Sovereign Debt and Human Rights

Ilias Bantekas, Professor of Law, Brunel University and Northwestern University, Cephas Lumina, University of Fort Hare, Professor of Law

Ilias Bantekas is Professor of International Law and Arbitration at Brunel and Northwestern Universities and a senior fellow at the Institute of Advanced Legal Studies of the University of London. He has consulted governments, international organisations, private clients and NGOs in most areas of international law and regularly acts as arbitrator. Key works include: International Human Rights Law and Practice (2nd ed, CUP 2016 with L Oette); International Law (3rd ed, OUP 2017, with E Papastavridis); and Introduction to International Arbitration (CUP 2015).

Cephas Lumina is full Research Professor of Law at the University of Fort Hare, an Extra-Ordinary Professor of Human Rights Law at the Centre for Human Rights, University of Pretoria, an Advocate of the High Court of Zambia and the former United Nations Independent Expert on the effects of foreign debt and other related international financial obligations of States on the full enjoyment of all human rights, particularly economic, social and cultural rights). His work, particularly the UN Guiding Principles on Foreign Debt and Human Rights, is considered as having changed the political and legal landscape in the area of sovereign debt and human rights. He has consulted for various regional and international organisations, governments and non-governmental organisations on human rights and related issues. He is currently a Member of the United Nations Committee on the Rights of the Child.

I: The Historical, Economic and Political Context of Sovereign Debt
1. The Historical Context of Sovereign Debt, Kim Oosterlinck
2. Sovereign Debt Crises: A Problem of Debt Management?, Rosa Maria Lastra and Vassilis Paliouras
3. The Importance of Upholding Creditor Rights, Arturo Porzecanski
II: Sovereign Debt Financing: Institutions and Modalities
4. Private Loans to Sovereign Borrowers, Mauro Megliani
5. Export Credits, Sovereign Debt, and Human Rights, Sara L Seck and Daniela dos Santos
6. The Financial and Social Cost of Public Private Partnerships, Maria Jose Romero and Bodo Ellmers
7. Foreign Investment and Sovereign Debt, Matthias Goldman
8. The Role of Credit Rating Agencies, Aline Darbellay Suso
III: The Impact of Sovereign Debt on Human Rights
9. Sovereign Debt and Human Rights: Making the Connection, Cephas Lumina
10. The Burden of Foreign Debt, Food Sovereignty, and the Right to Food, Olivier De Schutter
11. Debt and the Right to Health, Tim Jones
12. Debt and its Impact on the Right to Education, Ilias Bantekas
13. Debt and the Right to Development, Gail Hurley
14. Debt and the Right to Self-Determination, Ilias Bantekas
15. Debt Crises, Economic Adjustments, and Labour Standards, Juan Pablo Bohoslavsky and Franz Ebert
16. The Impact of Debt on Civil and Political Rights, Sarah Joseph
17. Illicit Financial Flows, Debt, and Human Rights, Cephas Lumina and Mulesa Lumina
IV: The Impact of Economic Adjustment Policies on Human Rights
18. Towards More Ethical Lending to Sovereigns, Barry Herman
19. Conditionality and Debt Relief: An Overview, Alex Kentikelenis and Thomas Stubbs
20. Austerity Measures and Human Rights, Ben Warwick
21. Privatization and Human Rights, Cephas Lumina
V: Human Rights-Based Responses to Sovereign Debt Crises
22. The Impact of Austerity on Women, Cephas Lumina and Kate Lappin
23. Sovereign Debt as Odious/Illegitimate: Perspectives from International Law and Human Rights, Robert Howse and Margot Salomon
24. A Human Rights-Based Approach to Debt Sustainability, Martin Guzman and Joseph Stiglitz
25. An International Sovereign Debt Restructuring Mechanism, Ilias Bantekas
26. Citizen Debt Audits, Maria Lucia Fatorelli
27. Dealing with Holdout Creditors ("Vulture Funds"), Eric Le Compte
28. Ensuring Sustainable Financing through Domestic Resource Mobilisation, Francesco Seatzu
29. Unilateral Default and Debt Repudiation as a Human Rights Defence, Ilias Bantekas
IV: Conclusion
Conclusion, Ilias Bantekas and Cephas Lumina