The Doctrine Of Odious Debt In International Law
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The Doctrine Of Odious Debt In International Law
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Author : Jeff King
language : en
Publisher: Cambridge University Press
Release Date : 2016-05-26
The Doctrine Of Odious Debt In International Law written by Jeff King and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-05-26 with Law categories.
This book outlines how odious debts are not legally binding under international or domestic law, contrary to widely held legal opinion.
The Doctrine Of Odious Debt In International Law
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Author : Jeff King
language : en
Publisher: Cambridge University Press
Release Date : 2018-12-20
The Doctrine Of Odious Debt In International Law written by Jeff King and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-12-20 with Law categories.
According to the doctrine of odious debt, loans which are knowingly provided to subjugate or defraud the population of a debtor state are not legally binding against that state under international law. Breaking with widespread scepticism, this groundbreaking book reaffirms the original doctrine through a meticulous and definitive examination of state practice and legal history. It restates the doctrine by introducing a new classification of odious debts and defines 'odiousness' by reference to the current, much more determinate and litigated framework of existing public international law. Acknowledging that much of sovereign debt is now governed by the private law of New York and England, Jeff King explores how 'odious debts' in international law should also be regarded as contrary to public policy in private law. This book is essential reading for practising lawyers, scholars, and development and human rights workers.
Sovereign Finance And The Poverty Of Nations
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Author : Yvonne Wong
language : en
Publisher: Edward Elgar Publishing
Release Date : 2012-05-01
Sovereign Finance And The Poverty Of Nations written by Yvonne Wong and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-05-01 with Business & Economics categories.
''Yvonne Wong''s book is one of the best treatments of the Odious Debt problem in the literature. It is thorough, balanced and yet manages to be creative. I have already used an early version in my International Debt class and the discussions that were generated were excellent. For anyone seeking to tackle this age old problem, I highly recommend this book.'' Mitu Gulati, Duke University, US''With some excellent historical research and important analysis of "odious debt" accumulation and sovereign debt restructuring mechanisms in modern times, this book is placing the issue of "odious debt" at the heart of International law. Thus, it will prove an indispensable companion to any scholar or policy-maker who wishes to gain a multi-prismatic understanding of "odious debt" illegality and its implications for the welfare of entire nations.'' Emilios Avgouleas, University of Edinburgh, UK''Whenever a strict application of the law produces a result that is at variance with a general sense of what is morally right, trouble is surely in the offing. This is the central thesis of Yvonne Wong''s Sovereign Finance and the Poverty of Nations. When is it legally permissible, when is it ethically acceptable, for a sovereign borrower to disavow a debt incurred in the name of the sovereign state, but not for its (or its citizens'') benefit? And if debts incurred by unscrupulous politicians in one era can be disowned by their successors later on under gauzy notions of "illegitimacy" or "odiousness", what will prevent future unscrupulous politicians from casually dishonoring sovereign obligations that they would just prefer not to pay? These are deep waters, legally and morally. Wong has given us a fascinating insight into one of the most disquieting issues in international financial law.'' Lee C. Buchheit, Cleary Gottlieb Steen & Hamilton LLP, US''This book provides a very valuable contribution to the discussion about odious debts in that it, quite successfully, structures the often rather elusive argumentation. By developing a new and stringent approach to the emergence of a valid legal concept of odious debts, the author presents a fresh perspective to its underlying evaluations and allows, thus, a re-consideration of the need for effective rules in this context. This book will certainly influence fundamentally the future debate of odious debts.'' Christoph G. Paulus, Humboldt-Universitat zu Berlin, Germany''Saddam Hussein was overthrown and executed, but his successors to power are still liable for the debts that he contracted for the nation. Odious regimes can create debts without consent or benefit of their citizens who must subsequently repay them. This fact puzzles both international law specialists and intellectuals who read magazines like The Economist. Theresult seems wrong, but the right solution is elusive. Yvonne Wong''s important and timely book solves some of the puzzles by using methods and theories from international law, economics, and political science. It explains the law and politics inherent in sovereign debt arrangements, and proposes a new legal framework for odious debt.'' From the foreword by Robert CooterNational debts incurred by illegitimate regimes against the best interests of the citizens is a serious problem of international economics and politics. These sovereign debts, often referred to as odious debts, deplete the public purse and create an ongoing financial liability that serves to constrain investment and economic growth, and conspires to keep millions in poverty. This important and timely book explains the legal principles and politics involved in the issue of odious debts, and sovereign debt arrangements more generally. The author goes beyond abstract arguments and proposes legal rules and international regulation that should be put in place to create the right incentives to stop the transmission of odious debts. Her proposal is for a registration scheme for sovereign debt, and the imposition of positive duties on financiers who provide loans to sovereign borrowers.Sovereign Finance and the Poverty of Nations will appeal to students, academics, debtactivists, policymakers, international finance practitioners and anyone with a general interest in sovereign finance affairs.
