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An important International Monetary Fund (IMF) initiative to shore up poor people in the Global South from the worst effects of its own austerity measures and the global economic crisis is in tatters.

As many as 12,000 people could die per day by the end of the year as a result of hunger linked to COVID-19, potentially more than could die from the disease, warned Oxfam in a new briefing published today. The global observed daily mortality rate for COVID-19 reached its highest recorded point in April 2020 at just over 10,000 deaths per day.

Oxfam applauds the World Bank's new strategy to halve extreme poverty by 2020 and end it by 2030, but swift action is now needed to bring the strategy to life.

In reaction to the 2023 Somalia Humanitarian Response Plan published today, Oxfam Country Director in Somalia, Adil AlMahi, said: “With five failed rain seasons, Somalia is quickly moving towards what may be one of its worst humanitarian crises in recent history. People’s ability to cope has been stretched to a breaking point. They have nothing left to fall back on. 

New estimates today from the Food and Agriculture Organization which show that the number of hungr

“At the start of the week, we urged the Bank to show it’s serious about ‘“ending poverty and boosting shared prosperity”’ in discussions on additional funding. We’re pleased to see them recommit to this, but it’s now up to the Bank’s programming to put its money where its mouth is," said Nadia Daar, head of Oxfam International's Washington office. 

The hunger crisis in Yemen, which affects almost one out of every two Yemeni citizens, and is putting nearly one million children at risk of severe malnutrition, must be addressed immediately.

Ten leading aid agencies today called for a 'surge' in the humanitarian effort to help 10 million people at risk of acute hunger across the Sahel region of West and Central Africa.

The International Monetary Fund’s advice to countries promotes policies that fail to reduce inequality and may even increase it, according to Oxfam research. This advice clashes with what their own research shows countries should do to reduce inequality.

A global coalition of campaigners have called for an open process to elect the next Managing Director of the International Monetary Fund, and an end to the stranglehold that Europeans have had on the post since it was created.