Secretary-General, Welcoming Launch of International Financial Accountability Panel’s Final Report, Says Economies Must Be Fair, Inclusive

Following is UN Secretary-General António Guterres’ message for the launch of the final report of the High-level Panel on International Financial Accountability, Transparency and Integrity for Achieving the 2030 Agenda, today:

The COVID-19 pandemic has revealed our global fragility.  But fragility extends far beyond health systems.  It affects a great many of our global institutions and multilateral efforts.  We see it in our inability to respond effectively to the climate crisis. 

It is also apparent in the burgeoning inequality that defines our times.  More than 70 per cent of the world’s people are living with rising income and wealth inequality.  The 26 richest people in the world hold as much wealth as half the global population.  And they got dramatically richer during the pandemic while the number of extreme poor rose.

This is no longer tolerable.  Economies and financial systems must serve people, sustain the planet and strengthen social bonds.  They must be founded on sustainability and inclusivity.  To do that, they also must be fair and characterized by integrity.

This is why I warmly welcome the report of the High-level Panel on International Financial Accountability, Transparency and Integrity for Achieving the 2030 Agenda.  The Panel has delved into how corruption is criminal, how it circumvents rules and how current international tax norms deprive Governments of needed revenue.  The Panel has also provided a vision of a better system that works for all — as well as recommendations for building more robust systems for accountability, transparency and integrity.

Raising more resources and restoring trust in national and international institutions are crucial for recovering from the pandemic and achieving the Sustainable Development Goals.  I look forward to action by Member States and all relevant stakeholders as we pursue this vital work.