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At the close of the World Bank and International Monetary Fund’s Spring Meetings in Washington, Chris Stalker, Acting Head of Oxfam International’s Washington office, commented on the week's developments.

Ahead of the Annual Meetings, international agency Oxfam urged the World Bank to sharpen and swiftly move forward on the new strategy to end poverty by 2030 and boost shared prosperity.

New Oxfam analysis describes a $27 trillion black hole – accumulating at around $3.9 trillion a year to 2030 – that low-and-middle income countries face to meet climate-related loss and damages, adaptation, and mitigation measures, along with their health, education and social protection needs.

The international development agency said global food prices will more than double within 20 years as a new age of crisis forces the collapse of our broken global food system, said Oxfam today.

A European tax on financial transactions would be fair, practical and popular and could raise as much as €210 billion to tackle poverty and climate change, according to Oxfam's new report.

“Oxfam welcomes this new commitment; bringing down the price of storage is an important piece in making energy more accessible to poor communities and helps establish clean energy grids that low-carbon economies need," said Sasanka Thilakasiri, Oxfam’s energy policy lead.

The UN could drastically reduce the 24,000 deaths occurring daily around the world from hunger-related causes, provided countries agree that it coordinates all the different initiatives to fight hunger.

Oxfam is calling for the EU and its member states to fundamentally change their approach to managing migration.

In response to President Biden’s nomination of former MasterCard and Nestlé executive, Ajay Banga, to the position of World Bank president, Christian Donaldson, Oxfam International’s senior policy advisor on international financial institutions, made the following statement: “While Mr. Banga may have extensive experience on Wall Street, we had hoped that President Biden would use this opportunity to ditch the old gentlemen’s agreement of World Bank and IMF appointments in favor of a more transparent and merit-based global process."

European leaders meeting today to discuss ways of boosting economic growth should press ahead with plans for a financial transaction tax (FTT), Oxfam said.