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A Eurozone breakup could cost the world’s poorest countries $30 billion in lost trade and foreign investment, international agency Oxfam has warned ahead of the G20 leaders meeting in Mexico to discuss the state of the global economy.

Commenting at the close of the EU council meeting where leaders agreed on a new EU 2030 climate target and discussed the EU’s response to the Covid-19 pandemic, Evelien van Roemburg, head of Oxfam’s EU advocacy office said: "The new, more ambitious, EU 2030 target still falls short of what is needed and what is fair. The EU must take urgent practical steps to deliver above and beyond this target."

In response to the COP28 decision to advance the establishment of a loss and damage fund, Lyndsay Walsh, Oxfam’s Climate Policy Advisor, said: “After 32 years of pressure and 27 COPs, we finally have a loss and damage fund. Despite the shortcomings in its structure, this is a very welcome step towards supporting people recovering from the severe and irreparable consequences of climate-fueled disasters. However, this isn’t the end of the journey."

European Commission President José Manuel Barroso, on behalf of the European Union, today proposed a package of 1 billion Euros [$1.3 billion] to support reaching the MDGs in African, Carib

Rich and poor countries alike have exacerbated an explosion of economic inequality since the outbreak of the pandemic from 2020, reveals new research by Oxfam and Development Finance International (DFI). 

G20 world leaders have failed to take definitive action to tackle poverty, hunger, climate, debt and deprivation that is crippling millions of people around the world, says Oxfam.

Today France and Germany’s leaders met in Paris to set out their

The World Bank today announced that 52 donor countries have committed to an $82 billion package for the 19th replenishment of the International Development Association (IDA19), the Bank’s fund for the world’s poorest countries.

Increasing aid and making it more effective can help poor people become more politically active in decisions that affect them, while also supporting governments to become more accountable and plot their own path to achieving the Sustainable Development Goals.

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.