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Oxfam warns that in spite of the advances made in the last decade, Latin America and the Caribbean remains the region of highest wealth inequality in the world. Its elites continue to accumulate extreme wealth and excessive power.

In reponse to the G7 Summit outcomes today, Oxfam said President Macron put inequality at the top of the agenda, but G7 leaders failed to make meaningful commitments to solve the crisis they have helped create, said Oxfam at the end of the Summit today.

World leaders have an historic opportunity to reform the global economy to ensure that the one in six people who live in extreme poverty benefit from economic recovery, international agency Oxfam said today ahead of the G20 summit in Seoul.

Poor countries are being forced to cut back on their economic crisis-response spending too soon. Education and social protection budgets are particularly badly affected. Oxfam is calling on the IMF to take steps to reverse this trend.

Oxfam spokesperson Elizabeth Stuart said: IMF – Christine Lagarde

The European Commission today unveiled a new strategy on how Europe should protect its access to raw materials and the issue of regulation of commodity markets including farm goods.

Oxfam's response to today’s announcement that Christine Lagarde is stepping down as Managing Director (MD) of the International Monetary Fund (IMF), effective on September 12, 2019.

Reacting to the draft G20 communiqué circulating on Monday 17th, Oxfam spokesperson Carlos Zarco said:

The political will that delivered the Millennium Development Goals is absent from today’s development debate, yet even bolder political leadership is needed if we are to achieve the new Sustainable Development Goals.

Africa’s remarkable growth, driven in large part by a minerals and energy boom, is threatened by illicit capital outflows and widening income gaps.