Oxfam says that a 5 percent tax on billionaires and multi-millionaires of the globe could generate $1.7 trillion annually, which would be sufficient to bring 2 billion people out of poverty.
Half of the nations covered cut their spending on social protection and 70 percent slashed education.
As many as 19,700 people are estimated to be dying of hunger every day, over 200 NGOs say in a open letter addressing world leaders gathering in New York for the United Nations General Assembly.
Oxfam calls on rich nations to compensate low-income countries, saying polluting G20 nations are responsible for over 3/4 of world’s CO2 emissions while 10 climate hotspots are collectively responsible for just 0.13%.
Russia's assault on Ukraine has further exacerbated Yemen's humanitarian crisis, raising bread and fuel prices as well as disrupting cooking oil supplies to the war-stricken country.
More than 100 billionaires and millionaires have urged political leaders at the World Economic Forum to tax the rich to collect funds to aid global economic recovery from the pandemic.
World’s ten richest men, including Elon Musk and Jeff Bezos, made $1.3 billion a day during Covid-19 pandemic while 160 million more people fell into poverty.
Finance ministers and central bankers from G20, the countries with the 19 biggest economies and the European Union, green light a "revolutionary" deal to tax multinational companies more fairly.
In a report titled “The Hunger Virus Multiplies,” Oxfam says that the death toll from famine outpaces that of Covid-19, which kills around seven people per minute.
One of the biggest charities in the UK struggles to grapple with workers engaged in sexual abuse of vulnerable people in some of the worlds most hard hit areas.
A new Oxfam report finds the pandemic has aggravated inequality, as the world's richest have made massive gains while the world's poor have fallen further behind.
Pledges came from countries including Qatar, which has promised $100 million, and Germany, which offered 1.58 billion euros ($1.78 billion) in what Berlin said was the single biggest country donation.
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