Bretton-Woods Agreement of 1944

(banking/foreign exchange) Articles of agreement adopted by the international monetary conference of 44 nations which met at Bretton Woods, New Hampshire in 1944. The International Monetary Fund and the International Bank for Reconstruction and Development were created as a result of this agreement. The Fund’s major responsibility was to maintain orderly currency practices in international trade, while the Bank’s function was to facilitate extension of long-term investments for productive purposes.
See Bretton-Woods System; International Monetary Fund; International Bank for Reconstruction and Development.

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