With reference to the International Monetary and Financial Committee (IMFC), consider the following statements:
- IMFC discusses matters of concern affecting the global economy and advises the International Monetary Fund (IMF) on the direction of its work.
- The World Bank participates as an observer in IMFC’s meetings.
Which of the statements given above is/are correct?
Detailed Explanation:
Answer: Option 3 — Both 1 and 2
✅ Statement 1 – Correct: The International Monetary and Financial Committee (IMFC) is a key advisory body that discusses matters of concern affecting the global economy and advises the IMF on the direction of its work. It comprises 24 IMF governors (typically finance ministers or central bank governors) and meets twice a year to provide strategic guidance on the international monetary and financial system.
✅ Statement 2 – Correct: The World Bank participates as an observer in IMFC meetings. This observer status facilitates coordination between the two Bretton Woods institutions on issues of mutual interest such as global economic stability, development finance, and poverty reduction. Other observers include representatives from various international organizations.
Question 5 of 6 International Monetary Fund (IMF)
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