A recent study indicates that the Group of Seven (G7) nations could effectively resolve the global food debt crisis by allocating just 2.9% of their annual military spending.

This revelation from Oxfam comes ahead of the G7 Summit in Borgo Egnazia, Italy. The report estimates that the G7's fair share of debt relief efforts for the world's poorest countries amounts to $4 billion, out of a total of $35.7 billion needed.

“Governments are finding their pockets run deep to fund war today, but when it comes to stopping starvation they are suddenly broke,” said Oxfam International’s Head of Inequality Policy Max Lawson.

“We’re talking about a small commitment with the potential for huge impact. Imagine a world where no one goes to bed hungry and where countries in the Global South can put money into public schools and hospitals instead of debt interest payments. The G7 not only has the means, but the moral and strategic imperative to make this happen,” he added.

According to a UN report, over 281 million individuals are currently facing the severe impacts of extreme hunger and malnutrition. Gaza is grappling with an urgent hunger crisis, which is among the most critical globally, largely due to Israeli ongoing bombing and total blockade.

Oxfam has also called on the G7 to reiterate its demand for "Israel" to adhere to the recent ruling of the International Court of Justice (ICJ) by halting aggression in Rafah and permitting the entry of humanitarian aid into Gaza.

Legal obligations to prevent genocide

Countries have a legal duty under the Genocide Convention and international humanitarian law to employ every possible political, economic, and military method to prevent genocide.

This includes promptly halting the export of arms and munitions that are being utilized in war crimes or contribute to the commission of genocide. The obligation to prevent genocide goes beyond mere complicity, as states are obligated to take decisive action.

“The G7’s collective failure has basically given the Israeli military a free pass to commit terrible atrocities against Palestinian people. G7 leaders must do everything in their power to make sure there is an immediate and permanent ceasefire to stop the death and destruction. They also need to ensure full and permanent access of humanitarian aid through all ground crossings, and the release of all hostages and unlawfully detained Palestinian prisoners,” Lawson said.

"The G7 must also deploy all diplomatic efforts to stop further escalation in Lebanon and Yemen —should regional instability escalate into all-out war, the devastation will spare no one,” he added.

Oxfam's study indicates that G7 countries owe low- and middle-income nations $15 trillion for aid and climate funding. Despite this, they are urging developing countries to make daily debt repayments and interest payments totaling $291 million.