Debt justice for taxpayers long overdue

debt

In cases of debt distress, preference has been how to save creditors. PHOTO | SHUTTERSTOCK

I have been reading up on the subject of debt justice and the whole concept of odious debt and how odiousness has been invoked by newly elected government regimes to repudiate obligations contracted by outgoing corrupt.

The most fascinating case for me was the episode in Mozambique where a constitutional court declared null and void loans worth $1.4 billion that triggered the country’s worst financial crisis.

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Note: The results are not exact but very close to the actual.