`e~af lh n`ee`{lhk v|par `n pt`bqtaiahv:
_g c Rq zqc l I`v `tr
_ g a 77
Rqppe| Bmglh Ighgkaiahv lh _gc Rqzqcl I`v`t _~v Evf% _gclrvgh
7( _eghv _t`bqtaiahv Lh vmlr bgvak`t| n`ee`{lhk lvair gta dalhk pegbaf {mlbm gta pt`bqtaf g( _glhv . Geelaf Igvatlger d( B`hrqigdear b( _gbcgklhk Igvatlger f( _IAr Rpgtar
4( Gfilhlrvtgvl~a _t`bqtaiahv Vma gfilhlrvtgvl~a pt`bqtaiahv lh K_ fapgtviahv lhbeqfar vma lvair elca B`ipqvat _atlpmatger% I`dlea _m`har% Rvgvl`hat| lvair% Jghlv`tlge lvair% Bgplvge _t`bqtaiahv% B`ipqvat% _tlhvatr% Rbghhatr avb
VGTKAVR 7( ^ahf`t B`hr`elfgvl`h @ha `n vmalt vgtkavr lh~`e~ar b`hr`elfgvlhk ~ahf`tr nt`i {mlbm kahatge pt`bqtaiahv lr f`ha(
4( B`rv B`hvt`e B`rv b`hvt`eelhk bgh da p`rrldea d| gf`pvlhk iagrqtar elca aelilhgvl`h `n Dgf patn`tilhk ~ahf`tr% iatkat `n rlrvat b`hbathr b`hbat hr . qhl)kt`qp b`ipghlar qhfat `ha hgia v` annlblahve| ighgka ~ahf`tlzaf pt`bqtaiahv vmt`qkm ilhliqi lh wv| . davvat lh patn`tighba ~ahf`tr ghf btagvlhk bmglh `n Vlat)4 ~ahf`tr v` igca vma pt`bqtaiahv b|bea annlblahv
R[@V ghge|rlr {lvm tanatahba v` rqppe| bmglh Vma R[@V ghge|rlr `n _gc Rqzqcl {lvm tanatahba v` vmalt rqppe| bmglh ighgkaiahv lr gr n`ee`{r:
7( Rvtahkvmr Vma rvtahkvmr gta _t`fqbvl`h bgpgblv|% egtka ~ahf`t lhfqrvt| ghf igtcav k``f{lee
4( [agcharrar Vma {agcharrar `n Rqzqcl i`v`tr {lvm tanatahba v` RBI gta {gtam`qrlhk% n`tabgrv iavm`fr ghf wqgelv|(
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Rqppe| Bmglh Ighgkaiahv lh _gc Rqzqcl I`v`t _~v Evf% _gclrvgh
2( @pp`tvqhlvlar Vma `pp`tvqhlvlar lhbeqfa AT_ ghf T.F B`ipqvatlzgvl`h(
6( Vmtagvr Vma vmtagvr n`t _gc Rqzqcl i`v`tr gta vma B`ipavlv`tr% Lhh`~gvl`hr lh vma rqppe| bmglh `n i`v`t lhfqrvt|(
_qrm ~atrqr pqee _qrm r|rvai: igvatlge lr pqrmaf lhv` f`{hrvtagi {`tcrvgvl`hr takgtfearr `n {mavmat tar`qtbar gta g~glegdea( _qee r|rvai: igvatlge lr pqeeaf v` g {`tcrvgvl`h jqrv gr lv lr haafaf(
LH^AHV@T\ Vtgflvl`hgee| Rqzqcl i`v`tr gta caaplhk lh~ahv`t| gr lh bgra pt`deair gtlra l(a( `n rv`bc `qv( Vma| gta ger` {`tclhk `h Jqrv lh Vlia gppt`gbm -JLV,(
7( JLV `djabvl~a: V` aelilhgva lh~ahv`t| 4( JLV tawqltar: g( Rigee e`v rlzar d( Re`{ ravqp vlia b( B`hvglhatr n`t nl}af hqidatr `n pgtvr
2( JLV lh~ahv`t|: Ilhliqi lh~ahv`t| v` caap r|rvai tqhhlhk% E`{at lh~ahv`t| tafqbar { grva ghf tafqblhk lh~ahv`t| ta~ager pt`deair r` vma| bgh da r`e~af(
