Page 87 - Key to Social Studies 6

Let’s Learn More What Is the Bretton Woods Agreement?

The Bretton Woods Agreement was developed by

delegates from 44 countries during a United Nations
What Is the Di erence between the IMF and the World Bank Group (WBG)?
conference held in Bretton Woods, New Hampshire,

• The IMF secures nancial stability, facilitates international trade, and ensures the stability of USA, in 1944. They wished to establish a new

international exchange rates. The IMF also may provide loans to countries to sustain their economic international monetary system, the Bretton Woods
balance. In 2011, Christine Lagarde became the rst female IMF Managing Director. System, to manage monetary and exchange rates.

• The World Bank’s main purpose is to support developing countries by providing long-term economic This agreement included many nancial and

plans that may include technical and nancial assistance. The World Bank initially helped rebuild the monetary decisions that helped prevent devaluation

economies of Western European countries after World War II. of currencies, promote economic growth, and create

• The main di erence between these two organizations is that the purpose of the IMF is to stabilize, or to the IMF and the World Bank Group. While the

make something solid and secure, the monetary exchange rates used by countries, while the purpose of Bretton Woods System was dissolved in the 1970s,

the World Bank is to reduce poverty and promote prosperity. both the IMF and World Bank have remained strong Bretton Woods sign, New Hampshire, USA

pillars for the exchange of international currencies.

Bretton Woods Monetary Conference, 1944

World Bank Group headquarters,
Washington DC, USA

85