Cuba and the Development of Odious Debt Doctrine in an Age of Financial Crisis
Article from: TDM 1 (2009), in International Law
Abstract
This paper examines the way that the traditional notion of odious debt as a method of repudiating sovereign debt may undergo a conceptual revolution, as it changes focus from the illegitimacy of governments obtaining loans, to the illegitimacy of the systems through which such loans are made and enforced generally. The paper starts with a consideration of the odious debt doctrine as traditionally applied. It then considers the ways in which the traditional expression of the doctrine has been expanded over the last century. This doctrine has served the developed world, and its ...