Deadline extended! Questionnaire - "Impact of economic and financial policies, especially those of the World Bank and the International Monetary Fund, on a democratic and equitable international order" - Deadline 20 April 2017

I have been writing about the governance effects of international financial institutions.  It has become increasingly useful to deploy markets, and finance mechanisms, as a means for disciplining and developing both governance capabilities and the framework for managing social, political and economic space (e.g., HERE, HERE, HERE,  HERE, HERE, HERE, and HERE). 

It comes as no surprise, then, for U.N. Independent Expert on the promotion of a democratic and equitable international order, Mr. Alfred de Zayas, to focus on the role of international financial institutions in the promotion of the objectives specified in his mandate. He has written on the need to protect whistlblowers (e.g., here) and on issues of social justice (e.g., here).  

Here, then, one peeks at an implicit recognition that 

(1) lending has a political dimension; 

(2) that law may be privatized through the conditionality measures in sovereign lending instruments;

(3) that international law may have something to say about the structures and constraints of such conditionality beyond the limits or practices of domestic law; 

(4) that states do cede sovereign authority when they subject themselves to international lending and financial markets; 

(5) that financial institutions may have a duty or responsibility to ensure the security of their lending through their monitoring and strengthening of the governance capacity of borrowers; and 

(6) that in that context financial institutions may have both a duty to protect and a responsibility to respect human rights unconstrained by the peculiarities of domestic law to the extent that such legal structures impede the realization of international standards. 

For those interested, this provides an opportunity to aid the Independent Expert in his iown query.

The call for inputs follows.




Deadline extended! Questionnaire - "Impact of economic and financial policies, especially those of the World Bank and the International Monetary Fund, on a democratic and equitable international order" - Deadline 20 April 2017

 

Questionnaire from the UN Independent Expert on the promotion of a 

democratic and equitable international order on the impact of economic and 

financial policies, especially those of the World Bank and the International 

Monetary Fund, on a democratic and equitable international order

 January 2017

In his upcoming report to the Human Rights Council to be presented in September 2017, the Independent Expert on the promotion of a democratic and equitable international order will “continue his research into the impact of the financial and economic policies pursued by international organizations and other institutions, in particular the World Bank and the International Monetary Fund, on a democratic and equitable international order”, as per Human Rights Council’s resolution 33/3.

The below questionnaire aims to assist the Independent Expert in his research, and responses will inform his upcoming report. Responses in bullet-points, as well as reference to specific publications, are welcome.

Kindly send your responses to ie-internationalorder@ohchr.org by 24 March 2017.

1. In your view, how do the World Bank and the International Monetary Fund promote the right to food, water, health and a safe and clean environment? What should the Bank and the IMF do to better protect and promote human rights?

2. What is your assessment of the World Bank’s new Environmental and Social Framework for the promotion and protection of protecting human rights?

3. What type of accountability exists to remedy any adverse effects on human rights resulting from projects or policies funded or promoted by the World Bank/IMF? What recourse or remedy is provided for victims of alleged human rights violations? Please provide examples of best practices and/or persistent obstacles in this regard.

4. In your experience, are human rights, health and environment impact assessments conducted by the World Bank/IMF? Are ex ante impact assessments conducted ahead of loan agreements or development projects? Are ex post monitoring carried out? Please provide examples.

5. In your experience, how does the World Bank/IMF ensure the participation and consultation with all stakeholders, including affected communities, in relation to new loan or development project? Please provide examples.

6. What is your assessment of public-private partnership performance in human rights terms? Have such partnerships allowed for greater protection and promotion of human rights? Do you have examples of good practice and/or persistent obstacles when it comes to the relationship between the WB, IMF and governments that harbour tax havens and enterprises that use secrecy jurisdictions to avoid taxes?

7. What is your assessment of the World Bank/IMF collaboration with the United Nations Organization, in particular with UNCTAD, and with other international financial institutions, including the BRICS new development bank (NDB) and the Asian Infrastructure Investment Bank (AIIB)?

8. What are your main recommendations to make the World Bank/ IMF work for human rights?