The Bretton Woods agreement of 1944 led to the establishment of a bank that would provide funding for long-term development projects - the International Monetary Fund.

Question

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The Bretton Woods agreement of 1944 led to the establishment of the International Bank for Reconstruction and Development (IBRD), now part of the World Bank Group, to provide funding for long-term development projects, not the International Monetary Fund (IMF), which was created to promote international monetary cooperation and exchange rate stability.

The Bretton Woods Agreement of 1944 Led to the Establishment