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Sovereign Debt and Human Rights$
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Ilias Bantekas and Cephas Lumina

Print publication date: 2018

Print ISBN-13: 9780198810445

Published to Oxford Scholarship Online: January 2019

DOI: 10.1093/oso/9780198810445.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 13 June 2021

Sovereign Debt and the Right to Food

Sovereign Debt and the Right to Food

(p.186) 10 Sovereign Debt and the Right to Food
Sovereign Debt and Human Rights

Olivier De Schutter

Oxford University Press

Sovereign debt and the measures imposed on indebted nations, in conjunction with trade liberalisation under the WTO or other similar regimes have forced many countries to forego traditional food security schemes, particularly through state subsidies. As a result, price fluctuations in staple commodities as well as currency fluctuations have forced poorer nations to effectively surrender their food sovereignty in favour of their multilateral trade obligations, investment obligations and debt repayment agreements with both private and public lenders, particularly through the facilitation of multilateral development banks. This chapter traces the roots of food insecurity as a result of sovereign debt-related measures, policies and effects. It does so through particular paradigms, especially through the work of pertinent UN mandates. It examines in what manner the right to food, as enshrined in the ICESCR, may be fulfilled as well as how food security can co-exist alongside trade liberalisation.

Keywords:   Food security, right to food, WTO, trade liberalisation, multilateral development banks

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