The Economic and Financial Committee of the UN General Assembly –or else, “Second Committee”- is among the six GA committees established in 1945. The principal objective of the Committee is to preserve financial stability and promote sustainable development to both developing and developed states. The committee’s mandate extends to macroeconomic policy questions and issues regarding financing for development, human settlements, interdependence and globalization, poverty eradication, food security, as well as communications and information technologies for development. In addition, it takes into consideration the specific problems countries in special situations deal with, such as the cases of the Least Developed Countries (LDCs) or the Landlocked Developing Countries (LLDCs).
What is important to address is that the GA lacks the enforcement power the UNSC undertakes, except in certain issues in which the failure of the permanent members to reach a consensus is impeding the Council’s ability to respond to a case of emergency. Nonetheless, since the GA committees consist of all UN member-states with equal representation, their resolutions carry considerable weight in terms of representing the international community’s opinion. While thinking about the committee and the work you hope to accomplish in it, keep in mind one final point. All issues concerning the global market and economy are of great national concern to all nations.
As delegates in this MUN simulation of the 2nd Committee of the General Assembly, you will also attempt to emulate the great traditions and relive the sixty years of debate, diplomacy and discussion!
ThessISMUN 2018 – UN General Assembly – 2nd Committee
1. International trade and development: Translating Agenda 2030 for Sustainable Development into reality and the role of international trade.
2. Modalities for the intergovernmental negotiations and the adoption of a multilateral legal framework for sovereign debt restructuring processes.