The Architecture of World Governance
The UN Reform and the Alterglobalization Movement
Dialogs on Party Systems and Global Democratization
Rethinking Global Governance
For a Legitimate, Efficient, and Democratic Global Governance
Redefining Global Governance to Meet the Challenges of the Twenty-first Century
The Future of Global Governance
Structure of Global Governance: Explaining the Organizational Design of Global Rulemaking Institutions
The UN and World Governance
The UN: Which Reforms for What Future?
From Westernization to Globalization. A Brief History of Chinese Modernity
Moving Toward a New World Governance
For a World Citizen Movement
On the Road to a Citizens Assembly
Political Oversight of the ICANN: A Briefing for the WSIS Summit
Declaration of Nyéléni
Kicking the Habit: The World Bank and the IMF Are Still Addicted to Attaching Economic-policy Conditions to Aid
The IMF, the World Bank, and Respect of Human Rights
Bank of the South, International Context, and Alternatives
Campaign for People’s Goals for Sustainable Development
The Bamako Appeal
Marrakech Process for the Protection and Promotion of All Human Rights of Migrants and Persons in Transnational Mobility
A War Hiding Another War
Post-2015: Global Action for an Inclusive and Sustainable Future
The Emergence of Global Administrative Law
The Cosmopolitan State
Net Neutrality as Global Principle for Internet Governance
This memo is a brief analysis of a few proposals for the institution of an international arbitration tribunal on debt. The idea is to institute an independent international arbitration body that recognizes the respective responsibilities of debtors and creditors. Facing the seriousness of the problem of external debt, this tribunal is intended as a more realistic proposal than the proposals advocating plain and simple cancellation.
The proposals aim at an in-depth solution through a perfectly natural and traditional means existing in international law: arbitration, an institution extensively used by states and individuals, particularly in private law in international trade. In this sense, it should be noted that arbitration constitutes a much more flexible legal means with a lighter and therefore more accessible procedure than in other types of tribunal. Moreover, the cost of this procedure would be accessible to states, including the poorest ones.
The proposals themselves aim at using a jurisdiction characterized by its neutrality of principle and intended as more advantageous to debtor states. The point is in the end to correct an inequitable and unfair legal relation. The central issue on which the tribunal is to focus is the evaluation of a country’s debt in its entirety in order to determine which part is licit and which illicit.
The memo is mainly intended for the international network of the NGO Committee for the Abolition of Third World Debt (CADTM) in order to clarify its position and at the same time provide its members with a few working elements. It describes the proposals, the motivations in favor of an arbitration tribunal on debt, its jurisdiction, the practical difficulties, the responsibility of international financial institutions and private creditors, and finally, the position of the committee and the course decided upon.