Topics: International : Bretton Woods Institutions
Bookmark or ShareThe Bretton Woods Institutions (BWIs) are the World Bank (originally International Bank for Reconstruction and Development, IBRD) and the International Monetary Fund (IMF), founded in July 1944 at a meeting of delegates of 44 countries in Bretton Woods, New Hampshire (USA). At the same time they agreed on fixing exchange rates of their currencies with the U.S. dollar. The purpose of these arrangements was to stabilize international monetary system and financial relations.
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