JOHANNESBURG: Billionaires across the world’s major economies accumulated a staggering $2.2 trillion last year — an amount sufficient to lift all 3.8 billion people living below the poverty line — global charity Oxfam revealed on Thursday. The wealth of billionaires in the 19 G20 countries rose to $15.6 trillion, according to figures based on the […]
global inequality
Global panel urges action on inequality
Ahead of the G-20 summit, South Africa has proposed the creation of an international panel on inequality, modelled on the Inter-Governmental Panel on Climate Change. The proposal comes from an ‘Extraordinary Committee of Independent Experts’ tasked with addressing stark global disparities. The committee highlighted the economic, political, and societal consequences of extreme inequality, noting that […]