The World Bank and International Monetary Fund need to ditch the ‘trickle down’ economics of the past and lead the fight against inequality if they are serious about the new target to end extreme poverty by 2030.
Millions of poor people will go without life-saving food and medicines as donor aid pledges to poor countries are breached.
Campaigners are calling for a fundamental overhaul of World Bank lending to financial markets actors, following the publication of an Ombudsman audit.
Oxfam today revealed that just over a quarter of the taxes that could be raised each year from money currently hidden away in tax havens would be enough to lay the foundation for ending global hunger.
An explosion in extreme wealth and income is exacerbating inequality and hindering the world’s ability to tackle poverty, Oxfam warned today in a briefing published ahead of the World Economic Forum in Davos next week.