Sovereign Debt
5,543 Followers
Recent papers in Sovereign Debt
Since fiscal rules are not a panacea, and all of the economic, political, and financial forces that impact on sovereign creditworthiness cannot possibly be controlled, chances are that some governments will encounter debt-servicing... more
This chapter critically questions the ‘naturalisation’ of recourse to the market, namely, the process by which market devices and financial techniques were established and became unchallenged and uncontroversial technical issues. The... more
This is an analysis of the 2015 Zambian Budget including breakdown of allocations to sectors including health, Agriculture, infrastructure development and many more. The Wage Freeze is addresses as well as the mining tax regime changes.
This paper argues that the development of a regime for sovereign debt workouts has created an asymmetry between the rights and interests of sovereign lenders and those of the population of a debtor state. It first analyzes the impact of... more
With increasing liquidity of the Indian sovereign debt market since 1997, it has become possible to estimate the term structure in India. However, the market is characterised by several frictions that cause individual securities to be... more
This article offers a new interpretation of Marcel Mauss's The Gift. It situates Mauss's argument within his broader thinking on the politics of sovereign debt cancellation and the question of German reparations paid to the Allies after... more
ABSTRACT The sovereign debt crisis in the euro area is a symptom of policy failures and deficiencies in – among other things – fiscal policy coordination. The first nine years of the euro were not used effectively in order to improve... more
El canje de deuda de 2005 fue la primera etapa de un largo proceso de normalización de pasivos públicos en default que culminó en 2016. Además de sentar las bases de las etapas que le siguieron, la estrategia de manejo de la deuda... more
In this interview, which I translated with Tom Vandeputte, the Italian philosopher and sociologist Maurizio Lazzarato elaborates and extends some of the arguments developed in his book "The Making on Indebted Man". The interview was... more
В статье раскрывается проблематика недостаточности и неэффективности существующих механизмов и принципов реструктуризации суверенных долговых обязательств государств в контексте современной тенденции глобализации международного права.... more
Sovereign debt is financial (dis)advantage with several implications for economy and defense, in general. It affects directly military capabilities transformation and supports defense policy development taking into account defense costs... more
The year 2002 would be remembered in the European Union as the year the ‘Euro’ officially became the common legal tender of the ‘Eurozone’ comprising presently of 19 member states. Exactly seven years after, a full blown banking and... more
Introductory chapter of PhD thesis: 'Why Not Default? The Structural Power of Finance in Sovereign Debt Crises.' Defended (without corrections) at the European University Institute in Florence on May 19, 2016. This thesis aims to answer... more
Global financial markets are volatile right now and will remain so for the next 2-years. Equity markets are shaky. Investors risk appetite is suddenly moving to commodities. Bond market is precarious as Sovereign debt risk goes high.... more
The UK, US, EU response to the catastrophic economic impact of COVID on Africa, Asia & Latin America is A KICK IN THE TEETH—and this is to put it mildly! The poorest countries, who account <3% of private and public debt owed by so-called... more
The present work addresses the problem of the "Vultures Funds" in the Sovereign Debt Restructuration. The main objective is to analyze if the creation of an institutional debt restructuration mechanism, called International Sovereign Debt... more
To answer the problematic of the present study that focuses on the extent to which the Islamic sovereign Sukuk are included in Financing Government projects and treatment the Public Budget deficit. various concepts concerning the Public... more
Macroeconomic Projects, Master in Public policy & Development, Paris School of Economics
Essay written for: The Hague Centre for Studies and Research "The Legal Implications of Global Financial Crises" Directors of studies: prof. G. Bastid-Burdeau and prof. M. Waibel The Hague, 19 August – 6 September 2013 Last revised... more
Good faith is insufficient in bringing about a multilateral public order. An international community that applies the principle of good faith effectively does not exist. Arguably, rather than a robust juridical mechanism, good faith... more
The scope of protection, which can be provided by treaty arbitration to investors with regards to contractual disputes where a State or a State entity is the counterparty, continues to be a much-debated area of international investment... more
De l’engouement lié à la prolifération des collectifs locaux, dès la fin de l’année 2011, au ralentissement général de leurs activités à partir de 2014, les collectifs pour un Audit Citoyen (CAC) de la dette publique offrent un terreau... more
Access to the international bond market is a novelty for African countries, the number of African countries which access to this market continues to grow over time. By the 28thDecember 2013, there were about 12 countries in the region... more
"Is there more than a superficial family resemblance between the emergencies we suffer on a daily and on an epochal basis - due dates, expiry dates, statutes of limitation, biological clocks, revolutionary crisis points, environmental... more
In this study, we try to explore the effects of globalization and international integration on developing countries’ external debt in 1980-2010 time period. As known, the developing world consists of countries which desire to reach to the... more
This essay provides a historical geographical political economy of the deep connection between global capitalist finance, global flows of capital in the form of money, and modern imperialism. It argues that the money-power of capital to... more
Ist die Begrenzung von staatlichen Ausgaben und Haushaltsdefiziten wirklich im Sinne der Generationengerechtigkeit? Wer begreift, wie unser Geldsystem tatsächlich funktioniert, muss diese Frage eindeutig und vehement verneinen
Repeated crises have proven credit rating agency (CRA) models/methods erroneous and ‘business-as-usual’ unsustainable. Nevertheless, considerable dubious ‘default risk’ management and technoscientific capitalist expertise remain... more
Although precarious credit risk management and technoscientific expertise precipitate and exacerbate repeated crises, unfortunately, much remain widespread and virtually unaccountable. Especially evident in the ratings space, the article... more
Senior project submitted to the division of social studies, Bard College, 2010