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“Today’s lack of progress on debt relief is as irresponsible as it is underwhelming. Merely encouraging private sector creditors and multilateral banks to participate in the Debt Service Suspension Initiative (DSSI) is woefully inadequate and a dereliction of duty. The G20 is in denial of the scale of response needed to address the worse global crisis in a century," said Jaime Atienza, Oxfam International’s Debt Policy Lead, in response to the communiqué of the G20 Finance Ministers and Central Bank Governors Meeting.

In advance of the UNSC Briefing on the crisis in Tigray, Oxfam in Ethiopia’s Country Director Gezahegn Kebede Gebrehana, said: “Days after the unilateral ceasefire was announced and as communities and global leaders grapple with the new context, millions of people across Tigray and surrounding areas remain in crisis. Even with the ceasefire, many vulnerable people are left without protection and resources, and need is only expected to grow."

COVID-19 has pushed millions into poverty in East Africa, and worsened inequality. However, building back during and after the pandemic offers East African governments a once-in-a-generation opportunity to do what their citizens want: make their economic systems fairer by increasing taxes on wealthy and large corporations, boost public spending, and improving workers’ rights.

Coronavirus is threatening us all. With each day, in every family, community and country, more of us are being personally affected by it. To beat the pandemic and avert harm to the lives of billions we must work together. We need to act across all countries and for every person. Fighting for some but not others is not an option. It only fuels risk for us all.

Former UN Human Rights Commissioner and Irish President, Mary Robinson, a vocal advocate for a People’s Vaccine has joined calls of 174 former world leaders and Nobel laureates for a patent waiver at the international level. This was prompted by news that US President Biden is considering supporting a proposal at the WTO that would temporarily suspend Covid-19 vaccine patents. 

Rich and poor countries alike have exacerbated an explosion of economic inequality since the outbreak of the pandemic from 2020, reveals new research by Oxfam and Development Finance International (DFI). 

The Covid-19 pandemic will not be defeated unless it’s defeated in all countries. In developing countries, where public health spending is often severely constrained, significant debt cancellation will be necessary to deal with the double whammy of health and economic crises.

About Financial Transaction Tax (FTT) and innovative financing for development  

We need to transform our economies to deliver universal health, education and other public services. To make this possible, the richest people and corporations should pay their fair share of tax. This will drive a dramatic reduction in the gap between rich and poor and between women and men.

The economic fallout from the coronavirus pandemic could push half a billion more people into poverty unless urgent action is taken to bail out developing countries, said Oxfam today.