The Effect of States Succession on Public Loans

Abstract

The State is the principal person of the public international law. This personality is achieved by the meeting of three elements: the people, the territory and the political organization, but can only begin diplomatic relations with States through recognition. In the life of the State, circumstances may require it to borrow, but the State is not eternal. It emerges, develops and sometimes disappears. So, we will be in front of two cases of the variables that affect the state; the first one is when the changes happened without affecting the international personality and the second are the changes in the state that lead to the disappearance of its international personality. In both cases, there are legal effects on many of the phenomena by which the State deals, including loans to other states.