UPSC Previous Year Question | Prelims GS | 2016

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. Which of the statements given above is/are correct?

  1. 1 only
  2. 2 only
  3. Both 1 and 2
  4. Neither 1 nor 2

Answer

Correct Answer

Both 1 and 2

Explanation

The IMFC advises the IMF's Board of Governors on the management of the international monetary system, and the World Bank President participates as an observer in IMFC meetings, making both statements correct.

Topics: imf bodies, imfc, indian economy, international monetary system