International Monetary Fund
Economics
Topic: Questioning the possible establishment of an official world reserve currency to replace the US dollar.
Topic Brief
Due to instability in the global economy caused by the recent financial crisis, a light has been shone on the question of the stability and liquidity of global currency reserves. As this topic is debated around the world - most notably with China, supported by Russia, strongly advocating reform of current currency reserves - this committee will consider the question of the possibility of establishing a world currency reserve to replace the current majority US dollar.
Your Background Paper is available HERE.
What is the International Monetary Fund?
Founded in 1945 in the town of Bretton Woods, the International Monetary Fund is a multilateral institution that promotes global economic growth and stability. The Fund provides economic policy, technical, and financial assistance to States, and also gives concession loans to developing countries. As one of the principal economic institutions internationally, the Fund is also well-equipped in its mission to foster global monetary cooperation, facilitate international trade, promote high employment, and to maintain sustainable economic growth.
In reality, the IMF consists of 186 member States, and applies a weighted voting system. However, for the purposes of this Conference, voting shall be at 1 vote per State, and representation shall be limited to 40 States
Your Director