But mobilizing financial resources is not limited to increased taxation revenues; human rights recognize that financial resource mobilization is influenced by expenditure, taxation and other revenue raising measures, foreign aid grants, debt and deficit financing, monetary policy and financial regulation. (Balakrishnan et. al. 201 1) Mobilizing the maximum of available resources can entail resort to public borrowing, which can support or obstruct the progressive realization of human rights. A recent study on the effect of public debt on respect for human rights, for instance, found: "The overall level of indebtedness is robustly related to human rights abuses." (Ericksen and de Soysa, 2009) The study stressed: "Total debt to GDP decreases physical integrity rights. ... Holding all variables at their mean, raising debt by the highest value would decrease respect for (human rights)." So, "in deciding whether borrowing can contribute to or hinder the realization of human rights, it is critical to consider whether the government is using the debt to finance the creation of assets that will help in the realization of economic and social rights. ... Two key questions then arise when considering whether borrowing might positively or negatively atfect human rights. First, to what extent are assets built through borrowing contributing to human rights? ... Second, will those assets generate income through economic activities which directly or indirectly re-pay the debt, or at least the interest payments?" (Balakrishnan et. al,, 2011) When spending public money, human rights mandate that priority be given to those allocations that meet human rights keaty obligations and that support the realization of human rights before funding other activities. (UN OHCHR, 2005) Avoidance of retrogressive measures The obligation to mobilize and devote the maximum of available finances is accompanied by the principle of non-retrogression-the avoidance of any deliberate act or omission that reduces the enjoyment of economic, social and cultural rights whether regression was an unintended or wanted consequence. A retrogressive measure is "one that directly or indirectly leads to backward steps being taken with respect to the rights recognized in the flnternational Covenant on Economic, Social and Cultural Rightsl." (UN OHCHR, 2005) A reduction in public spending on maternal health care that results in considerable increases in maternal and child mortality is an example of a retrogressive measure. (UN OHCHR, 2005) A retrogressive measure such as the reduction or diversion of specific public expenditures that results in the non-enioyment of economic, social and cultural rights in the absence of accompanying compensatory measures constitutes a violation of human rights. (Maastricht Guidelines, 1997) The principle of non-retrogression is a key principle in public finance, which by its very nature deals with hard policy choices: between, for example, the positive impact of price stability and the positive impact of increased public expenditure, or between competing claims on public resources, or between the different kinds of taxes to levy. Where several options are available, HRBA to public finance urges the adoption of the option that least restricts human rights. (UN CESCR, 2007) "While human rights do not dictate exactly what policy and budgetary measures States should pursue, such measures must comply with States' international human rights obligations. Human rights are not a policy option, dispensable during times of economic hardship." (Carmona, 2011) The country's maximum available financial resources may not be sufficient to realize all human rights at a given time. lt might therefore become necessary to prioritize the realization of a 29