A/HRC/11/10 page 14 D. A human rights-based approach to external debt 43. A human rights-based approach is a conceptual framework that is normatively based on international human rights standards and operationally directed towards promoting and protecting human rights.25 44. Under such an approach, development policies (including development assistance and debt relief policies) are anchored in a system of rights and corresponding obligations established by international law. United Nations agencies have agreed on the essential attributes of such an approach in the following terms: (a) All programmes of development cooperation, policies and technical assistance should further the realization of human rights as laid down in the Universal Declaration of Human Rights; (b) Human rights standards contained in, and principles derived from, the Universal Declaration of Human Rights and other international human rights instruments guide all development cooperation and programming in all sectors and in all phases of the programming process; (c) Development cooperation contributes to the development of the capacities of “duty-bearers” to meet their obligations and of “rights-holders” to claim their rights.26 45. These principles make it clear that the main objective of development policies and programmes should be to fulfil human rights. A human rights-based approach identifies rights-holders and their entitlements and corresponding duty-bearers and their obligations, and aims to enhance the capacity of rights-holders to make their claims and of duty-bearers to fulfil their obligations. 46. In practical terms, a human rights-based approach to external debt means, for example, that debt sustainability analyses should take into account the human rights implications of debt service, as well as principles such as transparency, accountability, participation and attention to the most vulnerable.27 Specific measures to transform 25 Office of the United Nations High Commissioner for Human Rights, Frequently asked questions on a human rights-based approach to development cooperation (New York and Geneva: United Nations, 2006), p. 15. 26 “The Human Rights Based Approach to Development Cooperation: Towards a Common Understanding Among UN Agencies” (2003). 27 The criteria for assessing debt sustainability under the multilateral debt relief initiatives focus almost exclusively on the ability of debtor countries to repay their debts. According to the IMF, “the primary aim of the debt sustainability framework for low-income countries is to guide borrowing decisions of low-income countries in a way that matches their need for funds with their current and prospective ability to service debt, tailored to their specific circumstances”; see IMF, “The Debt Sustainability Framework for Low-Income Countries” (October 2007).