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With reference to International Monetary and Finance Committee (IMFC), consider the following statements:
1. It advises and reports to the International Monetary Fund (IMF) Board of Governors.
2. It has 24 members, drawn from the governors of the Fund’s 190 member countries.
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
Correct answer is option 'C'. Can you explain this answer?
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With reference to International Monetary and Finance Committee (IMFC),...
Union Finance Minister attends the International Monetary and Financial Committee in Washington DC.
About
- The IMF Board of Governors is advised by two ministerial committees, the International Monetary and Financial Committee (IMFC) and the Development Committee.
- Composition: The IMFC has 24 members, drawn from the pool of 190 governors. Its structure mirrors that of the Executive Board and its 24 constituencies. As such, the IMFC represents all the member countries of the Fund.
- Working: The IMFC meets twice a year, during the Spring and Annual Meetings. The Committee discusses matters of common concern affecting the global economy and also advises the IMF on the direction its work.
The Development Committee
- It is a joint committee, tasked with advising the Boards of Governors of the IMF and the World Bank on issues related to economic development in emerging and developing countries.
- The committee has 24 members (usually ministers of finance or development).
- It represents the full membership of the IMF and the World Bank and mainly serves as a forum for building intergovernmental consensus on critical development issues.
Hence both statements are correct.
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With reference to International Monetary and Finance Committee (IMFC),...
1. The first statement is true. The International Monetary and Finance Committee (IMFC) advises and reports to the International Monetary Fund (IMF) Board of Governors. The IMFC is responsible for providing guidance and direction to the IMF on issues related to international monetary and financial stability.
2. The second statement is false. The IMFC has 24 members, but they are not drawn from the governors of the Fund. Instead, the IMFC is composed of finance ministers or central bank governors of the member countries. Each member country appoints one representative to the IMFC. These representatives are usually high-ranking officials responsible for economic and financial matters in their respective countries.
2. The second statement is false. The IMFC has 24 members, but they are not drawn from the governors of the Fund. Instead, the IMFC is composed of finance ministers or central bank governors of the member countries. Each member country appoints one representative to the IMFC. These representatives are usually high-ranking officials responsible for economic and financial matters in their respective countries.
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With reference to International Monetary and Finance Committee (IMFC), consider the following statements:1. It advises and reports to the International Monetary Fund (IMF) Board of Governors.2. It has 24 members, drawn from the governors of the Fund’s 190 member countries.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
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With reference to International Monetary and Finance Committee (IMFC), consider the following statements:1. It advises and reports to the International Monetary Fund (IMF) Board of Governors.2. It has 24 members, drawn from the governors of the Fund’s 190 member countries.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With reference to International Monetary and Finance Committee (IMFC), consider the following statements:1. It advises and reports to the International Monetary Fund (IMF) Board of Governors.2. It has 24 members, drawn from the governors of the Fund’s 190 member countries.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to International Monetary and Finance Committee (IMFC), consider the following statements:1. It advises and reports to the International Monetary Fund (IMF) Board of Governors.2. It has 24 members, drawn from the governors of the Fund’s 190 member countries.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
With reference to International Monetary and Finance Committee (IMFC), consider the following statements:1. It advises and reports to the International Monetary Fund (IMF) Board of Governors.2. It has 24 members, drawn from the governors of the Fund’s 190 member countries.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With reference to International Monetary and Finance Committee (IMFC), consider the following statements:1. It advises and reports to the International Monetary Fund (IMF) Board of Governors.2. It has 24 members, drawn from the governors of the Fund’s 190 member countries.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to International Monetary and Finance Committee (IMFC), consider the following statements:1. It advises and reports to the International Monetary Fund (IMF) Board of Governors.2. It has 24 members, drawn from the governors of the Fund’s 190 member countries.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
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