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The International Monetary Fund’s (IMF) gold holdings have increased in value by $19.3 billion since the start of the global coronavirus pandemic, said Oxfam today. 

Inequality has increased in 14 of the 18 G20 countries since 1990 as economic growth has too often failed to benefit poor people.

Today, EU member states have proposed a spending increase of 10 percent in 2019 for the EU’s external policies compared to this year’s budget. However, governments are focusing on the wrong issues, Oxfam, Save the Children, DSW and IPPF EN say. The organizations argue a strong focus on human development is needed to counter increasing inequalities and make sure no one is left behind.

In their Deauville Accountability Report, the G8 has massaged the figures, claiming to have delivered almost US$49 billion of the promised $50 billion. But according to the OECD, responsible for measuring the official aid figures, the G8 have delivered just $31 billion.

Today, the Development Assistance Committee of the Organisation for Economic Cooperation and Development (OECD DAC) published its preliminary figures on the amount of development aid provided in 2021. 

A group of economists, activists, politicians and millionaires from seven countries across Europe today registered a ‘European Citizens’ Initiative’ (ECI) calling on the European Union (EU) to adopt a permanent annual wealth tax on Europe’s biggest fortunes to raise revenue to reduce poverty and inequality both at home and in poorer countries, and to tackle the climate crisis.

Aid money the G8 has promised but won’t deliver could save more than 3 million lives, Oxfam said today as leaders gathered for the summit in L’Aquila, Italy.

G20 finance ministers meeting in London this weekend should provide a $280 billion bailout for millions of poor people struggling to survive the economic crisis. We provide three easy ways the G20 could deliver this up.

New Oxfam analysis describes a $27 trillion black hole – accumulating at around $3.9 trillion a year to 2030 – that low-and-middle income countries face to meet climate-related loss and damages, adaptation, and mitigation measures, along with their health, education and social protection needs.

An internal investigation released last night finds that World Bank Group staff kept quiet about a plantation company’s role in a violent land conflict in Honduras, when proposing loans to one of Central America’s top ten banks which funded it.