Ecuador

Countries locked into International Monetary Fund (IMF) austerity programs are also, on average, around twice as vulnerable to the economic fallout from the US and Israel’s war against Iran and the escalating climate crisis, reveals new Oxfam analysis ahead of the World Bank and IMF Annual Meetings in Bangkok, Thailand. 

The coronavirus pandemic is fast pushing developing countries toward a debt crisis that would be catastrophic for their fight against poverty, with the likelihood of multi-billion-dollar defaults that will hurt the entire global economy, warned Oxfam ahead of the G20 Finance Ministers’ meeting this weekend (July 18-19).

Across the developing world, a child from a poor family is seven times less likely to finish secondary school than a child from a rich family, according to a new report published by Oxfam today.

World-wide development organization Oxfam will send its first shipment of aid tomorrow to those people most affected from the 7.8 earthquake that struck Ecuador last Saturday.

Oxfam is responding to a major earthquake off the coast of Ecuador. We will shortly be sending teams to the area to assess the extent of damage and how Oxfam can best assist the Government response.