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The G20 should take urgent action to protect poor countries from economic crisis that is forcing 100 people-a-minute into poverty, Oxfam said today. Developing countries across the globe are struggling to respond to the global recession.

The prospective new international Arms Trade Treaty must regulate the sale of parts and components being used to maintain or manufacture deadly weapons and military equipment, according to a new report by Oxfam.

New York: Today’s announcement by the USA of support for the Arms Trade Treaty (ATT) was welcomed by Oxfam International and Amnesty International, warning that Washington’s support comes at a very high price. Giving any Member State veto power would weaken not strengthen future Treaty.

In response to World Bank President Jim Yong Kim’s speech at George Washington University: "

Over a quarter of a billion more people could crash into extreme levels of poverty in 2022 because of COVID-19, rising global inequality and the shock of food price rises supercharged by the war in Ukraine, reveals a new Oxfam brief today. 

722 of the world’s biggest corporations together raked in over $1 trillion in windfall profits each year for the past two years amid soaring prices and interest rates, while billions of people are having to cut back or go hungry. 

In a puzzling move, inequality was not on the agenda at the International Monetary Fund’s Press Briefing in the Peruvian capital today, while World Bank President Jim Kim said TPP could boost growth.

As the G8 Summit comes to a close, international agency Oxfam criticized the leaders for their failure to deliver on their promises and for trying to divert attention by cobbling together a small initiative for maternal and child health.

Fighting inequality is not just an issue of fairness but an economic necessity. That’s not Oxfam speaking, but the International Monetary Fund today. 

Oxfam’s latest report on resilience calls on governments and aid agencies to tackle the politics and power at the heart of the increasing effects of climate change, rising inequality and pe