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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.

Climate change alert: Oxfam report reveals spiralling costs of 3 degree compared to 2 degrees warming.

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.

In response to reports of a potential compromise agreed by the EU, South Africa, India and the US for a waiver of intellectual property rules for COVID vaccines, Max Lawson, Head of Inequality Policy for Oxfam and co-chair of the People's Vaccine Alliance, said:   

In response to the statement issued today by the Organization for Economic Cooperation and Development’s (OECD) Development Assistance Committee, which says that countries will be able to count donations of unwanted vaccine doses as part of their foreign aid commitment, for a guideline cost of $6.72 a dose, Oxfam’s Health Policy Manager, Anna Marriott, said: “This guidance is a double insult to the world’s poorest countries. Firstly, rich countries bought up many more doses than they could use at a time of limited supply, preventing millions of people in developing countries from getting life-saving vaccines. Now they are free to charge any donations of unwanted doses to their aid budgets, to the detriment of other essential aid spending." 

Oxfam spokesperson Mark Fried said:  

Oxfam welcomed today’s vote by European Parliamentarians in support of a strong European Financial Transaction Tax (FTT) covering all instruments (shares, bonds and derivatives), as put forward by

About innovative financing for development and climate change EU Finance Ministers today agreed their common position for the upcoming G20 Finance Ministers meeting on 14-15 October in Pa

Aid from rich nations is likely to fall by at least $9.5 billion by the end of 2012 – the biggest drop in aid for 15 years, according to new calculations by international agency Oxfam ahead of this week’s G20 Summit (Nov 3-4).