On Saturday April 16, a 7.8 magnitude earthquake struck Ecuador killing hundreds of people, leaving thousands wounded and causing severe damage to infrastructure. Access to safe drinking water and storage, as well as shelter is urgently needed. With your help we can reach the most vulnerable populations with vital assistance.
International Monetary Fund
The International Monetary Fund has announced that its Executive Board has approved a package of governance reforms intended to give emerging economies a bigger say in the institution.
Oxfam spokesperson Mark Fried said:
The European Union, which holds eight seats out of twenty four on the International Monetary Fund (IMF) board, has made an offer to rotate some of their IMF board seats with middle-income countries
Oxfam spokesperson Pamela Gomez said: "Governance reform at the International Monetary Fund is long overdue.
Pamela Gomez, Oxfam International Policy Advisor, said:
Contrary to the positive picture painted by the International Monetary Fund in its 2010 World Economic Outlook, poor countries are being forced to cut back on their economic crisis-response spending too soon.