The Minister of Finance, José Antonio Ocampo, participated in a discussion at the Conference of the United Nations Organization (UN) on Trade and Development, in which called for greater tax justice globallyand thus benefit the countries of the region.
(See: Ocampo proposes to create institutions for countries to renegotiate the debt).
The official assured that these countries have been more vulnerable to a series of situations such as a greater impact after the pandemic due to inequalities in access to vaccines, food crisesa strong impact due to the mixture of inflation and interest rates, a flight of capital due to the increase in said rates and also high proportions of debt.
(See: Ocampo’s call in Davos for greater tax justice).
Thus the minister called for greater international cooperation on this front, as well as the creation of mechanisms that facilitate debt renegotiationnot only for low-income countries, but for middle-income countries as well, and called on the United Nations to be at the center of that multilateralism.
(See: The owners of wealth should be more transparent, says Ocampo).
“You have to think about long-term institutions so that countries can renegotiate their debt, it doesn’t have to be the UN as such, I have worked at the IMF, I know that they are long and complex negotiations, it is possible that a new space mechanism is needed, that there have been many throughout history”Ocampo said.
(See: Colombia will promote the construction of an international tax system).
The minister also emphasized the need to improve international tax cooperation, improve the agreement of the inclusive framework of the oecdlimit tax competition and fair taxation of multinationals.
Likewise, he said that it is necessary to continue strengthening the mechanismseitheryes to control the evasion of taxes.
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