A/HRC/38/33
16 years ago, thus assumes surprising importance. The thrust of the paper can be
summarized as follows: the International Covenant on Economic, Social and Cultural
Rights is not applicable to IMF; its provisions have not attained customary international law
status that would make them applicable independently of the Covenant; IMF promotes
economic and social rights indirectly by contributing to conducive economic conditions;
and IMF cannot promote human rights directly without contravening the Articles of
Agreement.31 The Deputy General Counsel of IMF informed the Special Rapporteur that
this position remained unchanged. He reiterated that it was not bound by human rights
norms, “except perhaps in cases of genocide”.
19.
Mr. Gianviti’s paper does not address the question of civil and political rights, but
IMF seems to assume without further explanation that the same analysis would apply to the
two sets of rights. Essentially, the paper is an anachronism and serves IMF badly as a
statement of current policy. It is rooted in the history of the 1950s and 1960s and focused
heavily on the Heavily Indebted Poor Countries Initiative, which was important in 2002.
And it long predates the fundamental changes that are said to have occurred since the global
financial crisis of 2007–2008.
20.
Mr. Gianviti’s appeal to the analogy of European law to strengthen the position of
IMF underscores its anachronistic nature. The paper notes that “the European Community,
not being a party to the European Convention on Human Rights [the Convention for the
Protection of Human Rights and Fundamental Freedoms], is not bound by its provisions”.
But today, the European Union considers itself bound by the provisions of the Convention,
which have the status of general principles of law.
21.
Mr. Gianviti’s focus on whether IMF is formally bound under international law by
the Covenant’s provisions has been much criticized.32 In fact, his paper has very little to say
about the crucial issue of how IMF should, in practice, take account of human rights
considerations in their many diverse manifestations. The consistent practice of IMF has
been to sidestep them and assume they are simply not relevant to macroeconomic policy.33
However, this is not the occasion for a wide-ranging review of such matters, which IMF
itself should undertake.
B.
Grey zones: corruption and military spending
22.
IMF first addressed corruption in depth in a 1997 guidance note on “governance
issues”.34 Increased attention to the issue at IMF and the World Bank at that time reflected a
realization on the part of the proponents of the Washington Consensus that corruption had
undermined the institutions that had been key to successful policy reform and economic
development.35 The note followed the World Bank’s definition of corruption as the “abuse
of public office for private gain”. The IMF approach mainly involved advocacy of “policies
and the development of institutions and administrative systems that aim to eliminate the
opportunity for rent seeking, corruption and fraudulent activity”.36 It would only respond to
specific instances of corruption when there was “reason to believe they could have
significant macroeconomic implications”, such as when “the amounts involved are
31
32
33
34
35
36
For a recent reiteration of position of IMF on human rights, see www.ohchr.org/Documents/Issues/
IEDebt/impactassessments/IMF.pdf.
For important critiques see: Statement by the Committee on Economic, Social and Cultural Rights
(E/C.12/2016/1); M. Darrow, Between Light and Shadow: The World Bank, the International
Monetary Fund and International Human Rights Law (Hart Publishing, 2003); B. Ghazi, The IMF,
the World Bank Group and the Question of Human Rights (Transnational Publishers, 2005); and A.
McBeth, International Economic Actors and Human Rights (Routledge, 2009).
A speechwriter for Ms. Lagarde is reported as saying “[y]ou cannot put human rights in a speech, it’ll
be taken out”. T. Reinold, “The Path of Least Resistance: Mainstreaming ‘Social Issues’ in the
International Monetary Fund”, in Global Society, vol. 31, iss. 3, 2017, p. 401.
IMF, “Guidance Note on the Role of the IMF in Governance Issues” (August 1997).
D. Rodrik, “Goodbye Washington Consensus, Hello Washington Confusion?”, in Journal of
Economic Literature, vol. 44, No. 4 (December 2006), pp. 973–987.
“Guidance Note”, p. 2.
7
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