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A new Oxfam report today says that as many as 11 people are likely dying of hunger and malnutrition each minute. This is more than the current global death rate of COVID-19, which is around seven people per minute. The report, ‘says that conflict remains the primary cause of hunger since the pandemic, pushing over half a million people into famine-like conditions ―a six-fold increase since 2020.

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.

Given the immense financing needs to achieve development goals —nearly $4 trillion annually— Oxfam supports a robust and generous IDA replenishment. But reaching a record dollar amount only makes a bigger IDA, when what is most needed is a better IDA. A better, more impactful IDA must minimize the cost of finance, but more importantly catalyze investments that reduce inequality. After all, funds like IDA remain so crucial in part because we have collectively failed to address extreme inequality within and between countries. 

The COVID-19 crisis cost women around the world at least $800 billion in lost income in 2020, equivalent to more than the combined GDP of 98 countries, said Oxfam today.  

Days of heavy monsoon rain in south-eastern Bangladesh have caused severe flooding in and around the Cox’s Bazar refugee camps, leaving thousands in urgent need of food, water and sanitation, Oxfam warned today. 

Pressure is piling on the G20 to lead a global push to increase taxes on the richest citizens back to past levels that most people believe were fairer and more useful for society. 

Oxfam International and Oxfam Intermón met with the Prime Minister of Spain.

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. 

Runaway inequality has created a world where 62 people own as much wealth as the poorest half of the world’s population – a figure that has fallen from 388 just five years ago, according to an Oxfam report published today ahead of the annual gathering of the world’s financial and political elites in Davos.

At the close of the 2015 Spring meetings, Oxfam reacts to the summary of the event.