A/HRC/13/51 would once again become available to the country in question as a result of the restructuring, which could be one of the most important elements of international financial architecture reform. 47. Mr. Khor also emphasized the need for ensuring policy space for developing countries to take economic recovery measures, follow long-term development strategies, meet the Millennium Development Goals and address human rights obligations. He enumerated the constraints on policy space, such as the loan conditionalities of international financial institutions and provisions of free trade agreements, that adversely affect developing economies through obligations to further liberalize trade and capital flows. These agreements should be revisited to reflect the calls in the current crisis for regulation and accountability in the financial system. Mr. Khor reiterated the need for reform of the global financial system, including the governance and policies of international financial institutions, which should incorporate inclusive mechanisms, such as the General Assembly and other United Nations organs, so that all stakeholders, especially developing countries, could be involved in the decision-making process. 48. With regard to food security, Mr. Khor advocated the retention of sizeable domestic food production by States to ensure self-sufficiency in times of crisis and thus avoid dependency on imports. Food production in developing countries had been adversely affected by conditionalities imposed by international financial institutions and subsidies in developed countries. The allocation of funds to agricultural development in Africa would therefore not create substantial change unless coupled with revised trade policies in developed countries. 49. An interactive debate followed the above presentations. Statements were made by the representatives of France, Guyana, Mexico, Slovenia, Sweden, CIVICUS and the World Citizen Foundation, as well as by the independent expert on the effects of foreign debt and other related international financial obligations of States on the full enjoyment of human rights, particularly economic, social and cultural rights, Cephas Lumina. 50. Speakers acknowledged that countercyclical policies were a tool for dealing with the short-term consequences of crises, whereas long-term solutions must include comprehensive policies that link the areas of trade, environment, macroeconomic policies and human rights. States were urged to fulfil their ODA commitments and to ensure that responses to financial pressures did not diminish human rights protection, especially with regard to marginalized and vulnerable groups, as well as women and children. 51. Many speakers supported the need to recognize the relationship between trade and human rights and to establish a more constructive dialogue on these two areas among respective international organizations, including an analysis of the impact of trade on the enjoyment and realization of human rights. The human rights community was also encouraged to examine the implications of the Doha round of trade negotiations on the enjoyment of human rights by all. In this respect, attention was drawn to the danger of climate change-based trade protectionism, especially towards imports from developing countries. 52. Some speakers cautioned that, although a debt moratorium would provide a shortterm solution, in the long term, it could lead to more borrowing to repay debt or the accumulation of interest payments, as experienced in the past. Instead, debt forgiveness was advocated as an alternative recommendation, recalling the bailouts of transnational corporations during the economic and financial crisis. Furthermore, States participating in international financial institutions were urged to have their actions take into account the enjoyment of economic, social and cultural rights. GE.09-17229 11