Download Committee: Economic and Financial

Committee: Economic and Financial
Topic: Micro Financing and the Developing World
Country: North Korea
Many countries have fully considered enacting micro-finance institutions;
however North Korea is not one of them. In the past, we have embraced the Juche
philosophy- a philosophy of self-reliance. Therefore, any type of micro-finance
institution would be looked down upon in our country because it undermines our
government.
North Korea, like any other country has had its hardships, and during the 1990’s,
we experienced ours. Due to terrible weather conditions, there was a large famine, in
which our people began to starve and we received aid from countries such as China, the
United States of America, and South Korea. However, we felt that we could handle the
problem ourselves, so we refused any more aid from outside countries. Everything we
produce in North Korea is for the benefit of the country as a whole. Our people will
always be employed by the government and as a result there should be little doubt in our
ability to control the poverty levels in our country.
As we have already mentioned, our country has a very strong and powerful
government and we maintain a socialist economy. Therefore our actions in the past to
combat poverty have been to prevent poverty from ever becoming a national problem and
to prevent other countries from trying to give us unneeded aid.
Being a very self-supported country, we believe that there is no need for any type
of microfinance institutions. If a country can maintain a powerful central government,
then said government should be able to control every aspect of the economy, thus
preventing any type of poverty from existing. If a country cannot protect their people,
then their government needs to be reassessed, not given sympathy from worldwide
organizations.