See you all this Thursday at 6pm in Huxley 140 as always. We will - TopicsExpress



          

See you all this Thursday at 6pm in Huxley 140 as always. We will be debating the BRICS initiative to create the Contigent Reserve Arrangement and the potential for future collaboration. Our Chief of Staff, Enric, will be chairing this session. Please find below a short description of the topic as well as a link to the OxIMUN 2014 Study Guide on this topic. At the end of the session, we will be talking about writing position papers for the benefit of those attending OxIMUN and CUIMUN. Topic Summary The BRICS currently represent more than 40% of the worlds population and account for some of the currently fastest growth rates, nevertheless the structure of the IMF does not allow for an equally grave and weighty role in the decision-making process. In 2014, the leaders of BRICS created the New Development Bank (NDB), with the purpose of mobilizing resources for infrastructure and sustainable development projects in BRICS and other emerging and developing economies. The Contingent Reserves Arrangement was also created with a double purpose. Firstly, as preventive mechanism to avoid a speculative attack on the national currency. Secondly, to control massive outflows of capital from the BRICS countries. However, the CRA faces criticisms including possibly weakening the IMFs role as a global financial institution. Delegates would be able to critically discuss the objectives, practicality, strengths, and flaws of the CRA with reference to the IMF, BRICS, and other stakeholders through this topic. OxIMUN Study Guide oximun.org/downloads/studyguides/IMF%20Study%20Guide.pdf (you will have to scroll down through the strange page numbering to Topic B)
Posted on: Wed, 22 Oct 2014 11:12:46 +0000

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