A/HRC/7/9 page 2 Summary In the present report, the independent expert on the effects of economic reform policies and foreign debt on the full enjoyment of all human rights particularly economic, social and cultural rights, Bernards Mudho, describes his recent activities, focusing on the challenges met in the preparation of the general guidelines requested by the Commission on Human Rights in its resolutions 2004/18 and 2005/19, to be eventually implemented by States and private and financial institutions in the decision-making and execution of debt repayments and structural reform programmes, including those arising from foreign debt relief. The aim of the guidelines is to guarantee that compliance with the commitments arising from foreign debt does not undermine the capacity of States to fulfil their obligations for the full realization of fundamental human rights. In the introduction of the report, the independent expert briefly recalls the activities undertaken in 2007 in relation to the preparation of the draft general guidelines, such as the organization of an expert consultation, held on 9 and 10 July in Geneva, as well as the holding of annual consultations with the World Bank and the International Monetary Fund on 28 and 29 November in Washington, D.C. Mention is also made of his country mission to Burkina Faso and the report he submitted to the General Assembly and the annual report presented to the Human Rights Council in 2007. The first part of the report describes what the key principles of the draft guidelines should be. In view of the disparities in conditions for each country and the difficulties in determining concrete indicators reflecting the realization of economic, social and cultural rights, the guidelines should be designed to encourage countries to elaborate flexible context-specific standards, benchmarks and indicators based on the core content or minimum human rights standards. In addition, the concept and definition of debt sustainability play a major role in the discussions on the effects of foreign debt on human rights. The independent expert describes some of the proposed debt sustainability frameworks and briefly addresses their strengths and weaknesses, giving some orientations on the way forward. The main challenge identified in the report is the definition of the responsibility and obligations of stakeholders at the national and international levels in the design of a set of analytical tools. Such tools need to combine financial parameters, measurable human rights needs and poverty reduction objectives, with a focus on the Millennium Development Goals. Finally, the independent expert provides a summary of the latest developments concerning the mandate and formulates some recommendations for its future. Economic reform and foreign debt measures have gradually become components of poverty reduction strategies. This situation raises a need for a new and multidimensional approach. He therefore recommends that the mandate be refocused on the subject of human rights and public finance. He also recommends that the new mandate-holder work in close collaboration with the Working Group on the Right to Development and its high-level task force in order to ensure synergy of their actions.