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 the work.
2. The world Bank participate as observer in IMFC’s meetings

Which of the statements given above is/are correct?

a) 1 only

b) 2 only

c) Both 1 and 2

d) Neither 1 nor 2