A/HRC/RES/34/3
responsibility to choose its means and goals of development and should not be subject to
external specific prescriptions for economic policy;
2.
Recognizes that structural adjustment reform programmes and policy
conditionalities 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;
3.
Also recognizes that debt relief can play a key role in liberating resources that
should be directed towards activities consistent with attaining sustainable growth and
development, including poverty reduction and the achievement of development goals,
including those set out in the 2030 Agenda for Sustainable Development, and therefore that
debt relief measures, where appropriate, should be pursued vigorously and expeditiously,
ensuring that they do not replace alternative sources of financing and that they are
accompanied by an increase in official development assistance;
4.
Urges the international community, including the United Nations system, the
Bretton Woods institutions and the private sector, to take appropriate measures and actions
for the implementation of the pledges, commitments, agreements and decisions of major
United Nations conferences and summits, including the Millennium Summit, the World
Conference on Human Rights, the World Conference against Racism, Racial
Discrimination, Xenophobia and Related Intolerance, the World Conference on Sustainable
Development and the International Conference on Financing for Development, in particular
those relating to the question of the external debt problem of developing countries, in
particular of heavily indebted poor countries, least developed countries and countries with
economies in transition;
5.
Reiterates its request to the United Nations High Commissioner for Human
Rights to pay more attention to the problem of the debt burden of developing countries, in
particular of least developed countries, and especially the social impact of the measures
arising from foreign debt;
6.
Also reiterates that the activities of vulture funds highlight some of the
problems in the global financial system and are indicative of the unjust nature of the current
system, which directly affects the enjoyment of human rights in debtor States, and calls
upon States to consider implementing legal frameworks to curtail predatory vulture fund
activities within their jurisdictions;
7.
Takes note with appreciation of the progress report of the Advisory
Committee on the activities of vulture funds and their impact on human rights,2 and
requests the Committee to present a final report thereon to the Human Rights Council at its
thirty-ninth session for its consideration;
8.
Welcomes the work and contributions 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, and
takes note with appreciation of his latest report submitted to the Human Rights Council; 3
9.
Decides to extend the mandate 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, for a period
of three years, and requests the Independent Expert to pay particular attention to:
2
3
A/HRC/33/54.
A/HRC/34/57 and Add.1.
3