The passage of the Universal Declaration of Human Rights (UDHR) in 1948 was an
important step toward recognition by the international community that states had a
responsibility to ensure the human rights of their citizens. Article 22 in the UDHR
specifically notes that states have a responsibility through their “organization and
resources” to ensure “the economic, social and cultural rights” of its members.
passage of the International Covenant on Economic, Social and Cultural Rights
(ICESCR) furthered the emphasis on these types of rights (including work, food, housing,
health, and education) as a necessary inclusion of a discussion on human rights.
Therefore, while the concept and the definition of human rights is broad and
encompassing, there has been a general recognition by the international community that
economic rights including the areas of rights listed in the ICESCR are human rights. The
International Financial Institutions (IFIs), on the other hand, have been slower to embrace
these principles as human rights issues and have focused more on the economic growth of
states, without the necessary attention to the economic progress of the citizens in those
states. More recently, their focus on issues of poverty has increased as a result of greater
attention paid to the economic effects of globalization for at least two reasons.
First, the processes of globalization, including the increased trade and integration
of markets has affected the living standards of the population which then necessarily
affects the macroeconomic position of the states. Second, one of the strongest criticisms
of the financial institutions, which are usually centered around the International Monetary
Fund (IMF) and the World Bank, are that through their economic policies that they have
actually worsened the poverty situation for many people in the developing countries, if
not the world.
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Convention