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In response to the G20 communique, Oxfam says: ‘The G20 has failed to meet the huge challenges our world faces. They continue to stumble away from taking the bold actions necessary to tackle poverty, inequality, and climate change after an uninspiring and underwhelming Summit in India this weekend.” 

The G20, the preeminent global economic decision making body, has thrown its political weight behind the commitment to shared growth and narrowing the development gap through its Seoul Deve

The richest 1 percent grabbed nearly two-thirds of all new wealth worth $42 trillion created since 2020, almost twice as much money as the bottom 99 percent of the world’s population, reveals a new Oxfam report today. During the past decade, the richest 1 percent had captured around half of all new wealth. 

What is the IMF doing in practice to tackle inequality? Its main initiative has been a series of pilots that integrate inequality analysis into its economic surveillance of countries. This paper outlines Oxfam’s evaluation of these pilots and finds that they are not promoting policies that reduce inequality.

Following the abuses revealed in the Panama Papers, world leaders attending the Spring Meetings of the World Bank and International Monetary Fund this week must seize the moment to take decisive action and help end the era of tax havens, said Oxfam today.

Following Oxfam’s January report revealing that just 85 people owned the same wealth as the bottom half the world’s population, Forbes has updated its “billionaires' list”, showing that extreme inequality has worsened– just 67 people at the top now own half the wealth.

New Oxfam estimates show that 263 million more people could be pushed into extreme poverty in 2022, due to the combined impact of COVID-19, inequality and food and energy price inflation – accelerated by the war in Ukraine. Without urgent and bold national and international action, inequality and poverty will deepen, with poorer countries – many of which face looming debt crises – pushed deeper into poverty.

The coronavirus pandemic has swept across a world unprepared to fight it. Only one in six countries assessed for the CRI Index 2020 were spending enough on health, and in more than 100 countries at least one in three workers had no labour protection such as sick pay.

Welcoming the publication of the World Bank report, Turn Down the Heat: Climate Extremes, Regional Impa

The international tax system is broken and unfair.  July’s Finance for Development Conference in Addis is the perfect time to ensure all parties agree to tackle this problem.