Oxfam's Nicolas Mombrial said: “The IMF and World Bank have admitted the dangers of skyrocketing inequality, but they’re not showing any concrete signs of dealing with the problem.
Oxfam today calls for greater scrutiny and control of the funding for development channeled through financial intermediaries such as private equity funds, banks and credit agencies.
The past ten years have seen a surge in a new type of development lending, in which development finance institutions (DFIs) provide funding through financial intermediaries (FIs) rather tha