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In response to the selection today of Ajay Banga as President of the World Bank for a five-year term beginning 2 June, Katie Malouf-Bous, interim Head of Oxfam International’s Washington DC Office, said: "The true test of Ajay Banga starts now: to reorient the World Bank to tackle the extreme inequality that robs billions of people of economic security and dignity. We need huge new investments in development but we need them to be publicly-led and purposed to lift people out of poverty —and we need guardrails around private finance that has run riot for too long."

World Economic Forum’s Human Capital Report demonstrates the need for a massive increase in funding for public education to close the growing gap between rich and poor and build a workforce that is fit for the future. 

The strategy to end extreme poverty and support inclusive growth is an important milestone for the World Bank and Oxfam welcomes Jim Kim’s vision and commitment.

Today marks an extraordinary gathering in New York of world leaders who have committed for the first time to take a stand together in the fight to promote inclusion and end extreme inequality.   An initiative led by Sweden alongside the 74th UN General Assembly, the gathering included heads of state and government from Sweden, Ethiopia, Spain, Sierra Leone, and Namibia; the Vice President of Indonesia, the Deputy Prime Minister of Ireland, and the Foreign Minister of Timor-Leste; and representatives from Uruguay and Tunisia, with the support of the Republic of Korea.…

The UN’s Committee on World Food Security today showed that it is up to its role as the central body of the global governance on food security, agriculture and nutrition. However a number of governments showed that they are not yet ready to address the structural causes of the broken food system.

On the eve of the G8 Summit in Canada, international agency Oxfam warned that G8 aid promises due in 2010 have been missed by as much as $20 billion dollars – twice the gap admitted by world leaders. The G8 must deliver on their promises to poor people and invest in their future.

For every new billionaire created during the pandemic — one every 30 hours — nearly a million people could be pushed into extreme poverty in 2022 at nearly the same rate, reveals a new Oxfam brief today. “Profiting from Pain” is published as the World Economic Forum — the exclusive get-together of the global elite in Davos — takes place for the first time face-to-face since COVID-19, a period during which billionaires have enjoyed a huge boost to their fortunes. 

EU governments are losing out on a staggering 286.5 billion euros in revenue annually, equivalent to 33 million euros per hour, due to their failure to fairly tax Europe’s wealthiest. This amount, equivalent to Finland’s GDP, represents what a European wealth tax of up to 5 percent could raise every year, according to Oxfam’s analysis. 

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.

Oxfam reaction to the “1000 Days to Improve Child Nutrition” MDG Summit side event, co-hosted by US Secretary of State Hillary Clinton and Micheal Martin, Irish Foreign Affairs Minister: