A desperate and largely unknown humanitarian crisis is deteriorating in the Lake Chad Basin region of West Africa, forcing millions of people to flee their homes and leaving millions more in need of humanitarian assistance. Oxfam is providing life-saving support but help is urgently needed to prevent the crisis turning into a catastrophe.
IMF and G20 Finance Ministers on IMF Resources
Oxfam spokesperson Elizabeth Stuart said:
"Emerging economies have kept their part of the bargain by giving the IMF the money it asked for, and Europe needs make room at the decision-making table in exchange.
"As Lagarde said, the IMF should use its new firepower to back poor countries too fragile to cope with a second round of economic crisis.
"Oxfam welcomes the commitment from G20 finance ministers to focus on climate finance - money that's urgently needed to help poor countries cope with the impacts of climate change. They should focus on innovative ways to raise public finance, like a financial transactions tax and carbon charges for international transport."
IMF/G20 Joint statement here: http://www.imf.org/external/np/sec/pr/2012/pr12144.htm
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