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Bretton Woods Conference
Bretton Woods Conference

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At line 2 changed one line
[{$pagename}], formally known as the United Nations Monetary and Financial Conference, was the gathering of 730 delegates from all 44  [Allied nations|https://en.wikipedia.org/wiki/Allies_of_World_War_II] at the Mount Washington Hotel|https://en.wikipedia.org/wiki/Mount_Washington_Hotel] , situated in [Bretton Woods|https://en.wikipedia.org/wiki/Bretton_Woods,_New_Hampshire],  [New Hampshire|https://en.wikipedia.org/wiki/New_Hampshire] ,  [United States], to regulate the [international monetary and financial order|https://en.wikipedia.org/wiki/International_monetary_systems] after the conclusion of [World War II|https://en.wikipedia.org/wiki/World_War_II] .
[{$pagename}], formally known as the United Nations Monetary and Financial Conference, was the gathering of 730 delegates from all 44  [Allied nations|https://en.wikipedia.org/wiki/Allies_of_World_War_II] at the Mount Washington Hotel|https://en.wikipedia.org/wiki/Mount_Washington_Hotel], situated in [Bretton Woods|https://en.wikipedia.org/wiki/Bretton_Woods,_New_Hampshire], [New Hampshire|https://en.wikipedia.org/wiki/New_Hampshire],  [United States], to regulate the [international monetary and financial order|https://en.wikipedia.org/wiki/International_monetary_systems] after the conclusion of [World War II|https://en.wikipedia.org/wiki/World_War_II] .
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The [{$pagename}] system required countries to guarantee convertibility of their currencies into  [U.S. dollars|DOLLAR] to within 1% of fixed parity rates, with the dollar  [convertible to gold bullion|https://en.wikipedia.org/wiki/Gold_standard] for foreign governments and [central banks|https://en.wikipedia.org/wiki/Central_bank] at US$35 per [troy ounce|https://en.wikipedia.org/wiki/Troy_ounce] of fine gold (or 0.88867 gram fine gold per dollar).
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[{$pagename}] also envisioned greater cooperation among countries in order to prevent future [competitive devaluations|https://en.wikipedia.org/wiki/Competitive_devaluation], and thus established the [International Monetary Fund] ([IMF) to monitor exchange rates and lend reserve currencies to nations with [balance of payments|https://en.wikipedia.org/wiki/Balance_of_payments] deficits.
[{$pagename}] set up a system of rules, institutions, and procedures to regulate the [international monetary system|https://en.wikipedia.org/wiki/International_monetary_system], these accords established the [IMF] and the International Bank for Reconstruction and Development (IBRD), which today is part of the [World Bank Group].
The [United States], which controlled two-thirds of the world's gold, insisted that the [{$pagename}] rest on both gold and the [United States] [DOLLAR].
This page (revision-10) was last changed on 29-Nov-2024 16:16 by -jimTop