Bretton Woods Agreement

The Bretton Woods Agreement was a historical first, it signified the creation of the first monetary order designed to govern currency relations between countries. What was even more astounding was this conference was taking place in the mist of World War II. Actually the World War was one of the main of the reason that the conference got under way in the first place. The Allied Powers were determined to avoid the monetary chaos that followed the end of the last Great War. It was with that in mind that all forty-four allied nations and Argentina, led by John Maynard Keyes a world renowned British economist, and Harry Dexter White the United States minister of the treasury set out to establish a new monetary system.
The conference at Bretton Woods gave birth to The International Monetary Fund (IMF). The IMF began its operations on March 1, 1947. It was designed to promote international monetary stability by establishing a global monitoring system that regulates and advises on...