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Amrita Basu
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Asked: 2020-11-17T06:30:54+00:00 In:

What is meant by the Bretton Woods Agreement?

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NCERT Solutions for Class 10 Social Science History Chapter 3
Social Science Class 10 History
The Making of a Global World 3
Important NCERT Questions Based on new NCERT Books for Session 2022-2023
Questions No: 5

2020-2021cbsechapter 3class 10class 10 contemporary indiahistoryncertsocial sciencethe making of a global world
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    1. The Bretton Woods Agreement, established in 1944, created the International Monetary Fund (IMF) and the World Bank. It aimed to stabilize post-World War II economies by fixing exchange rates to the US dollar, fostering international monetary cooperation, and providing financial assistance to member nations facing economic difficulties.

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    2. 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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