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New estimates today from the Food and Agriculture Organization which show that the number of hungr

Rising inequality poses a dire threat to continued prosperity in Asia, where an estimated 500 million people remain trapped in extreme poverty, most of them women and girls.

Every country in the world is experiencing an economic shock as a result of the Coronavirus crisis, and all governments must act now to protect their people from destitution. Unless dramatic action is taken to shore up the economies of developing countries, the crisis could push as many as half a billion people into poverty.

The G20 leading economies have sidelined development and food security at their summit in Los Cabos.

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.

In 2009, an Oxfam report highlighted five main effects that Bolivia could expect as a result of climate change: less food security; less water availability; more frequent and larger-scale “natural” disasters; an increase in mosquito-borne diseases; and more forest fires. About 10 years later, a similar team of experts traveled to different regions of the country, to explore some aspects that could not be covered in the previous visit and to observe the changes.

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…

Oxfam is encouraged by World Bank President Dr. Jim Yong Kim’s rejection of trickle-down economics and his clear stance on the enormous challenge inequality poses across the world. 

Oxfam estimates that just one of the richest men in Ghana earns from his wealth more in a month than one of the poorest women could earn in 1,000 years. In this report, we call on the government of Ghana to use public spending to reduce inequality and put women’s economic empowerment at the heart of policymaking.  

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