Soviet repudiation of Imperial Russian foreign debt.

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RedRight
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Joined: 18 Mar 2017 12:30
Location: Poland

Soviet repudiation of Imperial Russian foreign debt.

Post by RedRight » 04 Aug 2019 17:54

I 'm looking for all reasons. Here are some of them.

1. A sovereign state is allowed to repudiate.
2. A revolution can cancel debts. (France - holding the majority of Russian debt - has done it).
3. Debts of a tyrant are illegitimate. (A French rule again).
4. Most of those debts financed the First World War what helped the West.
5. The Allied intervention in the Russian Civil War caused significant damage.
6. After the war Russia lost 26% of it's population. Part of it was only regained 20 years later.

I have also read that the Treaty of Brest-Litovsk (Ukraine–Central Powers) of 9.02.1918 was the direct reason for the repudiation(10.02.1918) but I don't remember the reasoning and the source.

Art
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Re: Soviet repudiation of Imperial Russian foreign debt.

Post by Art » 05 Aug 2019 20:31

Internal debts were declared void as well. The Soviet government nullified practically all (with some exemptions) previous state bonds as well as state guarantees of corporative debts.

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