Abstract
This essay delves into the intricate interplay between religious principles and debt forgiveness for nations weighed down by crippling debt burdens. It explores the possibility of incorporating these principles into international law and policy and analyses their potential impact on ongoing and future debt relief programs. With a comprehensive examination of the ethical foundations of debt forgiveness in major world religions such as Christianity, Islam, Judaism, Hinduism, and Buddhism, this essay dissects the fundamental moral imperatives that underpin the movement towards debt relief. Moreover, it underscores the link between sovereign debt and poverty, highlighting the urgent need to prioritise the interests of vulnerable populations in any debt relief program. By taking a multi-faith approach to incorporating religious principles into global law and policy on debt relief, this essay examines the benefits and challenges of this approach in a world characterised by legal pluralism. It aims to demonstrate the potential of religious teachings to inform and shape international law and policy on sovereign debt relief, thus creating a more equitable and humane global economic system that places the well-being and dignity of all individuals at the centre of its priorities.
Details
Presentation Type
Paper Presentation in a Themed Session
Theme
KEYWORDS
Religious Principles, Debt Forgiveness, Sovereign Debt
