A/70/275 tackling the facilitating environment of illicit financial flows in recipient countries, as well as on secrecy jurisdictions and safe havens, remained relatively weak. Furthermore, he had also hoped for a clearer cut, time -bound and measurable commitment to reduce the size of illicit financial flows by 2030. 29. The Independent Expert welcomes the calls incorporated in the Addis Ababa Action Agenda for debt restructurings to be timely, orderly, effective, fair and negotiated in good faith, with the objective of restoring public debt sustainability and preserving access to finance under favourable conditions so that countr ies can achieve sustainable development. He voiced his disappointment, however, that the chapter on sovereign debt omits any reference to human rights, most notably the guiding principles on foreign debt and human rights. 15 F. Multilateral legal framework for debt restructuring processes 30. On 5 September 2014, the Independent Expert sent a letter to the Chairman of the Group of 77 and China 16 expressing his views on an initiative by the General Assembly to establish an international legal regulatory framework for sovereign debt restructuring processes. In his letter, he supported the idea that the United Nations system is the correct forum to discuss how to fill the international legal void with regard to sovereign debt restructuring. He also explained the legal need to minimize vulture fund litigation and highlighted relevant international human rights standards in the context of debt restructurings. 31. The Independent Expert also recalled that the issues of foreign debt, debt relief, debt restructuring and excessive demands by so-called “vulture funds” have been covered by his mandate for many years and have been the subject of resolutions of the Human Rights Council, including resolutions 20/10, 23/11 and 27/30. 32. On 26 January 2015, the Independent Expert provided a written submission 17 to the Ad Hoc Committee on Sovereign Debt Restructuring Processes established by the General Assembly in its resolution 69/247. The Committee is tasked with elaborating a multilateral legal framework for sovereign debt restructuring processes through a series of intergovernmental negotiations. In his submission, the Independent Expert discussed the human rights benchmarks States should consider in drafting the multilateral legal framework, and he proposed the follow ing six human rights benchmarks: (a) The new legal framework should include an explicit reference to debt restructuring and the need to make it compatible with existing human rights obligations and standards; (b) Risk assessments and debt sustainability analysis carried out prior to a debt restructuring should include provisions to ensure human rights impact assessments; __________________ 15 16 17 15-12541 A/HRC/20/23, annex. Available from http://www.ohchr.org/Documents/Issues/IEDebt/letter_Chairman_of_the_ Group_G77.pdf. See SPB/SHD/GT/ff. “Towards a multilateral legal framework for debt restructuring: Six human rights benchmarks States should consider”, available from http://www.ohchr. org/Documents/Issues/Development/ IEDebt/DebtRestructuring.pdf . 9/18