Participants of the United Nations Economic and Social Council Financing for Development Forum and representatives from the World Council of Churches (WCC), the World Communion of Reformed Churches, the World Methodist Council, the Lutheran World Federation, and the Council for World Mission convened in New York to discuss the converging food, fuel, and debt crises and their impacts on vulnerable communities.
The side-event is part of the "New International Fiancial Architecture" NIFEA initiative and called for inclusive, democratic, transparent, and accountable global economic governance and urged churches, faith-based communities, and the ecumenical movement to support civil society-led initiatives to advocate reforms in the international financial architecture.
Read more about the NIFEA initiative here >>> and below.
For more information see website of the World Council of Churches (WCC) here >>>
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New International Financial and Economic Architecture (NIFEA) Initiative
An economic system based on over-consumption and greed has become firmly rooted in today’s world and it is high time to change this paradigm by working for a New International Financial and Economic Architecture.
Building on the Sao Paolo Statement (download) , the initiative "International Financial Transformation for an Economy of Life" advocates for a global financial and economic system that links finance to the real economy; is founded on the principles of economic, social and climate justice; accounts for social and ecological tasks; and sets clear limits to greed.
Key policy calls are contained in the document Economy of Life for all Now: An Ecumenical Action Plan for a New International Financial and Economic Architecture which outlines actions for churches in tackling public finance and debt, regulation of the financial sector and global economic governance. See statement here >>>
The New International Financial and Economic Architecture (NIFEA) is an initiative of the WCC together with the World Communion of Reformed Churches, Council of World Mission and the Lutheran World Federation.