Bretton Woods Conference

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The Bretton Woods Conference was a meeting of representatives of 44 non-communist countries in Bretton Woods, New Hampshire, USA in 1944.

Its objectives included preventing another major global depression, following the anticipated ending of World War II.

The underlying mechanism was to encourage open global markets.

Representatives agreed on the characteristics of the international monetary system, effectively a fixed exchange rate system, which prevailed until 1971.

The conference led to the establishment of the International Monetary Fund and the World Bank.

The full name of the conference was the United Nations Monetary and Financial Conference.

See also