Paralatino Organization for Regional Cooperation, 2018

Addressing the Economic Recession in Venezuela

Letter from the Chairperson

Committee Director Dear delegates,
Hello and welcome to the fourth iteration of the Shishukunj Model United Nations Conference. I am Debanshi Bansal and it’s my immense pleasure to serve as the Chairperson of the Paralatino Organization for Regional Cooperation, 2018. This committee would be a present continuous crisis committee where on spot events would set the pace of discussion.

A little about myself; I am a Science student in 11th standard. I am a huge bibliophile with special interests in mythology and mystery. I believe books give us someplace to go when we have to stay where we are. You can also find me hitting the ball in a Squash court or hooping a ball in the basket. So if you see me in court, feel free to join me. I have been MUNning for the past 3 years and have an inclination towards crisis committees. MUNs have helped me flourish as a more confident and aware person.

Crisis committees are very different from the regular committees you attend in terms of procedures and debate. If you are preparing to be a part of Paralatino Organization for Regional Cooperation, 2018, keep your weapons ready (figuratively, of course; who would want a war, anyway). Polish your creative gray cells, be well-researched and ready your vocal cords. Tighten your seat belts for a very enthralling journey.

The decision to keep the committee revolve around a very recent issue would help you come up with a plethora of constructive, never thought of before ideas. What we want is not a war but rather an enactment which would re-establish Venezuela as an economically strong nation in the Latin-American region.

Coming back to the agenda, the committee is set keeping in mind the ongoing economic crisis in Venezuela and its effect on the neighbouring countries. The crisis is in existence for a couple of years and a few hyper-inflations have intensified the situation. The delegates are expected to formulate and suggest solutions to aid Venezuela in restoring its economy. Every delegate will be serving as the representative of a Latin American nation. In order to maintain the level of debate and formulate practical and feasible solutions, you all are expected to be well-equipped with the knowledge about the country you are representing. The background guides will further help you understand the agenda.

Looking forward to see you all in October this year. Be ready for nail gripping crises and extensive debate. Until then, adieu and may the force be with you.
Debanshi Bansal
Paralatino Organization for Regional Cooperation, 2018

Organ Description

The committee Paralatino Organization for Regional Cooperation will be set up in the present time to address the present Venezuelan crisis and its effects on other Latin American countries in particular. The main focus of this committee will be on the economic condition prevailing in Latin America and means to stabilize it; but other social and political problems in the region- especially initiated by the Venezuelan economic crisis- will also be open to discussion.
The members of the meet will include representatives of affected Latin American countries and some other nations which play an extremely important part in the crisis. The committee will possess executive powers, making the role of each delegation significantly important. This means that each one of you will have immense power rested upon you and can take unorthodox decisions by engaging with people in and outside the committee.
The committee will be working in real time and the decision taken by the members will decide the fate of the nation. So, the members must focus on working coherently.
Be well prepared!

Agenda: Addressing the Economic Recession in Venezuela

Venezuela is in the midst of an unprecedented economic and political crisis marked by severe food and medicine shortages, soaring crime rates and an increasingly authoritarian executive. The Nicolas Maduro government is under scrutiny because of the plummeting oil prices which put the economy in turmoil. The economy has spiralled toward collapse, and a humanitarian crisis has plunged hordes into needless sickness and starvation. Hyperinflation rates have escalated from 254.39% in 2016 to an inconceivable 2349.28% in 2018 leading to a great dip in the prices of Bolivar. Venezuela’s GDP is expected to contract by double digits for the third straight consecutive year. Economic output in Venezuela fell by approximately  by 15% in the last two years. Meanwhile, inflation in Venezuela is expected to hit five-digit levels soon. Venezuela’s slow-burning economic collapse is quickly becoming a regional humanitarian crisis as citizens are  looking for refuge in neighbouring countries. More than 600,000 Venezuelans have already fled their country and sought asylum in Colombia. The economic dynamics in Venezuela are also causing major problems for the private sector. Major multinational companies have all reported serious problems relating to their operations in Venezuela. Venezuela’s currency has lost 99.9% of its dollar value over the past two years. On the political front, protests were initiated when the Supreme Court suspended the election of four legislators for alleged voting irregularities in January 2016.Following this takeover, protests calling for Maduro to step down lasted for four months which finally led to the regional elections on October 15, 2017. The results of elections recorded an emphatic victory for Maduro. Keeping all these problems in mind, it is necessary for solutions that will have a major impact in improving the economic, political and social conditions in Venezuela. Thus delegates have a herculean task of handling the crisis at hand and the upcoming crisis in the committee.