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Sovereign Financing and International Law

The UNCTAD Principles on Responsible Sovereign Lending and Borrowing

Juan Pablo Bohoslavsky editor Carlos Espósito editor Yuefen Li editor

Format:Hardback

Publisher:Oxford University Press

Published:3rd Oct '13

Currently unavailable, and unfortunately no date known when it will be back

Sovereign Financing and International Law cover

The regulation of sovereign financing is a highly topical and significant issue, in the light of continuing global financial turmoil. This book assesses the role of international law in sovereign financing, addressing this issue from both legal and economic standpoints. It takes as a starting point the recent report 'Principles on Responsible Sovereign Lending and Borrowing' by the United Nations Conference on Trade and Development (UNCTAD). This report was endorsed by the United Nations General Assembly in its December 2011 Resolution on Debt, which emphasized the need for creditors and debtors to share responsibility for preventing unsustainable debt situations and encouraged all stakeholders to pursue the ongoing discussions within the framework of the UNCTAD Initiative. Investigating the legal and economic basis for the principles which were articulated in the report, the book develops a detailed and nuanced analysis of the controversial and complex issues they raise, including those concerning finance and credit rating agencies, contingent liabilities, debt management, corruption, fiduciary relations and duties, Collective Action Clauses, and the role of the EU and UN. Ultimately, it argues that the principles elaborated in the report correspond with general principles of international law, which provide a strong, pre-existing foundation upon which to build responsible principles for sovereign financing.

This book definitely should be a part of leading law/economics book libraries. ... This volume is a valuable tool for the academic and policy-making community in their further research towards the issue of sovereign financing and sovereign debt restructuring, where scholars, jurists and legal practitioners can all find what they need. In short, the editors have provided many insights into relevant complex aspects of sovereign financing, international law and their interconnectedness, leaving the readers enriched and inspired. Renzhen Li and Yi Zhou, Chinese Journal of International Law Certainly, the meticulous work performed by contributors and neatly put together by Juan-Pablo Bohoslavsky, Carlos Espositoand Yuefen Li will help to those willing to understand better the UNCTAD materials or to systemise the abundant literature of the topic. Dr Martin Menkes, Journal of International Banking Law and Regulation

ISBN: 9780199674374

Dimensions: 236mm x 163mm x 31mm

Weight: 784g

426 pages