The G20 should take urgent action to protect poor countries from economic crisis that is forcing 100 people-a-minute into poverty, Oxfam said today. Developing countries across the globe are struggling to respond to the global recession.
G20 finance ministers meeting in London this weekend should provide a $280 billion bailout for millions of poor people struggling to survive the economic crisis. We provide three easy ways the G20 could deliver this up.
G20 leaders must take four concrete steps during the next few months to demonstrate their promise of a new world economic order will move beyond rhetoric to reality, Oxfam said today.
Finding the opportunity in a crisis is more than a snappy political catchphrase. It is the opportunity for the leaders of the G20 meeting on April 2nd to take long-term decisions in the interests of people and the planet. (a joint agency op-ed on the G20)
The $8.42 trillion promised by rich country governments to bailout banks would be enough to end global extreme poverty for 50 years and a massive step towards ending it forever.
Europe is turning its back on poor countries just when they need help most. At a crucial time just ahead of the G20 Summit in London, the EU is empty-handed and in no fit state to lead the world on the two biggest issues we face today – the economic and climate crisis.
The scale of the losses could outweigh the $103bn developing countries receive annually in overseas aid.