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Rich countries at the OECD ministerial meeting on development cooperation have failed to collectively commit to a massive scale-up in aid budgets to help developing countries face the devastating and widescale impact of COVID-19. 

If left unchecked, austerity policies could put between 15 and 25 million more Europeans at risk of poverty by 2025, bringing the number of people at risk of poverty in Europe up to 146 million.

The arrival of the Covid-19 pandemic to our Pacific shores once again brought to light the weakness of public health systems in our region. The reality is that our health systems are not ready for this crisis.

84 percent of the International Monetary Fund’s (IMF) COVID-19 loans encourage, and in some cases require, poor countries hard hit by the economic fallout from the pandemic to adopt more tough austerity measures in the aftermath of the health crisis, warned Oxfam today.

Less than half (49 per cent) of the 2.1 billion COVID vaccine donations promised to poorer countries by G7 countries have been delivered, according to new figures published today by Oxfam and the People’s Vaccine Alliance.  

In response to the World Bank Group President Jim Yong Kim announcing cooperation between the World Bank, the Asian Infrastructure Investment Bank and the BRICS New Development Bank, Nicolas Mombrial of Oxfam International said::“More money for development and better cooperation is always good news so Jim Kim’s willingness to work closely with these banks is welcome. But fighting poverty and inequality, operating transparently, and respecting high environmental and social standards must be at the heart of what these banks do…

It is shameful to see European banks again involved in a major global money laundering scandal. 

A report on how to raise the billions of dollars needed by millions of poor people already affected by climate change must help jump start the delivery of climate financing.

As the latest round of UNFCCC talks on climate change draw to a close today, Oxfam warns that there has been a clear lowering of expectations ahead of the next UN climate summit in Cancun which will stall the progress needed unless negotiations step up several gears.

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.