International credit: the nature, functions, basic shapes

International credit is the movement of loan capital in the sphere of international economic relations, connected with the provision of commodities (provided by exporters to importers in the form of deferred payment for goods sold or services rendered), and foreign exchange reserves (provided by banks in the form of money: in the currency of the debtor country in the currency creditor country in the currency of a third country in an international monetary unit of the counting). It originated in the XIV-XV centuries. in world trade, he received a special development after development of the Middle East, America and India. The development of international credit is due to the release of a national framework for production, its specialization and cooperation. Scaling up international credit due to the international division of labor and progress and science. International credit plays an important role in implementing the requirements of the law of value and other economic laws. It operates on the principle of repayment, urgency and payment, security, the title character, from internal and external sources.

International credit has the following functions:

· reallocation of loan capital between the countries when it comes aid flow of capital to countries with low rates of return, contributing to its alignment and transformation in the average rate of profit;

· saving distribution costs in international economic relations by replacing gold as world money for such a medium of exchange, as a promissory note, check, bank transfer, certificates of deposit, electronic money, a solid national and international currencies;

· acceleration of the concentration of capital: speed up the process as a result of the capitalization of profits and more profits due to the attraction of foreign capital, with the creation of transnational corporations and banks by providing concessional loans to large international enterprises;

· regulation of the economy: foreign investment in the first place, the capital of the International Monetary and Credit and regional organizations that promote the growth of GDP and its distribution.

At the same time performs the dual role of credit in the economy. On the one hand, the positive as to accelerate the development of productive forces, the continuity of the reproduction process and its expansion to stimulate foreign economic activities, creates favorable conditions for foreign investment, provides continuity of international settlements and currency relations.

On the other hand, credit plays a negative role, resulting in the aggravation of the contradictions of a market economy by forcing overproduction, the redistribution loan capital gain imbalance of social reproduction and competition for markets, spheres of investment and sources of raw materials. The international loan is used to strengthen the position of foreign creditors in the competition. The boundaries of the loan depends on the sources and the needs of countries in foreign borrowing, repayment of the loan in time. Violation of this objective raises the question of the border settlement of external debt-by-emshits. The dual role of international credit in a market economy is evident in its use as a means of mutual cooperation and competition.

Forms of international credit can be classified according to the following criteria:

By appointment:

· commercial - are directly linked to foreign trafficking in the first pour and services;

· financial - direct investment: construction of facilities, purchase of securities, the repayment of external debt, the central bank currency intervention;

· intermediate - loans for maintenance of mixed forms of the export of capital, goods, services, performance of contract work;

The form of:

· cash (credited to the account and at the disposal of the debtor);

· acceptance (with the consent of the importer to pay a bill or a bank);

· certificates of deposit;

· bond issues;

The timing:

· Superfund (up to three months);

· short-term (up to one year). Separate species allocated loans of foreign trade, which includes lending to export and import in the form of commercial and bank credit;

· medium-term (from one to five years);

· long-term (over five years);

To ensure:

· software (trade documents, notes, securities, real estate, part of the official gold reserves, valued at the average market price);

· the obligation of the debtor (promissory note with a signature);

By categories of creditors: the private, banking, brokerage, governmental, mixed (with the participation of state and private companies), inter-state loans from international financial and credit institutions (on the basis of intergovernmental agreements).

Private loans are divided into three types:

credit on open account - the exporter (creditor) records at the expense of the importer (debtor) debt in the amount of the value of sold and shipped goods, the importer is obliged to repay the loan on time. It is used for regular deliveries, the debt is paid off periodically once a month. The loan is subject to zashite the risk in the form of private insurance or state guarantees. In the event of insolvency of the importer lender gets the guaranteed amount of payment from the guarantor institution (insurance company or government department by the state bank), which moves to the right to continue collecting the debt from the importer;

credit bill - a bill exposes the exporter to the importer in the transaction for the sale on credit, the importer undertakes to pay the bill within the specified period;

advance payment - advance payment of goods importer is not only a form of credit, but also guarantee the adoption of the importer of the ordered goods.

Дата добавления: 2015-11-14