Comitee: ECOSOC
Topic:the question of global inflation and it's impact on the worlds poorest populations
Co submiters: Australia, Lebanon,South Korea, Germany, Russia,USA
Signatories: Australia, Lebanon,south Korea, Argentina, Russia,USA, Pakistan,Canada,
Colombia
Main submitter:china
Recognizing that global inflation poses a significant threat to the stability of nations and
the well being of the worlds poorest populations
Acknowledging the importance of sustainable and inclusive economic growth, poverty
reduction and the promotion of social development to reduce inflation
Emphasizing the importance of reducing inflation by providing social safety nets and
sustainable development
Affirming the need for coordinated international action to address the roots and causes
of inflation and it's impact on the worlds poorest populations
1-Encourages to lower energy,trade and procurement costs by ways such as but not
limited to;
a.reducing tariffs that push up the prices of goods;
b. Ending regulations that increase shipping costs;
C. encourage the production of renewable energy sources such as sun,wind,water Wich
will help in lowering energy costs;
2-Encourages countries to increase public investment in stocks of renewable energy
sources
A.)pushes nations to expand governmental investment in renewable energy stocks
B.)encourages countries to increase government investment in stocks of renewable
energy sources
i.pushes nations to expand spending on renewable energy sources
C.)encourages countries to increase investment in renewable energy sources
I)wind power
1)wind turbines
II) hydroelectric power
1)build dams
III) geothermal energy
1)geysers
2)hot springs
3)steam vents
4)hypothermal vents
IV) Biomass energy
1)Wood waste
2) Agriculture resedue
3)energy crops
D.)promotes nations' boosting of public investment in renewable energy sources
3-Calls for central banks of countries to play major roles by;
a.Enhancing liquidity;
b.Using monetary policies to manage economic fluctuation;
i.Inflation
ii.Control interest rate
1)central banks can influence inflation by adjusting interest rates.higher interest rates
can reduce price rises(inflation) by reducing spending lowering overall demand and
reducing inflation
4-Urges member States to support efforts to strengthen social safety nets by protesting
the most vulnerable population from the impact of inflation by ways such a as but not
limited to;
A.) targeted cash transfer,food assistance programs and social initiatives to shield the
poor from rising prises and ensure Thier necessities are provided such as
I) cash transfer programs
1) programs that provide direct cash payment to low income families helping them
ensure Thier basic needs in times of inflation
II)food assistance programs that offer food essentials to those in need in times of
inflation ensuring that they have access to nutritious meals
1)food stamps
2)food banks
B.) investment in education, healthcare and infrastructure to reduce the vulnerability of
poor communities to global economic shocks and to enhance human capital
5-Calls upon governments to implement (UBI) universal basic income that support
guaranteed payments from the government where all citizens receive a regular
unconditional sum of money from governments regardless of Their economic status that
can help ensure that those who are left behind economic shock avoid poverty by ways
such as;
A.)will provide stability of income
I)UBI provides a steady income floor regardless the individuals income so during
inflation when prices rise individuals purchase power may decrease however having a
guaranteed income will help reduce the impact
B.)reduce poverty
I) by providing a regular income floor
II)which will help alleviate poverty and will decrease the vulnerability of low income
families to get affected by economic shocks
C.) Empowerment and flexibility
I)UBI Impowers individuals to make choises regarding how to allocate Thier resources
based on Thier circumstances and needs
II)this flexibility is valuable during inflation when traditional social safety nets may not
quickly adapt
6-Demands protection of ferms and citizens by ;
a.using targeted financial sector measures this can be done by ways such as but not
limited to ;
i.deferring taxes
ii. Subsidies
1)Provide subsidies on essential goods and services such as food and fuel and other
basic services to shield low income households from the impact of inflation
iii.ensurance
1)life ensurance
2) health insurance
iv.social support
1)social welfare programs
a.providing access to affordable healthcare services to including
I.regular medical check ups
II.vaccinations
b.suplorting educational programs by providing;
I.scholarships
II.grants
III.tututional assistance
c.offering housing assistance that is affordable for individuals or families in need
I)rental subsidies
II) housing vouchers
II) transitional housing
d.offering disability support services for disabled individuals by ways such as but not
limited to;
I) financial assistance
II) healthcare coverage
III) vocational rehabilitation
IV) assistive technology
7)urges governments to support entrepreneurship by encouraging an environment that
supports start up businesses to create new job opportunities by ways such as but not
limited to;
A.)creating mentorship programs which will
I)let start ups gain experience from experienced entrepreneurs by hosting meetings
II)provide business courses throught;
a.Online courses
C.) Support start ups in accessing international market through
i) trade missions
ii)export assistance programs
iii)Market research
8) Requests governments to invest in programs that offer career counseling and support
job placement to enhance employment;
A.)offering job transition assistance by providing;
I)adequate HRC/human resource management assistance
1)will help in developing employees with work experience to adjust to new jobs learn
new skills and track performances
B.)offering career counseling that could help individuals explore Thier career options,
identification of suitable jobs,and development of realistic career goals by offering
guidance on
I)resume writing
II)interview preparation
III)job search strategies
9)Encourages international institutions including the international monetary fund(IMF)
and the world bank to;
A.) providing technical assistance and policy advise to member states to develop and
Implement effective inflation control measures
I) policy coordination
1)by Implementing macroeconomic policies that can help manage inflation globally
B.) support capacity building efforts to enhance the ability of developing countries to
manage inflation and the impact it has on poverty and inequality
I)by strengthening Their institutional capacity to compose and implement effective
monetary and fiscal policies this assistance include;
1) training for policy makers
2) improving data collection
3)enhancing regulatory frameworks
C.) Explore innovative mechanisms to help provide assistance to countries facing
severe- inflation challenges
10-recommends governments to invest in educational and training programs to provide
workers with the skills needed to adapt to market chang by ways such a as but not
limited to;
A.)Stem education;
I)by focusing on STEM skills and skills needed to adapt to a changing market;
1)courses in data analysis
2)machine learning
3)programing
4) robotics
B.) offering vocational training
I)trade schools
II)on the job training
III)standalone courses
C.) supporting liflelong initiatives in soft skills that are needed in the market
I) communication
II) leadership
III)team work
IV)social skills
V)problem solving