Lisa Nestor with Ellen Johnson Serleaf, Former President of the Republic of Liberia during Meridian 2020.

Lisa Nestor:  Today’s theme is inclusion.  I would like to dive right in to that topic with you and get a bit of your perspective on the role of financial inclusion and empowering economic growth and social well-being in countries. Is that really important this financial inclusion as something that has a positive impact form your experience.

Ellen Johnson Serleaf:  We are now living in different times.  This year 2020, has exposed the fragility of the current state of global systems. The IMed has already said that global growth is likely to decline by over 4%.

The International Labor Organization has said that we can expect the global work force – some half of them may lose their jobs and their livelihoods because of the locking of the Covid 19 and millions of young children are out of school. Covid 19 may not have caused it but it exacerbated it.  There is one thing that is missing in all of this.

If we are going to do something about the financial system, we must realize that those excluded are those that have been disadvantaged most.  Those are women.  And, this is why we have this calling for change, calling for addressing inequities, unless we can bring them in, unless the new global financial architecture will be able to reach those who have been left behind.  We can be assured that we are not going to be prepared for any pandemic, as we have seen the most developed systems were not prepared because of the inequities and inequalities that have existed in the world.

We do need financial infrastructure, financial intermediation, but how do we ensure that they reach everyone. What can we do to change the architecture so that they can reach everyone?  They are essential.  We need if for growth, we need it for trade.  We need that to make sure that there are jobs but they also need to know that we have got to change the system of access – the access to financial intermediation.

Lisa Nestor:  I would say we are absolutely in line with you in that regard.  And, at the Stellar Development Foundation we do see distributed systems on blockchain technology as a way from the technical event.  And, at the Stellar Development Foundation, we do see distributed systems on blockchain technology as a way from the technical advantage point. To be able to reach and serve and provide infrastructure that is capable of including everyone and providing services to everyone, but that said, you know from my experience, technology is really only half of the equation. You have to actually bring in community members you have to actually understand their needs and design technologies and solutions that are going to facilitate and foster that type of participation.