<html>
<head>
<meta http-equiv="Content-Type" content="text/html; charset=Windows-1252">
<style type="text/css" style="display:none;"><!-- P {margin-top:0;margin-bottom:0;} --></style>
</head>
<body dir="ltr">
<div id="divtagdefaultwrapper" style="font-size:12pt;color:#000000;background-color:#FFFFFF;font-family:Calibri,Arial,Helvetica,sans-serif;">
<p><br>
</p>
<div id="Signature">
<div id="divtagdefaultwrapper" style="font-size:12pt; background-color:rgb(255,255,255); font-family:Calibri,Arial,Helvetica,sans-serif">
<div tabindex="0" style="font-family:wf_segoe-ui_normal,"Segoe UI","Segoe WP",Tahoma,Arial,sans-serif; font-size:medium">
<div class="_rp_w4" tabindex="-1" style="">
<div class="_rp_h4 ms-border-color-neutralLight ShowReferenceAttachmentsLinks _rp_i4" tabindex="-1" style="">
<div class="_rp_t4 _rp_s4" style="">
<div style="">
<div class="_rp_k4" id="Item.MessagePartBody" style="">
<div class="_rp_l4 ms-font-weight-regular ms-font-color-neutralDark rpHighlightAllClass rpHighlightBodyClass" id="Item.MessageUniqueBody" tabindex="0" style="outline:none">
<span lang="en-NZ" style="">
<div style="color:rgb(0,0,0); margin:0px">FYI.</div>
<div style="color:rgb(0,0,0); margin:0px"><br>
</div>
<div style="color:rgb(0,0,0); margin:0px">Solo</div>
<div style="color:rgb(0,0,0); margin:0px">PDF</div>
</span></div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
<div style="color: rgb(0, 0, 0);">
<div>
<div style="">
<p style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;">
</p>
<p style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;">
<b>THE IMPACT OF AUSTERITY ON WOMEN</b> 7 Pages - 2018</p>
<p style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;">
<a href="https://www.ohchr.org/Documents/Issues/Development/IEDebt/WomenAusterity/GenderDevelopmentNetwork.pdf" style="color: rgb(5, 99, 193); text-decoration: underline;"><span style="color:blue">https://www.ohchr.org/Documents/Issues/Development/IEDebt/WomenAusterity/GenderDevelopmentNetwork.pdf</span></a></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;">
</p>
<p style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;">
<b><span style="color:#C00000">ATTACHED</span></b> is the Report: <b>GUIDING PRINCIPLES ON THE HUMAN RIGHTS IMPACT OF ECONOMIC REFORMS</b></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;">
<b>
</b></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;">
<b> </b></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;">
<a href="https://www.ohchr.org/EN/NewsEvents/Pages/DisplayNews.aspx?NewsID=24967&LangID=E" style="color: rgb(5, 99, 193); text-decoration: underline;"><span style="color:blue">https://www.ohchr.org/EN/NewsEvents/Pages/DisplayNews.aspx?NewsID=24967&LangID=E</span></a></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;">
</p>
<p style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;">
<span style="font-size:14.0pt; font-family:"Verdana",sans-serif; color:black; background:white">Financial Institutions Complicit in Impact of Austerity Measures on Human Rights, Says UN Expert</span><span style="font-size:11.5pt; font-family:"Verdana",sans-serif; color:black; background:white"> </span><span style="font-size:11.5pt; font-family:"Verdana",sans-serif; color:black"><br>
<br>
<span style="background:white"><a href="https://www.ohchr.org/SP/NewsEvents/Pages/DisplayNews.aspx?NewsID=24967&LangID=S" style="color: rgb(5, 99, 193); text-decoration: underline;"><span style="color:#663399">Spanish</span></a></span></span><span style="font-size:12.0pt; font-family:"Times New Roman",serif"></span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;">
<span style="font-size:11.5pt; font-family:"Verdana",sans-serif; color:black; background:white">GENEVA<b> </b>(10 September 2019) Austerity measures imposed by international financial institutions such as the IMF, regularly cause violations of human rights,
says UN Independent Expert on foreign debt and human rights, Juan Pablo Bohoslavsky</span><a name="_Hlk18658761"><span style="font-size:11.5pt; font-family:"Verdana",sans-serif; color:blue; background:white"> in a </span></a><span style=""></span><span style="font-size:11.5pt; font-family:"Verdana",sans-serif; color:black; background:white"><a href="https://undocs.org/A/74/178" style="color: rgb(5, 99, 193); text-decoration: underline;"><span style="color:#663399">report </span></a>to
