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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.

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.

Kristin Davis, Angelique Kidjo and Paul Theroux and others join the call on World Bank to temporarily freeze land deals in developing countries.

This global tax platform represents a step in a long road towards building a fairer and more transparent global tax system. The platform must be able to deliver tangible results and combat inequality, but most importantly, it must give the poorest countries a voice.

The World Bank is forecasting that, for the first time ever, the number of people living in extreme poverty will fall under 10% of the world's population, to around 702 million people.