"The use a loan is put to is not fundamnetal for characterizing the debt as odious. Financial support for a criminal regime, even if it happens to build a school or a hospital, amounts to consolidating the said regime.
The nature of the regime aside, the use of funds should suffice to qualify debts as odious whenever these funds are used against the populations's major interests or when they directly enrich the regime's inner circle. Thus, debts incurred within the framework of structrural adjustments fall into the category of odious debts, since the destructive character of the SAP [Structural Adjustment Program] has been clearly shown, including by UN agencies."
Toussaint and Millet, 2010, pp. 249-50
The nature of the regime aside, the use of funds should suffice to qualify debts as odious whenever these funds are used against the populations's major interests or when they directly enrich the regime's inner circle. Thus, debts incurred within the framework of structrural adjustments fall into the category of odious debts, since the destructive character of the SAP [Structural Adjustment Program] has been clearly shown, including by UN agencies."
Toussaint and Millet, 2010, pp. 249-50
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