Just read that the Iraqi debt from the Saddam regime is still around. Isn’t that sort of dumb? Is it really conducive to sound lending practices if debtors can just go after a country no matter how changed it is? If they have to start taking into account the longevity of a regime, maybe it’ll make that market a bit more responsible? Though that would likely have a negative impact on young democratic nations, I guess.
Yeah, it’s a real Hobson’s choice.