The world's wealthiest countries, Group of Seven nations, owe the poor ones $13 trillion in unpaid development aid and climate change pledges, British Charity Oxfam said.
Instead of fulfilling their commitment, they have been demanding poor nations to pay $232 million a day in debt repayments, the charity said.
“Wealthy G7 countries like to cast themselves as saviors but what they are is operating a deadly double standard —they play by one set of rules while their former colonies are forced to play by another," said Oxfam Executive Director Amitabh Behar said in a statement.
"This has to stop. It’s time to call the G7’s hypocrisy for what it is: an attempt to dodge responsibility and maintain the neo-colonial status quo."
Leaders of Group of Seven nations are meeting in the western Japanese city of Hiroshima.
They are likely to discuss efforts to strengthen the global economy and address rising prices that are squeezing families and government budgets around the world, particularly in developing countries in Africa, Asia and Latin America.
Oxfam said the meeting was happening at a time billions of workers face pay cuts and rises in the prices of basics like food.
"Global hunger has risen for a fifth consecutive year, while extreme wealth and extreme poverty have increased simultaneously for the first time in 25 years," it said.
It urged the wealthy nations to cancel debts of poor countries that need it and meet their commitment to provide $100 billion annually to help poorer countries cope with climate change.
