US EditionAfrica: Oxfam Reaction to Stiglitz Extraordinary Committee On Inequality Report for South African G20
- On Tuesday, a G-20 taskforce set up by South African President Cyril Ramaphosa called for creating an international panel to tackle inequality, urging G20 leaders at the Johannesburg summit to act.
- The G-20 taskforce proposed creating an international panel to monitor rising inequality, citing global shocks like Covid-19, the war in Ukraine, and trade disputes as key drivers.
- Between 2000 and 2024, data show the richest 1 per cent captured 41 per cent of new wealth while the poorest 50 per cent gained only 1 per cent, and 83 per cent of countries meet the World Bank definition of inequality.
- The taskforce proposed modelling the new body on the IPCC, saying the International Panel on Inequality would analyze land ownership, tax avoidance, and inform governments and policymakers.
- The G20 represents 85 percent of global GDP, 75 percent of international trade, and two-thirds of the world's population, with South Africa holding its first African presidency, as Ramaphosa called for a panel to address inequality.
23 Articles
23 Articles
The world has understood that we are faced with a climate emergency. Now it must recognize that there is also an emergency of inequality. It is the conclusion of the first ad hoc report commissioned by the South African G20 presidency to a group of experts chaired by Nobel Prize winner Joseph Stiglitz and composed of the economist Jayati Ghosh, who as Stiglitz sits in the Independent Commission for the Reform of the Taxation System Reform of the…
Africa: Oxfam Reaction to Stiglitz Extraordinary Committee On Inequality Report for South African G20
Press Release - In reaction to the Stiglitz G20 Extraordinary Committee Report on Inequality published today, Amitabh Behar, Executive Director of Oxfam International, said:
'Inequality crisis' threatens democracy, experts warn G20
Wealth inequality is a global emergency that threatens democracy and social cohesion, experts warned on Tuesday, urging the Group of 20 (G20) leaders meeting in South Africa this month to establish a panel to tackle the crisis.
Global Inequality Crisis: Call for Action
Global Inequality Crisis: Call for Action A report commissioned by the South African Presidency of the G20 highlights critical global inequality, with India's wealthiest 1% expanding their wealth by 62% from 2000 to 2023.The study, led by Nobel laureate Joseph Stiglitz, cautions that global inequality is at 'emergency' levels, threatening democracy, economic stability, and climate progress.The report proposes an International Panel on Inequality…
The world is going through an “emergency of inequality.” That is the main warning in the first report on inequality, commissioned by the presidency of the G-20. The study, presented this Tuesday, provides new figures that exemplify the scope of this problem and proposes the creation of an international and independent panel on inequality to guide public policies.
According to a study, between 2000 and 2024, the richest one percent of the world's population accounted for about 41 percent of global wealth. By comparison, only one percent benefited the poorest 50 percent of the world's population.
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