NationStates Jolt Archive


IBFC Resolution - maybe?

Unspecifistan
26-09-2005, 11:54
Unspecifistanian UN Ministry.

We wish to propose the creation of an Internation Banking and Finance Congress (IBFC) to help alleviate world debt and co-ordinate world economic policy better. Could you please read through this and suggest any neccessary amendments to bring it up to standard. Also, we invite another nation to propose this, as we do not have the endorsements to do so (OOC: I'm in a tiny region!).

OOC: If this goes, can someone please setup a forum for the IBFC to hold its meetings? Thank you.

THESE United Nations:

RECOGNISE the need for greater co-operation between economic bodies to alleviate poverty and suffering.

AWARE of the implications of poverty and suffering for the global economy, and visa versa.

HEREBY propose and endorse the creation of an International Banking and Finance Congress (IBFC) to organise and co-ordinate international debt, Central Bank policy and provide financial assistance to countries suffering economic troubles.

ARTICLE ONE:
1. Henceforth, all Central Banks that apply to join the IBFC shall become members of the IBFC. Any private banks or financial institutions coming under the definitions of this resolution are also welcomed to join the body.
2. A Financial body allowed to join the IBFC must be:
• Free of criminal activity for the last 5 years.
• Not in financial trouble, or arrears, and able to meet the cost of supporting the IBFC.
• Publicly accountable through either public shares or through a recognised consumer complaints wing.
3. The members shall each provide a set proportion of their profits to the running of the IBFC, to cover the administrative costs of the body, and to add to a common pool of capital.

ARTICLE TWO:
1. That the IBFC shall have a pool of common capital, and this shall be used to alleviate the financial troubles of a national government entering into a period of economic suffering.
2. Further more, all International Debt payments shall be conducted through the IBFC, and it shall vote monthly on which debts to repeal, and whether or not to block government loans or aid on the basis of a breach of human rights as defined by previous or future UN resolutions.

ARTICLE THREE:
All international lending, borrowing and financial transactions shall be approved by the IBFC through a simple majority vote.

ARTICLE FOUR:
That these United Nations shall enforce human rights within the IBFC, and shall immediately provide ratification for the establishment of the IBFC. The IBFC shall be open to all nations who wish to join, be they UN members or not, but non-member bodies that join shall only be bound to operate with the IBFC within the UN.

THIS being the will of these United Nations.
Southeastasia
26-09-2005, 13:16
The UN already has a World Bank.
Unspecifistan
26-09-2005, 14:11
The UN already has a World Bank.

OOC: Where can I find out about this World Bank / which resolution created it?
Jey
26-09-2005, 14:14
Go through the "Past UN Resolutions" page.
Flibbleites
26-09-2005, 18:05
OOC: Where can I find out about this World Bank / which resolution created it?
There isn't one, I think that Southeastasia has NS confused with RL.

Bob Flibble
UN Representative