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 an observer in IMFC’s meetings.Which of the statements given above is/are correct?
✓ Correct answer: c) Both 1 and 2
ExplanationStatement 1 is correct: The International Monetary and Financial Committee (IMFC) is a key body within the IMF struc- ture.It discusses pressing issues related to the global economy and provides guidance to the IMF on its policies and work.It plays a crucial role in shaping the IMF’s agenda and priorities.Statement 2 is correct: The World Bank participates as an observer in IMFC meetings.This allows for coordination and collaboration between the IMF and the World Bank on issues re- lated to international finance and development.Given the inter- connectedness of their work, it’s essential for both institutions to be aligned.265
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