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At the Annual Meetings of the World Bank and the IMF in Peru this week, moves to help combat inequality and climate change were announced, but G20 finance ministers failed to adequately address the skewed international tax system, said Oxfam today.

“The G20 reiterated previous commitments to reduce inequality, boost the participation of women in work and phase out inefficient fossil fuel subsidies. The G20 said they would draw up a proper response to the refugee and migrant challenge next year, which is too late. The world needs urgent action now, not more words.”

Ministers must deliver on their climate finance promises and support a second wave of attack on corporate tax cheats if their Lima meeting is to succeed, said Oxfam today. 

Unresolved rigged tax rules and privatized development are the major drawbacks of the UN Financing for Development Conference outcome, says Oxfam.

This year’s G20 Summit will raise the stakes for the group to prove itself against growing doubts about its effectiveness – not least for people living in poverty, says Oxfam.

Oxfam congratulates António Guterres on his appointment to what is arguably one of most challenging jobs on the planet. Mr. Guterres brings a wealth of experience and leadership to the role to guide the UN in the years to come.  

EU Finance Ministers must ensure countries removed from the tax haven blacklist deliver significant reforms, said Oxfam today, following an announcement that the Caribbean Islands of the Bahamas, and Saint Kitts and Nevis have been taken off the list.

With a growing EU gray list of tax havens, the EU must make sure countries follow up on their commitments, or else blacklist them, Oxfam said.

Today's digital tax proposal could help bring EU tax rules into the 21st century, by updating them to the digital economy. However, the European Commission's short-term proposal will not stop tax dodging by big tech firms, and could delay the much-needed global long-term solution. 

A 5-point plan to stop big corporations cheating poor countries out of billions of dollars in tax revenue, was published by Oxfam today in the wake of the Mauritius Leaks.