Rethinking Sovereign Debt
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Author : Odette Lienau
language : en
Publisher: Harvard University Press
Release Date : 2014-02-18
Rethinking Sovereign Debt written by Odette Lienau and has been published by Harvard University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-02-18 with Business & Economics categories.
Conventional wisdom holds that all nations must repay debt. Regardless of the legitimacy of the regime that signs the contract, a country that fails to honor its obligations damages its reputation. Yet should today's South Africa be responsible for apartheid-era debt? Is it reasonable to tether postwar Iraq with Saddam Hussein's excesses? Rethinking Sovereign Debt is a probing analysis of how sovereign debt continuity--the rule that nations should repay loans even after a major regime change, or else expect consequences--became dominant. Odette Lienau contends that the practice is not essential for functioning capital markets, and demonstrates its reliance on absolutist ideas that have come under fire over the last century. Lienau traces debt continuity from World War I to the present, emphasizing the role of government officials, the World Bank, and private markets in shaping our existing framework. Challenging previous accounts, she argues that Soviet Russia's repudiation of Tsarist debt and Great Britain's 1923 arbitration with Costa Rica hint at the feasibility of selective debt cancellation. Rethinking Sovereign Debt calls on scholars and policymakers to recognize political choice and historical precedent in sovereign debt and reputation, in order to move beyond an impasse when a government is overthrown.
Sovereign Debt Restructuring The Role And Limits Of Public International Law
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Author : Annamaria Viterbo
language : en
Publisher:
Release Date : 2020
Sovereign Debt Restructuring The Role And Limits Of Public International Law written by Annamaria Viterbo and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with categories.
Odious Debt
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Author : Stephania Bonilla
language : en
Publisher: Springer Science & Business Media
Release Date : 2011-07-07
Odious Debt written by Stephania Bonilla and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-07-07 with Law categories.
Stephania Bonilla analyzes the dynamics of sovereign debt relations and looks at how the incentive structures of the parties involved can have implications on odious debt. She specifically looks at the role of international law in the reputation mechanism sustaining creditor-debtor relations.
Sovereign Debt Diplomacies
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Author : Pierre Penet
language : en
Publisher: Oxford University Press
Release Date : 2021
Sovereign Debt Diplomacies written by Pierre Penet and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021 with Business & Economics categories.
This is an open access title available under the terms of a CC BY-NC-ND 4.0 International licence. It is free to read at Oxford Scholarship Online and offered as a free PDF download from OUP and selected open access locations. Sovereign Debt Diplomacies aims to revisit the meaning of sovereign debt in relation to colonial history and postcolonial developments. It offers three main contributions. The first contribution is historical. The volume historicises a research field that has so far focused primarily on the post-1980 years. A focus on colonial debt from the 19th century building of colonial empires to the decolonisation era in the 1960s-70s fills an important gap in recent debt historiographies. Economic historians have engaged with colonialism only reluctantly or en passant, giving credence to the idea that colonialism is not a development that deserves to be treated on its own. This has led to suboptimal developments in recent scholarship. The second contribution adds a 'law and society' dimension to studies of debt. The analytical payoff of the exercise is to capture the current developments and functional limits of debt contracting and adjudication in relation to the long-term political and sociological dynamics of sovereignty. Finally, Sovereign Debt Diplomacies imports insights from, and contributes to the body of research currently developed in the Humanities under the label 'colonial and postcolonial studies'. The emphasis on 'history from below' and focus on 'subaltern agency' usefully complement the traditional elite-perspective on financial imperialism favoured by the British school of empire history.
Odious Debts
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Author : Patricia Adams
language : en
Publisher: London ; Toronto : Earthscan Canada
Release Date : 1991
Odious Debts written by Patricia Adams and has been published by London ; Toronto : Earthscan Canada this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with Business & Economics categories.
An account of how Third World debt accumulated to its current staggering levels. It examines the role of the different participants responsible among both the lenders and the borrowers and looks at the consequences for the debtor countries.
Non Legality In International Law
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Author : Fleur Johns
language : en
Publisher: Cambridge University Press
Release Date : 2013-01-03
Non Legality In International Law written by Fleur Johns and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-01-03 with Law categories.
Shows how international lawyers make non-law (extra-legal, illegal and other non-legal phenomena) and why this matters in global politics today.
Odious Debts Contemporary Issues
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Author : M. N. Bhavani
language : en
Publisher:
Release Date : 2009-01-01
Odious Debts Contemporary Issues written by M. N. Bhavani and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-01-01 with Debt relief categories.
Odious debt doctrine permits a State to repudiate the liabilityof a sovereign debt on grounds of legitimacy of borrowingby the previous regime. Such repudiations were made bycountries like Iran, Cuba, Costa Rica, Turkey and latestregime of Iraq. The contention made under the doctrine isthat the debt is odious for the population of that country as thedebt raised by the previous regime was not used for publicpurposes. The doctrine provides relief to innocent citizens ina tragedy where the immoral and corrupt rulers are allowed togo scot-free. There is no structured international legal regime to define odious debtsand provide relief to innocent citizens.