Dhaka, Nov. 22 -- Billionaires in the world's leading economies made $2.2 trillion last year, which would have been enough to lift all the world's poor out of poverty, global campaign group Oxfam said Thursday.

The British-based charity urged this weekend's summit of the powerful G20 group of major economies to back initiatives by the host, South Africa, to address massive global wealth inequality and the debt undermining developing countries.

Billionaires in the 19 countries that are part of the grouping made $2.2 trillion last year as their combined wealth grew to $15.6 trillion, it said, basing its figures on the Forbes list.

"The annual cost to lift up the 3.8 billion people who currently live below the poverty line is $1.65 trilli...