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The International ESR Obligations of States and IFIs during Sovereign Debt Management

About the Project:

The international processes that are followed to resolve sovereign debt crises - generally referred to as 'sovereign debt management' (SDM) - might affect the enjoyment of internationally recognized socio-economic rights (ESR) by persons who live in debtor countries. Against this backdrop, the thesis examined and aimed to clarify the international ESR obligations of the main actors that engage in SDM processes, namely: i) the indebted state; ii) third states that act as bilateral or multilateral lenders; and iii) international financial institutions. The study distinguished between two 'actor-based' types of SDM processes, identified the forms of conduct of the involved actors and the categories of the applicable conditionalities, and explained how the latter can negatively affect ESR enjoyment within a debtor country. In turn, the thesis investigated the existence, scope and meaning of each actor's international ESR duties, and addressed jurisdictional matters that emerge in that regard. Lastly, the project explored the benefits of adopting an ESR-approach to SDM, and offered insights on how the ESR duties of each actor can be better operationalized in SDM contexts. 


PhD candidate

Supervisor