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Our new report warns multiple climate impacts could reverse 50 years of work to end poverty. Shifting seasons are destroying harvests and causing widespread hunger - but this is just one of the multiple climate change impacts taking their toll on the world’s poorest people.

The world’s ten richest men more than doubled their fortunes from $700 billion to $1.5 trillion —at a rate of $15,000 per second or $1.3 billion a day— during the first two years of a pandemic that has seen the incomes of 99 percent of humanity fall and over 160 million more people forced into poverty. 

Oxfam spokesperson Elizabeth Stuart said:

Thirty-two months remain to the deadline for reaching the Millennium Development Goals. This report is the first ever to track what developing countries are spending on the MDGs.

Oxfam is calling on the World Bank Group to put safeguards in place to ensure that its clients can prove they are paying their fair share of tax.

Responding to a press release issued by the G20 Presidency today signalling support for a new allocation of Special Drawing Rights (SDRs), Nadia Daar, Head of Oxfam International's Washington DC office, said: “After nearly a year of deadlock and pandemic, Oxfam is encouraged that the G20 is paving the path toward an issuance of International Monetary Fund (IMF) SDRs to boost global liquidity".  

The IMF has released a discussion note, authorized for distribution by chief economist Olivier Blanchard, on the damaging effect of income inequality on economic growth and supporting redistributiv

Oxfam is disappointed that the EU’s planned new “Trust Fund for Africa”, intended to address migration, risks being used more for border security purposes, rather than fighting poverty and inequality.

In 1984, a famine claimed the lives of one million Ethiopians.

The World Bank and the IMF must seize their early chance in what could be a watershed year to end extreme global poverty by putting the battle against inequality, climate change and tax dodging at the very top of its Spring Meetings’ agenda this week.