Economic and Financial Committee (ECOFIN)

APPROXIMATE COMMITTEE SIZE: 165 double DELEGATIONS

The primary mandate of ECOFIN is to advance economic and financial cooperation to discuss and make recommendations on a wide range of economic issues. In this committee, Topic A is the protection of data privacy in the context of e-commerce. Due to an increasing reliance on online platforms for commerce and the extensive digitalization of transactions, people's private information—including their financial information and browsing habits—is frequently gathered, saved, and used without their explicit authorization. Data breaches can result in identity theft, financial fraud, and other types of exploitation; delegates must address the dangers associated with cybercrime and unlawful data access. Topic B is financial secrecy, which often facilitates illicit financial activity and erodes critical tax revenues for governments worldwide. Corrupt politicians and criminal organizations can use offshore accounts and other secret financial structures to hide proceeds from their corrupt practices, weakening democratic institutions and fostering inequality.

Chairs: Romita Chattaraj & Nidhi Somineni

TOPICS

Topic A: E-Commerce and Data Privacy

Topic B: Financial Secrecy Through Offshore Assets and Tax Havens

lEARNING OBJECTIVES

  • Understand the implications of financial secrecy on democratic institutions and societal inequality.

  • Explore existing strategies to address and mitigate data theft, analyze their weaknesses, and improve on existing policy.

  • Gain a deeper understanding of the mechanisms of international cooperation in the international financial sector, along with its importance.

about the chairs

Romita Chattaraj is a member of the Class of 2025 at Georgetown University’s Walsh School of Foreign Service, majoring in International Political Economy and minoring in Spanish. Originally born in Maryland, Romita lived in Bangalore, India for four years before moving back to the U.S. in 2010. She calls Potomac, Maryland her hometown and attended Winston Churchill High School. She discovered Model UN as a sophomore in high school when she first attended NAIMUN LVI as a delegate in 2019. As a freshman at Georgetown, she continued to be involved with NAIMUN, serving as a rapporteur for the Commission on the Status of Women and as the Director of Business & Advancement as a sophomore. As a junior, Romita served as the Executive Director of NAIMUN LXI. You may remember her running around the Hilton last year wearing an earpiece and a determined look on her face! :) Serving as NAIMUN’s Executive Director was the honor of a lifetime for Romita, and she is thrilled to be serving as a Chair for her seventh (and final!) NAIMUN alongside her close friend Nidhi. Outside of NAIMUN, Romita is a volunteer with Amnesty International USA and serves as an Action Network Coordinator for South American campaigns. In her free time, Romita enjoys baking, watching A24 movies, playing the flute, swimming, and making the best hot sandwiches. 

Nidhi Somineni is a member of the Class of 2025 in Georgetown College, majoring in Linguistics with minors in Medical Humanities and Anthropology. She is from Waterford, CT, and this is her third NAIMUN and her second time chairing! Nidhi loves to dance, and is a part of GU Jawani, Georgetown’s premiere bhangra dance team, and choreographs for Rangila, the largest South Asian cultural show on campus and largest charity dance showcase on the eastern shoreboard. She loves language and is always excited to talk about her work and research. Nidhi is so excited to co-chair ECOFIN with one of her closest friends and is thrilled to welcome you all to NAIMUN LXII!