be presented to the UN General Assembly in October.</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;">
<span style="font-size:11.5pt; font-family:"Verdana",sans-serif; color:black; background:white">Even though austerity can be a useful tool of administration against the squandering of resources,
</span><span style="font-size:11.5pt; font-family:"Verdana",sans-serif; color:#C00000; background:white">it is essential to keep in mind that austerity impacts different social groups in very different ways, especially the most vulnerable and marginalised,</span><span style="font-size:11.5pt; font-family:"Verdana",sans-serif; color:black; background:white">
says Bohoslavsky.</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;">
<span style="font-size:11.5pt; font-family:"Verdana",sans-serif; color:black; background:white">Although States are the main guarantors of human rights, international financial institutions can also be held responsible if they are complicit in prescribing
policies with probable negative impacts on human rights, the expert said.</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;">
<span style="font-size:11.5pt; font-family:"Verdana",sans-serif; color:black; background:white">If international financial institutions can be made responsible for the preventable damage caused by a dam built with their funding, why should they not be responsible
for the preventable human rights harm to people caused by regressive economic policies?</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;">
<span style="font-size:11.5pt; font-family:"Verdana",sans-serif; color:black; background:white">Bohoslavsky said it was worth noting that the austerity measures promoted by the IMF and other international financial institutions were not for everyone, as they
did not restrict payment of public debt to national and international foreign creditors. On the contrary, the restrictive monetary policies increase interest payments. It is austerity for the poor, not for creditors, he highlighted.</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;">
<span style="font-size:11.5pt; font-family:"Verdana",sans-serif; color:black; background:white">It isnt surprising that the combination of economic deceleration and changes in fiscal policy negatively impact a wide range of human rights. Unfortunately, austerity
measures often lead to reduced food subsidies, and cuts in essential public services. They have a negative impact on salaries and on social investment like housing, infrastructure, health and education, he says.</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;">
<span style="font-size:11.5pt; font-family:"Verdana",sans-serif; color:black; background:white">From an economic viewpoint, there is no evidence that fiscal consolidation contributes to recovery. But there is much clearer evidence of the negative impact of
structural adjustment programmes over economic growth, jobs, debt sustainability and, ultimately, equality, Bohoslavsky says.</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;">
<span style="font-size:11.5pt; font-family:"Verdana",sans-serif; color:black; background:white">The Independent Expert extensively argues in his report that there is a solid legal basis on which to say that, in principle, austerity policies during times of
recession are incompatible with obligations to guarantee the enjoyment of human rights.</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;">
<span style="font-size:11.5pt; font-family:"Verdana",sans-serif; color:#C00000; background:white"><a href="https://www.undocs.org/A/70/275" style="color: rgb(5, 99, 193); text-decoration: underline;"><span style="color:#C00000">International human rights law</span></a> prevents
countries from being forced to fully repay their debts at the expense of increases in child mortality, unemployment or malnutrition.</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;">
<span style="font-size:11.5pt; font-family:"Verdana",sans-serif; color:black; background:white">Bohoslavsky says the international financial institutions could be considered responsible for complicity with economic reforms that violate human rights. Legal responsibility
