Reporting by: The Indo-Asian News Agency
A new day…a new experience. With the second committee session in order, the Indo-Asian News Agency has new snippets of stories and chats to share. Although the start of the committee was a bit disruptive as there were a few delegates who couldn’t reach early, the rest of the session went by with loads and loads of speeches and opinions involved. Be it enthusiasm, boredom or desperation to speak, we had the committee emotions scale ranging to all levels. Today we even had a lot of new speakers added to the list. The delegate of South Sudan, Chad and Pakistan, who by the way was way more confident that his country has curbed terrorist funding, were a few names on that list.
For most of the session today, the discussion was based on how to solve problems with
demonetisation and teaming up for making the working paper. It so happened that, the moment the unmoderated caucus was passed, the delegates of the United States of America, United Arab Emirates, and Senegal rushed around to gather delegates. The familiar calling for ‘delegates” was ringing throughout the motion. It’s safe to say that people have been researching well and these have read them to have more productive arguments.
With an interaction with the Director of the International Monetary Fund, Mr Manav Khandelwal, it is brought to our notice that delegates focused more on cashless economies and tax evasions, which he really appreciates. Although he does expect the delegates to make historical mistakes of other countries with regard to demonetisation a focus point of debate so that those can be looked upon, corrected and also learning from them. “The solutions some of the delegates provided were designing a digital infrastructure and print better currencies. These solutions are pretty good and
further working on it will provide us with more and more solutions.” The director further explained to the IANS that there were majorly three blocks, one- the pro demonetising but with the restricted use lead mainly by the United Arab Emirates. Second, the anti demonetising having United States of America and Senegal as their collective voice and the third one- the anti demonetising ones who had Italy, Israel and Japan commandeering their ship.
When asked the delegate of Canada about what Canada’s view is on the connection of
cryptocurrencies with the demonetising, his reply was, “Demonetisation in India saw a boom in the demand for cryptocurrencies. Many young college students made a fortune because of their investments in Bitcoins. However, the bad planning led to its failure and could have been executed in a much better way.”
The United Arab Emirates’s opinion on this is quite similar to what the delegate of the United States of America has, as reported earlier, and that is that “I see no point in why developed countries would choose to demonetise as their countries do not require that.” As on his view on the committee’s ongoing discussions, he says that it has been going well.
Overall, it is quite understandable that these delegates entered the hall with a determination to have a fruitful debate and provide solutions to the fullest. Session 2 and there is just so much more.