• Friday, August 12, 2022

Business

Nigeria, Singapore and India Fuel Wealth Gap: Oxfam

Oxfam said inequality had reached crisis levels, with the richest one per cent of the global population nabbing four-fifths of wealth, while the poorest half saw no increase in wealth. (Photo: Daniel Berehulak/Getty Images).

By: Radhakrishna N S

Nigeria, Singapore and India are among countries fuelling the gap between the super rich and poor, aid agency Oxfam said on Tuesday (9) as it launched an index spotlighting those nations doing least to bridge the divide. South Korea, Georgia and Indonesia were among countries praised for trying to reduce inequality, through policies on social spending, tax and labour rights. Oxfam said inequality had reached crisis levels, with the richest one per cent of the global population nabbing four-fifths of wealth created between mid-2016 and mid-2017, while the poorest half saw no increase in wealth. The index of 157 countries is…

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