What are the Principles of International Law Applicable to the Resolution of Sovereign Debt Crises?

• Authors: Alice de Jonge
• Languages of publication: EN

Abstracts

EN

This article explores the accepted and emerging international law principles applicable to the resolution of sovereign debt crises. The need for agreement on a set of guiding principles and mechanisms for resolving such crises is highlighted. The history of debt moratoriums, exchange controls and bailouts as instruments for dealing with sovereign debt crises is first outlined. The article then turns to an examination of alternatives to these policy options. Both market based and statutory approaches to sovereign debt restructuring are examined. The article ends with recommendations on a set of guiding principles for choosing between the various policy options available when a sovereign debt crisis is threatened.

Keywords

EN

sovereign debt crises; debt moratorium; exchange control; bankruptcy; state immunity; international law

• Publisher: Instytut Nauk Prawnych PAN / Institute of Legal Studies PAN
• Journal: Polish Yearbook of International Law
• Year: 2012
• Volume: 32
• Pages: 129-168

Contributors

author

Alice de Jonge

• Department of Business Law and Taxation, PO Box 197, Caulfield East, Vic 3145, Australia