Together with World Communion of Reformed Churches, World Council of Churches and the Lutheran World Federation, CWM has agreed to explore ways to pursue New International and Financial Architecture (NIFEA). The hope is to replace the present unregulated market economy and unjust financial governance structures, with an economy of life, where all God’s creation is valued. Thus affirming and supporting grass-root economies and considering alternative structures. It is not an easy undertaking but there is great will and commitment to enter the ‘sacred spaced’ with a strong message that another approach is possible.
CWM therefore has a need to create a process of engaging its member churches to begin working on NIFEA from a grass-root level. Firstly, the aim is to focus on financial policies that work on addressing issues of poverty eradication and ecological justice, and influence policy makers to do the same. Secondly, it is to enable churches to start specific initiatives that enhance an economy of life by promoting grass-root economies with schemes such as Savings and Credit Co-operatives as one of the ways of linking finance and economy.
CWM Europe has combined with the Carribbean region and has already accomplished its first two colloquiums. This was in Jamaica in January, 2017, and the UK in September 2017. The final colloquium is planned to take place in September 2018 in Guyana.