Economic and Financial Affairs Council

General Assembly

Topic A

The Impacts of International
Money Laundering

Financial gain is a prevalent motivation for committing crimes, and it remains integral to the ubiquitous presence of criminal activity. The proceeds from criminal activity intensify the effects of the wealth gap in communities, increase the chances of recidivism, and equip offenders with the means to further perpetuate corruption among authorities. However, successful money laundering is essential to the fulfillment of the aforementioned impacts.

Topic B

Economic Reconstruction of Post
Conflict States

The reconstruction of post-conflict states is integral to a cohesive global community. Traditionally, foreign aid has consisted of assets such as humanitarian support and infrastructure. However, aid now takes on a variety of forms, including financial aid that complements the aforementioned assets to support a nation’s weakened economy during or post times of conflict. In significant conflicts, such as a war, nations shift into a “war economy” in which the production and distribution of resources are modified to prioritize military and defense initiatives. This includes the rationing of goods and services. Although stronger military and defense mechanisms will sustain a nation during conflicts, many of the other long-term investments such as healthcare or education are neglected. Furthermore, some countries that are unable to afford their expenditure tend to print more cash—this results in inflation, the decreasing of a unit of currency’s value and a rise in the price of goods and services.

[email protected]

Dais team

Tristen Wong

Director

Laura Choi

Chair

Daniel Kim

Chair

About

ECOFIN

The Economic and Financial Affairs Council (ECOFIN) functions as a forum to discuss issues relating to global finance and economic matters, with some of its notable agenda items including sustainable development and poverty eradication. ECOFIN was established as the second of six general assemblies.

Since its inception in 1945, this committee has grown to include 193 member states. Once a year, these nations will congregate to generate and review possible resolutions to achieve global economic growth and development. The plethora of topics addressed by ECOFIN includes both international and domestic issues, further demonstrating this committee’s commitment to exemplifying its values.

As a general assembly, ECOFIN cannot mandate any of its resolutions because the committee does not want to prevent the infringement of a nation’s sovereignty. Thus, a country may choose to accept, reject, or modify any of the resolutions presented. However, this does not diminish the importance of ECOFIN’s initiatives. Many of the implemented recommendations, such as foreign aid programmes, have consistently reduced financial stress and significantly helped the economic development of its recipients.