The result was the United Nations, the General Agreement on Tariffs and Trade, and the Bretton Woods Conference
which led to the establishment of the International Monetary Fund and the World Bank.
Formed in 1944 at the Bretton Woods Conference
primarily by the ideas of Harry Dexter White and John Maynard Keynes, it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international payment system.
The setting-up of IMF and World Bank as a result of Bretton Woods Conference
was also a step in the same direction.
That is why the 44 countries that participated in the 1944 Bretton Woods Conference
agreed on a framework to ensure stable exchange rates.
Nonetheless, in 2019, 75 years after the Bretton Woods conference
, New Zealand policy-makers still favour an international financial and monetary system that allows ready financing of deficits rather than demanding austerity.
They are products of the Bretton Woods conference
In 1944, the Bretton Woods conference
laid the groundwork for the International Monetary Fund, the World Bank, and other global financial institutions; the establishment of the United Nations soon followed.
Like its sister institution, the International Monetary Fund (IMF), it was created in 1944 at the Bretton Woods Conference
held in the aftermath of the war.
The 1944 Bretton Woods conference
made it clear that the era of European empire was over.
A bomb-scarred Britain was the birthplace of the NHS, and in July 1944 the foundations of the modern economic order were laid at the Bretton Woods Conference
Caption: Bretton Woods: In 1944, the Bretton Woods Conference
in New Hampshire produced plans for a postwar global economic and financial order, which included a World Bank and International Monetary Fund.
The Bretton Woods conference
held at a resort in New Hampshire, United States, set the process in motion.