Despite being a wealthy country at one time, Argentina has more recently faced recurring economic crises, persistent fiscal and current account deficits, high inflation, mounting external debt and capital flight. The major down turn in Argentina’s economy was from 1999 to 2000, and is still causing a feeling of incertitude among its citizens.
In consideration of the country’s economic challenges, a recently developed ecumenical statement about ethical principles for a new global economic system was presented to the Argentinean government officials on 27 October in Buenos Aires, Argentina.
The “São Paulo Statement: International Financial Transformation for the Economy of Life” was presented to officials by the delegates representing Latin American ecumenical organizations and international bodies.
The statement is a common effort produced by the participants of a conference promoted by the World Communion of Reformed Churches, the World Council of Churches and the Council for World Mission, held 29 September to October 5, in Guarulhos, Brazil.