Sovereign debt restructuring: the role and limits of public international law

The monograph “Sovereign Debt Restructuring: The Role and Limits of Public International Law” fills in a gap in recent literature focussing on the most important rules of public international law applicable to sovereign indebtedness. After providing a brief overview of the main debt restructuring vehicles that have been developed over time, the book traces a distinction between the rules of public international law that are relevant for debtor States (State succession in respect of debts, the odious debt doctrine, sovereign immunity and economic necessity) and creditor States (diplomatic protection and the conclusion of treaties specifically aimed at providing debt relief to a country). The book not only covers in detail the law and practice of the two international organisations that are mostly involved in sovereign debt issues (the IMF and the United Nations), but also examines the increasing role played by financial industry associations in the field (IIF, ICMA, ISDA). The book “Sovereign Debt Restructuring: The Role and Limits of Public International Law” will appeal to scholars and legal practitioners. Officials working in the field of sovereign debt will find it a useful reference, as will legal counsel in banks and international financial institutions.