"We're behind in all of those commitments," Laursen Muth said. She acknowledged that the pandemic has led to setbacks on gains in reducing global poverty, in part because local needs are not being heard or addressed. Kirsten Laursen Muth, chief executive officer of Washington-based Joint Learning Initiative on Faith & Local Communities, called for a greater voice for local organizations and community groups within the decision-making process of the complex global financial system. Other webinar participants identified additional steps they consider necessary for developing nations to climb out of the economic morass that the pandemic has compounded. In response, LeCompte called on the more than 260 religious, environmental and labor groups that his organization pulled together in advocating for SDRs to urge the richest nations to donate "currency they don't need" to developing countries. "Countries are going to be able to use this for health care, to prevent crisis, to get people back into jobs," LeCompte said.Īt the same time, $280 billion in SDRs became available to the wealthiest nations, the Group of Seven, or G-7. She acknowledged that the pandemic has led to setbacks on gains in reducing global poverty More than $230 billion in emergency aid became available on Aug. He also said action by the International Monetary Fund to create US$650 billion in emergency reserve funds, known as Special Drawing Rights, or SDRs, will help nations recover. LeCompte credited a United States plan to donate 500 million vaccines worldwide as a significant step toward the global economic recovery from the pandemic. Donate to UCA News with a small contribution of your choice
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