تأثير القروض الخارجية على سيادة الدول (اتفاقية الاستعداد الائتماني الثالثة بين العراق وصندوق النقد الدولي انموذجا)

Rp-The impact of External Debts on the Sovereignty of States (The Third Credit Stand-by Agreement between Iraq and the International Monetary .pdf

This study deals with external debts. which play an important role by effecting positively and negatively on the sovereignty of states from all aspects. positively, external debts contribute to financing the budget of countries, as well as they contribute to supporting investment and service projects in them. Their effect may cause some countries, especially developing countries, to depend entirely on the external debts. Negatively, the effect of external debts on the sovereignty of States is represented by the economic, political or social conditions may be imposed by the external lending parties on the borrowing countries. This causes a political, social or economic diminishing of their sovereignty. Thus the aims of the study were as follows:
1. Clarifying the concept of international finance and external debts and the justifications for resorting to them, as well as clarifying the concept of state sovereignty and its internal and external manifestations.
2. Researching the legal nature of external debts, and knowing the legal description of external debts agreements, whether they are an international treaty or administrative contracts.
3. Researching the rules of the external debts treaty and stating its characteristics and the cases of its termination.
4. Knowing of the legal organization of the International Monetary Fund and the parties that dominate its decisions, as well as knowing of its tasks (duties), and its relationship with the United Nations and international economic organizations.
5. Determining the reasons why countries, including Iraq, have resorted to external debts.
6. Reviewing the provisions of the third credit standby agreement between Iraq and the International Monetary Fund.
7. Knowing the positive and negative effects of external debts on the sovereignty of states in general and Iraq in particular from the social, political and economic aspects.
The problem of the study emerged from the poor financial sustainability in the borrowing countries, including Iraq, and the failure of the governments of these countries to optimally mobilize local financial resources. Borrowing may be the result of an increase in public spending in a way that exceeds the financial capabilities of countries without their interest in maximizing their revenues from taxes and others to fill the deficit in their budget.
The study reached to a number of conclusions, including the following:
1. The problem of external debts is not limited to Iraq or the Arab countries, but rather is a global problem, and its negative effects extend to the developing countries and the global economy.
2. External loans are considered as a source that countries resort to when their other tax resources fail to cover their expenses.