for such complicity can lead to human rights obligations for these institutions such as cessation, guarantees of non-repetition and reparations.</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;">
<span style="font-size:11.5pt; font-family:"Verdana",sans-serif; color:black; background:white">The Human Rights Council, in March 2019, voted on the <a href="https://ap.ohchr.org/documents/dpage_e.aspx?si=A/HRC/40/57" style="color: rgb(5, 99, 193); text-decoration: underline;"><span style="color:#663399">Guiding
Principles on Human rights impact: assessment of economic reform policies.</span></a> Section V of these principles explicitly addresses the role and responsibilities of international financial institutions. This instrument can serve as a guide for present
and future processes of economic reform, Bohoslavsky said.</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;">
<span style="font-size:11.5pt; font-family:"Verdana",sans-serif; color:black; background:white">####</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;">
<b><i><span style="font-size:11.5pt; font-family:"Verdana",sans-serif; color:black; background:white">Mr. Juan Pablo Bohoslavsky</span></i></b><i><span style="font-size:11.5pt; font-family:"Verdana",sans-serif; color:black; background:white"> (Argentina) was
appointed as </span></i><span style="font-size:11.5pt; font-family:"Verdana",sans-serif; color:black; background:white"><a href="https://nam12.safelinks.protection.outlook.com/?url=https://www.ohchr.org/EN/Issues/Development/IEDebt/Pages/IEDebtIndex.aspx&data=02%7c01%7c%7cdcf965c169174d3022d008d72c774d66%7c84df9e7fe9f640afb435aaaaaaaaaaaa%7c1%7c0%7c637026763250616151&sdata=88efgH9aBFiQrY3ZB2qoceJnHbf4SnysPY7a39w0Bh8%3D&reserved=0" target="_blank" title="Protected by Outlook: https://www.ohchr.org/EN/Issues/Development/IEDebt/Pages/IEDebtIndex.aspx. Click or tap to follow the link." style="color: rgb(5, 99, 193); text-decoration: underline;"><i><span style="color:#663399; text-decoration:none">Independent
Expert on the effects of foreign debt and human rights</span></i></a><i> by the United Nations Human Rights Council on 8 May 2014. He has previously worked as a Sovereign Debt Expert for the United Nations Conference on Trade and Development (UNCTAD) where
he coordinated an Expert Group on Responsible Sovereign Lending and Borrowing. He is independent of any government or organization and serves in his individual capacity.</i></span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;">
<i><span style="font-size:11.5pt; font-family:"Verdana",sans-serif; color:black; background:white">The Independent Experts are part of what is known as the </span></i><span style="font-size:11.5pt; font-family:"Verdana",sans-serif; color:black; background:white"><a href="https://nam12.safelinks.protection.outlook.com/?url=https://www.ohchr.org/EN/HRBodies/SP/Pages/Welcomepage.aspx&data=02%7c01%7c%7cdcf965c169174d3022d008d72c774d66%7c84df9e7fe9f640afb435aaaaaaaaaaaa%7c1%7c0%7c637026763250616151&sdata=nfJzqi370p7m3MC6jXesMUKANwZwAHTU/qKEuwKqIGQ%3D&reserved=0" target="_blank" title="Protected by Outlook: https://www.ohchr.org/EN/HRBodies/SP/Pages/Welcomepage.aspx. Click or tap to follow the link." style="color: rgb(5, 99, 193); text-decoration: underline;"><i><span style="color:#663399; text-decoration:none">Special
Procedures</span></i></a><i> of the Human Rights Council. Special Procedures, the largest body of independent experts in the UN Human Rights system, is the general name of the Councils independent fact-finding and monitoring mechanisms that address either
specific country situations or thematic issues in all parts of the world. Special Procedures experts work on a voluntary basis; they are not UN staff and do not receive a salary for their work. They are independent from any government or organisation and serve
in their individual capacity.</i></span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;">
<i><span style="font-size:11.5pt; font-family:"Verdana",sans-serif; color:black; background:white">_______________________________</span></i><span style="font-size:11.5pt; font-family:"Verdana",sans-serif; color:black; background:white"></span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;">
</p>
</div>
</div>
</div>
</div>
</body>
</html>