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What is Meant by the Bretton Woods Agreement? - Social Science

Answer in Brief

What is meant by the Bretton Woods Agreement?

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Solution

The Bretton Woods Agreement was finalised in July 1944 at Bretton Woods in New Hampshire, USA. It established the International Monetary Fund and the World Bank to preserve global economic stability and full employment in the industrial world. These institutions also dealt with external surpluses and deficits of member nations, and financed post-war reconstructions.

Concept: Making of a Global World - Rebuilding the World Economy
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APPEARS IN

NCERT Social Science - History India and the Contemporary World 2 Class 10 CBSE
Chapter 3 The Making of a Global World
Q 5 | Page 78
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