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“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

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.

Growth is necessary but not sufficient to lift poor people out of poverty, international agency Oxfam said today as it published a briefing paper calling on the G20 to agree an historic new Seoul development consensus to help the world’s poorest.

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

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.

Last year poor people around the world endured the consequences of the food and energy price crisis.

French President Sarkozy and European Commission President Barroso spoke at today’s conference on commodities and raw materials in Brussels, organized by the European Commission ahead of next week’

African countries have called for a suspension of all further talks on the Kyoto Protocol - except for discussions on rich country emissions reduction targets - until substantial progress is made on this critical issue. Hugh Cole, Climate Advisor for Oxfam in Southern Africa said: “The world’s poorest nations are faced with an impossible choice - no climate deal or a bad climate deal. Both options threaten the lives and livelihoods of millions of the worlds poorest people who are already struggling to cope with a changing climate. African leaders have agreed…

At the end of the G20 Summit in Rome, Italy, Oxfam panned the lack of bold and effective action from the world leaders at such an important moment in the global response to the COVID-19 pandemic. 

Multinational tax evasion is entrenching poverty and weakening developing country economies, Oxfam has warned ahead of the G20 leaders meeting in Russia to chart a plan for boosting global economic growth.