ECOFIN: Economic Impacts of Russian Aggression in Ukraine
GA Committee | Chair: Ayan Sinha
Topic 1: De-dollarization
The world's reliance on the United States dollar as the main global reserve currency has long been a cornerstone of the international economic order. However, recent years have witnessed a growing chorus of voices advocating for a "de-dollarization." These efforts aim to transact in alternative currencies and reduce global dependence on the United States Dollar. Ever since the beginning of Russia’s war in Ukraine, the BRICS nations have persistently kept their currencies de – valued as compared to the USD and the Euro. What are the implications of this shift and where does your country fit in?
Topic 2: The Economic Impacts of the Russia-Ukraine War
Russian Aggression in Ukraine has not only raised serious humanitarian concerns but also triggered far reaching economic impacts around the globe. These complicated economic issues range from disrupted trade routes, to displaced populations, to strained fiscal capacities of modern nations, to energy supply uncertainties. Ukraine also finds itself in a unique position. Many lethal weapons lent to Ukraine will eventually need to be payed back, leaving Ukraine with no ability to pay back Western Nations. How can the ECOFIN face the incoming financial costs of the war?
The world's reliance on the United States dollar as the main global reserve currency has long been a cornerstone of the international economic order. However, recent years have witnessed a growing chorus of voices advocating for a "de-dollarization." These efforts aim to transact in alternative currencies and reduce global dependence on the United States Dollar. Ever since the beginning of Russia’s war in Ukraine, the BRICS nations have persistently kept their currencies de – valued as compared to the USD and the Euro. What are the implications of this shift and where does your country fit in?
Topic 2: The Economic Impacts of the Russia-Ukraine War
Russian Aggression in Ukraine has not only raised serious humanitarian concerns but also triggered far reaching economic impacts around the globe. These complicated economic issues range from disrupted trade routes, to displaced populations, to strained fiscal capacities of modern nations, to energy supply uncertainties. Ukraine also finds itself in a unique position. Many lethal weapons lent to Ukraine will eventually need to be payed back, leaving Ukraine with no ability to pay back Western Nations. How can the ECOFIN face the incoming financial costs of the war?