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Wealthy Group of Seven (G7) countries owe low- and middle-income countries $13.3 trillion in unpaid aid and funding for climate action, reveals new analysis from Oxfam ahead of the G7 Summit in Hiroshima, Japan.

Commenting on the publication of a new UN Report on the State of Food Security and Nutrition in the World, which highlights that 60 million more people are hungry today than they were five years ago, and three billion men, women and children – over a third of humanity – cannot afford enough healthy food to eat, Rashmi Mistry, head of Oxfam's Grow Campaign, said: "The UN report is highly alarming. It shows our global food system is unravelling at the seams."

Oxfam strongly welcomes today’s leaked documents on Luxembourg’s tax haven operations revealed by the International Consortium of Investigative Journalists (ICIJ), showing that Luxembourg granted favorable tax treatment to many multinational corporations in order for them to dodge taxes by routing their profits through the country.

Responding to IMF Managing Director, Christine Lagarde’s curtain-raiser speech today, ahead of the IMF and World Bank Spring meetings, Nadia Daar, Oxfam International’s Head of Washington office, said: “Madame Lagarde reminds us that traditional approaches to economic growth are failing and poor countries are being hit hardest. We are glad the IMF recognizes the ‘winner takes most' economies we have created are unsustainable and we welcome her call to address excessive inequality through progressive tax measures and more spending on public services such as education…

Nigeria and Singapore are among a group of governments that are fueling inequality, according to a newly released edition of the Commitment to Reducing Inequality Index developed by Oxfam and Development Finance International.

The recovery fund and long-term EU budget agreed today do not match the urgency of our current situation and the challenges ahead, said Oxfam.

Responding to the news that the number of global deaths from COVID-19 has now passed 4 million, Anna Marriott, Oxfam’s health Policy Manager and spokesperson for the People’s Vaccine Alliance, said: “This is a horrific milestone and each one of these lives lost is a tragedy. Many of these deaths could have been prevented had the successful vaccine science been shared and production of doses ramped up by more manufacturers across the world."

One year after the release of the UN Secretary-General’s High-Level Panel on Access to Medicines landmark report, this paper assesses the level of implementation by countries and institutions and recommends ways to use the report to improve both innovation and access to medicines.

As 2020 draws to a close, the economic devastation caused by the COVID-19 pandemic shows no sign of abating. Our analysis shows that none of the social protection support to those who are unemployed, elderly people, children and families provided in low- and middle-income countries has been adequate to meet basic needs.

This global tax platform represents a step in a long road towards building a fairer and more transparent global tax system. The platform must be able to deliver tangible results and combat inequality, but most importantly, it must give the poorest countries a voice.