United Nations Secretary-General Antonio Guterres says that wealthy nations should help poor countries fight against poverty. According to Guterres, rich countries should provide $500 billion or one-fifth of their incomes annually to help others. Meanwhile, several countries have yet to keep their promise and have not allocated 0.15-0.2% of gross national income (GNI) for this purpose, the Secretary-General pinpointed. Notably, less developed countries have been struggling with a continuing crisis exacerbated by climate change. Guterres assured that the poorest nations were being left behind in the “digital revolution” and that the Ukraine crisis had only risen the prices they pay for food and fuel. Confederation of independent charitable organizations Oxfam reported that 1% of the richest people in the world had grabbed nearly two-thirds or $26 trillion of wealth created since 2020. The rest obtained only $16 trillion or 37% of all new wealth. The UN called for taxing all rich people to reduce this inequality. If an additional 5% tax on billionaires were introduced, as many as 2 billion people could be saved from poverty.
