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An explosion in extreme wealth and income is exacerbating inequality and hindering the world’s ability to tackle poverty, Oxfam warned today in a briefing published ahead of the World Economic Forum in Davos next week.

The United Nations’ climate conference in Marrakech made it clear that the Paris Agreement is here to stay, but otherwise, did little to fix the Agreement’s biggest flaws that leave poor and climate-vulnerable countries in danger, said Oxfam.

The coronavirus threatens to take many millions of lives and push billions more into poverty. Oxfam proposes two things that the G20 and other leaders can do now: develop a global public health plan and emergency response to tackle the disease head on; and create an economic rescue plan to cope with the huge economic costs precipitated by this virus. 

In response to the announcement today from French President, Emmanuel Macron, that France will support a temporary waiver on intellectual property for COVID-19 vaccines, tests and treatments, Oxfam’s Health Policy Manager, Anna Marriott, said: “It is fantastic news that President Macron has joined US President Biden on the right side of history by supporting the calls from India and South Africa, as well as millions of people around the world."

In response to Jeff Bezos’ space flight scheduled for Tuesday, Deepak Xavier, Oxfam International's Global Head of Inequality Campaign, said: "We’ve now reached stratospheric inequality. Billionaires burning into space, away from a world of pandemic, climate change and starvation. 11 people are likely now dying of hunger each minute while Bezos prepares for an 11-minute personal space flight. This is human folly, not human achievement."

Up to a quarter of a billion people are at risk of falling into extreme poverty this year due to the COVID-19 pandemic, climate crisis and the crisis in Ukraine. Global inequality threatens to rise massively unless more is done to effectively address this situation.  

Today, European finance ministers updated the EU tax haven list. They added four countries to the blacklist (British Virgin Islands, Costa Rica, the Marshall Islands and the Russian Federation), three to the greylist (Albania, Aruba and Curacao) and they removed four countries from the greylist (Barbados, Jamaica, North Macedonia and Uruguay).

World leaders made no real commitments to ensure universal access to prevention, treatment and care for AIDS at this week's International AIDS conference in Vienna.

Each and every peacekeeper is still needed in the Democratic Republic of the Congo, aid agency Oxfam said today (28 May) as the United Nations Security Council renewed the mandate of MONUC, the UN peacekeeping force in the country.

International humanitarian agency Oxfam announced today that Cambodia is still in emergency relief mode though flood waters in some areas are beginning to stabilize.