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Oxfam welcomes today’s announcement by the World Bank Group on a new Carbon Pricing Leadership Coalition before the UN Climate Summit in New York. The Summit is meant to build political momentum towards a post-2020 climate agreement in Paris in 2015, with governments on the hook to make meaningful commitments to reduce their emissions and to deliver climate finance to the poorest, most vulnerable countries. Placing a…

Nicolas Mombrial, Head of Oxfam’s Washington Office, said: “The IMF’s move will provide welcome relief to countries whose economies have been devastated by Ebola. But the IMF's step is not enough on its own – it needs to be the start of concerted global effort to help these countries."

Every year 100 million people are pushed into poverty as they have to pay out of pocket for healthcare. What today’s decision means is that we will now be able to count the cost of paying for healthcare for households around the world.

World Economic Forum’s Human Capital Report demonstrates the need for a massive increase in funding for public education to close the growing gap between rich and poor and build a workforce that is fit for the future. 

Responding to the publication of the Fiscal Monitor by the International Monetary Fund today, Susana Ruiz, Oxfam International's Tax Policy Lead, said: “Oxfam strongly welcomes the IMF’s call for progressive and emergency taxes to fund the recovery from the COVID-19 crisis, including taxing excess corporate profits and top income levels.

In response to the selection today of Ajay Banga as President of the World Bank for a five-year term beginning 2 June, Katie Malouf-Bous, interim Head of Oxfam International’s Washington DC Office, said: "The true test of Ajay Banga starts now: to reorient the World Bank to tackle the extreme inequality that robs billions of people of economic security and dignity. We need huge new investments in development but we need them to be publicly-led and purposed to lift people out of poverty —and we need guardrails around private finance that has run riot for too long."

As the newly elected European Parliament holds its inaugural plenary session in July and a new College of Commissioners takes office before the end of the year, there is a pivotal opportunity to shape an EU that prioritizes the well-being of future generations and the planet. Oxfam recommends focusing on three key priority areas in the new mandate: • Championing a strong and coherent international development agenda • Promoting international (humanitarian) law, humanitarian action and civic space • Leading the charge against the climate crisis, hunger and inequalities

The Covid-19 pandemic will not be defeated unless it’s defeated in all countries. In developing countries, where public health spending is often severely constrained, significant debt cancellation will be necessary to deal with the double whammy of health and economic crises.

There is a real risk that the OECD’s proposal on the application of a new minimum corporate tax rate will only benefit a handful of mainly rich countries where multinational companies are headquartered. Countless other rich and poor countries where these corporations do business will not be able to recover lost taxes.

In response to this week’s UN General Assembly Resolution that automatically mandates the UN General Assembly to meet within 10 days in the wake of any UN Security Council veto, Oxfam’s Head of the UN New York Office, Brenda Mofya said,