Carlos Espósito

James Kraska

Harry N. Scheiber

Moon-Sang Kwon

In Ocean Law and Policy: Twenty Years of Development under the UNCLOS Regime, experts from fourteen countries present nineteen papers that provide insightful analyses of these wide-ranging issues that form the emerging new context of UNCLOS as a keystone to a working regime system.

Twenty Years of Development Under the UNCLOS Regime

Ocean Law and Policy

Juan Pablo Bohoslavsky

Yuefen Li

The regulation of sovereign financing is a highly topical and significant issue, in the light of continuing global financial turmoil. This book assesses the role of international law in sovereign financing, addressing this issue from both legal and economic standpoints. It takes as a starting point the recent report 'Principles on Responsible Sovereign Lending and Borrowing' by the United Nations Conference on Trade and Development (UNCTAD). This report was endorsed by the United Nations General Assembly in its December 2011 Resolution on Debt, which emphasized the need for creditors and debtors to share responsibility for preventing unsustainable debt situations and encouraged all stakeholders to pursue the ongoing discussions within the framework of the UNCTAD Initiative. Investigating the legal and economic basis for the principles which were articulated in the report, the book develops a detailed and nuanced analysis of the controversial and complex issues they raise, including those concerning finance and credit rating agencies, contingent liabilities, debt management, corruption, fiduciary relations and duties, Collective Action Clauses, and the role of the EU and UN. Ultimately, it argues that the principles elaborated in the report correspond with general principles of international law, which provide a strong, pre-existing foundation upon which to build responsible principles for sovereign financing.

The UNCTAD Principles on Responsible Sovereign Lending and Borrowing

Sovereign Financing and International Law

In response to continuing global financial turmoil, the UN Conference for Trade and Development has produced a set of principles to govern future sovereign financing. This book expands on these principles from a legal and economic perspective to analyse how sovereign financing can be regulated to prevent similar debt crises from occurring again.

Carlos Espósito

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