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Mount Washington Hotel. The Bretton Woods Conference, formally known as the United Nations Monetary and Financial Conference, was the gathering of 730 delegates from all 44 allied nations at the Mount Washington Hotel, in Bretton Woods, New Hampshire, United States, to regulate what would be the international monetary and financial order after the conclusion of World War II.
The IMF and World Bank meet each autumn in what is officially known as the Annual Meetings of the International Monetary Fund and the World Bank Group and each spring in the Spring Meetings of the International Monetary Fund and the World Bank Group. Names of the two groups are alternated each year so a different one has top billing.
The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution funded by 191 member countries, with headquarters in Washington, D.C. It is regarded as the global lender of last resort to national governments, and a leading supporter of exchange-rate stability.
The IMC was created in 1954. As of 2023, it comprised 58 banks from 31 countries. The conference invites experts and senior policymakers, including central bank governors and senior officials from multilateral organisations including the International Monetary Fund and World Bank. [2]
French statesman Félix Esquirou de Parieu (1815-1893) initiated the sequence of international monetary conferences. The international monetary and economic conferences were a series of gatherings held in the last third of the 19th century and the first half of the 20th century, culminating in the Bretton Woods Conference of 1944.
The Bretton Woods twins refers to the two multilateral organizations created at the Bretton Woods Conference in 1944, namely the World Bank and the International Monetary Fund. [1] Both twin organizations functioned to enact and maintain the Bretton Woods system of prescribed international currency exchange rates.
The United States was a founding member of the International Monetary Fund (IMF), having hosted the other countries at the IMF’s founding conference, the Bretton Woods Conference, in 1944. The US delegation played an integral role in the establishment of the basic tenets of the IMF and maintains a large presence in the workings of the ...
John Maynard Keynes (right) and Harry Dexter White at the inaugural meeting of the International Monetary Fund's Board of Governors in Savannah, Georgia, U.S., 8 March 1946. Although attended by 44 governments, discussions at the conference were dominated by two rival plans developed by the United States and Britain.