The rising price of food caused by Russia’s invasion of Ukraine and increased energy costs could push a quarter of a billion more people into extreme poverty, Oxfam has warned.
The charity said these new challenges had piled on to the economic crises created by Covid, and called for urgent international action, including cancelling debt repayments for poorer countries.
“Without immediate radical action, we could be witnessing the most profound collapse of humanity into extreme poverty and suffering in memory,” said Oxfam’s international executive director, Gabriela Bucher.
Oxfam’s briefing, released on Tuesday ahead of World Bank and IMF spring meetings next week, said indebted governments could be forced to cut public spending to meet the rising cost of importing fuel and food.
Oxfam said cancelling debt repayments for this year and next could free up $30bn (£23bn) for dozens of the countries facing the biggest debts.
Read more at:
Quarter of a billion people now face extreme poverty, warns Oxfam | Global development | The Guardian
No comments:
Post a Comment