The Church has long been a representation of hope, with spiritual enlightenment and social welfare to members. In today's economic climate, where many communities experience unemployment and economic insecurity, the Church has the unique opportunity of expanding its sphere of influence through economic empowerment. This is best achieved by establishing a Church-Based Cooperative. This model allows working members of the church to be investors and contribute capital, while underemployed or jobless members achieve substantial employment and economic stability. Based on Christian principles, a cooperative of this nature is not just a social enterprise but an active expression of faith in practice. Understanding the Concept of a Church-Based Cooperative A Church-Based Cooperative is an economic venture in which church members contribute resources to establish business ventures, jobs, and financial development among their congregation. The employed and financially secure members...
With the heavy debt burdens that the Global South faces, questions of economic sovereignty and equitable growth have gained increased urgency. Both the present-day global financial architecture and trade orientation provide significant barriers but also potential opportunities for these countries to break out of their debt crises. Here, this paper discusses ways through which the Global South could surmount such challenges with concrete examples that might illustrate possible pathways. The Challenge of Debt in the Global South The accumulation of debt in the Global South is no doubt linked to structural issues such as dependence on commodity exports, reliance on foreign financing, and exposure to external shocks like fluctuating exchange rates or a rise in global interest rates. The global financial architecture, dominated by institutions like the IMF and World Bank, often conditions loans on structural adjustment policies, which are then implemented with austerity measures...