Professional Documents
Culture Documents
• A nation does not create laws. A nation has customs and traditions.
But a State does create law.
• A nation is more of a political and cultural combination. A State is a
political and judicial combination.
• There are States that are also nations and, in such circumstances, they are
called nation-states.
INTERSTATE SYSTEM is a system of unequally
powerful and competing states in which no
single state is capable of imposing control on all
others. These states interaction with one
another in a set of shifting alliance and wars and
changes in relative power of states upsets any
temporary sets of alliances, leading to
restructuring of balance of power.
Global Interstate System
UNITED NATIONS
General Assembly
Security Council
Economic and Social Council
International Court of Justice
UN Secretariat
1) GENERAL ASSEMBLY
-
is the only international court that adjudicates
general disputes between nations, and gives
advisory opinions on international legal issues.
It is one of the six organs of the United Nations
(UN),and is located in The Hague, Netherlands
.
5) The United Nations Secretariat
Accordingly, it has studied the problem from all angles by giving full play to its
expertise
in economic analysis. Also, the OECD has recently established the Center for
Cooperation in Changing European Economies and is about to play a leading
role in integrating East European countries into the world economy by
providing these rapidly changing countries with knowledge and know-how
on the market economy of OECD member countries.
International Monetary Fund (IMF)
The IMF has been serving as the central pillar of the international
financial system and
playing an important part in promoting policy coordination among
developed countries and
dealing with the accumulated debt problem. In the future, it is
expected to play an active role in assisting in reforms in Eastern
Europe and promoting the "New Debt Strategy ".
At its Interim Committee held in May 1990, a need to further
strengthen the IMF's
financial position and measures for delinquent countries was
emphasized. The committee then agreed on the 9th quota
increase as well as the third amendment of its articles. As a
result, by the end of1991, IMF's capital resources will have been
increased by 50% and the amendments of articles allowing the IMF
to suspend the voting right of delinquent countries will have taken
effect.
The IMF’s mandate
The IMF and World Bank have worked together to reduce the
external debt burdens of the most heavily indebted poor countries
under the Heavily Indebted Poor Countries (HIPC) Initiative and the
Multilateral Debt Relief Initiative (MDRI).
To date, debt reduction packages under the HIPC Initiative have been
approved for 36 countries out of 39 eligible countries providing $76 billion
in debt-service relief over time.