Sovereign debt markets are rapidly venturing into the world of sustainable finance. Sovereign and subsovereign borrowers increasingly use ‘green’, ‘social’, and ‘sustainability’ bonds and loans to finance their domestic sustainability agenda. The rationale behind those instruments is...

The application of the ultra vires doctrine to international state contracts is a perennial of international law. This essay investigates the role of sovereign borrowers’ local laws in determining the validity of international sovereign debt contracts. More specifically, it analyses whether...

Recent scandals in the sovereign debt market have highlighted the risks associated with hidden debt transactions. These are sovereign debt transactions in favor of a central government, sub-state entity or state-owned enterprise, whose entire existence or whose terms have not been fully...