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What is meant by bratton wood agreement |
| Answer» The Bretton Woods Conference was held in July of 1944 at Bretton Woods in New Hampshire, USA. Under this system, the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development (IBRD), popularly known as the World Bank were established to preserve global economic stability and full employment in the industrialised world. The IMF and the World Bank are referred to as the Bretton Woods Institutions or Bretton Woods twins.The Bretton Woods Agreement is the landmark system for monetary and exchange rate management established in 1944. It was developed at the United Nations Monetary and Financial Conference held in Bretton Woods, New Hampshire, from July 1 to July 22, 1944. | |