UPSC Prelims 2016 · GS Paper I
Question 15: International Relations and Current Affairs
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?
AnswerUPSC’s answer is (c).
The International Monetary and Financial Committee is the IMF's advisory body of finance ministers and central bank governors, drawn from the IMF's constituencies. It discusses matters of concern affecting the global economy and advises the IMF on the direction of its work. Several international bodies, including the World Bank, attend its meetings as observers.
- 1. The IMFC discusses global economic concerns and advises the IMF on its work.
- 2. The World Bank takes part in IMFC meetings as an observer.
How you could have got this
- If you were sure statement 1 is correct, (b) and (d) go: each of them leaves 1 out.
What you needed to know: The IMFC discusses global economic concerns and advises the IMF on its work.
- Then, if you were sure statement 2 is correct, (a) goes: it leaves 2 out.
What you needed to know: The World Bank takes part in IMFC meetings as an observer.
Only (c) is left. This one needs every statement.
Which options go is worked out from UPSC’s key and the options, not by a model.
Why each option is right or wrong
- (a) Statement 2 is also correct: the World Bank attends as an observer.
- (b) Statement 1 is also correct: the IMFC advises the IMF.
- (c) Right: both statements are correct.
- (d) Both statements are correct, so 'neither' fails.
Answer: UPSC’s key. Explanation: written by UPSC Grade, not by UPSC.
Source: UPSC, Civil Services (Preliminary) Examination 2016, General Studies Paper I, Series A. The paper on upsc.gov.in.