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Over a quarter of a billion more people could crash into extreme levels of poverty in 2022 because of COVID-19, rising global inequality and the shock of food price rises supercharged by the war in Ukraine, reveals a new Oxfam brief today. 

Health insurance programs, which are being promoted by some donor agencies and governments in developing countries, are excluding the poorest and most vulnerable people.

Income inequality is high or increasing in 60 percent (64 out of 106) of low- and middle-income countries receiving grants or loans from the International Monetary Fund (IMF) and World Bank, reveals new Oxfam analysis ahead of the 2024 Spring Meetings in Washington D.C. Countries with high levels of income inequality have Gini coefficients above 0.4, the warning level set by the United Nations.

This report examines the impact of the global financial crisis on the budgets of low-income countries, especially their spending to reach the Millennium Development Goals (MDG).

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

Fighting inequality is not just an issue of fairness but an economic necessity. That’s not Oxfam speaking, but the International Monetary Fund today. 

Oxfam spokesperson Luc Lampriere reacting to President Sarkozy today:

"Aside from obvious questions raised by Paul Romer’s resignation, serious concerns remain around the Doing Business report. Hopefully the next chief economist will be given the mandate to bring coherence and fairness to this ranking."

Civil society organizations call for African leaders to move quickly to implement recommendations in UNECA report on Illicit Financial Flows.

Oxfam spokesperson Emma Seery: