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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.

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. 

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.  

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.

The World Bank has released new draft safeguard policies that will vastly weaken protections for affected communities and the environment at the same time as the bank intends to finance more high-risk projects, say 19 organizations. 

The World Bank continues to steadily increase support for privatized education in lower-income countries despite mounting evidence that this approach is freezing out poorer children ―especially girls― and doesn’t mprove education quality. Oxfam’s new report "False Promises" says the Bank should immediately stop promoting Public Private Partnerships (PPPs) that expand private education.

The World Bank is forecasting that, for the first time ever, the number of people living in extreme poverty will fall under 10% of the world's population, to around 702 million people.

Responding to the release of the World Inequality Report today, which reveals that income inequality is rising in many countries but at very different speeds, Max Lawson, Head of Policy for Oxfam’s Even It Up Campaign said:“Extreme inequality harms us: our societies, our economies and our politics. Yet the World Inequality Report shows inequality is not inevitable – it is the product of government action and inaction. “Oxfam research reveals that three quarters of governments are doing less than half of what they could to tackle inequality.  This must change. Extreme…

Oxfam's response to today’s announcement that Christine Lagarde is stepping down as Managing Director (MD) of the International Monetary Fund (IMF), effective on September 12, 2019.