Additional spending in pandemic failed to reach all, Oxfam Report

The world has spent additional 11.7 trillion dollars to cope with the fallout of the pandemic situation. However, research shows that 2.7 billion people from the whole of the globe didn't have any social protection to cope with economic crisis. The research report titled 'Shelter from the Storm' is published by Oxfam in partnership with Development Pathways.

"The coronavirus united the world in fear but has divided it in response. The pandemic sparked a laudable global effort that reached more than a billion more people with social protection support over 2020 but, as of today, more people still have been left behind entirely. That need not be so" Oxfam Executive Director Gabriela Bucher said.

The study shows an explicit inequality in the per capita spending in developed countries and low-income countries, which are 695 dollars and in the range 28 dollars to as low as 4 dollars respectively. Non-financial help gathered by developing countries such as food aid has failed to bridge the gap in social protection.

Oxfam asked for additional spending of 2 per cent of GDP in social protection programmers and instructed to ensure a minimum income security for children, the elderly, mothers, and people living with a disability. In addition, Oxfam called out for the establishment of Global Fund for Social Protection.