Statement delivered by H.E. Mr. Ivan Adolfo Acosta Montalvan, Hon Minister of Finance and Public Credit of Nicaragua

V20 MINISTERIAL DIALOGUE VIII- 21 April, 2022

 Statements

10:00 pm Dhaka time/12:00 pm Washington DC time

Statement delivered by H.E. Mr. Ivan Adolfo Acosta Montalvan, Hon Minister of Finance and Public Credit of Nicaragua

H.E. Mr. Ivan Adolfo Acosta Montalvan

Hon Minister of Finance and Public Credit of Nicaragua.

Thank you very much.  Very dear ministers, vice ministers, heads of delegation of the dialogues before this Ministerial Dialogue, dear friends, we’re very pleased to convey to you the fraternal greetings of the President of Nicaragua, Commander Daniel Ortega Saavedra, as well as the Vice President Rosario Murillo.  I would like to share with you now, our approach regarding the issue of adaptation and resilience.  Considering that the root of this problem lies in that the destructive models of production and consumption of developed countries have resulted in an accelerated development of a climatic crisis.

Climate change in itself is already history.  Now it is a climate crisis.  It is also a planetary crisis and the crisis of values.  Because of the lack of Christian and solidary principles, we find ourselves a vis-a-vis country which is polluted, and our Mother Earth is dying.  The countries that share this forum of vulnerabilities did not cause the climate crisis.  This is something, which is the responsibility of the large economies, which apply consumption and production models, which are based upon destruction and contamination and pollution of Mother Earth.

Nicaragua historically has been consistent in its policies for the protection and advocacy of our Mother Earth.  It was the first country, which was a signatory of the Universal Declaration of the common good of Earth and humanity in 2010.  And we have reaffirmed our commitment towards the protection and defense of our Mother Earth.

Amidst the climate crisis, we see that the new global public evil appears — the crisis of the pandemic because of the COVID-19, which increases greater climate risk for those developing countries, and especially those of Central American and Caribbean States.  Both these crises, the climate and health crisis, make evident the structural inequalities real and historic between the North and the South, which are the main threats in order to promote actions of adaptation visibly climate change, and for the attainment of the development agenda 2030.  Our country is indeed highly sensitive to the impact of climate change and the gap in order to deal with this climate risk — which represents $2 billion a year — which cannot be covered without the additional resources and incremental resources of official assistance for development.

Nicaragua is especially facing a present, the negative impact caused by the passage of hurricanes and these and other problems in 2020, which are assessed a $30 billion U.S. dollars, 2.3 times the nominal GDP of Nicaragua in 2020.  Under these circumstances, all leverage and the struggle against poverty by our administration, include the climate steps, and they will be compromised unless we have an overall compromise with climate justice under the principle of common liability and responsibility, and the corresponding capabilities with an adequate foundation for climate and political justice of repair.

We foster the commitment of developed countries in order to provide funding to developing countries that may guarantee the transfer of technology, as well as the strengthening of the capabilities in order to reduce the risks and stress resulting from the climate crisis.  We affirm the urgency of indeed, having a commitment as regards a new collective objective of financing after 2025, which will be quantified, starting with the goal of mobilization of $100 billion per year for our administration.

The main tool in order to combat the climate crisis is nothing other but the struggle against poverty, which is assessed together with climate actions.  With certain political priorities we make a plea and a call, so that vulnerable states may consider by the most developed countries.  They should not be considered as a threat to their national safety.  The negative consideration and stigmatization does not allow to make progress in a sustained manner within our efforts of adaptation and resilience.  Our states and their governments as a whole, will manage to overcome the risks and climate threats by way of respectful financial cooperation under the principles of collaboration in solidarity, thus thrusting sovereignty and self-determination of our peoples.  I thank you very much, Mr. Chairman.

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