Bretton Woods Conference


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Bretton Woods Conference,

name commonly given to the United Nations Monetary and Financial Conference, held (July 1–22, 1944) at Bretton Woods, N.H., where 730 delegates representing 44 countries endeavored to create the rules for the post–World War II international economy. The conference resulted in the creation of the International Monetary FundInternational Monetary Fund
(IMF), specialized agency of the United Nations, established in 1945. It was planned at the Bretton Woods Conference (1944), and its headquarters are in Washington, D.C.
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, to promote international monetary cooperation, and of the International Bank for Reconstruction and DevelopmentInternational Bank for Reconstruction and Development (IBRD)
(IBRD), independent specialized agency of the United Nations, with headquarters at Washington, D.C.; one of five closely associated development institutions (also including the International Center for Settlement of
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. By Dec., 1945, the required number of governments had ratified the treaties creating the two organizations, and by the summer of 1946 they had begun operation.

Bibliography

See studies by E. Conway (2015) and E. Rauchway (2015).

References in periodicals archive ?
The Bretton Woods Conference marked one of history's greatest examples of international economic cooperation.
30) In their preparations for the 1944 Bretton Woods conference, Mexican officials, including Villasenor, also carefully compared the US plans for an IBRD to the IAB proposal they had earlier backed so strongly.
Hanke, Professor of Applied Economics at Johns Hopkins University, note in their preface that "Even though there have been thousands and thousands of pages written about the Bretton Woods Conference, nothing beats the transcripts for a first hand feel of what transpired.
The International Monetary Fund is an international organization that was created on July 22, 1944 at the Bretton Woods Conference and came into existence on December 27, 1945 when 29 countries signed the Articles of Agreement.
Both were created after the Bretton Woods Conference in 1944, held at the Mount Washington Hotel in New Hampshire.
The CFA franc was created on 26th December 1945 in the wake of the Bretton Woods conference, in order to cushion the colonies from a strong devaluation of the franc.
This helped undermine the role of the British pound internationally and catapulted the US dollar to the fore - particularly after the Bretton Woods conference in 1944, at which it was agreed that countries would hold their reserves in dollars as well as gold.
This is largely because since the Bretton Woods conference set up the World Bank and the International Monetary Fund (IMF) around 1944 to control the global financial system, the boss of the World bank has always been an American while the IMF has been run by Europeans, largely French as I recall.
Back in 2009, conference organizer George Soros opined that "a new Bretton Woods conference, like the one that established the international financial architecture after World War II, is needed to establish new international rules" and to "reform the currency system.
The purpose of the conference was to elevate a new paradigm to think about problems, issues and changes in the global economy that the attendees of the first Bretton Woods conference couldn't have even imagined.
The aim of this article is to fill part of this gap by focusing on Argentina's exclusion from the foundational event of these prominent institutions--the Bretton Woods Conference held on July 1944 in New Hampshire.
A new Bretton Woods conference, like the one that established the post-WWII international financial architecture, is needed to establish new international rules, including treatment of financial institutions that are too big to fail and the role of capital controls.