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๐๏ธ
๐๏ธ Economic Organisations
IMF & World Bank
Bretton Woods institutions (1944) โ IMF stabilises economies; World Bank funds development
USA ๐ 1944 Economic Organisations
Key Facts
- 1
IMF (International Monetary Fund): lender of last resort; monitors global financial stability; 190 members
- 2
World Bank: funds infrastructure and development projects in developing countries; 189 members
- 3
India 1991 crisis: borrowed $1.8B from IMF; Manmohan Singh's reforms freed economy from default
๐ Did you know? The Bretton Woods system (1944โ1971) pegged all currencies to the US dollar, which was itself pegged to gold; Nixon ended it in 1971
Quick Reference
Category
Economic Organisations
Country
๐ USA
Year / Era
1944
About
Bretton Woods institutions (1944) โ IMF stabilises economies