The International Monetary and Financial Committee (IMFC) is responsible for advising and reporting to the IMF Board of Governors as it manages and shapes the international monetary and financial system. The IMFC also monitors developments in global liquidity and the transfer of resources to developing countries; considers proposals by the Executive Board to amend the Articles of Agreement; deals with unfolding events that may disrupt the global monetary and financial system; and advises on any other matters that may be referred to it by the Board of Governors.

The IMFC meets twice a year during the IMF Spring and Annual Meetings. The Committee discusses matters affecting the global economy and advises the IMF on the direction of its work. At the end of the meetings, the Committee issues a communiqué summarizing its views. These communiqués provide guidance for the IMF’s work program during the half year leading up to the next Spring or Annual Meetings. There is no formal voting at the IMFC, which generally operates by consensus.