The Bretton Woods conference of 1944 established a post-war economic order which, to a large degree, we are still experiencing today. List the three (3) institutions created at Bretton Woods and describe their functions. (100 words maximum)
The Bretton Woods Institutions are the World Bank and the International Monetary Fund (IMF). They were set up at a meeting of 43 countries in Bretton Woods, New Hampshire, USA in July 1944. Their aims were to help rebuild the shattered postwar economy and to promote international economic cooperation. The original Bretton Woods agreement also included plans for an International Trade Organisation (ITO) but these lay dormant until the World Trade Organisation (WTO) was created in the early 1990s.
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