Odious debt
Odious debts (English: odious debts even dictator debt ) is a standard developed by Alexander Nahum Sack, a Russian minister, and after the Russian Revolution professor of law in Paris, in the 1920s international legal concept, but not so far been received in its entirety in international law in force is.
According to the theory of odious debts debt are considered abhorrent and illegitimate and therefore need not be repaid if:
There are no clearly defined criteria as to when debts are odious debts. The repayment of debt obligations are contrary to the interests of the successor government. Since the funds raised through loans flowed into elites, served to suppress the population, or other use found that was not in the interests of the population, according to the doctrine of odious debts not be expected the obligation of the government result. Thus, at the same time to potential lenders are deterred to support these regimes.