_eghhlhk pt`barr vmt`qkm Ahvatptlra tar`qtba peghhlhk -AT_, Ahvatptlra tar`qtba peghhlhk -AT_, r|rvair lhvaktgva lhvathge ghf a}vat hge ighgkaiahv lhn`tigvl`h gbt`rr gh ahvlta `tkghlzgvl`h% aidtgblhk nlhghba/gbb`qhvlhk% ighqngbvqtlhk% rgear ghf rat~lba% bqrv`iat taegvl`hrmlp ighgkaiahv% avb( AT_ r|rvair gqv`igva vmlr gbvl~lv| {lvm gh lhva ktgvaf r`nv{gta gppelbgvl`h( Vma pqtp`ra `n AT_ lr v` ngblelvgva vma ne`{ `n lhn`tigvl`h dav{aah gee dqrlharr nqhbvl`hr lhrlfa vma d`qhfgtlar `n vma `tkghlzgvl`h ghf ighgka vma b`hhabvl`hr v` `qvrlfa rvgcam`efatr -AT_,
E`bge pgtvr pqtbmgrlhk fapgtviahv -E__, : E__ rahv fael~at| `tfat v` ~ahf`tr {mlbm lr i`hvme| dgrlr ghf ger` ch`{h gr nlti `tfatr% fael~at| `tfat b`hvglhr `tfat wqghvlv|% fael~at| fgvar% pgbclhk rlza% ilhliqi e`v rlza% ghf rvgtvlhk fgva(
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Rqppe| Bmglh Ighgkaiahv lh _gc Rqzqcl I`v`t _~v Evf% _gclrvgh
@tfatlhk pt`barr vmt`qkm AT_ lh _RIBE : E__ lrrqa fael~at| `tfat ghf pgtv vgkr v` ~ahfat% fael~at| `tfat rm`{r gee favgler ghf pgtv vgkr v` ~ahfat vmt`qkm a)igle ghf ~ahfat lr elgdea v` pgrva pgtv v gkr ghf fael~at| lhrvtqbvl`h eavvat ge`hk {lvm rqppelat lh `tfat v` kahatgva KTLHR -k``fr tabal~gdea lhrpabvl`h h`var, FL“r -fael~at| lhrvtqbvl`hr, ghf pgtv vgkr a}pe`ta gee vma taea~ghv lhn`tigvl`h gd`qv e`bgvl`h ghf
wqghvlv|(
Gf~ghvgkar `n AT_ 7( Davvat rbmafqelhk ghf b`hvt`e 4( Annabvl~a fael~at| `tfat vmt`qkm FL Relp . _gtv Vgk 2( H` ilrvgca lh tawqltaf f`bqiahvr n`t igclhk K LTH( 6( Annabvl~a gppelbgvl`h `n NLN@ 1( Davvat b`hvt`e `h rqppe| `~at fael~at| `tfat wqghvlv|( >( Agr| mghfelhk `n tabal~af igvatlger lh rvghfgtf pgbclhk {lvm _gtv Vgk
_t`fqbvl`h peghhlhk% rm`p ne``t peghhlhk . bgpgblv| peghhlhk _t`fqbvl`h peghhlhk `n gee pt`fqbvl`h i`faer qhfat rpablnlaf vlia ntgia d| b`hrlfatlhk vma ngbv`tr rqbm gr peghv bgpgblv|% ighp`{at% g~glegdea {`tclhk vlia a(v(b(
\agte| gbvl~lv| pegh Fapgtviahvge magf `n pt`fqbvl`h b`hvt`e ptapgtar \AGTE\ GBLV^LV\ _EG H lh b`hrqevgvl`h {lvm gee vma rabvl`hge magfr `n vma fapgtviahv ghf v gcar gppt`~ge nt`i fl~lrl`hge magf( Lh vma |agte| pegh% vma dgrlb gbvl~lvlar `n pt`fqbvl`h b`hvt`e gta farbtldaf( Gfflvl`hge grrlkhiahvr nt`i ighgkaiahv% `vmat vmgh vma dgrlb j`dr rvgvaf lh vma |agte| pegh% gta patn`tiaf gr {mah tawqltaf(
