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The economic fallout from the coronavirus pandemic could push half a billion more people into poverty unless urgent action is taken to bail out developing countries, said Oxfam today.

For every new billionaire created during the pandemic — one every 30 hours — nearly a million people could be pushed into extreme poverty in 2022 at nearly the same rate, reveals a new Oxfam brief today. “Profiting from Pain” is published as the World Economic Forum — the exclusive get-together of the global elite in Davos — takes place for the first time face-to-face since COVID-19, a period during which billionaires have enjoyed a huge boost to their fortunes. 

Rich countries have secured almost three times as many courses of a World Health Organisation (WHO)-recommended COVID-19 medicine, Pfizer’s Paxlovid, according to new analysis from Oxfam and the People’s Vaccine Alliance.

Contrary to the positive picture painted by the International Monetary Fund in its 2010 World Economic Outlook, poor countries are being forced to cut back on their economic crisis-response spending too soon.

Even before the devastating January 2010 earthquake, Haiti was one of the poorest and most food-insecure countries on earth. A majority of Haitians live in rural areas and depend o

Millions of poor people in Southern Africa, Asia and Central America face hunger and poverty this year and next because of droughts and erratic rains as global temperatures reach new records, and because of the onset of a powerful El Niño.

This report is an independent review assessing the commitments that have been proposed ahead of COP21, this December in Paris. It shows that there is still a big gap between these proposals and what it will take to avoid catastrophic climate change and presents recommendations on how  this could be changed.

This multi-country research report examines the problem of implementation gaps – government failures to fulfill their legislative obligations to address and prevent violence against women and girls.

Oxfam spokesperson Caroline Pearce said: On economic growth:

The Food and Agricultural Organisation's Food Price Index has today revealed that global food prices have remained at peak levels.