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Richest 1% Amass $34 Trillion as Low-Income Nations Teeter on Bankruptcy

Oxfam warns that rapid wealth gains for the global elite are undermining poverty alleviation efforts ahead of the Fourth International Conference on Financing for Development

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Overview

  • The wealth of the world’s top 1% has increased by over $33.9 trillion in real terms since 2015.
  • That gain equals 22 times the resources needed to lift everyone above $8.30 a day.
  • G7 countries plan to cut public development aid by 28% in 2026 compared to 2024, risking vital poverty relief programs.
  • Sixty percent of low-income nations are on the brink of bankruptcy, driven by punitive debt servicing and outsized exposure to private creditors.
  • Oxfam is calling on governments to reverse rising inequality and fundamentally rethink the global development financing system.