International Monetary Committee
Question
With reference to the International Monetary and Financial Committee (IMFC), consider the following statements:
- 1.
IMFC discusses matters of concern affecting the global economy, and advises the International Monetary Fund (IMF) on the direction of its work.
- 2.
The World Bank participates as observer in IMFC's meetings.
Options
1 only
2 only
Both 1 and 2
Neither 1 nor 2
Explanation
Both statements are correct. Statement 1 is accurate: the IMFC is a key policy-making forum of the IMF established in 1999, where representatives of member countries discuss matters affecting the global economy and provide guidance on the IMF's priorities and work program. Statement 2 is also correct: the World Bank does participate as an observer in IMFC meetings, allowing for coordination between the two institutions on international financial and development issues. This observer status reflects the close working relationship between the IMF and World Bank in addressing global financial and development challenges. > IMFC = IMF Advisory Body with World Bank Observer Participation. Answer: c.
Question details
Year
2016
Paper
GS Paper 1
Question
Q15
Subject
International Relations
Sub-topic
IMF Governance
Type
Statement-based
Difficulty
Medium
Nature
Static
Source hint
IMF Institutional Structure
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