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Over 150,000 people from around the world have joined 35 organizations in calling for world leaders to press the Israeli government to lift the blockade on Gaza as its reconstruction could take 17 years with just 5% of building materials allowed in one year on since the end of the last conflict.

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

Despite some advances, progress towards meeting aid and development effectiveness targets is flat-lining, according to a report published by the Global Partnership for Effective Development Cooperation. 

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. 

Public aid money should not be used to fund corporate-backed private school chains that fuel inequality. Other donor agencies and governments now need to follow suit, said Oxfam today in response to the US House Financial Services Committee’s (HFSC) announcement that the World Bank and its private sector arm have approved a package of reforms.

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 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.