A/HRC/11/10 page 23 appropriate links to existing international human rights and other standards. In this regard, the independent expert will draw upon the insights he gained from participating in the seminar on the draft guiding principles on extreme poverty and human rights in January 2009. 82. The Council, in its resolution 7/4, requests the independent expert “to seek the views and suggestions of States, international organizations, United Nations agencies, funds and programmes, regional economic commissions, international and regional financial institutions and non-government organizations on the draft general guidelines”. While the independent expert has brought the guidelines to the attention of all stakeholders that he has met since assuming his mandate, the response rate has been low. B. Trade and debt 83. In accordance with resolution 7/4, the independent expert intends to explore the linkages between debt and trade. 84. The independent expert is of the view that a debt level consistent with fulfilling human rights commitments cannot be maintained by debt relief measures alone. The evolution of HIPC Initiative beneficiaries after debt relief, whereby several have seen their debts quickly rise again owing to the plunge in the prices of commodities they export clearly demonstrates the link between terms of trade and the process of debt accumulation. 85. Since debts must ultimately be repaid by exports, a decline in export prices raises the real value of debt. Consequently, measures to enhance the terms of trade for indebted countries, particularly through export diversification and measures to strengthen the contribution of exports to public revenue, should be part and parcel of long-term debt sustainability. In turn, debt service payments should not be so high as to prevent the development of an export-investment nexus that can assist low- and middle-income developing countries to progress towards greater prosperity and self-sufficiency in raising the standards of living of their populations, and enhancing the enjoyment of all human rights. 86. In this regard, the independent expert intends to monitor and examine trade rules and policies in the context of global efforts to address the debt problem, and he will undertake consultations with all stakeholders with a view to making recommendations that could contribute to ensuring coherence between trade and debt policies. C. Creditor co-responsibility and illegitimate debt 87. Although the debate concerning responsibility for debts incurred through reckless or self-interested lending by some developed countries has a long history, it has, since the Monterrey Consensus, assumed a prominent place in recent discussions concerning the just resolution of the debt crisis. The recognition in the Monterrey Consensus that creditor and debtor countries are both equally responsible for preventing and solving unsustainable debt problems has opened up the debate on the question of creditor co-responsibility for illegitimate debts.