Burundi Legal Position Paper
LEGAL COMMITTEE Burundi’s Position on the Legal Aspects of Odious Debt
Introduction
Burundi, one of the world’s smallest nations, has just emerged from a 12-year ethnic-based civil war. The war started in 1993 and just ended in 2005, which then caused an alteration in the government political system to take on a democratic form. They are now in process of peace although they are still in the struggle of reviving their shattered economy and forging national unity. Burundi is a landlocked island surrounded by the Democratic republic of Congo, Rwanda, and Tanzania. Burundi’s GDP per capita is about $139, and only 18% of the population has food security. Due to its poor economy, Burundi is at this moment burdened by huge debts and is struggling to pay those debts and revive their economic condition.
Burundi’s Stance on the Legitimacy of Odious Debt
Odious debts are debts that are contracted by the government for purposes that are against the interest of the citizens of the state. Despite the fact that Burundi has a very poor economy, we are not very sure that odious debt has been or is being implemented in our country. Burundi deals with many economic problems, which then leads to many other problems such as low education and lack of medical supplies. These issues have led Burundi into various debts. Burundi has paid off some of their debts with the help of the International Monetary Fund (IMF). Currently, we are still struggling to pay off our debts and revive our economy.
Burundi’s Experiences and Circumstances in Debts and Odious Debts
Burundi has received much help from the IMF (International Monetary Fund), World Bank, and many other institutions. Creditors have helped us a great deal by reducing our debts. Burundi became the 24th country to reach final stage of the IMF debt relief program. Burundi has also been categorized as one of the “heavily indebted poor countries” and received additional debt relief from the Multilateral Debt Relief
Introduction
Burundi, one of the world’s smallest nations, has just emerged from a 12-year ethnic-based civil war. The war started in 1993 and just ended in 2005, which then caused an alteration in the government political system to take on a democratic form. They are now in process of peace although they are still in the struggle of reviving their shattered economy and forging national unity. Burundi is a landlocked island surrounded by the Democratic republic of Congo, Rwanda, and Tanzania. Burundi’s GDP per capita is about $139, and only 18% of the population has food security. Due to its poor economy, Burundi is at this moment burdened by huge debts and is struggling to pay those debts and revive their economic condition.
Burundi’s Stance on the Legitimacy of Odious Debt
Odious debts are debts that are contracted by the government for purposes that are against the interest of the citizens of the state. Despite the fact that Burundi has a very poor economy, we are not very sure that odious debt has been or is being implemented in our country. Burundi deals with many economic problems, which then leads to many other problems such as low education and lack of medical supplies. These issues have led Burundi into various debts. Burundi has paid off some of their debts with the help of the International Monetary Fund (IMF). Currently, we are still struggling to pay off our debts and revive our economy.
Burundi’s Experiences and Circumstances in Debts and Odious Debts
Burundi has received much help from the IMF (International Monetary Fund), World Bank, and many other institutions. Creditors have helped us a great deal by reducing our debts. Burundi became the 24th country to reach final stage of the IMF debt relief program. Burundi has also been categorized as one of the “heavily indebted poor countries” and received additional debt relief from the Multilateral Debt Relief