Draft Resolution 1.2

Committee: The Economic and Social Council

Topic: The Reform of International Monetary System

Sponsors: UK, France, Germany, Australia

Signatories: China, Brazil

The Economic and Social Council,

Due to a liquidity shortfall in the United States banking system, the financial crisis of 2007-2010 contributed to the failure of key businesses, declines in consumer wealth, substantial financial commitments incurred by governments, and a significant decline in economic activity. Both market-based and regulatory solutions have been implemented or are under consideration, while significant risks remain for the world economy over the 2010–2011 periods. The members of ECOSOC committees have worked together with urgency and determination to translate their agreement into action. In April, 2009, a prudent statement delivered in London Summit comprises of such practices and plans as restoring growth and jobs, strengthening financial supervision and regulation and global financial institutions, ensuring a fair and sustainable recovery for all and so forth. At the meantime, IMF received an additional $850 billion of resources to support growth in emerging market and developing countries. The Seoul Summit in 2010, deepening the consensus of the London Summit, has emphasized the significance of considering development as a long-term topic in G20 and of international cooperation.

In order to restore the economic growth and rebuild trust, however, we shall focus on the reform of international monetary system. Firstly, financial regulation and supervision are major concerns of the new monetary system; booming the economy, meanwhile, is the problem we now confronting with; and mulitiplorization of currency becomes the trend in international monetary system. This draft resolution aims at bettering international monetary system through three fundamental ways. To that end we claim the following points practical and crucial:

1, Strengthening the supervision and regulation of international monetary system;

(a) Constructing a flexible monetary system;

(i) Undertake macroeconomic policies to ensure ongoing recovery and sustainable growth and enhance the stability of financial markets, in particular moving toward more market-determined exchange rate systems, enhancing exchange rate flexibility to reflect underlying economic fundamentals, and refraining from competitive devaluation of currencies. Advanced economies, including those with reserve currencies, will be vigilant against excess volatility and disorderly movements in exchange rates. These actions will help mitigate the risk of excessive volatility in capital flows facing some emerging countries;

(ii) Reform international financial institution. IMF shall better reflect the changes in the world economy through greater representation of dynamic emerging markets and developing countries. These comprehensive quota and governance reforms will enhance the IMF’s legitimacy, credibility and effectiveness, making it an even stronger institution for promoting global financial stability and growth.

(iii) Add core elements of a new financial regulatory framework, including bank capital and liquidity standards, as well as measures to better regulate and effectively resolve systemically important financial institutions, complemented by more effective oversight and supervision. This new framework will ensure a more resilient financial system by reining in the past excesses of the financial sector and better serving the needs of our economies.

(b) Strengthen global financial safety nets;

(i) Strengthen global financial safety nets, which help countries cope with financial volatility by providing them with practical tools to overcome sudden reversals of international capital flows.

(ii) Continue to monitor and assess ongoing implementation of the commitments made today and in the past in a transparent and objective way. We hold ourselves accountable. What we promise, we will deliver.

(iii) Better reflect the perspective of emerging market economies in financial regulatory reforms; strengthen regulation and oversight of shadow banking; further work on regulation and supervision of commodity derivatives markets; improve market integrity and efficiency; enhance consumer protection; pursue all outstanding governance reform issues at the IMF and World Bank; and build a more stable and resilient international monetary system, including by further strengthening global financial safety nets. We will also expand our MAP based on the indicative guidelines to be agreed.

2. Booming the global economy;

(a) Fighting protectionism and promoting trade and investment;

(i) Keeping markets open and liberalizing trade and investment as a means to promote economic progress for all and narrow the development gap. These trade and investment liberalization measures will help the Framework objectives for strong, sustainable and balanced growth, and must be complemented by our unwavering commitment to resist protectionism in all its forms.

(ii) Call on relevant international agencies to coordinate a collective

multilateral response to support trade facilitation; and to support measures to increase the availability of trade finance in developing countries,

(b) Creating more jobs;

Improve the development of employable skills matched to employer and labor market needs in order to enhance the ability to attract investment, create decent

jobs and increase productivity. We will support the development of internationally comparable skills indicators and the enhancement of national strategies for skills development.

(c)Accelerating the development of the emerging market;

Continuing the dynamic process aimed at enhancing the voice and representation of emerging market and developing countries, including the poorest, through a comprehensive review of the quota formula by January 2013 to better reflect the economic weights; and through completion of the next general review of quotas by January 2014.

3. Establish a diversified international currency reserve system;

(a) Consolidate the status of Euro. Eastern Europe, Southern Europe and the countries surrounding the Mediterranean Sea can peg the currency with the euro and even join the euro in the future.

(b) Study the creation of "regional monetary units" and have made an agreement to regard the creation of regional currency units as one of the long-term goals to promote regional integration.

(i)Rationally design of the process of RMB exchange rate system reform, based on the Asia-Pacific region to achieve the internationalization of RMB.

(ii)Promote the internationalization of the yen.

(c)The Latin American can use ruble in the area.

4. Underlines that further decisions will be required, should additional measures be necessary;

5.Decides to remain actively seized of the matter.

湖南大学第三届模拟联合国大赛英文组

第二篇：模拟联合国(MUN)文件范本之五：决议草案范本

山东大学威海分校第四届模拟联合国大会

———决议草案范文

学生国际交流协会（SICA）

山东大学威海分校第四届模拟联合国大会

———决议草案范文

学生国际交流协会（SICA）