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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.

The UN General Assembly outcome document agreed today exposes the unevenness and gaps in achieving the MDGs between and within countries.

In response to IMF Chief Economist Gita Gopinath’s statement that the coronavirus pandemic will trigger the worst economic fallout since the Great Depression, Nadia Daar, Oxfam International’s Head of Washington DC Office said: "The IMF’s assessment is chilling. The human suffering behind those numbers is almost unimaginable. Oxfam’s research shows that coronavirus could push half a billion more people into poverty".

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.

Oxfam International Executive Director, Winnie Byanyima, will use the WEF Africa meeting in Kigali, Rwanda this week to call for a radical overhaul in the way African countries manage the income from natural resources, an end to tax havens and the use of progressive taxation to fight inequality.

In reaction to Ethiopia’s latest food insecurity figures released today, Oxfam’s global Emergency Food Security Advisor, Emily Farr, said: “The new figures released today from the IPC showing new and dangerous levels of hunger in Ethiopia are extremely worrying. According to the latest IPC findings, there are right now over 350,000 people in a hunger catastrophe - the largest number of people to reach that classification since Somalia in 2011. This number is expected to climb to 401,000 in July."