A recent Oxfam Intermón report indicates that the wealth of the world's richest 1% has increased by $33.9 trillion since 2015. This amount could potentially eradicate global poverty for the next 22 years.
Simultaneously, over 3.7 billion people live below the poverty line, with nearly half the global population struggling. The report highlights the growing global inequality, with the majority of wealth controlled by countries in the Global North.
Oxfam calls for governments to address inequality by eliminating tax havens, taxing inheritances, and canceling debts in the Global South. The IV International Conference on Financing for Development will be held in Seville from June 30 to July 3, 2025, to discuss these issues.