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This report reveals the widespread use of tax havens and low tax jurisdictions in the corporate structures of companies holding petroleum rights in Kenya.

The World Bank and IMF must step up their support for developing countries who are struggling with spiking food prices along with the fallout from Europe’s fiscal crisis, Oxfam said ahead of the annual meeting of the institutions in Tokyo this week.

The $8.42 trillion promised by rich country governments to bailout banks would be enough to end global extreme poverty for 50 years and a massive step towards ending it forever.

Thirty-two of the world’s largest companies stand to see their profits jump by $109 billion more in 2020 as the Covid-19 pandemic lays bare an economic model that delivers profits for the wealthiest on the back of the poorest, according to a new Oxfam report today.

Oxfam spokesperson Mark Fried said:  

Europe is facing unacceptable levels of poverty and inequality. This briefing paper reviews the current situation and presents recommendations to help put an end to poverty and extreme inequality in Europe.

Oxfam has made a submission to the International Monetary Fund (IMF) on its 2011 review of the conditions it attaches to its loans.

Africa’s remarkable growth, driven in large part by a minerals and energy boom, is threatened by illicit capital outflows and widening income gaps.

Details of the World Bank’s climate finance flows to developing countries are being poorly disclosed and may be hiding discrepancies and allowing for dubious claims, according to a new report by Oxfam.

Fifty one of the 68 companies that were lent money by the World Bank’s private lending arm in 2015 to finance investments in sub-Saharan Africa use tax havens, Oxfam revealed today.