Dealing fairly with developing country debt

de Christian Barry, Barry Herman

"The recent economic collapse in Argentina and financial crisis in Turkey, and the persistent unsustainable debt burdens of many developing countries highlight the practically urgent problem of excessive indebtedness. High debt levels can limit a sovereign government's capacity to provide social services necessary for the well-being of its citizens, and divert resources and energy from the pursuit of long-term development strategies. In this book, philosophers, theologians, lawyers and economists examine questions related to how to deal fairly with the over-indebted governments of developing countries. These questions include: How do you balance obligations to repay a debt with potentially worsening poverty in the debtor country? Should creditors be held accountable - and if so, how - for loans to governments that are not even minimally representative of their people's interests? Are there reforms to the practices governing sovereign borrowing and lending to sovereigns that would increase fairness in how the world treats developing countries with debt difficulties?"--Publisher's description.