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In a major new report, Oxfam calls for aid to be increased, better targeted, made more predictable and governed more accountably.

The World Bank’s new assessment on the scale of finance needed to help developing countries adapt to the unavoidable impacts of climate change – $75-100bn per year on average from 2010-2050 – is a vital and timely contribution to the current climate negotiations under way in Bangkok.

All countries must use the COP20 Summit in Lima to resolve the impasse over “climate finance,” and make success possible at the critical Paris talks in December 2015, says international agency Oxfam.

For every new billionaire created during the pandemic — one every 30 hours — nearly a million people could be pushed into extreme poverty in 2022 at nearly the same rate, reveals a new Oxfam brief today. “Profiting from Pain” is published as the World Economic Forum — the exclusive get-together of the global elite in Davos — takes place for the first time face-to-face since COVID-19, a period during which billionaires have enjoyed a huge boost to their fortunes. 

Rich countries have secured almost three times as many courses of a World Health Organisation (WHO)-recommended COVID-19 medicine, Pfizer’s Paxlovid, according to new analysis from Oxfam and the People’s Vaccine Alliance.

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.

Contrary to the positive picture painted by the International Monetary Fund in its 2010 World Economic Outlook, poor countries are being forced to cut back on their economic crisis-response spending too soon.

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. 

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The Oxfam Board of Supervisors today appointed Jose Maria (Chema) Vera as interim Executive Director of Oxfam International.