Financial Complicity and Human Rights: Exploring the Legal and Policy Landscape of Responsibility for Sovereign Debt

Tan, Celine and Quintero Godinez, Rafael (2023) Financial Complicity and Human Rights: Exploring the Legal and Policy Landscape of Responsibility for Sovereign Debt. In: Righting the Economy: Towards a People’s Recovery from Economic and Environmental Crisis. Agenda. ISBN 9781788216869

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Abstract

This paper investigates the relationship between sovereign financing and human rights, emphasising the potential for serious human rights violations stemming from sovereign debt liabilities and financial mismanagement. It highlights how external finance for states can actively contribute to or worsen human rights violations, possibly leading to unsustainable debt burdens and negatively affecting a country's ability to fulfil human rights obligations. The role of international financial institutions, development finance institutions, and export credit agencies in perpetuating such violations through project financing is also explored. The study primarily aims to: (a) explore the legal framework and standards for attributing responsibility to sovereign financiers; and (b) assess existing and potential frameworks to increase accountability for human rights compliance among sovereign financiers at both national and international levels. With a specific focus on official sector financiers due to their public nature and resulting duty under international human rights law, the paper argues for a human rights-based approach to contracting sovereign debt and resolving disputes to promote sustainable and equitable global development.

Item Type:	Book Section
Dates:	Date Event 1 January 2023 Accepted 1 July 2023 Published Online
Subjects:	CAH16 - law > CAH16-01 - law > CAH16-01-01 - law
Divisions:	Faculty of Business, Law and Social Sciences > College of Law, Social and Criminal Justice
Depositing User:	Rafael Quintero
Date Deposited:	13 Jul 2023 10:47
Last Modified:	13 Jul 2023 12:12
URI:	https://www.open-access.bcu.ac.uk/id/eprint/14586

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