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Today, the European Commission published its proposal for the next EU Multiannual Financial Framework (MFF). The MFF will determine the architecture and the financial amounts of the EU’s budget for the next seven years (2021-2027).Oxfam’s Policy Advisor, Hanna Saarinen, said:“The proposal shows that the EU is abandoning its ambition to be the global leader in international development. The EU is more concerned with pushing its own agenda than delivering on its commitments to the sustainable development goals. Despite increasing the amount of funds allocated…

“The G20 reiterated previous commitments to reduce inequality, boost the participation of women in work and phase out inefficient fossil fuel subsidies. The G20 said they would draw up a proper response to the refugee and migrant challenge next year, which is too late. The world needs urgent action now, not more words.”

This year’s G20 Summit will raise the stakes for the group to prove itself against growing doubts about its effectiveness – not least for people living in poverty, says Oxfam.

The European Commission has today presented a good proposal for a new framework for the EU’s development policy. The EU institutions and member states must now make sure they translate these fine words into concrete action, says Oxfam.

In a puzzling move, inequality was not on the agenda at the International Monetary Fund’s Press Briefing in the Peruvian capital today, while World Bank President Jim Kim said TPP could boost growth.

Plans for next year's EU budget mean that not the actual needs of people in developing countries will be addressed, but money will be spent on border security to stop migration, Oxfam deplores.

"Women and girls are today bravely taking a stand and Oxfam stands with them in solidarity," said Winnie Byanyima, Oxfam International Executive Director and women’s rights leader, this International Women’s Day.

Following a vote in the European Parliament on the EU budget for 2019, Oxfam is concerned that the EU continues to prioritize migration management at the expense of humanitarian action and sustainable development.

The combined wealth of the richest 1 percent will overtake that of the other 99 percent of people next year unless the current trend of rising inequality is checked, Oxfam warned today ahead of the annual World Economic Forum meeting in Davos.

The World Bank is forecasting that, for the first time ever, the number of people living in extreme poverty will fall under 10% of the world's population, to around 702 million people.