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A/70/275* United Nations General Assembly Distr.: General 4 August 2015 Original: English Seventieth session Item 73 (b) of the provisional agenda** Promotion and protection of human rights: human rights questions, including alternative approaches for improving the effective enjoyment of human rights and fundamental freedoms 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 Note by the Secretary-General The Secretary-General has the honour to transmit to the members of the General Assembly 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, Juan Pablo Bohoslavsky, submitted pursuant to Human Rights Council resolution 25/16. * Reissued for technical reasons on 2 December 2015. ** A/70/150. 15-12541* (E) 031215 *1512541*

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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

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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

Date: Aug 4, 2015

Summary: The Independent Expert presents a report on the activities undertaken from August 2014 to July 2015. This report recognizes that illicit financial flows represent a major drain on the resources of developing countries. Also, vulture fund litigation may prevent indebted countries from using resources freed up by debt relief for their development and poverty reduction programmes. The increasing recognition of debt sustainability as a principle of public international law reveals and synthesizes a gradual change towards a debt paradigm more respectful of the importance of human rights. There is a growing set of international standards suggesting that lenders should consider the consequences of their financial decisions in order to not affect the obligation of States to progressively achieve economic, social and cultural rights, using their maximum available resources.

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