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Following today's donor meeting in Brussels to discuss the food crisis in the Sahel region of Africa, Oxfam deputy humanitarian director Graham MacKay said:

Today, the EU reached a provisional agreement on a new carbon tariff on goods imported into Europe (the Carbon Border Adjustment Mechanism).

Launched in Brussels on 19th May, this year’s flagship AidWatch report entitled 'Challenging self-interest: Getting EU aid fit for the fight against poverty' says that aid is becoming increasingly dictated by domestic political agendas.

The 2009 overseas aid figures released today by the OECD show that rich countries are failing to deliver on their promises to poorer countries. The amount of aid has fallen by $3.5 billion when compared with last year’s prices.

Runaway inequality has created a world where 62 people own as much wealth as the poorest half of the world’s population combined, according to an Oxfam report published today ahead of the annual gathering of the world’s financial and political elites in Davos.

Rising inequality could set the fight against poverty back by decades, Oxfam warned today as it published a new report showing that the number of billionaires worldwide has more than doubled since the financial crisis. 

The cost of vaccinating the world against COVID-19 could be at least five times cheaper if pharmaceutical companies weren’t profiteering from their monopolies on COVID-19 vaccines, campaigners from the People’s Vaccine Alliance said today.

Today, the President of the European Commission, Ursula von der Leyen, proposed the introduction of a cap on revenues of companies producing electricity with low costs and a solidarity contribution from fossil fuel companies. The revenues from these unexpected profits will be directed to people and businesses to help them adapt to the recent increase in energy prices as well as to invest in clean home-grown energy sources.

Today, EU finance ministers again failed to agree on an EU minimum tax for multinational companies. This follows a deal struck at the international level to implement a global minimum tax. 

Africa is facing a crisis of extreme inequality which is undermining growth, preventing poverty eradication and contributing to insecurity. This briefing paper shows that COVID-19 has deepened this crisis, and that the responses of African governments and international financial institutions are making little difference as debt burdens grow and austerity kicks in.