Thursday, December 13, 2018

Bantekas & Lumina: Sovereign Debt and Human Rights

Ilias Bantekas (Brunel Univ. - Law; Northwestern (HBKU Qatar) - Law) & Cephas Lumina (Univ. of Fort Hare - Law) have published Sovereign Debt and Human Rights (Oxford Univ. Press 2018). The table of contents is here. Here's the abstract:

Sovereign debt is necessary for the functioning of many modern states, yet its impact on human rights is underexplored in academic literature. This volume provides the reader with a step-by-step analysis of the debt phenomenon and how it affects human rights. Beginning by setting out the historical, political and economic context of sovereign debt, the book goes on to address the human rights dimension of the policies and activities of the three types of sovereign lenders: international financial institutions (IFIs), sovereigns and private lenders.

Bantekas and Lumina, along with a team of global experts, establish the link between debt and the manner in which the accumulation of sovereign debt violates human rights, examining some of the conditions imposed by structural adjustment programs on debtor states with a view to servicing their debt. They outline how such conditions have been shown to exacerbate the debt itself at the expense of economic sovereignty, concluding that such measures worsen the borrower's economic situation, and are injurious to the entrenched rights of peoples.