Debt Relief for Low-Income Countries: Arbitration as the Alternative to Present, Unsuccessful Debt Strategies

Kunibert Raffer ()

No DP2001-113, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: After analysing present, unsuccessful strategies of granting too little too late, a fair, transparent arbitration process (FTAP) on debts modelled after the principles of US Chapter 9 insolvency for debtors with governmental powers (municipalities) is needed. It would respect debtors' sovereignty, provide a humane and economically efficient solution, respect the Rule of Law and the human right of debtor protection. Arbitration instead of creditor arbitrariness opens the way for meaningful debt reductions. The population would have a right to be heard by representation.

Keywords: Public debt; Financial institutions; International; International finance; International law; Poverty (search for similar items in EconPapers)
Date: 2001
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Persistent link: https://EconPapers.repec.org/RePEc:unu:wpaper:dp2001-113

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