The World Bank and the International Monetary Fund were established after World War II as part of a major reform of the international monetary system.

Question

Quizplus · Accepted Answer

The World Bank and International Monetary Fund (IMF) were both created in 1944 at the Bretton Woods Conference in New Hampshire, United States, as part of a post-World War II effort to rebuild and stabilize the global economy. The World Bank's original mandate was to finance post-war reconstruction and development, while the IMF was created to promote international monetary cooperation and exchange rate stability.

The World Bank and the International Monetary Fund Were Established