CAPE TOWN, South Africa (AP) — South Africa said Thursday it has commissioned a report on global wealth inequality in time to present at the Group of 20 summit it hosts in November.

South Africa, which holds the rotating G20 presidency, said it has appointed American Nobel Prize-winning economist Joseph Stiglitz to lead a group of six experts who will compile the report and present it to world leaders.

Kenya-based nonprofit Oxfam, which releases annual wealth inequality reports, said in June that the wealth of the richest 1% had surged by $33.9 trillion since 2015, enough to eliminate annual global poverty 22 times over. Meanwhile, 3.7 billion people, nearly half the world’s population, live in poverty, the charity said.

Wealthy governments are also making the largest cuts to developmen

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