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Aid from rich nations is likely to fall by at least $9.5 billion by the end of 2012 – the biggest drop in aid for 15 years, according to new calculations by international agency Oxfam ahead of this week’s G20 Summit (Nov 3-4).

European Commission President José Manuel Barroso promised today he would announce an extra €1 billion for the Millennium Development Goals (MDGs) at a major UN summit in New York later this month.

Millions of poor and vulnerable people face hunger and poverty this year and next because of record global temperatures, droughts and erratic rains in 2014 and 2015, compounded by the development of possibly the most powerful El Niño on record.

Oxfam spokesperson Luc Lamprière said: Financial transaction tax:

The World Bank and International Monetary Fund need to ditch the ‘trickle down’ economics of the past and lead the fight against inequality if they are serious about the new target to end extreme poverty by 2030.

The UN Food and Agriculture Organization has just published it's The State of Food and Agriculture, 2012 report, on investmen

Oxfam is concerned that the progress in fighting hunger is slowing down. We must not lose sight of the fact that in 2015 there are still 795 million people not getting enough to eat in a world of plenty. This is unjust and inexcusable.

European Commission President Jose Manuel Barroso today threw his full support behind an EU Financial Transaction Tax (FTT) arguing that banks must make a '”contribution” back to society af

Oxfam spokesperson Luc Lampriere said:

The European Parliament today adopted a report advocating the EU press ahead with the introduction of a Financial Transaction Tax (FTT) on a unilateral basis to raise money for public goods.