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Making Sovereign Financing and Human Rights Work

Making Sovereign Financing and Human Rights Work

Author: Juan Pablo Bohoslavsky; Jernej Letnar Cernic
Publisher: Hart Publishing
ISBN: 9781509909247

Published In: July 2016
Format: Paperback , 390 pages
Jurisdiction: U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only
Hardback Edition ISBN: 9781849464383

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Poor public resource management and the global financial crisis curbing fundamental fiscal space, millions thrown into poverty, and authoritarian regimes running successful criminal campaigns with the help of financial assistance are all phenomena that raise fundamental questions around finance and human rights. They also highlight the urgent need for more systematic and robust legal and economic thinking about sovereign finance and human rights.

This edited collection aims to contribute to filling this gap by introducing novel legal theories and analyses of the links between sovereign debt and human rights from a variety of perspectives. These chapters include studies of financial complicity, UN sanctions, ethics, transitional justice, criminal law, insolvency proceedings, millennium development goals, global financial architecture, corporations, extraterritoriality, state of necessity, sovereign wealth and hedge funds, project financing, state responsibility, international financial institutions, the right to development, UN initiatives, litigation, as well as case studies from Africa, Asia and Latin America. These chapters are then theorised by the editors in an introductory chapter.

In July 2012 the UN Human Rights Council finally issued its own guidelines on foreign debt and human rights, yet much and most remains to be done to promote better understanding of the legal and economic implications of the interface between finance and human rights. This book will contribute to that understanding as well as help practitioners in their everyday work. The authors include world-renowned lawyers and economists, experienced practitioners and officials from international organisations.

Foreword

Acknowledgements

List of Contributors

Table of Cases

Table of Legislation

Placing Human Rights at the Centre of Sovereign Financing

Juan Pablo Bohoslavsky and Jernej Letnar Cernic

Part I Debt and Gross Violations of Political and Civil Rights

Rational Choice and Financial Complicity with Human Rights Abuses: Policy and Legal Implications

Juan Pablo Bohoslavsky and Abel Escribà-Folch

UN Sanctions that Safeguard, Undermine, or Both, Human Rights

Patricia Pinto Soares

The Significance of Human Rights for the Debt of Countries in Transition

Dustin Sharp

Establishing Liability for Financial Complicity in International Crimes

Nadia Bernaz

Part II Debt Crises and Social and Economic Rights

Human Rights and Sovereign Debt Workouts

Matthias Goldmann

A Sovereign Debt Overhang, Human Rights and the MDGs: Legal Problems through an Economist’s Lens;

Kunibert Raffer

Debts and State of Necessity

August Reinisch and Christina Binder

Global Financial Architecture and Human Rights

Rosa M Lastra

10.

Sovereign Financing and Corporate Responsibility for Economic and Social Rights

Jernej Letnar Cernic

Part III Specific Financial Actors and Instruments, and Novel Approaches

11.

Ethical Sovereign Investors: Sovereign Wealth Funds and Human Rights

Angela Cummine

12.

Sovereign Financing and the Human Rights Responsibilities of Private Creditors

Nicola Jägers

13.

Project Finance and Human Rights

Sheldon Leader

14.

Enhancing the International Monetary Fund’s Compliance with Human Rights – The Issue of Accountability

Giuseppe Bianco and Filippo Fontanelli

15.

Extraterritorial Human Rights Violations and Irresponsible Sovereign Financing

Fozia Nazir Lone

16.

Sovereign Debt and Human Rights: The United Nations Approach

Cephas Lumina

Part IV Case Studies

17.

Bloody Bucks? – Foreign Finance and Armed Conflicts in Africa

Dan Kuwali

18.

Development, Sovereign Support to Finance and Human Rights: Lessons from India

Surya Deva

19.

Contemporary Lessons from Carter’s Incorporation of Human Rights into the Financing of Southern Cone Dictatorships

Robert Bejesky and Juan Pablo Bohoslavsky

20.

Engagement, Divestment or Both? Conflicts and Interactions: The Case of the Norwegian Pension Fund

Andreas Follesdal

21.

Towards Making Blood Money Visible: Lessons Drawn from the Apartheid Litigation

Ingrid Gubbay

Index

Juan Pablo Bohoslavsky is a sovereign debt expert at UNCTAD.
Jernej Letnar Cernic is Assistant Professor of Human Rights Law, School of Government and European Studies, Slovenia.