The 4th International Financing for Development Conference (FfD4)2 must address the extreme inequality crisis that threatens people and the planet. The richest one percent has the same wealth as 95% of humanity3 while global decision-making processes keep reproducing colonial patterns of power relations that leave billions behind and block progressive multilateral reform.
Inequality occurs on two fronts, national and global. The gap between the richest and the rest at the national level is very high or rising in most countries. Simultaneously the gap between the richest countries and the Global South rose sharply due to COVID-19 and the subsequent economic and debt crises, remaining unacceptably high.