Kenny Stancil is senior researcher at the Revolving Door Project and a former staff writer for Common Dreams.
Wealthy Group of Seven nations owe low- and middle-income countries $13.3 trillion in unpaid development aid and climate funding, according to an Oxfam International analysis published Wednesday, two days before the start of the 49th annual G7 Summit.
In 1970, rich nations including the G7 agreed to spend 0.7% of their gross national income on Official Development Assistance . As of last year, however, they had provided just 0.27%. For their part, G7 members contributed a total of $2.8 trillion in ODA from 1970 to 2022, leaving a cumulative gap of $4.49 trillion between what they promised and what they've delivered.'This money could have been transformational,' said Behar.
G7 Imperialism Climate Emergency Oxfam Famine Inequality Fossil Fuels Poverty Debt Colonialism Capitalism Hunger
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