Towards a legal framework for restructuring sovereign debt: UN takes historic first step

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THIRD WORLD RESURGENCE
Issue No. 289 (Sept 2014) Click on cover to download the magazine (PDF) COVER: Towards a legal framework for restructuring sovereign debt: UN takes historic first step* Battle hots up to curb 'vulture funds' Argentina’s battle against a couple of hedge funds has culminated in an historic UN resolution towards the establishment of an international debt restructuring mechanism. By Martin Khor Why the world needs to stand with Argentina Argentina's problems with 'vulture funds' have far-reaching implications for the stability of the system of cross-border debt. By Jayati Ghosh Argentina takes on pirates and vultures In the current battle between Argentina and the vulture funds, the world waits to see whether the ruthless world of Wall Street piracy or sanity will prevail. By Dan Beeton Historic UN vote on a multilateral sovereign debt mechanism Civil society groups played an active role in campaigning for the landmark United Nations vote on the establishment of a legal framework for sovereign debt restructuring. By Bhumika Muchhala A small step, but a step nonetheless, towards international sovereign debt reform A positive outcome can be achieved despite resistance from UN member states to an international debt restructuring mechanism. By Barry Herman The triumph of perseverance Reflections on the historic UN resolution to establish a legal framework for sovereign debt restructuring in the context of some earlier proposals for such reform. By Oscar Ugarteche Human Rights Council condemns activities of vulture funds In a resolution denouncing their activities, the UN Human Rights Council has highlighted the threat that vulture funds pose to the full enjoyment of human rights. By Kanaga Raja The sovereign, its creditors and the law When the sovereign struggles to pay its debts, the world remains a lawless place now as before. By Roberto Bissio ECOLOGY Mayan people's movement defeats 'Monsanto Law' in Guatemala In Guatemala, a move to vest exclusivity on patented seeds to a handful of transnational companies such as Monsanto has been rebuffed by indigenous Mayan communities. By Christin Sandberg	HEALTH & SAFETY Battling Ebola: Is human activity to blame? Deforestation and human activity may have played a role in the current outbreak of Ebola. By Amy Laskowski ECONOMICS Banking with a difference The New Development Bank established by the BRICS countries has to act in ways that differentiate it from the currently dominant global institutions in terms of funding patterns, rules and terms. By CP Chandrasekhar WORLD AFFAIRS Apocalypse Now, Iraq Edition 'America is now fighting the Iraq War for the third time, somehow madly expecting different results, while guaranteeing only failure.' By Peter Van Buren Stop cyberweapons now! A treaty is needed to ban cyberweapons and cyberwar, and also to ensure that public telecommunications and Internet networks are not used for offensive military purposes. By Prabir Purkayastha & Rishab Bailey HUMAN RIGHTS The intersection of human rights and tax justice A human rights approach provides an entry point to challenge regressive and unfair tax and fiscal policies. By Peter Gillespie WOMEN Women - the pillar of the social struggle in Patagonia The women of the southern wilderness region of Patagonia in Chile have played a central role in the struggle against the central government's neglect of the region. By Marianela Jarroud VIEWPOINT A distant province The visionless ignorance that Britain's rulers displayed in their campaign to keep Scotland from breaking away only served to underscore their remoteness from the rebellious Scots. By Jeremy Seabrook POETRY Mother The following poem uses simple language to portray the profound and great love of a mother. By Susmita Nepal For subscription and enquiries: THIRD WORLD NETWORK 131 Jalan Macalister, 10400 Penang, Malaysia. Tel: 60-4-2266728/2266159; Fax: 60-4-2264505; Email: twnet@po.jaring.my Third World Resurgence Page Third World Resurgence Page
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