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Contrary to the positive picture painted by the International Monetary Fund in its 2010 World Economic Outlook, poor countries are being forced to cut back on their economic crisis-response spending too soon.

"In lieu of global cooperation and solidarity, pharmaceutical companies are being empowered to act as kingmakers ―deciding who lives and who dies― and using this new-found power to extract subsidies and potentially high prices for new COVID-19 vaccines," said Oxfam today in response to reports that French pharmaceutical company, Sanofi, will prioritize the US for any new COVID-19 vaccine.

Given the tremendous financing needs, Oxfam supports a strong IDA20 replenishment. We are calling for a robust policy package that is appropriately ambitious for the next three years, aimed at propelling IDA countries forward towards a just economy after COVID-19 that is more equal and inclusive.

World Bank President Jim Yong Kim has yet again failed to profile his commitment to tackling climate change and inequality as central to his aim in eradicating poverty by 2030.

Oxfam spokesperson Caroline Pearce said: On economic growth:

Yemenis are battling a third wave of COVID, which threatens 99 per cent of the population who are unvaccinated, Oxfam said today.  

The World Bank and International Monetary Fund need to ditch the ‘trickle down’ economics of the past and lead the fight against inequality if they are serious about the new target to end extreme poverty by 2030.

Former UN Human Rights Commissioner and Irish President, Mary Robinson, a vocal advocate for a People’s Vaccine has joined calls of 174 former world leaders and Nobel laureates for a patent waiver at the international level. This was prompted by news that US President Biden is considering supporting a proposal at the WTO that would temporarily suspend Covid-19 vaccine patents. 

“The pharmaceutical industry’s attempt to rubbish the World Health Organisation’s initiative suggests that they care more for profits than people’s health," said Anna Marriott, Health Policy Manager for Oxfam, in response to the World Health Organisation’s call for governments to back a voluntary scheme to share trial data and patents relating to vaccines and treatments for the coronavirus.

Robert Zoellick / the food crisis: Oxfam spokesperson Luc Lamprière said: