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A Eurozone breakup could cost the world’s poorest countries $30 billion in lost trade and foreign investment, international agency Oxfam has warned ahead of the G20 leaders meeting in Mexico to discuss the state of the global economy.

G7 leaders meeting in Taormina, Sicily, this week should take the lead in fighting famine and immediately fund nearly half of the UN’s urgent appeal to avoid catastrophic hunger and more deaths.

 The UN Security Council (UNSC) is failing people living in conflict, with Russia and the United States particularly responsible for abusing their veto power which is blocking progress toward peace in Ukraine, Syria, and the Occupied Palestinian Territory and Israel. Ahead of the UN Summit for the Future, Oxfam calls for reform of the UN Security Council to stop the “Permanent Five” from being their own “judge and jury”.

A new Oxfam report today says that as many as 11 people are likely dying of hunger and malnutrition each minute. This is more than the current global death rate of COVID-19, which is around seven people per minute. The report, ‘says that conflict remains the primary cause of hunger since the pandemic, pushing over half a million people into famine-like conditions ―a six-fold increase since 2020.

Nearly 70 poor countries will only be able to vaccinate one in ten people against COVID-19 next year unless urgent action is taken by governments and the pharmaceutical industry to make sure enough doses are produced.