The public loans is a sensitive financial topics in the state Because they have different effects It is in the beginning obtained considered a financial resource of the state, but Get it entails an obligation return the loan in accordance with the conditions of the contract Which includes the amount of the loan and interest, So the development of the state in terms of economic and financial achieves chances to the existence of public loans. Arises in this subject among other things the reasons for borrowing, how to borrow, the concerned authority to borrow, the effects of borrowing.Causes of borrowing must be approved convincing and important as cases of inflation or recession or vice versa as cases need the state's revenues for the financial urgency to achieve goals.Here we discuss the positives and negative aspects of borrowing ,General loan connects the state several years, it may be difficult to repay it, So it is important that the search for the owner of the authority and jurisdiction in the state to borrow, find a means of reply, And puts persuasive justification to commitment the debts. One may say that this issue is too early to think about it - for Iraq - especially the existence of the oil resource, but we need to plan for the future and next steps. So, that this issue is not just the source of funding, but the play of multiple effects such as inflation and deflation has its role is obvious to researchers to handle economic volatility in the states. It is important to clarify the procedures and conditions and the surrounding operations underwriting loans in general, especially its interior is important to encourage investment and then gradually go to the private sector, especially the private sector content. We tried to discuss the issue through three sections the first regard to the identification of the public loan and the issuance of its components, and the second is about the position of the constitutions, both of them Arabs or Iraqi, and regards the third section of the Iraqi legal position and exposure to the experience of Jordan in this fild.