Question

why did bretton wood institution failed? give five reasons.

Answer 1

Answer:

The Bretton Woods institution failed because of the following reasons:-

1. Since US dollar was used in the system of fixed exchange rate, the US dollar gradually lost its value.
2. The colonized countries,after their independence, took loans for their overall national development, from World Bank, which, however, were dominated by world powers
3. Due to this, many underdeveloped countries started taking loans from western commercial banks, which led unemployment and poverty.
4. Also, unemployment hitting the industries were the result of the failed work of the Bretton Twins.
5. The formation of G-77 was the done because many countries did not get benefits from high economic growth

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