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...

In recent years much attention has been given to systemic risk and maintaining financial stability. Much of the focus, rightly, has been on market failures and the role of regulation in addressing them. This article looks at the role of domestic policies and government actions as sources of...

In many countries, cash is fast disappearing. Credit cards, online banking apps, and digital services such as ApplePay, PayPal, or Venmo are now used by a large part of the population as their main means of payment. The common narrative of digital payments presents them as the solution to a...

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...