A/HRC/31/61 32. While States have assumed binding human rights obligations going beyond their commitments to implement the Sustainable Development Goals, the Agenda 2030 for Sustainable Development is grounded in the Universal Declaration of Human Rights and international human rights treaties.29 In some respects, the Agenda 2030 converges with obligations of States to progressively realize various economic, social and cultural rights. For example, the commitments to eradicate poverty (Goal 1), to end hunger and achieve food security and improved nutrition (Goal 2), to ensure healthy lives (Goal 3), to provide inclusive and equitable education (Goal 4), to ensure the availability of water and sanitation for all (Goal 6) and to promote full and productive employment and decent work for all (Goal 8) can contribute to the realization of the rights contained in the International Covenant on Economic, Social and Cultural Rights and other human rights treaties. Curbing illicit financial flows will also, as discussed above, help to reduce inequality within and between nations (Goal 10) and make a contribution to combating substantive discrimination. Curtailing illicit financial flows should therefore be seen not only as a target in its own right, but also as an important means for making progress on many of the other targets in the Agenda 2030. 33. A recent study by Global Financial Integrity has compared illicit financial outflows from the world’s poorest economies to numerous traditional development indicators, including GDP, ODA and FDI, public expenditure on health and education and total tax revenues. The results of the study highlight the strong correlation between illicit financial flows and lower levels of development. For example, Global Financial Integrity estimates that 31 developing countries had illicit financial outflows greater than their public spending on health during the period 2008-2012 and, in 35 developing nations, illicit financial outflows outnumbered public spending on education during the same period. In 12 countries, illicit outflows were estimated to surpass total tax revenues. Finally, for 20 developing nations, illicit outflows outnumbered the combined financial inflow in the form of ODA and FDI during that period.30 Such figures suggest that achieving the Sustainable Development Goals will be an immense uphill battle in the face of illicit financial flows. 34. The study by Global Financial Integrity also found that illicit financial flows correlate with lower levels of human development as measured by the Human Development Index, and with higher levels of poverty and economic inequality. 31 35. Illicit financial flows will also pose a serious challenge to meeting target 17.4 of the Sustainable Development Goals, on debt sustainability. They can contribute to the build-up of debt crises since, in the face of missing revenues, some Governments must resort to external borrowing. Reducing illicit financial flows should therefore be seen as an important element in the fight against unsustainable debt. However, debt crises can aggravate illicit financial flows since high debt servicing expenses will reduce the amount of public resources available for other purposes, including combatting illicit financial flows. Progress made toward target 17.4 could therefore have positive impacts on the achievement of target 16.4, on illicit financial flows. 36. Finally, given that one of their most immediate consequences is the loss of tax revenue, illicit financial flows, and especially tax-related illicit financial flows, are clearly contrary to target 17.1 of the Sustainable Development Goals, on strengthening domestic resource mobilization, including through capacity-building for developing countries. In order to genuinely strengthen domestic resource mobilization, it will be necessary not only 29 30 31 10 See General Assembly resolution 70/1, para. 10. See J. Spanjers and H. Foss, “Illicit financial flows and development indices: 2008-2012”, Global Financial Integrity, pp. 30-33 (2015). Ibid, pp. 18-22.