A/HRC/25/50
rights”. As several studies and the concluding observations of the various treaty bodies
indicate, excessive foreign debt burdens constitute an obstacle to the enjoyment of human
rights, particularly economic, social and cultural rights.
8.
Secondly, these contentions are inconsistent with the spirit and purport of General
Assembly resolution 60/251 establishing the Human Rights Council and the commitments
which candidate States for membership of the Council make. In resolution 60/251, the
Assembly recognized “the importance of ensuring universality, objectivity and nonselectivity in the consideration of human rights issues, and the elimination of double
standards and politicization” and decided that the work of the Council should “be guided by
the principles of universality, impartiality, objectivity and non-selectivity, constructive
international dialogue and cooperation, with a view to enhancing the promotion and
protection of all human rights, civil, political, economic, social and cultural rights,
including the right to development”. It should also be noted that members of the Council
are required to “fully cooperate with the Council”.
9.
Thirdly, as the report of the independent expert assessing the human rights impact of
international debt relief initiatives shows (A/HRC/23/37), the “[r]ules other than human
rights law”4 and “other international fora which are much better equipped to deal with the
questions of foreign debt and debt forgiveness” (presumably, the international financial
institutions and the Paris Club5) have thus far failed to deliver an equitable and enduring
solution to the sovereign debt problem. As creditors, these institutions cannot realistically
be expected to focus on finding a solution to the debt crisis that prioritizes social and
economic justice over debt repayment.6 It is also notable that these institutions have neither
a human rights mandate nor the expertise to properly factor human rights into their policies
and programmes. Furthermore, the “[r]ules other than human rights law” afford no
protection for States that face debt repayment difficulties as is the case with individuals and
entities in comparable situations under national insolvency laws,7 nor do they acknowledge
or address the unjust or odious circumstances in which some of the sovereign debt was
incurred.
10.
Fourthly, the various United Nations human rights treaty bodies have recognized the
adverse impacts of high debt burdens and related economic adjustment programmes on the
realization of human rights, particularly economic, social and cultural rights.8 They have
4
5
6
7
8
Ibid.
The Paris Club is an informal group of creditor countries which serves as a forum for renegotiating
official sector debts (that is, debts that have been issued, insured or guaranteed by creditor
governments) owed to its members. Its permanent members are Australia, Austria, Belgium, Canada,
Denmark, Finland, France, Germany, Ireland, Italy, Japan, Netherlands, Norway, Russia, Spain,
Sweden, Switzerland, United Kingdom of Great Britain and Northern Ireland and United States of
America. Other creditors are allowed to participate in negotiations on an ad hoc basis. See
http://www.clubdeparis.org/en.
For example, it has been asserted that the World Bank and the International Monetary Fund “helped
to create the very situation of indebtedness that they themselves had responsibility for fixing”. (Luke
Fletcher and Adele Webb, Alternatives to Debtors Prison: Developing a Framework for International
Insolvency,” Policy Paper by Jubilee Australia (October 2011), p. 19, available from
www.acfid.asn.au/resources-publications/publications/acfid-research-in-development-series.
See, for example, K. Raffer, “Internationalizing US municipal insolvency: a fair, equitable, and
efficient way to overcome a debt overhang”, Chicago Journal of International Law, vol. 6, No. 1
(2005), pp. 361-379.
See the following concluding observations, Committee on Economic, Social and Cultural Rights:
E/C.12/1/Add.106 (Zambia); E/C.12/1/Add.78 (Benin); E/C.12/Add.71 (Algeria); E/C.12/1/Add.66
(Nepal); E/C.12/1/Add.63 (Syrian Arab Republic); E/C.12/1/Add.62 (Senegal); E/C.12/1/Add.60
(Bolivia, Plurinational State of); E/C.12/1/Add.57 (Honduras); E/C.12/1/Add.55 (Morocco);
5
Select target paragraph3
Connect to a paragraph
Connect to an entity
Disable highlights
Add to table of contents