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“Food, funds, inequality” issues will test G20 leaders’ ability to transform the global economy. The 2011 G20 Summit could be a watershed for global stability and prosperity if leaders rise above a narrow vision of self-interest and act decisively for the world’s poorest citizens.

“Today President Sarkozy signaled that a number of ‘lead’ countries could forge ahead this year with a tiny levy on financial transactions – a Robin Hood tax – and that he is confident othe

Overcoming inequality and slowing global warming are imperative for achieving a world free from poverty and suffering, says an Oxfam report released today.

World leaders have an historic opportunity to reform the global economy to ensure that the one in six people who live in extreme poverty benefit from economic recovery, international agency Oxfam said today ahead of the G20 summit in Seoul.

The IMF has already said that the coronavirus pandemic will trigger the worst economic fallout since the Great Depression —if ever there was a time to expand SDR allocations in a major way, it is now, said Oxfam today in response to the communiqué of the International Monetary and Financial Committee.

Oxfam’s Nicolas Mombrial said:

When the G20 meets in Seoul in November 2010, it has a big choice to make.

The world’s leading economies must act now to stop the price of basic foods from surging further out of the reach of poor people. They must also commit to a Financial Transaction Tax (FTT) to help millions of people hit by the economic crisis and climate change.

Suspending debt owed to rich countries is only one piece of the puzzle. Rich private banks and investors should be pushed to cancel debts by enforcement and not left to voluntary action, said Oxfam today in response to the announcement that the G20 has agreed to suspend debt repayment of the poorest countries.

Washington, DC— In reaction to World Bank President Jim Kim's announcement  of a new interim target of cutting global poverty to 9% by 2020, Oxfam spokesperson Raymond C.