and presenting to Member States a coherent framework that accounts for climate
finance and ODA.
111. South-South cooperation and the significant efforts of solidarity by emerging
economies is encouraging. More countries will need to commit to increasing their
contribution to international public financing and set targets and timelines to do so.
In turn, South-South technical assistance and the sharing of experiences through
regional fora should be promoted.
112. I also strongly encourage countries to consider using innovative ways to raise
additional resources to fund sustainable development at scale, drawing from a number
of options, including, inter alia, various tax (e.g., financial transaction taxes, carbon tax,
airline ticket levies) and non-tax (e.g., emission allowances) mechanisms.
113. We must strengthen international coordination of macroeconomic policies
of major economies and the management of global liquidity, and consider more
systematic issuance of Special Drawing Rights (SDRs) for continued assistance, and
countercyclical macroeconomic management.
114. We must vigorously implement comprehensive and adequate financial
regulations in all countries, as the risk of another global financial crisis has not been
sufficiently reduced. However, the design of regulations needs to take into account their
impact on financial inclusion and incentives for investment in sustainable development.
115. Effectively addressing illicit flows is urgent. We need more vigorous
implementation of the UN Convention against Corruption, as well as measures to
overcome impediments to the return of stolen assets. Member States should consider
measures to ensure information exchange, judicial cooperation and the establishment of
an intergovernmental committee on tax cooperation, under the auspices of the United
Nations.
116. Let us also enhance international efforts to strengthen arrangements for
transparent, orderly and participatory sovereign debt restructuring. As an