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Fair tax regimes are vital to finance well-functioning states and to enable governments to uphold citizens’ rights to basic services, such as healthcare and education.

Responding to the World Bank's proposal of a $12 billion initiative to help poor countries purchase COVID-19 vaccines, Anna Marriott, Health Policy Advisor at Oxfam, said: "The World Bank is right to be concerned about whether poorer countries will be able to afford COVID-19 vaccines and treatments and they should use their influence accordingly."

"The failure to cancel debt payments will only delay the tsunami of debt that will engulf many of the world’s poorest countries, leaving them unable to afford the investment in healthcare and social safety nets so desperately needed", said Jaime Atienza, Oxfam International's Debt Policy Lead, in reaction to the G20 Finance Ministers and Central Bank Governors Meeting.

G20 leaders must take four concrete steps during the next few months to demonstrate their promise of a new world economic order will move beyond rhetoric to reality, Oxfam said today.

In response to the communiqué published following today’s meeting of G7 Finance Ministers and Central Bank Governors, Oxfam International’s Tax Policy Lead, Susana Ruiz, said: “That conversations about taxing the super-rich are happening at the G7 and G20 is historic. A majority of people, across party lines and across countries, support proposals to fairly tax the rich. 

This current draft of the 2019 World Development Report has interesting ideas, but also contains some dangerous proposals and assumptions which Oxfam believes might compromise the World Bank’s mission of eradicating poverty and achieving shared prosperity.

"We can't settle for what the World Bank has committed to so far ―now is the time to build momentum and raise ambition of all members, proving the bank's value as a leader on such urgent global issues," said Nadia Daar, Oxfam International's Head of Washington DC Office, in reaction to new World Bank president David Malpass’ press conference.

Income inequality is high or increasing in 60 percent (64 out of 106) of low- and middle-income countries receiving grants or loans from the International Monetary Fund (IMF) and World Bank, reveals new Oxfam analysis ahead of the 2024 Spring Meetings in Washington D.C. Countries with high levels of income inequality have Gini coefficients above 0.4, the warning level set by the United Nations.

Wealthy nations representing just 13 percent of the world’s population have already cornered more than half (51 percent) of the promised doses of leading COVID-19 vaccine candidates, Oxfam warned today as the health and finance ministers of G20 countries meet to discuss the global pandemic. 

As Vietnam graduates from IDA, the World Bank’s concessional finance window, there will be a major change in the types of development finance the country can access. Oxfam is concerned about what this changing financial landscape might mean for Vietnam’s fight against poverty, inequality, and gender inequality.