Public debt

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PUBLIC DEBT. That which is due or owing by the government.
     2. The constitution of the United States provides, art. 6, s. 1, that "all debts contracted or engagements entered into, before the adoption of this constitution, shall be as valid against the United States under this constitution, as under the confederation." It has invariably been the policy since the Revolution, to do justice to the creditors of the government. The public debt has sometimes been swelled to a large amount, and at other times it has been reduced to almost nothing.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
The Governor of the National Bank of Rwanda and the Vice-Chairperson of AACB, John Rwangombwa said that Africa's rising sovereign debt should be not be taken as a unique problem to Africa noting that many Global economies are facing the challenge of rising sovereign debt as data from the International Monetary Fund (IMF) shows.
Except Italian and Portuguese banking systems, banking systems in the eurozone have reduced their exposure to sovereign debt between July 2017 and July 2018.
The Barbados sovereign debt restructuring exposes SFCL to potential investment losses.
While he travelled well, Sovereign Debt did not enjoy a dream route so it would be fair to expect a good bit of progress from that effort.
"Expanding US sanctions to include dealings in new Russian sovereign debt without corresponding measures by the EU and other US partners could undermine efforts to maintain unity on Russia sanctions," the document stressed.
Even so Sovereign Debt is 3lb better off with Mutakayyef for being beaten a length in the Ganton Stakes at York 13 months ago.
In this paper we investigate the relation between sovereign debt and corporate capital structure across different countries, which represent developed and emerging economies of the European Union (EU).
As this article will explain, the risk of sovereign debt crises is expected to rise over time, yet the current system for dealing with both the threat and reality of sovereign default is ill-suited to a world in which the primary source of financing government capital projects is private investors in other countries.
Beyond mere rebuttal, Section V makes a positive case for the value of vultures and argues that the self-interested pursuit of vulture investors throws off benefits to other bond investors, to sovereign borrowers, to the sovereign debt market, and to the debtor's society and the society that hosts the sovereign debt markets where nations borrow.
Read the nine principles on sovereign debt restructuring approved by the UN General Assembly in September: "In adopting the resolution, the UN General Assembly states that sovereign debt restructuring processes should be guided by customary law and by basic international principles of law, such as sovereignty, good faith, transparency, legitimacy, equitable treatment and sustainability."