Columbia International Affairs Online
CIAO DATE: 4/5/2008
Justice and Developing Country Debt
February 2007
The New School Graduate Program in International Affairs
Abstract
This paper draws on recent discussions by lawyers, theologians, philosophers and economists to reach some conclusions about the just international treatment of the government over-indebtedness and insolvencies that have occurred and recurred many times in many developing countries. It asks what should be considered “fair” expectations in the relationship of government borrowers and their lenders. It also considers some proposed reforms in the international treatment of sovereign borrowing and debt that are prompted by the ethical analyses.
