2C: Macroeconomic Policy and Financing for Development

Chair,
As we gather for today’s macroeconomic deliberations, we face an increasingly
challenging global landscape.

We are severely off track to achieve the Sustainable Development Goals. The
financing needs of developing economies are immense and rising.

Many countries now spend more on debt servicing than on education and
healthcare. Additionally, large amounts of funds that could have been invested in
sustainable development are lost to corruption.

As we prepare for the Fourth International Conference on Financing for
Development, we must seize this moment to reinvigorate our collective
commitments. It will require strategic leadership and political will from all
member states.

National resource mobilization, particularly through taxes, remains a
cornerstone of any country’s long-term social progress. Tax revenues must be
directed towards delivering sustainable development and quality services for
citizens. To achieve this, we must intensify our efforts to combat secrecy and
corruption, curb illicit financial flows, and prevent tax evasion. Norway will
continue to invest in, and support, the process towards achieving a strong UN
framework convention on international tax cooperation.
We need to revitalize the aid effectiveness agenda to reduce fragmentation and
improve results. Norway has consistently met its commitment of providing more
than 0.7 percent of GNI as ODA and we will continue to be a reliable partner.

Chair,
There is an urgent need to address systemic issues, inequality, debt crises, and
promote more inclusive and accountable governance as part of a deeper reform
of the global financial architecture.

Inclusive growth is essential if we are to achieve our 2030-ambitions. We cannot
succeed without the economic empowerment of women. Our commitment to
gender equality and empowerment of women must be accelerated and our efforts
strengthened.

Norway will work to ensure that the FfD4 conference helps build trust between
countries, across regions and economic development levels, and importantly
between governments and people. We will do our utmost to ensure an inclusive
process towards agreement on an ambitious FfD-framework that mobilizes
financing for development.

I thank you.