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Question
What is meant by the Bretton Woods Agreement?
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Solution
The Bretton
Woods Agreement was finalised in July 1944 at Bretton Woods in New Hampshire,
USA. It established the International Monetary Fund and the World Bank to
preserve global economic stability and full employment in the industrial world.
These institutions also dealt with external surpluses and deficits of member
nations, and financed post-war reconstructions.
The Bretton Woods Agreement was finalised in July 1944 at Bretton Woods in New Hampshire, USA. It established the International Monetary Fund and the World Bank to preserve global economic stability and full employment in the industrial world. These institutions also dealt with external surpluses and deficits of member nations, and financed post-war reconstructions.
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