Economic and Financial Committee ECOFIN

The Economic and Financial Committee (ECOFIN), is the Second Committee of the UN General Assembly focused on economic and financial issues. In this committee, delegates will be focused on discussing the economic state of their country and of the world, specifically through analysis of member state economic policies, economic growth and stability, and global financial issues. In addition to its work within the UN, ECOFIN also collaborates with other international organizations such as the International Monetary Fund and the World Bank to support global economic development. 

In this committee, delegates will be focused on the topic of Empowering Women through New Forms of Finance. While this is a nebulous topic, delegates will be encouraged to focus on some specific issue areas–financial literacy, cryptocurrency, microloans, and technological access. Financial literacy programs for women can provide access to resources and knowledge necessary for managing finances and building wealth. Cryptocurrency can provide an alternative to traditional financial systems, offering greater financial privacy and security, especially important for women in countries where transactions may be monitored or controlled by the government. Microloans can be used to empower women, especially in developing countries, where they may have limited access to traditional credit or face discrimination. Technological access is another important issue area within the topic of empowering women through new forms of finance, as women in developing countries often have limited access to technology, which can hinder their ability to take advantage of financial resources and opportunities. Ultimately, empowering women through finance can promote greater gender equality and support sustainable economic development.

Delegates should note that ECOFIN will be the only single topic GA committee at MUNUC 36. As you consider and discuss the challenges presented by the topic of Empowering Women through New Forms of Finance, bear in mind the unequivocal necessity for multilateral collaboration and a wide variance of perspectives for effective resolutions to be passed. The expansive nature of this topic will require inventive and unconventional solutions, tackling not only short-term economic issues, but also the long-term impact on the economic wellbeing of women across the globe.