Bretton Woods Conference


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Related to Bretton Woods Conference: gold standard, International Monetary Fund, Bretton Woods system

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 ?
NEW YORK: It is symbolic that the recent BRICS summit in Fortaleza, Brazil, took place exactly seven decades after the Bretton Woods Conference that created the International Monetary Fund and the World Bank.
As one contributor to the US-based Far Eastern Survey put it immediately after the Bretton Woods conference, "It will be a particular source of pride to foreign admirers of Dr.
AFTER World War II the Bretton Woods conference decided that the US dollar would be the reserve global currency, underpinned by the gold standard.
Kennan's telegram responded to the Treasury Department's bewilderment that the Soviet Union had failed to join the World Bank and the International Monetary Fund after having participated actively in the Bretton Woods conference that created them both.
Preparatory work leading up to the Bretton Woods conference, which was of course focused on international monetary issues, expressed the general consensus doctrine on the preferred course leading up to the conference in respect of international trade:
The Bretton Woods conference was held seven decades ago, but the enduring concerns that Keynes and White sought to address in 1944 are still with us, with no solution in sight.
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.
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.