The Doctrine of Odious Debt in International Law

This book outlines how odious debts are not legally binding under international or domestic law, contrary to widely held legal opinion.

Breaking with widespread scepticism, King comprehensively restates the doctrine of odious debt and uses contemporary international and domestic law to redefine the doctrine in a way suitable for judicial application. This groundbreaking book is essential reading for practising lawyers, scholars, and development and human rights workers.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.