A Law-and-Economics Analysis of Odious Debts

(February 7, 2007) Much of the debate surrounding odious debts begs the question of whether the ‘odiousness’ of a debt can serve as a qualification for the rule of state succession. The legal and economics rationales of the rule date back to the classical writings on the subject and can be derived from state practice.

Renegotiating the odious debt doctrine

(February 1, 2007) Following the United States’ invasion and subsequent occupation of Iraq,1 the U.S. government argued that the successor government in Iraq was not responsible for Iraq’s Saddam-era debt under the purported doctrine of odiousregime debt. This purported doctrine apparently excused—by operation of law—all successor regimes from repaying debts that were incurred by oppressive predecessor regimes.