A/HRC/37/63 institutions. He is persuaded that IMF must change its priorities, give up the outdated loan conditions of privatization, deregulation of markets and “austerity” in social services, which in the past have resulted in human rights violations, including in Greece, Argentina and Tunisia, to name but a few. 70. Bearing in mind that power dynamics are changing, it is time for the World Bank and IMF to discover a new vocation to promote development and human rights through “smart” lending practices that benefit not only banks and speculators, but billions of human beings. 71. Henceforth, IMF should make loans subject to a new set of conditions, including: (a) A moratorium on military expenditure for the duration of the loan; (b) Adoption of national legislation that ensures that national and transnational corporations pay their taxes, while profit-shifting and tax havens are outlawed; (c) Adoption of legislation imposing fines on persons and corporations that evade taxes and obliging citizens who have money hidden offshore to repatriate their wealth within a defined period of time, or face penal sanctions; (d) Adoption of legislation to prevent corruption and bribes, accompanied by effective monitoring mechanisms; (e) Enactment of financial transactions tax legislation; (f) Assurances by borrower States that no part of any loan would be used to satisfy claims by vulture funds. 72. These proposals would enable States to generate revenue to pay back IMF loans and satisfy the legitimate concerns of creditors. At the same time, they would ensure that States can continue to meet their human rights obligations and fulfil the Sustainable Development Goals. 73. The human rights dimension in lending can no longer be ignored. No international financial institution, no transnational corporation and no trade agreement is above international law. All must respect the overarching international human rights treaty regime. 74. Implementing these recommendations will benefit the entire human family. Only through the concerted efforts of IMF and the World Bank — together with the United Nations — will a more democratic and equitable international order emerge. K. Gender equality 75. It is high time that a woman be elected Secretary-General and that a woman be elected President of the General Assembly. V. Conclusions and recommendations 76. The Independent Expert wishes to reaffirm his commitment to strengthening the special procedures of the Human Rights Council, which have proven their worth over the past decades. As a mandate holder, the Independent Expert is required to be independent, which means always ready to listen to all stakeholders, keeping an open mind, conducting research objectively and without ideological prejudices, consistent with the principle audiatur et altera pars, and impervious to the pressures of political correctness and to self-censor. The essence of an independent expert is not merely his or her expertise — which must be considered a given — but the faculty to think inside and outside the box, while rigorously respecting the terms of reference laid down in the resolution establishing the mandate, and observing the code of conduct. While inevitably belonging to a certain cultural and educational background, the rapporteur must be able to jump over his or her own shadow and get at the facts. 77. Naming and shaming is doomed to failure when the party doing the naming lacks moral authority and has skeletons in the closet. A more promising strategy is to 19