Summary

In the present report, the Independent Expert focuses on international debt architecture reform and human rights by examining the weaknesses and limitations of and attempting to evaluate past and recently proposed reforms. In order to respond to the unfolding debt crisis, it is imperative that any reforms prioritize social justice, equity, and human rights and address structural issues to prevent a vicious circle. The Independent Expert sets a two-fold objective for this reform: first, the debt architecture should have the capacity to respond to debt crises in an effective and timely manner, and second, it should most importantly serve to prevent future crises. Upholding human rights should be an ultimate drive for the reform.