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Economic and Financial Committee (ECOFIN)
"The Economic and Financial Committee (Second Committee), is chaired by H.E. Mr. Abulkalam Abdul Momen of Bangladesh. During this session, it will deal with issues relating to economic growth and development such as macroeconomic policy questions (including international trade, international financial system, and external debt sustainability), financingfor development, sustainable development, human settlements, poverty eradication, globalization and interdependence, operational activities for development, and information and communication technologies for development.
The Second Committee will also consider issues relating to Groups of Countries in special situations - such as the Least Developed Countries (LDCs) and Landlocked DevelopingCountries (LLDCs). It will also consider the item on permanent sovereignty of the Palestinian people in the Occupied Palestinian Territory, including East Jerusalem, and of the Arab population in the occupied Syrian Golan over their natural resources.
At the sixty-fifth session, the Second Committee took action on 44 draft proposals. The Committee is expected to act on a similar number of proposalsduring this year’s session.
In accordance with the on-going process of revitalization of the General Assembly, the Second Committee is engaged in updating its working methods and practices in order to improve the quality of debates and the impact of their deliberations and decisions, as well as to further streamline the Committee’s agenda and programme of work, biennialize agenda items, clusterthe consideration of agenda items thematically, hold interactive “question time” sessions with secretariat officials after the presentation of substantive reports, and actively work to reduce the number and length of draft resolutions adopted during its sessions.
As in previous sessions, the Committee will also schedule a number of side events as part of its programme of work."
--- From the UnitedNations, Economic and Financials Committee
Topic 1
Facilitating Infrastructure Development in the Developing World
The Economic and Financial committee focuses on elements of development through a macroeconomic lens. Furthermore, infrastructure is vital to the global economy in facilitating communication and trade. Because infrastructure is so vital to economic development, the secondcommittee has a responsibility to discuss and provide solutions on this topic to guide the international community forward. The scope of the topic encompasses the Third World as much of the developing world faces the difficulty of acquiring technology, infrastructure, and other forms of development because of volatility or lack of investment interest. Delegates should find this topic engaging becauseevery country is affected in some way by developing infrastructure. Certain states will be receiving aid while others will be providing it. As well, EcoFin may be able to consider and recommend the role of third party players that can help facilitate logistical and managerial assistance with the process of infrastructure development to encourage the completion of the goals set by the committee.Delegates should work to devise concrete solutions on programs or ways to increase such aid to the third world.
Topic 2
Bridging the Income Gap
The Second Committee is currently focusing on macroeconomic policies in relation to development and sustainability. Economic and Financial (EcoFin) specializes in creating framework for development and poverty eradication through economic means (“Economic andFinancial” 1). One of the major problems with achieving the Millennium Development Goals is the disparity between the rich and the poor of many developing countries. Though certain states have shown growth in their Gross Domestic Product (GDP), the poorest part of the state are still severely impoverished compared to the richest percentage points. In developed states, the income gap is still a...