Condicionalidad y deuda soberana: un panorama general de sus implicancias en los derechos humanos

Abstract

International financial institutions (IFIs) typically condition the provision of loans, grants, and debt relief on the recipient country’s implementation of policy reforms. Common measures that governments are required to implement include privatization of public assets, public spending cuts (or ‘austerity’), and structural reforms (such as changes to labour market reforms, trade liberalisation, and legal reform). These so-called ‘conditionalities’ afford IFIs substantial policy influence on governments throughout the world, thereby reducing national policy space and undermining national development agendas. These measures also have implications for the enjoyment of human rights. This article provides an overview of IFI policies, as well as their impact on the ability of the implementing governments to provide basic public services necessary for the realisation of human rights, including health, labour, and civil and political rights. The article begins with an examination of the mandates of the IMF and World Bank. It then discusses the lending practices of the two institutions and reviews existing debates around the effects of conditionalities on human rights. Finally, the article offers suggestions for reform of IMF and World Bank lending practices in ways that ensure that they respect human rights.