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Donor government negotiators are considering scrapping the global aid monitoring system that keeps donors honest and improves the quality of their foreign assistance, Oxfam warns.

Government negotiators meeting in Busan, South Korea are working through the night in a last ditch effort to reach a deal on the future of global aid

The European Union has adopted a new approach to foreign policy dubbed the “Global Gateway,” supported by a new European Financial Architecture for Development (EFAD). These policies are a direct response to the state of permacrises that the world finds itself in. It seeks to inject 180-300 billion euros over a period of six years into the EU’s partner countries in the form of infrastructure projects, a green transition and digitalisation. 

The international development agency said global food prices will more than double within 20 years as a new age of crisis forces the collapse of our broken global food system, said Oxfam today.

The European Union is rumored to be preparing just a token handout for climate action in poor countries for the next three years, with no guarantee that this money is going to come on top of existing aid commitments.

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…

On Wednesday, the European Commission will put forward a communication outlining its stance on the global climate change talks aimed at reaching a deal by world leaders by the end of the year.

The International Monetary Fund (IMF) today publishes a major new report on global corporate taxation: “Spillov

Rich countries must open the way to cheaper mass-produced COVID-19 vaccines in order to protect every person in the world and avert a $9 trillion “worst case” global economic catastrophe, said Oxfam today. They should also agree this week to inject $650 billion more into the global economy to help developing countries cope with the pandemic’s already devasting effects.