scholarly journals Prioritising Socio-Economic Rights in Sovereign Debt Governance: The Obligations of Private Creditors

2021 ◽  
Vol 46 (1) ◽  
Author(s):  
Matthias Goldmann

Foreign investment is perceived as one of the most significant factors for development and it is no accident that a key criterion for determining that an activity qualifies as an investment under the ICSID Convention is whether it contributes to the economic or other development of the host state. Investment tribunals have in recent years examined the ambit of regulatory powers of the host state in taking measures in response to an existing debt crisis, but investment tribunals have not conclusively, or unanimously, linked socio-economic rights with investment protection. This chapter will examine the sovereign debt-related awards of investment tribunals and how foreign investment may contribute to the accumulation of sovereign debt as well as how it may be used as a tool to decrease such debt.


ICL Journal ◽  
2017 ◽  
Vol 11 (4) ◽  
Author(s):  
Antonia Baraggia ◽  
Maria Elena Gennusa

AbstractEurope can be considered a sort of fortress of the protection of socio-economic rights. However, this bright scenario has been unsettled by the eruption of the Eurozone crisis, which has challenged the narrative of social Europe and swept away protections for social rights in Member States grappling with sovereign debt crises such as Greece, Portugal, Ireland, Cyprus, Latvia and Romania. In these countries, austerity measures led to persistent violations of social rights, under the external constraint of conditionality regimes which involved cuts in wages, pensions and welfare services. Consequently, austerity measures were challenged in domestic and European Courts and before the ECSR. In other words, there has been a ‘turn to the law’, in order to give concrete effect to the potential offered by the relevant legal instruments. What has been the general attitude of the Courts and quasi-judicial bodies to actions challenging austerity measures? Since the analysis of how the Courts and other human rights bodies manage the complex and controversial balance between austerity and social rights is an excellent ‘stress test’ to determine the ‘weight’ of the latter not only in the political debate, but also in the human rights discourse, this paper will focus on the ‘crisis cases’ in Europe, so as to shed light on the actual level of protection for social rights.


2017 ◽  
Vol 25 (1) ◽  
pp. 91-113
Author(s):  
Nana Tawiah Okyir

This article argues for the strengthening and entrenchment of socio-economic rights provisions in Ghana's jurisprudence. The purpose of this entrenchment is to engender judicial activism in promoting more creative pathways for enforcing socio-economic rights in Ghana. The article traces the development of socio-economic rights in Ghana's jurisprudence, especially the influence of the requirements of the international rights movement, particularly of the International Covenant on Economic, Social and Cultural Rights (ICESCR). The article delves into the constitutional history of Ghana and its impact on the evolution of rights in the country. Of particular historical emphasis is the emergence of socio-economic rights under the Directive Principles of State Policy in the 1979 Constitution. However, the significance of the socio-economic rights only became profound with the return to democratic rule under the 1992 Constitution, again under a distinct chapter on Directive Principles of State Policy. However, unlike its counterpart, the chapter on the Fundamental Human Rights and Freedoms, which is directly enforceable, the Directive Principles of State Policy were not. It took the Supreme Court of Ghana a series of landmark decisions until finally, in 2008, it arrived at a presumption of justiciability in respect of all of the provisions in the 1992 Constitution. It is evident that prior to this, the Supreme Court was not willing to apply the same standards of adjudication and enforcement as it ordinarily applies in respect of rights under the chapter on Fundamental Human Rights and Freedoms. Having surmounted the non-justiciability hurdle, what is left is for the courts to begin to vigorously pursue an agenda that puts socio-economic rights at the centre of Ghana's rights adjudication framework. The article draws on comparative experiences from India and South Africa to showcase the extent of judicial creativity in rights adjudication. In India, the courts have been able to work around provisions restricting the enforcement of Directive Principles by often connecting them to Fundamental Freedoms. In South Africa, there is no hierarchy between civil and political rights on the one hand and socio-economic rights on the other; for that reason, the courts give equal ventilation to both sets of rights. The article further analyses these examples in the light of ongoing constitutional reforms in Ghana. It argues that these reforms fall short of the activism required to propel socio-economic rights adjudication to the forefront in Ghana's jurisprudence. In this regard, the article proposes social movements as a viable tool for socio-economic rights advocacy by recounting its success in previous controversial issues in Ghana. The article also connects this to other important building blocks like building socio-economic rights into a national development blueprint. Overall, the article calls for an imaginative socio-economic rights enforcement approach that is predicated on legislation, judicial activism, social movements and a national development blueprint aimed at delivering a qualitative life for the Ghanaian.


2020 ◽  
Vol 28 (2) ◽  
pp. 298-318
Author(s):  
Roman Girma Teshome

The effectiveness of human rights adjudicative procedures partly, if not most importantly, hinges upon the adequacy of the remedies they grant and the implementation of those remedies. This assertion also holds water with regard to the international and regional monitoring bodies established to receive individual complaints related to economic, social and cultural rights (hereinafter ‘ESC rights’ or ‘socio-economic rights’). Remedies can serve two major functions: they are meant, first, to rectify the pecuniary and non-pecuniary damage sustained by the particular victim, and second, to resolve systematic problems existing in the state machinery in order to ensure the non-repetition of the act. Hence, the role of remedies is not confined to correcting the past but also shaping the future by providing reforming measures a state has to undertake. The adequacy of remedies awarded by international and regional human rights bodies is also assessed based on these two benchmarks. The present article examines these issues in relation to individual complaint procedures that deal with the violation of ESC rights, with particular reference to the case laws of the three jurisdictions selected for this work, i.e. the United Nations, Inter-American and African Human Rights Systems.


2020 ◽  
Vol 8 (2) ◽  
pp. 97-108
Author(s):  
Dinda Izzati

Evidently, a few months after the Jakarta Charter was signed, Christian circles from Eastern Indonesia submitted an ultimatum, if the seven words in the Jakarta Charter were still included in the Preamble to the 1945 Constitution, then the consequence was that they would not want to join the Republic of Indonesia. The main reason put forward by Pastor Octavian was that Indonesia was seen from its georaphical interests and structure, Western Indonesia was known as the base of Islamic camouflage, while eastern Indonesia was the basis for Christian communities. Oktavianus added that Christians as an integral part of this nation need to realize that they also have the right to life, religious rights, political rights, economic rights, the same rights to the nation and state as other citizens, who in fact are mostly Muslims. This paper aims to determine and understand the extent to which the basic assumptions of the Indonesian people view the role of Islam as presented in an exclusive format.


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