debt

40 former Heads of State and Government are calling for “a new economic coalition of the willing” to urgently tackle inequality in a joint letter released ahead of the Fourth International Conference on Financing for Development in Seville.

New Oxfam analysis ahead of the world’s largest development financing talks in a decade, in Seville, Spain.

The world’s richest 1% increased their wealth by more than $33.9 trillion in real terms since 2015, reveals new Oxfam analysis ahead of the world’s largest development financing talks in a decade, in Seville, Spain. This is more than enough to eliminate annual poverty 22 times over at the World Bank’s highest poverty line of $8.30 a day. But about 60% of low-income countries remain in or at risk of debt distress.

“Rich countries missed a chance to make a real difference in the fight against global poverty and inequality."

Nearly two out of every five families in Yemen buy food and medicines using debt, according to Oxfam research published today. 

Oxfam is deeply concerned by the outcomes of the G7 Summit in Kananaskis. At a time when urgent global crises demand bold and united action, the summit fell short of delivering the leadership the world needs. 

The Group of Seven (G7) countries are set to slash their aid spending by 28 percent for 2026 compared to 2024 levels.

Billionaire wealth has risen three times faster in 2024 than 2023. Five trillionaires are now expected within a decade.

Billionaire wealth grew by $2 trillion in 2024 alone, equivalent to roughly $5.7 billion a day, at a rate three times faster than the year before. An average of nearly four new billionaires were minted every week. Meanwhile, the number of people living in poverty has barely changed since 1990, according to World Bank data.

Billionaire wealth has risen three times faster in 2024 than in 2023. At least five trillionaires are now expected within a decade. Meanwhile, the number of people living in poverty has barely changed since 1990. Inequality is out of control.