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International Trade Institutions and Trade Agreements

The economies were affected adversely due to world war one and two. The reconstruction work could not take place as there was disruption in currencies system and also there was scarcity of resources. At this juncture the notable economist J. M. Keynes with Bretton woods formed an organization with 44 nations to meet this and to restore normalcy in the world. This meeting gave birth to the International Monetary Fund (IMF) International bank Of Reconstruction and Development (IBRD) and the International trade Organisation (ITO). These three organizations were considered as three pillars for world economy development. The main aim of these three organizations is:

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