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. A

   1 only

   Statement 1 only. IMFC does advise the IMF on the global economy and the Fund’s work, but the World Bank also sits as an observer. 1 alone is incomplete.

2. B

   2 only

   Statement 2 only. Observer status of the Bank is right, yet the IMFC’s advisory role in statement 1 is also correct. This letter is not the key.

3. C

   Both 1 and 2

   Both 1 and 2. The International Monetary and Financial Committee is the IMF Governors’ key advisory body on the world economy and the Fund’s direction. The World Bank participates in IMFC meetings as an observer. That stored letter is the official key.

4. D

   Neither 1 nor 2

   Neither. Both statements match IMFC practice, so ‘neither’ is not the key.

Summary. Official key is (c) both 1 and 2. IMFC steers IMF work at ministerial level; the World Bank attends as observer. Honour the stored letter (c).