- International cooperation is fundamental in resource mobilization. Funds from developed countries are a complementary policy option to scale up financing for developing countries.
- International cooperation must be renewed on the basis of a classification that goes beyond per capita GDP, adequately capturing levels of development, especially for middle-income countries.
- In the medium term, it will be crucial to establish the social and economic agreements needed to strengthen direct taxation on income and property, which represents the largest gap vis-à-vis OECD countries.
- One option to increase the availability of resources is the recirculation of special drawing rights from developed countries to developing countries. A second option is the creation of innovative mechanisms, such as liquidity funds financed by developed countries. A third option is to increase the lending capacity of multilateral and subregional banks through higher capitalization, increased capacity to leverage private sector resources and establish more flexible lending criteria, or a combination of these.
- Strengthening domestic resource mobilization is critical to ensure the sustainability of public debt and to make space for public policies geared towards productive, inclusive and sustainable development and the effective guarantee of human rights. Such national efforts must be accompanied by progress at the international level, such as the creation of permanent bodies for sovereign debt relief and restructuring, and a greater supply of financing from international financial institutions under favourable conditions, with conditional rates and long maturities.
- Strengthening institutional governance and technical, operational, political and prospective capabilities is critical in order to foster resource mobilization in the region. Regarding technical capabilities, there is a need to improve the comprehensive public policy management framework that facilitates the mobilization of both public and private financial resources, and to enhance the governance of fiscal sustainability frameworks.
- In terms of operational capabilities, the region’s economies need to develop comprehensive information systems that link the use of available financing with policies in key development areas. It is also vital to strengthen processes associated with the annual national budget, public procurement and national public investment systems to ensure efficient management in line with development priorities.
- With respect to political capabilities, the coordination and coherence between fiscal, monetary, exchange-rate and prudential policies should be improved. In addition, the region should adopt common positions in international forums in order to contribute to reforming the international financial architecture.
- Concerning prospective capabilities, developing the ability to create alternative future scenarios in the region is essential. This will make it possible to anticipate challenges and needs, develop strategies and priorities that will be sustained over time, and encourage informed and strategic decision-making.
- Combining trade and investment policies with productive development policies can help to incorporate new environmentally sound technologies in the region and expand their application.
- International financial institutions should also ensure that they fully respect human rights in their financing and conditionalities. Development financing should be aligned with international standards, address discrimination and other root causes of inequalities, and integrate participation and accountability. This alignment requires, among other things, an economic paradigm shift within these institutions towards a human rights-based economy.
- It is critical that the countries of the region act in a coordinated manner and establish partnerships with other countries that are committed to preserving the multilateral trading system and reforming it to better synergize with the 2030 Agenda.
- There is a need to amend standards and incentives to favour low-carbon investments and to adjust cost-effectiveness criteria to prioritize sustainable options.
- By creating instruments such as nationally determined contributions and long-term climate strategies, countries can mainstream climate change-related decisions across sectors and link them to their development and investment plans, as well as national budgets, to strengthen the coordination and coherence needed between stakeholders and policies for sustainable development.
- Efforts to achieve the SDGs can be accelerated through multi-stakeholder collaboration.
- Achieving the sustainability of national strategies related to independent and quality statistical programmes requires continued investment in national statistical systems in order to meet the needs of institutions responsible for ensuring data production for statistical monitoring of the 2030 Agenda and build core statistical capacity in developing countries, including least developed countries and small island developing States.
- One cross-cutting issue related to Goal 17 is the need to invest in statistical development using inclusive statistical methodologies to obtain high-quality, timely and reliable data disaggregated by multiple characteristics at the same time, such as sex, sexual orientation, age, ethnicity, wealth, migration status, disability, geographical location and other aspects relevant in national contexts.