The Oxford Committee for Famine Relief (Oxfam) has published a report in which it points to countries that are over-indebted to the International Monetary Fund (IMF) and the World Bank (WB).

IMF and WB loans to Mozambique increase income imbalance index

The document states that this condition accentuates the socio-economic differences between countries in this condition, and suggests writing off half of the debts in order to reduce inequalities.

The study was presented during the Spring Meetings, an annual meeting held by the World Bank and IMF, where topics such as the economy and global development were debated.

According to Oxfam's calculations, over the last two decades, for the wealth of billionaires to reach the point of diminishing, it would need to be taxed at an annual rate of more than 8% on net wealth in all countries.

The organization points out that higher taxes on the income of the richest could raise trillions of dollars to cover financing deficits. (source: CNN Brasil)