LEGAL ANALYSIS OF THE INTERNATIONAL ECONOMIC AND FINANCIAL ORGANISATIONS IN DEVELOPMENT OF DEVELOPING COUNTRIES

Abstract

This study is about the framework of international economic organs towards development of developing countries and how international economic organs can be related to developing the less developed countries worldwide, a given example is Rwanda to which this Research is basically focused. In addition, it includes international and national trade, international finance, agriculture, tourism, and international and national investment which involves bigger, medium, and small in corporate or Companies, and it studies the relationship between international economic organizations in development of developing countries like Rwanda. The research was conducted on three main objectives or pillars whether the International Economic Organizations contribute to national development of Rwanda. Whether the influence of income generating activities sponsored by the International economic organizations can develop Republic of Rwanda. Whether the legal and institutional mechanisms necessary to cope with international economic organization‘s efforts to develop Rwanda. The study presented the results of an assessment of the role of the international economic organizations in development of less developed countries such as Rwanda in one hand, and analyzed different international economic organizations like the United Nations Development Program (UNDP), the international monetary fund (IMF), the World Bank (WB), the International Development Associations (IDA), International Financial Associations (IFC), Multinational Investment Guarantee Agreement (MIGA), International Center for Settlement (ICSID) and the United Nations Conference on Trade and Development (UNCTAD), World Trade Organizations (WTO) and some selected funding organizations in the review of their funds given to Rwanda during the period of 2000 to 2022 contributed in development, a good development indicator as a result of funds, on the other hand. Finally, the study revealed that, a developing country like Rwanda can be developed through different aids or funds given by the international Economic or Financial Organizations but also by the effort of her leaders committed to develop the country, which from the period was devastated by the 1994 genocide whereby one million of Tutsi were killed, and all resources stolen, and others destroyed by the actors of genocide. The President of the Republic of Rwanda contributed a lot in Rwandan good governance strategy and played a big role in empowering the Republic of Rwanda, the good governance resulted to be having sound economy and the country shifting from the ranking position of developing countries towards middle- income by 2030 and to the ranking of developed countries in 2050 is currently promising.