Acknowledging that there is greater acceptance that the increasing debt burden faced by the
most indebted developing countries, in particular the least developed countries, is unsustainable
and constitutes one of the principal obstacles to achieving progress in people-centred sustainable
development and poverty eradication and that, for many developing countries and countries with
economies in transition, excessive debt servicing has severely constrained their capacity to
promote social development and to provide basic services to realize economic, social and
cultural rights,
Expressing its concern that, despite repeated rescheduling of debt, developing countries
continue to pay out more each year than the actual amount they receive in official development
assistance,
Affirming that debt burden further complicates the numerous problems facing developing
countries, contributes to extreme poverty and is an obstacle to sustainable human development,
and is thus a serious impediment to the realization of all human rights,
1.
Welcomes the 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 (A/HRC/11/10);
2.
Takes note with appreciation of the proposed elements for a conceptual framework
for understanding the relationship between foreign debt and human rights, and encourages 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 to continue to develop them with a view to addressing the debt crisis in a just,
equitable and sustainable manner;
3.
Welcomes the areas of focus identified by the independent expert for the
period 2009-2010, in particular the development of the draft general guidelines on foreign debt
and human rights and the issue of illegitimate debt, and, in that regard, calls on the Office of the
United Nations High Commissioner for Human Rights to assist the independent expert in the
organization and holding of regional consultations on these issues, including through the
allocation of sufficient budgetary resources;
4.
Recalls that every State has the primary responsibility to promote the economic,
social and cultural development of its people, and, to that end, has the right and responsibility to
choose its means and goals of development and should not be subject to external specific
prescriptions for economic policy;
5.
Recognizes that structural-adjustment reform programmes limit public expenditure,
impose fixed expenditure ceilings and give inadequate attention to the provision of social
services, and that only a few countries manage to achieve sustainable higher growth under these
programmes;
6.
Affirms that the current global financial and economic crises should not result in a
decrease in debt relief, nor should they be used as an excuse to stop debt relief measures, as that
would have negative implications for the enjoyment of human rights in affected countries;
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