Economic and Financial Committee
The Economic and Financial Committee of the United Nations deals with issues relating to economic growth and development on a global scale.
Chair: isabella impalli
Welcome to ECOFIN! My name is Isabella Impalli. I hail from Northern New Jersey and am a member of the Princeton Class of 2022. At Princeton, I plan to major in either Classics or Architecture. Outside of Model UN, I serve as the Secretary for Princeton’s Sailing Team. I am so excited for PMUNC, and I can’t wait to meet you all! Please feel free to email me with any questions.
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Topic A: Addressing Global Food Insecurity and Sustainable Agricultural Development
The global population has more than quadrupled in size since 1900. As the population continues to grow, global food insecurity, loosely defined as inadequate access to safe, plentiful, and nutritious food, is a looming threat. Of course, there are regions, nations, and cities that are currently suffering from food insecurity. In recent years, ECOFIN has ranked this topic among its top goals. Nations must pull together in order to alleviate existing emergencies in certain areas but also prevent food insecurity from becoming an absolute global crisis. A large part of the threat comes from worldwide agricultural practices that are wasteful or unsustainable. Delegates are encouraged to think not only of short term “band-aid” solutions for suffering regions, but preventative frameworks for lasting food production. These programs would of course come at a cost, and it is important to consider how any resolution concerning the regulation and/or stimulation of domestic agricultural and food production industries would affect the global economy.
Topic B: Restructuring economic aid to indebted countries in Africa
As it develops, Africa is increasingly looking to more developed nations for financial assistance. Many African countries, specifically the Democratic Republic of the Congo, Mozambique, the Sudan, and Egypt have exceedingly worrying ratios of government debt to GDP without sufficient means to pay off what they owe. Currently, a lot of Foreign Direct Investment to Africa is provided bilaterally. As expected, these deals rarely expressly benefit the countries in Africa. Notably, the Democratic Republic of the Congo recently restructured its debt to China, and Mozambique is nearing a deal with its creditor Russia. While temporary bilateral agreements can be made, it is clear that international cooperation is required to avert a systemic debt crisis and release Africa from its heavy reliance on other nations so that it can properly develop and flourish. Delegates are encouraged to consider precedents for debt forgiveness/relief and other restructuring initiatives in addition to keeping in mind the UN’s development goals.