LONDON — Oxfam is warning that half a billion people in the developing world could be pushed into poverty as a result of the economic fallout from the coronavirus pandemic.
In the run-up to three key international economic meetings next week, the anti-poverty campaigning group has urged richer countries to step up their relief efforts.
In a report based on research at King’s College London and the Australian National University, Oxfam is calling on world leaders to agree an ‘Economic Rescue Package for All’ to keep poor countries and poor communities afloat. Among the measures it is recommending is the immediate cancellation of $1 trillion worth of developing country debt payments in 2020.
Jose Maria Vera, Oxfam International Interim Executive Director says “for poor people in poor countries who are already struggling to survive there are almost no safety nets to stop them falling into poverty.”