(i) The IMFC advises and reports to the IMF Board of Governors on the supervision and management of the International Monetary and Financial System. It also considers proposals by the Executive Board to amend the Articles of Agreement and advises on any other matters that may be referred to it by the Board of Governors. A number of international institutions, including the World Bank, participate as observers in the IMFC's meetings. (ii) Both statements are right as per the official IMF page: April 5,2016 .