Bretton Woods Conference

The Bretton Woods Conference, held in July 1944, was a pivotal meeting of 44 nations in New Hampshire, USA, aimed at establishing a new international economic order after World War II. Delegates created the International Monetary Fund (IMF) and the World Bank to promote global economic stability and development. The conference established a system of fixed exchange rates, linking currencies to the US dollar, which was backed by gold. This framework sought to prevent the economic turmoil that led to the Great Depression and foster international trade and cooperation. It laid the groundwork for modern global economics.