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Suspending debt owed to rich countries is only one piece of the puzzle. Rich private banks and investors should be pushed to cancel debts by enforcement and not left to voluntary action, said Oxfam today in response to the announcement that the G20 has agreed to suspend debt repayment of the poorest countries.

Over a decade ago, developed countries committed to mobilize $100bn per year by 2020 to support developing countries to adapt and reduce their emissions. The goal is a critical part of the Paris Agreement. As 2020 draws to a close, Oxfam’s Climate Finance Shadow Report 2020 offers an assessment of progress towards this goal.

Last year poor people around the world endured the consequences of the food and energy price crisis.

French President Sarkozy and European Commission President Barroso spoke at today’s conference on commodities and raw materials in Brussels, organized by the European Commission ahead of next week’

African countries have called for a suspension of all further talks on the Kyoto Protocol - except for discussions on rich country emissions reduction targets - until substantial progress is made on this critical issue. Hugh Cole, Climate Advisor for Oxfam in Southern Africa said: “The world’s poorest nations are faced with an impossible choice - no climate deal or a bad climate deal. Both options threaten the lives and livelihoods of millions of the worlds poorest people who are already struggling to cope with a changing climate. African leaders have agreed…

At the end of the G20 Summit in Rome, Italy, Oxfam panned the lack of bold and effective action from the world leaders at such an important moment in the global response to the COVID-19 pandemic. 

Multinational tax evasion is entrenching poverty and weakening developing country economies, Oxfam has warned ahead of the G20 leaders meeting in Russia to chart a plan for boosting global economic growth.

The world’s poor must not pay the price for the collapse of financial markets. Without immediate action, millions will suffer.

Ahead of the virtual G20 Summit tomorrow, Chema Vera, Oxfam International’s Interim Executive Director, urged G20 leaders to act boldly and across borders to save millions of lives.

Published today, economist Gabriel Zucman’s report ―due to be formally presented at the G20 Finance Ministers and Central Bank Governors’ Meeting in July― sets out a proposal for a global standard on taxing the ultra-rich. In response, Oxfam International’s Tax Policy Lead Susana Ruiz said: “This is a sensible and serious proposal that is in every government’s strategic economic interest. All G20 countries should support Brazil’s push to secure the first-ever global deal to tax the super-rich. We welcome the Zucman report, which offers a critical contribution toward fixing a system that allows the ultra-rich to avoid taxes and not only accumulate and protect astronomical amounts of wealth and income ―but also hide it from governments."