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Billionaire fortunes increased by 12 percent last year – or $2.5 billion a day - while the 3.8 billion people who make up the poorest half of humanity saw their wealth decline by 11 percent, reveals a new report from Oxfam today.

In reaction to the plenary remarks delivered by World Bank President Jim Kim, Oxfam’s head of Washington office, Nicolas Mombrial, said:

Oxfam congratulates António Guterres on his appointment to what is arguably one of most challenging jobs on the planet. Mr. Guterres brings a wealth of experience and leadership to the role to guide the UN in the years to come.  

Africa is losing billions to corruption, poorly negotiated deals and tax dodging. Leaders must listen to their people. They must crack down on tax dodging and maximize progressive revenues to create a more human economy for Africa.

Since 2015 all banks based in the European Union have been obliged to publicly report their profits and tax on a country-by-country basis. This report showcases research by Oxfam that uses this new transparency data in depth for the first time to illustrate the extent to which the top 20 EU banks are using tax havens.

Oxfam's response to today’s announcement that Christine Lagarde is stepping down as Managing Director (MD) of the International Monetary Fund (IMF), effective on September 12, 2019.

An internal investigation has revealed that the World Bank has invested in a palm oil and food company implicated in serious rights abuses in Honduras.

Oxfam today launches a major new report highlighting the growing pace of land deals brokered around the world, often to the peril of poor communities who lose their homes and livelihoods – sometimes violently – with no prior consultation, compensation or means of appeal.

Oxfam cautioned that the maternal and child health effort announced on Friday seems yet another empty G8 promise, given that the overall aid pie is shrinking.

'In terms of a plan to reduce extreme income inequality, we are left empty handed. There has been a lot of talk and a raw sketch of plan of action in the communique, but it’s just a drop in the bucket.”