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The IMF has released a discussion note, authorized for distribution by chief economist Olivier Blanchard, on the damaging effect of income inequality on economic growth and supporting redistributiv

Oxfam’s Nicolas Mombrial said:

“People have become complacent about COVID-19. Our global (health) funds are fast running out of money. Vaccine inequity is getting worse,” said former UK prime minister Gordon Brown today. 

New Oxfam analysis ahead of the world’s largest development financing talks in a decade, in Seville, Spain.

Income inequality is high or increasing in 60 percent (64 out of 106) of low- and middle-income countries receiving grants or loans from the International Monetary Fund (IMF) and World Bank, reveals new Oxfam analysis ahead of the 2024 Spring Meetings in Washington D.C. Countries with high levels of income inequality have Gini coefficients above 0.4, the warning level set by the United Nations.

The study builds on existing literature on levels and trends of inequality in Uganda to gather evidence on how inequality manifests itself and how it affects different people across different social, political and economic strata. 

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. 

Donor governments are prioritizing aid ‘results’ in advance of the Fourth High Level Forum on Aid Effectiveness (HFL4) in Busan, Korea, due to take place at the end of 2011.

In an increasingly unequal world, advancing gender equality is fundamental to tackling inequality and poverty. Feminist aid has the potential to challenge us to rethink how aid is delivered and to truly transform systems of unequal power.

"The failure to cancel debt payments will only delay the tsunami of debt that will engulf many of the world’s poorest countries, leaving them unable to afford the investment in healthcare and social safety nets so desperately needed", said Jaime Atienza, Oxfam International's Debt Policy Lead, in reaction to the G20 Finance Ministers and Central Bank Governors Meeting.