Legal Aspects of International Financial Institutions
INTRODUCTION
International financial institutions (IFIs) have a dual character. First, they are inter-governmental organizations that are created by states for a public purpose; and their authority and mandates are based on an international agreement to which all their Member States are party. As subjects of international law, their rights and obligations arise from the applicable public international law principles. Unfortunately, there is not a well-developed public international financial law that addresses both the public purpose of IFI financial operations and the commercial nature of their transactions
Developing countries vary in size, resource endowments and income levels, but they face similar challenges to access capital for financing development and put it to good use.
This course, covers legal, institutional, and operational features of IFIs, and explores the linkages between these institutions and their members.
Learning outcomes:
- describe the characteristics of external sources of financing development, including public and private sources.
- evaluate the merits and significance of each of external sources of financing development in assisting countries to meet their development goals and the trade-offs and complementarities between them.
- explain the legal framework underpinning transfers of international public and private capital to developing countries.
- identify the main actors involved with the transfers of international public and private capital to developing countries, the motivations for the provision of finance and the terms and conditions of finance.