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Bretton Woods Institutions

Conference held by the World Bank


At the United Nations Monetary and Financial Conference held in July 1994, at Bretton Wood, in New Hampshire, USA, the International Monetary Fund (IMF) was established. The IMF was authorized to deal with external surpluses and deficits of its member Nations. The IMF and the World Bank were known as Bretton Institutions or Bretton Twins. The IMF and the World Bank began financial operations in 1947.

The International monetary system is a system linking national currencies and monetary systems.

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