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Bretton Woods Agreement

   Also found in: Wikipedia 0.04 sec.
Bretton Woods Agreement
An agreement signed by the original United Nations members in 1944 that established the International Monetary Fund (IMF) and the post-World War II international monetary system of fixed exchange rates.


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Its despicable dealings with the Nazis in receiving and laundering the shipments of plunder explain why the 1944 Bretton Woods Agreement establishing the IMF and the World Bank also called for the abolition of the BIS.
Also created as part of the Bretton Woods agreement was the World Bank, a labyrinth of regional lending banks, a dispute settlement agency, a finance corporation, a pair of global development funds, and various subsidiary organizations.
The designers of the Bretton Woods agreement that created the IMF wanted countries to allow the free movement of capital as quickly as possible.
 
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