Statement by the Secretary General: Closing session of the Summit for a New Global Financing Pact
· Mathias Cormann, Secretary-General of the OECD (International)
Summary written by Dark Majestic in its own words · topics: climate, energy and nature, public finances and debt, development and emerging economies, technology, ai and cyber risk
MC · Mathias Cormann Wiki · OECD WikiStatement by the Secretary General: Closing session of the Summit for a New Global Financing PactContextOECD Secretary-General Mathias Cormann provided a statement at the closing session of the Summit for a New Global Financing Pact.
Why it mattersCormann backs aid levels and the global tax deal for developing countries.
Problems raised- The global financial architecture needs strengthening.
- Developing countries need more external finance.
- International tax rules are unfair in a digitalised economy.
Solutions proposed- Maintain official development assistance at high levels.
- Support developing countries in implementing the two-pillar tax reform.
- Develop guidance for financing nature-based solutions.
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