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After three days of talking, the Italian G8 Summit 2009 was more about broken promises and photo opportunities, instead of real progress on solving poverty.

EU governments are losing out on a staggering 286.5 billion euros in revenue annually, equivalent to 33 million euros per hour, due to their failure to fairly tax Europe’s wealthiest. This amount, equivalent to Finland’s GDP, represents what a European wealth tax of up to 5 percent could raise every year, according to Oxfam’s analysis. 

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.

Reacting to the announcement that World Bank President Robert Zoellick will step down at the end of his term on June 30th, a global coalition of campaigners has called for an open and merit-based process to elect the next World Bank leader, and for developing countries to determine the selection.

At the close of the 2015 Spring meetings, Oxfam reacts to the summary of the event.

New Oxfam estimates show that 263 million more people could be pushed into extreme poverty in 2022, due to the combined impact of COVID-19, inequality and food and energy price inflation – accelerated by the war in Ukraine. Without urgent and bold national and international action, inequality and poverty will deepen, with poorer countries – many of which face looming debt crises – pushed deeper into poverty.

In a new report, 'Learning the Lessons', international agency Oxfam says that the aid community needs to fundamentally change the way it deals with food crises in the region and help communities to better prepare for recurring emergencies.

In response to the announcement today that World Bank President David Malpass will step down from his position by the end of June, Nadia Daar, Head of Oxfam International’s Washington DC Office, said: “If shareholders really want to ‘evolve’ the World Bank, then here is their golden opportunity. Malpass’ successor must be hired based on an open, merit-based and transparent selection process rather than the 80-year-old gentleman's agreement which sees the job automatically go to someone from the US. This is critical for the credibility and future strength of multilateralism."

Christine Lagarde gave the go ahead for 3 countries affected by Ebola to increase their fiscal deficit.Nicolas Mombrial, head of Oxfam’s DC office said,"Who would have thought that IMF would ever give the green light to countries— even affected by a terrible epidemic— to increase their fiscal deficits? It is jaw-dropping.”“With the recent IMF discourse on inequality, gender, climate, it raises hope of a new IMF that has moved past the Washington Consensus and its promotion of austerity policies to prioritizing the needs of those at the bottom of the…

“It is irresponsible for the World Bank to promote the deregulation of labor and the dismantling of the rights that workers have long fought for," said Nadia Daar, head of Oxfam's Washington office.