How frequently does Development Committee of World Bank Group & IMF meet?

Q.  Which of the following is/are true regarding the Development Committee (DC) of the World Bank Group and the IMF?

1) The committee mandate includes trade and global environmental issues in addition to traditional development matters.
2) Its meetings are held in tandem with the meetings of the World Bank.
- Published on 03 Nov 16

a. Only 1
b. Only 2
c. Both 1 and 2
d. Neither 1 nor 2

ANSWER: Only 1
 
  • The Committee's mandate is to advise the Boards of Governors of the Bank and the Fund on critical development issues and on the financial resources required to promote economic development in developing countries.
  • Over the years, the Committee has interpreted this mandate to include trade and global environmental issues in addition to traditional development matters.
  • The Development Committee meets twice a year; in the spring and in the fall at the time of the joint Bank-Fund Annual Meetings.
  • Its meetings are held in tandem with the meetings of the International Monetary and Finance Committee (IMFC) of the Fund.
  • The agenda for the meetings is based on issues recommended by the Chairman, the President of the Bank, the Managing Director of the Fund, and the Executive Boards of the Bank and Fund.
  • Given the Committee's focus, the President of the Bank has a special responsibility to propose topics that he believes require the attention of the Governors.

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