Principles for a Debt Tribunal

Debt campaigners will know that much of the current debate surrounding debt centres around the need for a Debt Tribunal. But what would such an institution look like, and what impact would it's activities have on the lives of poor people in indebted countries? Attached below are some of the most recent and authoritative papers discussing the workings of the Debt Tribunal. There is also on the Resources page a link to a blog where you can discuss the sometimes controversial topic of the Debt Tribunal.

Odious and Illegitimate Debt

Jubilee Scotland supports the international Jubilee campaign in calling for the cancellation of debts on the basis that they are odious or illegitimate, for example, debts that were originally made to dictators, but which are being repaid by their victims. But how precise can we in determining whether a debt is odious or illegitimate? The papers gathered below sketch out some of the debate around how we can identify and ultimately cancel these kind of debts.

Responsible Lending

The Jubilee Movement has talked a great deal about bad debt, but what does a good debt look like? Is there such a thing as responsible lending - especially in the case of poor countries? How would we recognise it if we saw it, and how - furthermore - can we strengthen the laws that instil proper ethics in lending? The papers gathered below attempt to address the issue of good finance.

HIPC and Existing Debt Relief

How far have we come? The Highly Indebted Poor Country debt relief initiative released hundreds of millions of pounds for schools, hospitals and other essential services in some of the poorest countries of the world. But what of those countries that fell outside the programme? And what happens to countries once they have come through the HIPC process? Available for download below are a range of some of the key viewpoints on existing debt cancellation.

The Effects of the Financial Crisis on Heavily Indebted Countries

What was the effect of the 2008-9 financial crisis on the poorest countries of the world? Which countries are at risk of falling back into debt distress, and which ones are already back in trouble? Debate about this issue is not simply between civil society and the International Financial Institutions - it is within the IFIs themselves. The paper here represents a dissenting view within the International Monetary Fund of an approaching debt crisis which neither the World Bank or IMF is prepared for.