Oxfam urges G7 to tap fraction of military spend for global hunger, debt

12/6/2024 12:19

        Charity Oxfam urged wealthy nations to boost spending on ending hunger ahead of a Group of Seven (G7) annual summit set to kick off in Italy on Thursday, saying that just 3% of G7 military spending could help solve the global food and debt crisis.
        
        The G7 - comprising the United States, Japan, Canada, Germany, France, Italy and Britain - is set to meet in Italy this week where leaders will discuss issues such as climate change, migration and heavy debt loads in developing countries.
        
        Calculating that eradicating global hunger would require $31.7 billion annually and that the G7's share of debt relief for the poorest countries would land at a further $4 billion, Oxfam said these together accounted for just 2.9% of the $1.2 trillion estimated spent by the G7 on the military last year.
        
        Oxfam International's inequality policy chief, Max Lawson, said in a statement, "Governments are finding their pockets run deep to fund war today, but when it comes to stopping starvation they are suddenly broke."
        
        Some 167 million people worldwide are suffering crisis-level hunger or worse, according to the IPC, a worldwide benchmark for world hunger, which has warned that lack of funds is preventing it from meeting growing demands and will force it to reduce the scope of its work.