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New Oxfam research shows that four pharmaceutical corporations – Abbott, Johnson & Johnson, Merck & Co (MSD), and Pfizer – systematically hide their profits in overseas tax havens. This activity could deprive developing countries of more than $100 million every year – money that is urgently needed to meet the health needs of people in these countries.

Reacting to the communique issued at the conclusion of third G20 Finance Ministers and Central Bank Governors (FMCBG) meeting under the South African presidency.

The richest 1% now have more wealth than the rest of the world combined. The fight against poverty will not be won until the inequality crisis is tackled.

G20 finance ministers met in St. Andrews, Scotland, on 7 November 2009. Oxfam reacts to their communiqué.

Oxfam welcomes today’s European Parliament vote in favor of legislation which will oblige EU-listed and non-listed big oil, gas, mining and logging companies to declare payments they make i

The gap between the rich and the rest is extreme and growing. G20 nations are not immune.

With its new long-term budget, the EU missed a chance to put itself at the forefront of a fair and green recovery from the coronavirus pandemic, Oxfam said today.

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.

Commenting on the discussion today about innovative funding for development at the MDG Summit Leading Group on Innovative Finance, Oxfam spokesperson Veronica Hernandez said:

European Commission President José Manuel Barroso promised today he would announce an extra €1 billion for the Millennium Development Goals (MDGs) at a major UN summit in New York later this month.