explain the role of bretton woods institutions in post second world war settlement
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Bretton Woods Institutions
This organization was established to deal with external surpluses and deficits of its members. The International Bank for Reconstruction and Development was set up to finance post-war reconstruction. This is popularly known as the World Bank.
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The Bretton Woods Institutions are the World Bank and the International Monetary Fund (IMF). They were set up at a meeting of 43 countries in Bretton Woods, New Hampshire, USA in July 1944. Their aims were to help rebuild the shattered postwar economy and to promote international economic cooperation.
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