NE@[ @N IGHGNGBVQTLHK _T@BARR Vma ighqngbvqtlhk pt`barr ghf vma b`hbathaf rm`pr lh _gc Rqzqcl i`v`tr gta gr n`ee`{r: Gr e`hk gr {aeflhk rm`p ahvatr vma pt`fqbv lhv` vma r|rvai% ~atrl`h ghf b`e`t lr gee`bgvaf v` agbm bmgrrlr hqidat lhv` vma r|rvai% {mlbm mgr v` da n`ee`{af d| vma gee b`hbath rm`pr( _TARR RM@_: ighqngbvqtar rmaav iavge pgtvr( [AEFLHK RM@_ tab`tfr B@[E)@C -bmgrrlr hqidat pqhbmlhk rvgvqr, ghf [D)@C -vtghrnat `n d`f| rmaeer nt`i {mlva d`f| elha, lhv` vma r|rvai( Gnvat vmgv vma d`flar gta vtghrnattaf v` pglhv rm`p( [D)@C lr vtagvaf gr pt`fqbvl`h `n ptarr ghf {a eflhk rm`p(
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Rqppe| Bmglh Ighgkaiahv lh _gc Rqzqcl I`v`t _~v Evf% _gclrvgh
_glhv rm`p tab`tfr _D)@H -e`gflhk `n {mlva d`f| rmaeer nt`i {aeflhk rm`p, ghf _D)@C -vtghrnat `n pglhvaf d`f| rmaeer v` ^NG, lhv` vma r|rvai( _D)@C lr vtagvaf gr pt`fqbvl`h `n pglhv rm`p( ^NG -^amlbea Nlhge Grraide| Gtag,% tab`tfr GD)@H -e`gflhk `n pglhvaf d`f| rmaeer l(a(% _DR `h b`h~a|`t,% GD)@N -`nn) e`gflhk ~amlbear nt`i b`h~a|at, ghf GD)@C -vtghrnat `n @C ~amlbear v` varvat elha, lhv` vma r|rvai( GD)@C lr vtagvaf gr pt`fqbvl`h `n ^NG% A.V% IMF ghf pegrvlb rm`pr( -GD iaghr Gqv` d`f|, Ahklha . Vtghrilrrl`h -A.V, rm`p ghf pegrvlb rm`p r|hbmt`hlzar vmalt pt`fqbvl`h {lvm ^NG pt`fqbvl`h qrlhk lhn`tigvl`h tabal~af nt`i GD)@H( A.V rm`p pt`fqba ahklha hqidat lhv` vma r|rvai( Lv tab`tfr% AK)@N -`nn e`gflhk `n ahklhar nt`i b`h~a|`t,% AK)@C -@NN)e`gflhk `n @C ahklhar gnvat nltlhk varv elha, ghf AK)VTN -vtghrnat `n ahklha v` ^NG, lhv` vma r|rvai( _EGRVLB RM@_ qrar vma lhn`tigvl`h `n GD)@H ghf vt ghrnatr vma tawqltaf rqd)grraidelar v` ^NG elhar n`t ri``vm pt`fqbvl`h( IMF -Igvatlge mghfelhk fapgtviahv, caapr be`ra elglr`h {lvm E__ -e`bge pgtvr pqtbmgrlhk,% L__ ghf pt`fqbvl`h b`hvt`e( Lv rqppelar pgtvr v` gee pt`fqbvl`h elhar lh gee fapgtviahvr n`t ri``vm ne`{ `n pt`fqbvl`h ^LF -^amlbea lhrpabvl`h fapgtviahv, tab`tfr N B)@H% -ahvtghba `n ~amlbea `h varvat elha, ghf NB)@C -tap`tvlhk gr b`ipeava @C ~amlbea, lhv` vma r|rvai
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Rqppe| Bmglh Ighgkaiahv lh _gc Rqzqcl I`v`t _~v Evf% _gclrvgh
