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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."  

The coronavirus pandemic is leaving a trail of devastation in low-income countries. This briefing aims to shine a light on the debt owed to private creditors by five African countries: Ghana, Kenya, Nigeria, Senegal and Zambia. It outlines the steps which the G20 needs to take immediately to avert further economic chaos. 

People living in North and South Kivu, DRC are still facing daily threats, extortion and violence at the hands of armed groups and government forces.

EU and African leaders neet to use the Valletta summit to address the causes forcing people to flee their homes if the meeting is to benefit the populations of the African countries taking part. The EU must let human rights be the focus at Valletta and not prioritize the EU's own agenda of tightened borders and increased state security.

Ahead of the G20 Summit in Rome, Italy, Oxfam calls on G20 leaders to take urgent action to dramatically scale up manufacturing and access to COVID-19 vaccines around the world, promote a fair economic recovery, fight hunger, lower dangerous greenhouse gas emissions, and help the poorest countries adapt to the climate change already happening.

More than half (57 percent) of the world’s poorest countries, home to 2.4 billion people, are having to cut public spending by a combined $229 billion over the next five years, reveals new analysis by Oxfam today ahead of the World Bank and International Monetary Fund (IMF) Annual Meetings in Marrakech. 

The COVID-19 pandemic has worsened the extreme inequality in Southern African Development Community (SADC) countries and pushed millions into poverty, reveals a new analysis from Oxfam, Norwegian Church Aid (NCA) and Development Finance International (DFI).

Today, the Development Assistance Committee of the Organisation for Economic Cooperation and Development (OECD DAC) published its preliminary figures on the amount of development aid for 2022. 

The 1,000 richest people on the planet recouped their COVID-19 losses within just nine months, but it could take more than a decade for the world’s poorest to recover from the economic impacts of the pandemic, reveals a new Oxfam report today. "The Inequality Virus" is being published on the opening day of the World Economic Forum’s ‘Davos Agenda’.  

Rising inequality poses a dire threat to continued prosperity in Asia, where an estimated 500 million people remain trapped in extreme poverty, most of them women and girls.