The Loss of Sovereignty: How International Debt Relief Mechanisms Undermine Economic Self-Determination

  title={The Loss of Sovereignty: How International Debt Relief Mechanisms Undermine Economic Self-Determination},
  author={Dr Noel Villaroman},
  journal={Monash University Faculty of Law Legal Studies Research Paper Series},
  • Dr Noel Villaroman
  • Published 2 November 2009
  • Economics
  • Monash University Faculty of Law Legal Studies Research Paper Series
This article discusses the process that debtor countries go through in the two mechanisms created to work out solutions for their huge and unpayable external debts, namely, the Paris Club and the Heavily Indebted Poor Countries (HIPC) Initiative. As the international lending process is structured today, it is through these mechanisms that debtor countries obtain debt forgiveness, reduction or rescheduling. The absolute control of these two mechanisms by creditor countries will be examined… 
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