ECOFIN: Second Committee, Economic and Financial
Welcome to the Second Committee of the General Assembly at SCMUN 2018!
The Economic and Financial Committee, or Second Committee of the UN General Assembly, is charged with promoting economic development and growth and dealing with issues of global finances.
Topic A: Financial Crisis Management
Financial crises can occur in banks, currencies, and specific markets in any economy and can have devastating effects on the wellbeing of the country and even the global economy as GDP drops and unemployment and public debt soars. The number of financial crises has risen in both occurrence and severity, and it is increasingly important to have mechanisms and plans in place to effectively address and resolve financial crises. As a committee, delegates will be tasked with developing resolutions for current and future financial crises of the global economy.
Topic B: Foreign Direct Investment
Foreign direct investment (FDI) is the practice of a company in one country investing in the business interests of another state. With such prominent divides between the economies of developing and developed countries, FDI poses a wonderful opportunity to assist in the emergence of markets, and receiving countries often benefit from their growing economy. However, foreign direct investment can often be entangled with political motives, economic disequilibrium, and lack of self-sufficiency on the part of the receiving country. This committee will intend to grapple with the positives and negatives of FDI as well as create a framework for fairer practices that benefit both the investing and invested-in countries.