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Sovereign Financing and International Law: The UNCTAD Principles on Responsible Sovereign Lending and Borrowing

This book provides in-depth analysis of the legal, economic and financial implications of the United Nations Conference on Trade and Development (UNCTAD) Principles on Responsible Sovereign Lending and Borrowing (the Principles), launched in 2012 in response to the causes and widespread effects of the global financial and economic crisis. Investigating the legal, economic and financial basis of the Principles, the book develops through an interdisciplinary, pluralistic and experienced group of contributors a detailed and nuanced analysis of the controversial and complex issues raised by the Principles, including those of the role international law in the context of sovereign financing, how the Principles relate to international law and other branches of law, their legal status, their economic rationale, contingent liabilities, debt management, corruption, fiduciary relations and duties, collective action clauses, China as a case study, the new EU debt restructurings instruments, and the adoption and implementation of the Principles.Ultimately, the book discusses to what extent the Principles correspond with general principles of international law offering a serious foundation upon which to build responsible behaviour for sovereign financing.