The outcome of the Bretton Woods conference held in July 1994. It came into existence in December 1945 and began its opercition in June 1946.
Need for the establishment of the World Bank:
No doubt, the international monetary fund, the first of the twins born at Bretton woods, is an international financial institution intended for providing financial assistance from the IMF is available only for correcting a temporary disequilibrium in the balance of payments of member countries, and not for adjusting the fundamental disequilibrium in the balance of payments.
54 Comments