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Consider the following statements regarding International Monetary and Financial Committee (IMFC).
- The IMFC advises and reports to the IMF Board of Governors on the supervision and management of the international monetary and financial system.
- The size and the composition of the IMFC mirrors that of the Executive Board of IMF.
- The IMFC operates by consensus, including on the selection of its chair.
Which of the above statements is/are correct?
- a)1, 2
- b)1, 3
- c)2, 3
- d)1, 2, 3
Correct answer is option 'D'. Can you explain this answer?
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Consider the following statements regarding International Monetary and...
- The IMFC advises and reports to the IMF Board of Governors on the supervision and management of the international monetary and financial system, including on responses to unfolding events that may disrupt the system.
- Although the IMFC has no formal decision-making powers, in practice, it has become a key instrument for providing strategic direction to the work and policies of the Fund.
- The size and the composition of the IMFC mirrors that of the Executive Board. The IMFC has 24 members who are central bank governors, ministers, or others of comparable rank.
- The IMFC operates by consensus, including on the selection of its chair. A number of international institutions, including the World Bank, participate as observers in the IMFC’s meetings.
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Consider the following statements regarding International Monetary and...
Statement 1: The IMFC advises and reports to the IMF Board of Governors on the supervision and management of the international monetary and financial system.
This statement is correct. The International Monetary and Financial Committee (IMFC) is a committee of the International Monetary Fund (IMF) and its main role is to provide advice and report to the IMF Board of Governors on matters related to the supervision and management of the international monetary and financial system. The IMFC discusses global economic issues and provides guidance on policies that can help promote global economic stability.
Statement 2: The size and the composition of the IMFC mirrors that of the Executive Board of IMF.
This statement is correct. The IMFC consists of 24 members who are typically finance ministers or central bank governors of member countries or groups of countries. The size and composition of the IMFC are designed to mirror that of the Executive Board of the IMF, which is responsible for the day-to-day management of the IMF's operations. This ensures that the IMFC represents a diverse range of member countries and provides a platform for discussions on global economic issues.
Statement 3: The IMFC operates by consensus, including on the selection of its chair.
This statement is correct. The IMFC operates by consensus, which means that decisions are made after all members agree. This includes the selection of the chair of the IMFC. The chair is typically appointed for a period of two years and represents one of the member countries or groups of countries. The chair plays a crucial role in facilitating discussions and ensuring that the IMFC operates effectively.
Therefore, all three statements are correct. The IMFC advises and reports to the IMF Board of Governors, its size and composition mirror that of the Executive Board of the IMF, and it operates by consensus, including on the selection of its chair.
This statement is correct. The International Monetary and Financial Committee (IMFC) is a committee of the International Monetary Fund (IMF) and its main role is to provide advice and report to the IMF Board of Governors on matters related to the supervision and management of the international monetary and financial system. The IMFC discusses global economic issues and provides guidance on policies that can help promote global economic stability.
Statement 2: The size and the composition of the IMFC mirrors that of the Executive Board of IMF.
This statement is correct. The IMFC consists of 24 members who are typically finance ministers or central bank governors of member countries or groups of countries. The size and composition of the IMFC are designed to mirror that of the Executive Board of the IMF, which is responsible for the day-to-day management of the IMF's operations. This ensures that the IMFC represents a diverse range of member countries and provides a platform for discussions on global economic issues.
Statement 3: The IMFC operates by consensus, including on the selection of its chair.
This statement is correct. The IMFC operates by consensus, which means that decisions are made after all members agree. This includes the selection of the chair of the IMFC. The chair is typically appointed for a period of two years and represents one of the member countries or groups of countries. The chair plays a crucial role in facilitating discussions and ensuring that the IMFC operates effectively.
Therefore, all three statements are correct. The IMFC advises and reports to the IMF Board of Governors, its size and composition mirror that of the Executive Board of the IMF, and it operates by consensus, including on the selection of its chair.
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Consider the following statements regarding International Monetary and Financial Committee (IMFC). The IMFC advises and reports to the IMF Board of Governors on the supervision and management of the international monetary and financial system. The size and the composition of the IMFC mirrors that of the Executive Board of IMF. The IMFC operates by consensus, including on the selection of its chair.Which of the above statements is/are correct?a)1, 2b)1, 3c)2, 3d)1, 2, 3Correct answer is option 'D'. Can you explain this answer?
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Consider the following statements regarding International Monetary and Financial Committee (IMFC). The IMFC advises and reports to the IMF Board of Governors on the supervision and management of the international monetary and financial system. The size and the composition of the IMFC mirrors that of the Executive Board of IMF. The IMFC operates by consensus, including on the selection of its chair.Which of the above statements is/are correct?a)1, 2b)1, 3c)2, 3d)1, 2, 3Correct answer is option 'D'. 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 Consider the following statements regarding International Monetary and Financial Committee (IMFC). The IMFC advises and reports to the IMF Board of Governors on the supervision and management of the international monetary and financial system. The size and the composition of the IMFC mirrors that of the Executive Board of IMF. The IMFC operates by consensus, including on the selection of its chair.Which of the above statements is/are correct?a)1, 2b)1, 3c)2, 3d)1, 2, 3Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding International Monetary and Financial Committee (IMFC). The IMFC advises and reports to the IMF Board of Governors on the supervision and management of the international monetary and financial system. The size and the composition of the IMFC mirrors that of the Executive Board of IMF. The IMFC operates by consensus, including on the selection of its chair.Which of the above statements is/are correct?a)1, 2b)1, 3c)2, 3d)1, 2, 3Correct answer is option 'D'. Can you explain this answer?.
Consider the following statements regarding International Monetary and Financial Committee (IMFC). The IMFC advises and reports to the IMF Board of Governors on the supervision and management of the international monetary and financial system. The size and the composition of the IMFC mirrors that of the Executive Board of IMF. The IMFC operates by consensus, including on the selection of its chair.Which of the above statements is/are correct?a)1, 2b)1, 3c)2, 3d)1, 2, 3Correct answer is option 'D'. 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 Consider the following statements regarding International Monetary and Financial Committee (IMFC). The IMFC advises and reports to the IMF Board of Governors on the supervision and management of the international monetary and financial system. The size and the composition of the IMFC mirrors that of the Executive Board of IMF. The IMFC operates by consensus, including on the selection of its chair.Which of the above statements is/are correct?a)1, 2b)1, 3c)2, 3d)1, 2, 3Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding International Monetary and Financial Committee (IMFC). The IMFC advises and reports to the IMF Board of Governors on the supervision and management of the international monetary and financial system. The size and the composition of the IMFC mirrors that of the Executive Board of IMF. The IMFC operates by consensus, including on the selection of its chair.Which of the above statements is/are correct?a)1, 2b)1, 3c)2, 3d)1, 2, 3Correct answer is option 'D'. Can you explain this answer?.
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