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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.

The richest one percent of the world’s population are responsible for more than twice as much carbon pollution as the 3.1 billion people who made up the poorest half of humanity during a critical 25-year period of unprecedented emissions growth.

Up to a quarter of a billion people are at risk of falling into extreme poverty this year due to the COVID-19 pandemic, climate crisis and the crisis in Ukraine. Global inequality threatens to rise massively unless more is done to effectively address this situation.  

Global food prices will more than double within 20 years, as a new age of crisis forces the collapse of our global food system.

Family farming and small-scale agriculture play an important role in food production. However, limited access to resources such as land, water, seeds, and finance can be a barrier for these farmers to access markets under equitable conditions. 

Plus, three other critical questions ahead of Friday’s G20 summit.

Poor countries are cutting back investment in farming, health service and services to help women because of fears about rising debts and the impact of the economic crisis, according to a new database launched today. 

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.