Economic and Financial Committee agenda

Economic and Financial Committee agenda - 1 Economic and...

Info icon This preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
1 Economic and Financial Committee Federative Republic of Brazil Encouraging Countercyclical Policies to Avoid a Recurring Worldwide Financial Crisis The General Assembly, Observing that the world has seen the effects of global financial crisis, Recognizing that cyclical nature and tendencies of developed member states is largely responsible for the worldwide financial crisis, Noting further that developing countries have minimal resources to mitigate the effects of a worldwide financial crisis, Understanding that countercyclical policies are necessary to avoid the recurrence of such worldwide financial disasters, Convinced that a collaborative effort among both developed and developing nations is required, 1. Proclaims that countercyclical policies are the primary way to avoid the recurrence of a worldwide financial crisis; 2. Calls upon all developed member states to implement countercyclical economic and social policies to prevent a worldwide financial crisis; 3. Urges the inclusion of developing nations in policy discussions and deliberations so they may implement countercyclical policy in accordance with national needs 4. Suggests that member states implement countercyclical policies to protect national interests from a worldwide financial crisis; 5. Recommends that member states develop programs to address social issues relating to cyclical economic impact and encourage infrastructure development.
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
The General Assembly Economics and Finance The Replublic of Colombia The Financial Crisis and International Trade The General Assembly, Aware of the rippling effect of the global crisis on the economies of the world, Bearing in mind the crucial role of globalized trade in the development process many nations of the world, Noting with deep concern the slowdown in the growth rate of the world economy to 1/2 of a percent in 2009, Taking note of the incidence of protectionist trade measures as a policy to stimulate domestic markets, Noting further the difficulty for export oriented economies, especially emerging ones, to move onto the path of recovery because of the dramatic decreases in their exports, Recalling the purpose of the WTO as the encouragement of free trade by reducing, if not completely eliminating both the severity and incidence of trade barriers, 1. Strongly reaffirms resolutions 61/186 of January 2007 and 62/184 of January 2008; 2. Expresses deep concern at the increased incidence of protectionist trade measures in the event of the global economic downturn; 3. Deplores the fact that increased protectionist policies have hindered the economic recovery of the world as a whole, and of developing and emerging countries in particular; 4. Recognizes the need for increased South-South trade as well as South-South economic cooperation; 5. Calls upon all member states to reverse any recently adopted tariffs, quotas, or barriers of the kind, especially when directed towards developing and emerging countries’ exports; 6. Strongly encourages
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern