The G20 missed a golden opportunity to tackle global poverty when it could only agree to disagree over how to make banks repay the cost of the economic crisis, said international agency Oxfam.
As the G8 Summit comes to a close, international agency Oxfam criticized the leaders for their failure to deliver on their promises and for trying to divert attention by cobbling together a small initiative for maternal and child health.
On the eve of the G8 Summit in Canada, international agency Oxfam warned that G8 aid promises due in 2010 have been missed by as much as $20 billion dollars – twice the gap admitted by world leaders. The G8 must deliver on their promises to poor people and invest in their future.
A global bank tax to help poor countries survive the economic crisis must be urgently agreed, Oxfam said today ahead of the G20 meeting of finance ministers in Busan, South Korea.