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Commenting on the discussion today about innovative funding for development at the MDG Summit Leading Group on Innovative Finance, Oxfam spokesperson Veronica Hernandez said:

Speaking at the end of the Rio+20 UN Summit on Sustainable Development, Barbara Stocking, Chief Executive, Oxfam GB said:

Heavy rains have swollen river basins in north Bangladesh, leading to severe flooding, submerging towns and destroying homes and crops in a region already suffering due to the coronavirus pandemic, Oxfam said today.

Given the tremendous financing needs, Oxfam supports a strong IDA20 replenishment. We are calling for a robust policy package that is appropriately ambitious for the next three years, aimed at propelling IDA countries forward towards a just economy after COVID-19 that is more equal and inclusive.

What should have been a watershed G20 summit for shared global prosperity fell short of its potential – but some of the strongest ideas, especially the Robin Hood Tax, did overcome the opposition of some countries.

The global repercussions of the Ukraine crisis ―already being felt in fast-rising food, commodity and energy prices― could undermine official aid efforts to help people in other humanitarian hot-spots. 

The COVID-19 pandemic and cost-of-living crisis were a windfall for the ultra-wealthy in the Middle East and North Africa (MENA), who saw their wealth almost double between 2019 and 2022, reveals an Oxfam report published today ahead of the World Bank and International Monetary Fund (IMF) Annual Meetings in Marrakech. 

Finance Ministers from the 11 EU countries that agreed to implement a financial transactions tax again failed to strike a deal on the critical substance on the scope of the tax.

In response to Jeff Bezos’ space flight scheduled for Tuesday, Deepak Xavier, Oxfam International's Global Head of Inequality Campaign, said: "We’ve now reached stratospheric inequality. Billionaires burning into space, away from a world of pandemic, climate change and starvation. 11 people are likely now dying of hunger each minute while Bezos prepares for an 11-minute personal space flight. This is human folly, not human achievement."

G7 finance ministers meeting in Canada this weekend must agree to a Financial Transaction Tax to leverage billions needed to help poor nations deal with the impact of the global economic crisis.