Question

What do you know abt Bretton wood Agreement?

Answer 1

Bretton Wood Agreement-:

• The Bretton wood Agreement was signed between the world powers in July 1994 at Bretton Wood in New Hemisphire , USA.
• It established the International Monetery Fund (IMF) to deal with external surpluses and u deficits of its members nation and the international bank for reconstruction and development was set up to finance post war recovery .

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Answer 2

ANSWER

Bretton Woods Agreement

-The Bretton wood agreement was developed by delegates from 44 countries at the United Nations Monetary and Financial Conference.

-The agreement was that other currencies were pegged to the value of the U.S. dollar, which, in turn, was pegged to the price of gold.

-Soon during the end of the early 1970s, President Richard M. Nixon announced that the U.S. would no longer exchange gold for U.S. currency and this made the System more effective.

EXTRA INFORMATION

1)Bretton Woods is referred to as the two multilateral organizations formed or created at the Bretton Woods Conference in 1944.

They include =>IMF(International Monetary Fund) and World Bank.

2)They were established to deal with external surpluses and deficits of its member Nations.

3)The Bretton wood conference was convinced in July 1944 at New Hampshire, U.S.A.

4)The main aim of these was to provide economic stability and full employment for the All round growth of countries.

5)Together the IMF and World Bank were known as Bretton Wood Twins.