_T@FQBVL@H I@HLV@TLHK . TA_@TVLHK _t`fqbvl`h i`hlv`tlhk ghf tap`tv lhbeqfar vma n`ee`{lhk pt`bafqtar: 7( E`gflhk rawqahba tap`tv 4( I`hvme| rvghfgtf b|bea vlia tap`tv 2( B`e`t {lra . ~atrl`h {lra b|bea vlia tap`tv 6( B`e`t {lra . ~atrl`h){lra pt`fqbvl`h n`ee`{ qp 1( I`hvme| tap`tvr >( I`hvme| gbvl~lv| tap`tv ;( BCF rv`bc p`rlvl`h =( _t`fqbvl`h fl~lrl`h ighp`{at rvgvqr
_T@FQBVL@H E@RR GHGE\RLR TA_@TV _eghhlhk rabvl`h vgca lhn`tigvl`h nt`i GHF@H r|rvai v` ptapgta ghf iglhvglh vma rqiigtlzaf pt`fqbvl`h e`rr ghge|rlr tap`tv% {mlbm farbtldar vma tagr`hr `n pt`fqbvl`h e`rrar fqtlhk vma {m`ea i`hvm(
I@HVME\ GVVAHFAHBA TARQEVR _eghhlhk rabvl`h b`eeabvr vma fgle| gvvahfghba tarqevr nt`i gee fapgtviahvr `n pt`fqbvl`h fl~lrl`h ghf b`ipleaf vmara tarqevr lh fgle| peghv gvvahfghba tap`tv(
I@HVME\ _T@FQBVL@H TARQEVR _eghhlhk rabvl`h ptapgtar vma i`hvme| pt`fqbvl`h tarqevr tap`tv n`t ta~la{ `n FIF( Vmlr tap`tv lhbeqfar pt`fqbvl`h tarqevr `n GD)@C .NB)@C(
Igvatlge Mghfelhk Fapgtviahv -IMF, NQHBVL@HR 7( Tabal~lhk 4( Rv`tgka 2( Rqppe| v` vma _t`fqbvl`h Elha
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Rqppe| Bmglh Ighgkaiahv lh _gc Rqzqcl I`v`t _~v Evf% _gclrvgh
TAR_@HRLDLELVLAR 7( Magf `n Fapgtviahv Magf `n fapgtviahv lr tarp`hrldea n`t i`hlv`tlhk / rqpat~lrlhk `~atgee `patgvl`hr `n Igvatlge Mghfelhk Fapgtviahv( 4( Rabvl`h Lh)bmgtka Rabvl`h Lh)bmgtkar `n fapgtviahv gt a tarp`hrldea n`t b`hfqbvlhk ri``vm pt`fqbvl`h `patgvl`h( Ma lr tarp`hrldea n`t bgtt|lhk `qv gee gbvl~lvlar lh tarpabv ` n rgnav|% wqgelv|% pt`fqbvl~lv| ghf tar`e~a gfilhlrvtgvl~a gnnglt( 2( Rmlnv Lh)bmgtka Rmlnv Lh)bmgtka lr tarp`hrldea n`t rmlnv pt`fqbvl`h ghf v` tar`e~a gdh`tigelvlar taegvaf v` pt`fqbvl`h(
Fapgtviahv B``tflhgv`tr 6( Lhvaktgvar Ighgkaiahv R|rvai -LIR, B``tflhgv`t LIR B``tflhgv`t `n fapgtviahv lr tarp`hrldea n`t b`hfqbvlhk gee b`hbatha f fapgtviahvge gbvl~lvlar gbb`tflhk v` LIR 1( Wqgelv| B``tflhgv`t Wqgelv| b``tflhgv`t grrqtar ghf b`)`tflhgva vma pt`fqbvl`h `n farltaf wqgelv| pt`barr( >( Rgnav| B``tflhgv`t Rgnav| B``tflhgv`t lr tarp`hrldea n`t b`hfqbvlhk gee fapgtviahvge gbvl~lvlar ghf `patgvl`h lh rgna ghf magevm| {`tclhk ah~lt`hiahv ;( Cglzah B``tflhgv`t Cglzah b``tflhgv`t `n fapgtviahv lr tarp`hrldea n`t gbmla~lhk cglzah -lipt`~aiahv, vgtkavr `n rm`p ghf i`vl~gva {`tcat n`t lv(
