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 Managing Director endorsing moves towards a European FTT
Responding to comments by Christine Lagarde, IMF Managing Director, endorsing moves towards a European Financial Transaction Tax, Oxfam spokesperson Sebastien Fourmy said:
"It is clear that political momentum behind the FTT is growing. We urge the IMF to use its influence to persuade Europe to fast-track the FTT and encourage more countries to sign up.
"To be a true Robin Hood Tax a significant chunk of revenue must be used to help poor people in Europe and around the world who have been hit by a crisis they did nothing to cause."
Notes to editors
* Earlier this week the European Commission announced that 11 countries including the big 4 of Germany, France, Italy and Spain are backing an FTT in Europe.
* Lagarde was speaking at the Civil Society Organization townhall held during the IMF-World Bank annual meeting in Tokyo
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