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International loans as an instrument used for the development of the country's economy

The accumulation of capital plays an important role in theeconomic growth of any country. Internal sources are profit from different enterprises, state budget, population accumulation and so on. Supplement to them are private and public funds that attract from other countries, a large proportion of this is occupied by international loans, which are a movement of loan capital, taking place in the sphere of foreign economic relations. This is the provision of various resources (commodity and currency) under conditions of their return, urgency.

The role of international loans

The essence of the considered economic category is manifested through a number of functions:

When performing the above functionsinternational loans ensure the continuity of the expanded production process, and also contribute to the strengthening of the unevenness existing in the development of the economy. Some industries are encouraged, while others, on the contrary, are restrained, it all depends on profitability. The boundaries of such loans are determined by the sources of funds, the existing need for them, the degree of their return in a certain period. Violation of this entails a problem that is called an external debt and needs to be settled.

Basic moments

Let's consider in detail each function in order to evaluate international loans, their importance for the country's economy.

Classification of loans provided at the level of different countries For a better understanding, consider the types of international credit:

A corporate loan is a loan that the exporter givesa certain country to the importer of another state by deferring payment or as a commercial foreign trade credit. They are often sold through a bill or an open account.

A bank loan has some advantages when compared with a bank loan. There is a choice of suppliers, dates are better, in addition, good volumes are given at a good price.

Loans for compensatory transactions are long-termforeign trade loans (10-15 years). The importer receives funds for the purchase of equipment and machines, paying off the debt not by currency payments, but by supplying the products.

A mixed loan is a currency loan. It can be used in a broader context. Also its forms are: factoring, leasing, forfeiting. Forms of international credit are classified by different characteristics

It is important to correctly use international credit in the economy for mutually beneficial cooperation of states.