A/HRC/12/WG.2/TF/2 page 20 86. In the upcoming Copenhagen meeting, at which the basis for the mechanism may be revised, the process represents an important moment whereby new elements could be conceived of in a way that contributes more fully to the right to development. 9. Institutions responsible for the Heavily Indebted Poor Countries Initiative and the Multilateral Debt Relief Initiative 87. The task force observes that the poverty afflicting least developed countries is exacerbated by an unsustainable debt burden and that the billions of dollars that those countries pay in their debt-servicing obligations divert a large part of scarce resources from crucial programmes of education, health care and infrastructure, severely limiting the prospects for the realization of the right to development. 88. The task force sees the success of well-conceived debt-relief initiatives as contributing in a significant way to the right to development and is aware that debt cancellation alone will not be enough for affected developing countries to benefit from the right to development. It must be accompanied by enhanced State capacity, improved governance and respect for human rights and promotion of equitable growth and the sharing of the benefits thereof. 89. Debt relief under the Heavily Indebted Poor Countries Initiative and debt cancellation under the Enhanced Heavily Indebted Poor Countries Initiative are highly relevant to the realization of the right to development, particularly in relation to articles 2(3), 4 and 8 of the Declaration on the Right to Development, in that they apply to the forgiven debt to stimulate and improve the infrastructure, health, education, housing and a range of other social purposes. 90. Another noteworthy connection between right to development and debt-relief initiatives is constituted by non-economic challenges, particularly those relating to issues of political instability, armed conflict and governance, all of which are impediments to the right to development. 10. Common Market of the South 91. The task force finds the MERCOSUR development agenda to be particularly relevant to the right to development, because it combines the goals of trade liberalization, economic cooperation and integration with objectives related to strengthening democracy and human rights in the region. 92. Similarly, the task force welcomes the MERCOSUR human rights agenda and its emphasis on the importance of promoting and guaranteeing economic, social and cultural rights, including the creation of indicators for their monitoring and assessment. 93. The above preliminary observations underscore the utility of establishing a dialogue with MERCOSUR and following up on the positive response to the letter sent in response to the request of the Working Group (A/HRC/9/17, para. 43 (c)).