More than 60 Catholic groups and individuals — including sister-supported organizations and congregations — have signed a letter urging President Joseph Biden to support an initiative promoting debt relief for low- and middle-income countries. Biden leaves office Jan. 20.
The letter — whose signatories include the Sisters of Mercy; the Maryknoll Office for Global Concerns; Pax Christi USA; and Network — asks Biden to support a new issuance of Special Drawing Rights, or SDRs, which are a reserve asset created by the International Monetary Fund.
The assets can be exchanged for hard currency, or be used to pay off debts, or can keep on countries’ balance sheets, helping them…
