A/HRC/20/23 outlines the foundational principles drawn from existing international human rights and other standards on which the principles are based; section III contains the operational principles. IV. Implementation of the principles 17. The guiding principles do not seek to create new rights or obligations in international law, nor do they supplant other mechanisms designed to address aspects of the sovereign debt problem. Rather, their normative contribution lies in identifying existing basic human rights standards applicable to sovereign debt and related policies, as well as in elaborating the implications of these standards. Further, the principles should be seen as a complement to other initiatives such as the United Nations Guiding Principles on Business and Human Rights; the United Nations Conference on Trade and Development Draft Principles on Promoting Responsible Sovereign Lending and Borrowing; and international debt relief mechanisms. 18. The Independent Expert is honoured to submit these guiding principles to the Human Rights Council for its consideration. He urges the Council and all Member States of the United Nations to demonstrate their commitment to finding an equitable and durable solution to the debt crisis, particularly of developing countries, as expressed in, inter alia, the Millennium Declaration and the Monterrey Consensus, by endorsing the guiding principles. 19. In order to assist States and other stakeholders in implementing the principles, it has been suggested that a commentary on the guiding principles be developed. The Independent Expert is amenable to this proposal and, if the Council is agreeable, he could prepare such a commentary and submit it to the Council for its consideration. 8