Prelims 2016 · Economy · Question 40
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 observer in IMFC's meetings.
Which of the statements given above is/are correct?
Answer
Both 1 and 2
Statement 1: Correct. The IMFC is the IMF’s key advisory body; it discusses issues affecting the global economy and advises the IMF/Board of Governors on the broad direction of its work.
Statement 2: Correct. The World Bank participates in IMFC meetings as an observer.
Therefore: Both statements are correct.