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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.

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.

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.