Ladies and gentlemen,
We were all hit by the COVID-19 crisis, but the socioeconomic consequences have affected countries and individuals differently.
Inequality has increased both within and between countries.
Russia’s illegal attack on Ukraine has triggered turmoil in the global financial markets. Food and energy prices have soared.
Many countries are facing a difficult balancing act between the need to increase public revenues and the need to reactivate the economy. Fiscal space is shrinking with an increased debt burden. That means less money for education, health and other important public services.
Financing for development is under pressure. The attainment of the Sustainable Development Goals by 2030 seems to be slipping from our reach
We urgently need to increase our efforts to solve the climate and inequality crises.
A new global financing for development conference could be a milestone for renewed commitment and actions. This would, however, require proper preparations and a bold political vision.
Landies and gentlemen,
Domestic revenue mobilization is the pillar of SDG funding. Official development aid must underpin national efforts. Norway is among the top contributors of development aid measured in the share of GNI.
Financial accountability, transparency and integrity are more important than ever, at all levels, from individuals to multilateral corporations and government. National efforts should be supported by an enabling multilateral framework. But this is not the case when we allow secrecy and structures that facilitate illicit financial flows to siphon resources from developing countries.
Financial secrecy and tax evasion lock people and countries in poverty. Not only does it severely impact on institutions and governance, it ultimately erodes trust in democracy.
Civil society and media have important roles to play, to monitor that rules and regulations are followed, to push for better rules and regulations and to promote responsibility and accountability.
Crisis management seems to be the new normal. But to solve and prevent crises we need a long-term perspective. In an interconnected world, the only way to do that is by working together and strengthening the multilateral framework.