A/HRC/34/57 Report of the Independent Expert on the effects of foreign debt and other related international financial obligations of States on the full enjoyment of all human rights, particularly economic, social and cultural rights Contents Page I. Introduction ................................................................................................................................... 3 II. Overview of debt and labour rights ............................................................................................... 4 A. Financial crises, economic reform and labour standards ...................................................... 4 B. Labour law issues in economic adjustment programmes ...................................................... 5 III. Impact of austerity-related labour law reforms on human rights .................................................. 8 A. Driving States into conflict with their international obligations ........................................... 9 B. Adverse effects of adjustment programmes on labour rights ................................................ 11 C. Impact of labour rights weakening ....................................................................................... 13 IV. Challenging conventional wisdom: economic effects of labour standards .................................... 14 A. Economic effects of labour standards in general .................................................................. 14 B. Economic effects of the deregulation of labour law in the context of economic adjustment ............................................................................................................................. 17 Conclusion .................................................................................................................................... 18 VI. Recommendations ......................................................................................................................... 19 V. 2 A. Ensure respect for labour rights through human rights impact assessments ......................... 19 B. Cushion adverse effects through a robust social security net................................................ 20 C. Ensure consultation with social partners and civil society .................................................... 20 D. Incorporate labour rights in policies of international, regional and national financial institutions.............................................................................................................. 21 E. Ensure policy coherence on labour standards within international organizations ................ 21 F. Strengthen national and international mechanisms providing effective remedies against labour rights violations ............................................................................................. 22