Debt Servicing and its Adverse Impact on Economic, Social and Cultural Rights in Developing Countries
Journal of Human Rights, Vol. 9, No. 4, pp. 487-501, November 2010
16 Pages Posted: 25 Jul 2011
Date Written: October 1, 2010
Abstract
The article identifies the obligations required of a state party under the International Covenant on Economic, Social and Cultural Rights and demonstrates how they may be infringed as a result of huge debt repayments to creditors. It argues that creditor states have human rights obligations beyond their borders and towards the people of debtor states. These “extra-territorial” human rights obligations make imperative the demand for debt relief to the poorest debtor countries.
Keywords: debt crisis, foreign debt and human rights, debt relief, human rights obligations, extra-territorial human rights obligation
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