Search results

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.

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. 

This G20 summit delivers a vital pick-me-up for poor countries struggling to survive the economic crisis but much more is needed to ensure their long-term recovery.

In response to the G20 communique, Oxfam says: ‘The G20 has failed to meet the huge challenges our world faces. They continue to stumble away from taking the bold actions necessary to tackle poverty, inequality, and climate change after an uninspiring and underwhelming Summit in India this weekend.” 

The G20, the preeminent global economic decision making body, has thrown its political weight behind the commitment to shared growth and narrowing the development gap through its Seoul Deve

What should have been a watershed G20 summit for shared global prosperity fell short of its potential – but some of the strongest ideas, especially the Robin Hood Tax, did overcome the opposition of some countries.

Global greenhouse gas (GHG) emissions are set to rise by 10.6% by 2030 instead of falling by the 45% needed to limit the increase in global temperature to 1.5 °C. The G20 countries are the worst and most-responsible offenders, says Oxfam.

Less than eight cents in every dollar raised in tax revenue in G20 countries now comes from taxes on wealth, reveals new analysis by Oxfam today ahead of the first meeting of G20 Finance Ministers and Central Bank Governors in Sao Paulo, Brazil. 

Oxfam’s Gregory Adams said: “Secretary Clinton has thrown down the gauntlet about the need for real changes to improve foreign assistance.