Article 103 of the UN Charter stipulates that the Charter provisions prevail over all other treaties, therefore no treaty or loan agreement can force a country to violate the civil, cultural, economic, political and social rights of its population, nor can a loan agreement negate the sovereignty of a State. Any agreement that would require such a violation of human rights and customary international law is contra bonos mores and hence null and void pursuant to Art. 53 of the Vienna Convention on the Law of Treaties.
A democratic and equitable international order requires a commercial and financial regime that facilitates the realization of all human rights. Inter-governmental organizations must foster and under no conditions hinder the achievement of the plenitude of human rights.
Foreign debt is no excuse to derogate from or violate human rights or to cause retrogression in contravention of articles 2 and 5 of the International Covenant on Economic, Social and Cultural Rights.