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Brazilian President Luiz Inácio Lula da Silva, Spanish Prime Minister Pedro Sánchez, former South African President Thabo Mbeki, former Senegalese Prime Minister Aminata Touré, and economists Joseph Stiglitz, Jayati Ghosh and Gabriel Zucman today delivered a powerful and unequivocal message: the global oligarchy must be challenged through fair taxation of the super-rich. 

Billionaire fortunes have grown at a rate three times faster than the previous five years. The number of billionaires has surpassed 3,000 for the first time, and the level of billionaire wealth is now higher than at any time in history. Meanwhile, one in four people globally face hunger. 

Modern weapons and military equipment cannot be made or maintained without parts and components that are sourced and traded around the world.

At least ten million poor people face hunger this year and next due to droughts and erratic rains, influenced by climate change and the likely development of a ‘super El Niño’.

Time is running out for ministers meeting in Paris to boost adaptation funding levels by 2020 and agree to set new improved finance targets for both adaptation and emissions reductions from when the Paris deal comes into force in 2020, Oxfam said today.

The international community must plug a $2 billion funding gap for countries hit by El Nino-related drought and storms. These have left a staggering 60 million people around the world facing crop failures and worsening hunger.

The World Bank and the International Monetary Fund cannot allow political and economic shocks to hijack their ambitions to combat climate change and curb inequality, warned Oxfam.

With the World Bank and International Monetary Fund Annual Meetings wrapping up, Nadia Daar, the head of Oxfam International’s Washington office commented on the week’s events, including developments on inequality, climate change, and tax policy. 

Today, EU Development Ministers meeting at the Foreign Affairs Council approved conclusions on social protection in development cooperation.

Meeting today in Brussels, European Finance Ministers failed to take bold action against tax evasion and avoidance, leaving a great deal still to be achieved at next week’s EU leaders’ summ