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Logan Logan
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6 years ago
What global institutions were created as a result of the Bretton Woods agreement and what purposes were they meant to serve?
Textbook 
By the People: A History of the United States, AP Edition

By the People: A History of the United States, AP Edition


Edition: 1st
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6 years ago
The Bretton Woods agreement created the International Monetary Fund (IMF) and the World Bank. The purpose of the IMF was to maintain exchange rates between different currencies so that people could buy and sell in different countries without fear that values would fluctuate wildly, to provide loans to a nation that was having problems balancing payments, and to provide technical assistance to banks. The World Bank was designed to support economic recovery in war-torn Europe and to reduce world poverty, especially in Latin America, Africa, and parts of Asia that did not have the economic foundation for recovery.
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