The concept and conditions of odious debt in international law and its effects

Document Type : Original Article

Authors

1 Azad University of Central unit law faculty Tehran Iran

2 assistant professor, Payame Noor University, Tehran, Iran

3 Islamic Azad Univercity Lecturer

Abstract

According to the theory of illegitimate debt, the odious debts created by the creditor knowingly, in a direction contrary to the interests of a nation, cannot oblige that nation. In this study, with the subject of the concept of illegitimate debt in international law and with the aim of clarifying the concept of illegitimate debt and considering the importance and necessity of the issue that we face today in the global debt crisis, a descriptive and analytical result was obtained. The illegitimate debt was raised by Suck, but his purpose was not to support the non-payment of the illegitimate debt. If a debt is created without the will and consent of the people and has no tangible benefit to the people and the creditors are aware of or could have been aware of these two facts, this debt is considered illegitimate and can be denied by the debtor country. The responsibility for denying the debt in this case lies with the creditor who, knowing that the debt is illegitimate, has put his capital at risk. Declaration of illegitimate regimes by the United Nations for not granting them any loans, strengthening the system of negotiations related to resolving crises arising from illegitimate debts, including the provisions of international law on all instances of government debt, restricting borrowing by illegitimate regimes and developing a comprehensive system governing illegitimate debt in international law can help alleviate the problems associated with illicit debt in international law.

Keywords

Political Sociology of Iran
Volume 5, Issue 7
September 2022
Pages 2027-2047

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