LRRQGHBA @N _GTVR V@ @VMAT FA_GTVIAHV 7( Vma IMF tabal~ar tawqlrlvl`h bgeeaf V^ -Vtghrnat ^`qbmat, nt`i vma faighflhk Fapgtviahv( Vmah gnvat bmabclhk `n rv`bc ea~ae lv gppt`~ar v` fael~at vma pgtvr( 4( Vma rgia V^ k`ar v` vma BCF tabal~lhk rabvl`h n`t gfjqrviahv `n rv`bcr( 2( Gee fael~ataf pgtvr b`ipleaf lh vma ahf `n vma i`hvm v` pegba vma `tfat n`t tapeahlrmiahv `n rv`bc(
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Rqppe| Bmglh Ighgkaiahv lh _gc Rqzqcl I`v`t _~v Evf% _gclrvgh
RQ__E\ @N _GTVR V@ _T@FQBVL@H ELHA 7( Igvatlge Mghfelhk fapgtviahv ahrqta NLN@ -nltrv lh nltrv `qv, `n vma pgtvr( 4( Vma rm`p {lra rvgnn mg~a fape`|af n`t vma rqppe| `n pgtvr( 2( Igvatlge Mghfelhk Fapgtviahv mgr vma rapgtgva rvgnn n`t vma rqppe| `n E`bge pgtvr ghf vma BCF pgtvr n`t agbm rm`p( 6( _gtvr {lra flrvtldqvl`h mgr f`ha gi`hkrv vma {`tcatr r` vmgv a~at|d`f| ch`{r {mlbm ~amlbea ghf elha pgtv ma mgr v` rqppe|( 1( Vmata gta rpablnlaf ghf kahatge vt`eea|r mg~a daah farlkhaf lh `tfat v` b gtt| i`ta pgtvr lh earr vlia( >( _gtvr nleeaf lh vt`eea|r . dlh gv qh)d`}lhk gta g ghf vmah pqrm lv v` vma farltaf pegba( ;( Dlhr r|rvai ger` lhvt`fqbar d| IMF n`t rigee pgtvr alvmat lv lr e`bge `t BCF( =( [grva kahatgvaf fqtlhk qh)d`}lhk pt`pate| flrp`raf `nn lh v t`eea|r d| {`tcatr `n IM fapgtviahv
BTLVLBGE _GTVR Vma E`bge pgtvr {mlbm gta h`v rqnnlblahve| ptarahv lh vma rv`bc% `t lh `vmat { `tfr vmalt rv`bc lr k`lhk v` da aipv| lh `ha `t v{` fg|r -fapahf `h vmalt haaf, gta rqdjabvaf gr Btlvlbge _gtvr( Agbm ghf a~at| fg| vma elrv `n Btlvlbge pgtvr igfa d| vma IMF ghf v mah rahfr v` vma b`hbath fapgtviahvr rqbm gr: _LF -_gtvr lhrpabvl`h fapgtviahv,% ^_R -^a hf`t pgtvr rqppe|,( Lv lr f`ha lh `tfat v` ahrqta vma pt`pat rqppe| nt`i vma ~a hf`tr( Vmlr elrv fapahfr qp`h vma ^ahf`t ger` alvmat lv lr vma ~lblhlv| `n Cgtgbml `t `qvrlfa Cgtgbml( Vmata gta r`ia pgtvr vmgv kav tabal~af a~at| fg| dabgqra vma ~ahf`t lr wqlva rvgdea vma| bgh kl~a qr fgle| rqppe| ghf rab`hfe| vmara pgtvr gta lh dlk rlza ghf gbwqlta g e`v `n rpgba vmgv“r v mgv“r {m| {a f` h`v pqv
vmai lh Btlvlbge Elrv( Vma Qp B`qhvt| ~ahf`tr vgca i`ta vlia v` rqppe| vmalt pgtvr% vmgv“r {m| vmalt rv`bc ea~ae vgcah i`ta
vmgh vma Cgtgbml ~ahf`tr(
RV@TGKA GTAGR Vma rv`tgka gtagr gta pt`pate| fanlhaf v` gee`{ `tfate| ghf rgnae| rv`tgka n`t ~gtl`qr bgvak` tlar `n pgtvr rqbm gr BCF% CF ghf E`bge pgtvr( Vma rv`tgka gtagr `n gee vma v ma tarpabvaf rm`pr mg~a daah fanlhaf( Vma BCF ghf E`bge pgtvr mg~a vmalt rapgtgva farlkhgvl`h gtagr(
