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Max Planck Encyclopedia of International Procedural Law [MPEiPro]

Sovereign Debt Litigation

Rodrigo Olivares-Caminal

From: Oxford Public International Law (http://opil.ouplaw.com). (c) Oxford University Press, 2021. All Rights Reserved.date: 22 April 2021

Subject(s):
Diplomatic missions — Immunity from jurisdiction — International financial law — Debts — Loans — Sovereignty — International courts and tribunals, procedure

Published under the direction of Hélène Ruiz Fabri, with the support of the Department of International Law and Dispute Resolution, under the auspices of the Max Planck Institute Luxembourg for Procedural Law.

1 For all the talk of sovereignty, countries and their governments are not omnipotent. They have limitations just like the citizens that compose them. Much like its citizens, a country will face pressures in paying all of its bills on time and in creating wealth through sound investments. Much of this is handled by fiscal policy, which is the discipline of what government revenues to collect, who to collect them from, and how to spend them. However much like an individual living day-to-day from a salary, fiscal policy has its limitations in that a government that...
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