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Rajnish
Rajnish

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Rajnish
Asked: October 29, 20202020-10-29T19:41:06+05:30 2020-10-29T19:41:06+05:30In: UPSC PRELIMS

What is IMFC?

Describe IMFC.

ifmcinternational organization
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    1. Sweety

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      2020-10-29T19:49:47+05:30Added an answer on October 29, 2020 at 7:49 pm

      About IMFC:

      • IMFC stands for International Monetary and Financial Committee.
      • The IMFC is the International Monetary Fund’s (IMF) Committee at the Ministerial level. The size of the IMFC and its composition are matched by that of the Executive Board.
      • The IMFC has 24 members who are governors of the central bank, ministers, or others of similar rank.
      • A member of the IMFC is appointed by each member country and by each community of member countries that elects the Executive Director.
      • The IMFC advises and reports on the regulation and management of the international monetary and financial system to the IMF Board of Governors.
      • It also considers the Executive Board ‘s recommendations to amend the Articles of Agreement and advises the Board of Governors on all other issues that may be referred to it.
      • In reality, while the IMFC does not have formal decision-making authority, it has become a crucial instrument for providing strategic guidance for the Fund ‘s work and policies.

       

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