Student or Learner
I was reading in a magazine and got stumped by some of the expressions in the following passage. Can anyone help me understand?
"In Latin America the fundís short credit positions contributed but gains were offset by losses on long credit and currency investments. In Asia the fundís currency positions were mixed, but on net slightly negative, and the fundís short external credit positions also detracted from the regionís performance. Finally, small losses on external credit positions in the Middle East detracted from performance."
1.What does "short credit position" mean? Does "contribute" mean "bring in profits"? What does "long credit and currency investments" mean? Does it mean "to borrow money to invest"? If so, how does it relate to "long" in meaning?
2. What does "fundís currency positions" mean? Does it mean a currency's value in in terms of another currency? What should "positions" be explained? What does "mixed" mean here>
3. What does "short external credit positions" mean?