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Oxfam condemns today’s decision by EU Finance Ministers to delay talks on a European Financial Transaction tax (FTT) until December. 

Europe’s crisis must be fixed because it is becoming a serious drain on developing countries already reeling from volatile food prices and aid cuts. But it’s not good enough for the G20 to fixate on Europe and forget about the rest of the world.

The International Monetary and Financial Committee (IMFC) gave its approval today to set up a new IMF-administered Resilience and Sustainability Trust (RST) that will allow wealthy nations to channel some of their Special Drawing Rights (SDRs) to more vulnerable countries. In response, Nadia Daar, Head of Oxfam International’s Washington DC Office, said: “While it is positive that the RST will be accessible to a wide range of countries, including vulnerable middle-income countries hit hard by the COVID-19 pandemic, it is vital that the IMF deliver these funds on terms that are as close to grants as possible."  

Less than eight cents in every dollar raised in tax revenue in G20 countries now comes from taxes on wealth, reveals new analysis by Oxfam today ahead of the first meeting of G20 Finance Ministers and Central Bank Governors in Sao Paulo, Brazil. 

In response to the UNEP Emissions Gap Report published today, Nafkote Dabi, Climate Policy Lead at Oxfam, said: 

International aid agency Oxfam and leading West African farmers network ROPPA today welcomed an initial forecast of an improved harvest in the Sahel region but warned governments and the UN that the food crisis is far from over.

The corporate grip on development finance must be loosened if the Finance for Development Conference is going to help mobilize the resources needed to overcome poverty. Oxfam issued this warning ahead of third Finance for Development Conference which is to be held in Addis, Ethiopia from 13 - 16 July.

As the G5 leaders meet at the Sahel Summit in France on 13 January 2020 to discuss their military response to the Sahel conflict, Oxfam and partners warn of insufficient humanitarian aid and protection of civilians.

Covid-19 has supercharged inequalities: while billionaire´s wealth rises dramatically, austerity is imposed on health, education, and social protection systems across the world. The Festival to Fight Inequality, a space for the growing inequality movement to reconnect and recharge around these struggles and solutions, has never been more crucial.

Finding the opportunity in a crisis is more than a snappy political catchphrase. It is the opportunity for the leaders of the G20 meeting on April 2nd to take long-term decisions in the interests of people and the planet. (a joint agency op-ed on the G20)