Question
With reference to the International Monetary and Financial Committee (IMF(c), 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.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) both 1 and 2
(d) neither 1 nor 2
Answer:
C
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Explanation:
Statement 1 is correct. The International Monetary and Financial Committee (IMFC) is a key advisory body of the International Monetary Fund (IMF). It discusses matters of global economic concern and provides guidance and advice to the IMF on its work and policies.
Statement 2 is also correct. The World Bank participates as an observer in the meetings of the IMFC. The World Bank and the IMF closely collaborate on global economic and financial issues, and the presence of the World Bank as an observer in the IMFC meetings helps foster coordination and cooperation between the two organizations.