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65 Years After the Bretton Woods Agreement
By Laura Knoy on Wednesday, July 22, 2009.
In July of 1944, as World War II was nearing its final days, 730 delegates from 44 Allied nations met at the Mount Washington Hotel in Bretton Woods, New Hampshire. There, they agreed on an international monetary structure that would govern financial and commercial relations among the world’s leading economies and prevent repeats of the economic disasters of the 1930’s. They set up the International Monetary Fund and the World Bank. Although an improvement, the IMF and World Bank have been far from perfect. We’ll reassess the two major organizations that came from the conference. Guests
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The remarkable think about the timing of the Bretton Woods Conference is NOT that "as WWII was winding down," but indeed it began only 3 weeks after D DAY when the outcome was not assured...it would almost a year and hundreds of thousands lives till the end.
CEL