With reference to the International Monetary and Financial Committee (IMFC), consider the following

Question

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?

Accepted Answer

The International Monetary and Financial Committee (IMFC) advises and reports to the International Monetary Fund (IMF) Board of Governors on the supervision and management of the international monetary and financial system. This includes responses to unfolding events that may disrupt the system. Although the IMFC has no formal decision-making powers, it has become a key instrument for providing strategic direction to the work and policies of the IMF.A number of international institutions, including the World Bank, participate as observers in the IMFC's meetings.Source Citation:The Hindu Business LineIMF Official Website