Legal

Regulating the International Monetary Fund: Reworking Austerity for Equity

The legal committee of the United Nations focuses on reforming and regulating international agencies across the globe. In this committee, the spotlight is on the International Monetary Fund.

The International Monetary Fund was created with the intention of lifting less economically developed countries. Since its inception, however, it has developed a reputation for its exploitative loaning as a result of its conditional loaning.

This committee will focus on reforming, or recreating, the IMF to create more fair regulations for the conditions of austerity the loaning agency enforces on its creditors. Whether predicated on cutting public spending, forced bolstering of private assets, or strict guidelines on how a nation can use the capital, the IMF has been able to take advantage of less economically developed areas for decades. That ends today as delegates redefine what it means to help those in need.

TOPIC 1: Reforming Loan systems to empower developing nations

TOPIC 2: Reforming the IMF to aid nations with debt management

Note: Legal will be a single-delegate committee.