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On April 17, CDP member and Minister of Finance and Public Credit of Colombia, José Antonio Ocampo, participated in the Financing for Development Forum at UN Headquarters, in a panel on policy choices in the context of cascading crises and the need to invest in sustainable development. He noted, among other issues, that monetary policy that is only demand-driven and does not consider supply shocks risks perpetuating or aggravating recessions; and that fiscal policy is currently confronted simultaneously with both the legacy of debt from the pandemic and stronger social and environmental demands on budgets, requiring an increase in fiscal resources, including through tax reforms such as the one adopted by Colombia. He called for a comprehensive international agenda, which would include the capitalization and enhancement of the role of multilateral development banks, tax cooperation, and the issue of ensuring that intellectual property rights facilitate access to technology for health and climate.
The recording of meeting is available on UN WebTV.
