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For every new billionaire created during the pandemic — one every 30 hours — nearly a million people could be pushed into extreme poverty in 2022 at nearly the same rate, reveals a new Oxfam brief today. “Profiting from Pain” is published as the World Economic Forum — the exclusive get-together of the global elite in Davos — takes place for the first time face-to-face since COVID-19, a period during which billionaires have enjoyed a huge boost to their fortunes. 

In reaction to the postponement of the Sahel donor conference, which was due to take place on 18 June, Oxfam together with Action Against Hunger, CARE International, Norwegian Refugee Council (NRC), and Save the Children, warned of a "hunger pandemic" in the Sahel on top of multiple crises, particularly as a result of COVID-19, conflict and the onset of the lean season.  24 million people (included children) are already in need of urgent humanitarian assistance.

In response to the commitments made at President Biden’s Second COVID-19 Summit today, especially the licensing of publicly owned medical technologies, such as the stabilized spike protein for use by the World Health Organization’s (WHO) COVID-19 Technology Access Pool (C-TAP) through the Medicines Patent Pool (MPP), Robbie Silverman, Oxfam America’s Senior Manager of Private Sector Advocacy, made the following statement:

As UNGA77 kicks off, Oxfam experts are engaging with a delegation in New York along with remote participation. Oxfam experts will be focused on issues including Hunger and the Global Food System, Climate Justice, the crisis in Yemen, Ukraine, COVID-19 recovery, Inequality, Education, and more. 

“Today’s lack of progress on debt relief is as irresponsible as it is underwhelming. Merely encouraging private sector creditors and multilateral banks to participate in the Debt Service Suspension Initiative (DSSI) is woefully inadequate and a dereliction of duty. The G20 is in denial of the scale of response needed to address the worse global crisis in a century," said Jaime Atienza, Oxfam International’s Debt Policy Lead, in response to the communiqué of the G20 Finance Ministers and Central Bank Governors Meeting.

In reaction to the Government of India’s decision to refuse renewal of Oxfam India’s Foreign Contribution Regulation Act (FCRA) registration, Amitabh Behar, CEO of Oxfam India said: “The restriction will severely affect our ongoing crucial humanitarian and social work in 16 states across the country.

As the first case of coronavirus is confirmed in Yemen, Muhsin Siddiquey, Oxfam Country Director in Yemen said: “The first confirmed case of coronavirus in Yemen is a devastating blow in a country that is ill-equipped after five years of brutal conflict to contain its spread.

"In lieu of global cooperation and solidarity, pharmaceutical companies are being empowered to act as kingmakers ―deciding who lives and who dies― and using this new-found power to extract subsidies and potentially high prices for new COVID-19 vaccines," said Oxfam today in response to reports that French pharmaceutical company, Sanofi, will prioritize the US for any new COVID-19 vaccine.

Given the tremendous financing needs, Oxfam supports a strong IDA20 replenishment. We are calling for a robust policy package that is appropriately ambitious for the next three years, aimed at propelling IDA countries forward towards a just economy after COVID-19 that is more equal and inclusive.

In reaction to the UN Security Council's renewal of the mandate of the United Nations Mission for the Referendum in Western Sahara (MINURSU) today, Oxfam welcomed the decision but warned of the continued suffering of over 170,000 Sahrawi refugees in Algeria as the conflict marks its 45th year this October.