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UPSC 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?
(a)1 only
(b)2 only
(c)Both 1 and 2
(d)Neither 1 nor 2
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Not attemptedCorrect Answer: (c) Both 1 and 2
The IMFC is the advisory body of the IMF that meets twice a year to review the world economic outlook and give strategic direction to the Fund, so Statement 1 is correct. The IMF factsheet lists the World Bank among the international institutions that attend IMFC meetings as observers, so Statement 2 is also correct; hence both statements are right and option (c) is the answer. ([imf.org](https://www.imf.org/en/About/Factsheets/A-Guide-to-Committees-Groups-and-Clubs?utm_source=openai))
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Frequently Asked Questions
What is the correct answer to this UPSC 2016 Indian Economy question?▼
The correct answer is option (c): Both 1 and 2. Watch the detailed video explanation in our Sherlocking Prelims course on UnlockIAS.
Which year was this International Institutions & Reports question asked in UPSC Prelims?▼
This question was asked in UPSC CSE Prelims 2016, GS Paper 1, as Question 15. It falls under Indian Economy > International Institutions & Reports.
What is the difficulty level of this UPSC question?▼
This question is rated "moderate". It requires sound conceptual understanding of the topic.
How many UPSC Prelims questions have been asked from International Institutions & Reports?▼
UPSC has asked 39 questions from International Institutions & Reports (under Indian Economy) across multiple years. Visit the topic page to see the full list and year-wise trends.