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Rqppe| Bmglh Ighgkaiahv lh _gc Rqzqcl I`v`t _~v Evf% _gclrvgh
Vma pgtvr lhn`tigvl`h vgkr mg~a flrpeg|af gbb`tflhk v` vma pgtvr ra vvlhk `h vma rv`tgka gtagr( gt agr( Agbm pgtv mgr lvr rapgtgva e`bgvl`h gr {aee( Gee pgtvr lh vmara gtagr gta beagte| lfahvlnlaf ghf gttghka lh kt`qpr gbb`tflhk v` vmalt v|pa( Vma rv`tgka gtagr haaf pt`pat beaghlhk ghf iglhvahghba lh `tfat v` pta~ahv fgigkar ghf favatl`tgvl`h `n rv`taf lvair(
IGJ@T _T@DEAIR NGBAF D\ IMF 7( ELHA TAJABVL@H Lv bgqrar d| vma ilrmghfelhk `n {`tcat -qhrcleeaf,% `t vma ighqngbvqtlhk ngqev rm`qef da `ha bgra(
4( FANABVAF . RM@TV RQ__E\ R`ia vliar IMF kavr fanabvaf rqppe| `t vma wqghvlv| |`q gta kavvlhk lr h`v qp v` vma rpablnlbgvl`h( Lv ger` bgqrar vma rm`tvgka(
2( _GTVR LRRQGHBA V@ @VMAT FA_GTVIAHVR _gtvr lrrqaf v` vma `vmat fapgtviahvr fa pgtviahvr dabgqra `n r`ia qhg~`lfgdea rlvqgvl`hr(
IGVATLGE MGHFELHK F@BQIAHVGVL@H ^gtl`qr tab`tfr kahatgvaf lh vma IM Fapgtviahv fqtlhk vma h`tige gbvl~lvlar( Vma favgler gta f`bqiahvaf `h vma ”Igrvat F`bqiahv Elrv¶( Rqbm gr 3
7( IGVATLGE MGHFELHK RM@_R ^NG -^amlbea Nlhge Grraide| Gtag,% [aeflhk Rm`p% Ahklha Rm`p% _glhv Rm`p% _egrvlb I`eflhk Rm`p% Igtcavlhk Fapgtviahv -Fael~at| \gtf, 4( IGVATLGE MGHFELHK NGBLELVLAR N`tc Elnvatr% Atlbg% V`{ Vtqbc -Rvgbcat,% Rpablnlaf Vt`eea|r% Kahatge Vt`eea|r% Tgbcr% Ne`{ Tgbcr% Ktg~lv| Dgra T`eeat B`h~a|`t( 2( RGNV\ IGHQGER D`evr% Vlh D`}ar% Bgtv`hr% _`e|vmaha Rmaavr% _`e|vmaha Dgkr% Vmati` p`ea% _gpatr% [``fah D`}ar% [``fah _e|% Hgler% Tqddat D``vr% B`vv`h Ke`~ar% Bgt f D`gtf% Fgigkaf Dlhr% Fgigkaf Vt`eea|r% Fgigkaf Tgbcr
RMQV F@[H GBVL^LVLAR 7( Rv`bc Vgclhk -Gqflv, 4( Iglhvahghba 2( Rpablge Grrlkhiahvr . _t`jabvr
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Rqppe| Bmglh Ighgkaiahv lh _gc Rqzqcl I`v`t _~v Evf% _gclrvgh
T@EA @N WQGELV\ GRRQTGHBA _gtvr lhrpabvl`h fapgtviahv lr lh~`e~af lh grrqtlhk wqgelv| lh vma rqppe| bmglh(
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Rqppe| Bmglh Ighgkaiahv lh _gc Rqzqcl I`v`t _~v Evf% _gclrvgh
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Rqppe| Bmglh Ighgkaiahv lh _gc Rqzqcl I`v`t _~v Evf% _gclrvgh
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