poverty

The coronavirus pandemic is fast pushing developing countries toward a debt crisis that would be catastrophic for their fight against poverty, with the likelihood of multi-billion-dollar defaults that will hurt the entire global economy, warned Oxfam ahead of the G20 Finance Ministers’ meeting this weekend (July 18-19).

In response to IMF Chief Economist Gita Gopinath’s statement that the coronavirus pandemic will trigger the worst economic fallout since the Great Depression, Nadia Daar, Oxfam International’s Head of Washington DC Office said: "The IMF’s assessment is chilling. The human suffering behind those numbers is almost unimaginable. Oxfam’s research shows that coronavirus could push half a billion more people into poverty".

The economic fallout from the coronavirus pandemic could push half a billion more people into poverty unless urgent action is taken to bail out developing countries, said Oxfam today.

The world’s 2,153 billionaires have more wealth than the 4.6 billion people who make up 60 percent of the planet’s population, reveals a new report from Oxfam today ahead of the World Economic Forum (WEF) in Davos, Switzerland.

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.

Poverty pay, harsh working conditions, and gender discrimination are commonplace on the farms and plantations that supply tea, fruit and vegetables to supermarkets such as Lidl, PLUS, and Whole Foods reveals new research published by Oxfam today.

Despite the recent spate of economic growth, Africa remains afflicted by entrenched poverty and alarmingly high and rising inequality. This paper uses the Reducing Inequality Index (CRI) developed by Oxfam and Development Finance to produce a ranking of African countries on their policies to reduce the gap between rich and poor.

Did you know that since the start of the COVID-19 pandemic, billionaires have made unimaginable, record-breaking fortunes? Every year, the gap between rich and poor gets even wider – standing in the way of ending global poverty. It is time to bring an end to inequality and overcome poverty for good.

This paper outlines Oxfam’s position on the 19th Replenishment of the International Development Association (IDA19), the World Bank’s fund for the poorest countries. It calls on donors for a strong replenishment, and with that financial commitment, to agree on a strong programmatic and policy agenda for IDA19 across the agreed upon special and cross-cutting themes.

The deadline for achieving the Sustainable Development Goals is looming, and the poorest countries face significant funding gaps as well as growing economic inequality that stands in the way of poverty reduction.