Which of the following groups of international institutions are also known as “Bretton Woods Sisters”?
The Bretton Woods conference of July 1944 produced the plans for the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development (IBRD),…
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Which of the following groups of international institutions are also known as “Bretton Woods Sisters”?
Answer and explanation
Correct answer B
The Bretton Woods conference of July 1944 produced the plans for the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development (IBRD), the original World Bank. These are the two Bretton Woods institutions. The IBRD is now part of the wider World Bank Group.
Option feedback
Option A
The UN Charter was signed at the 1945 San Francisco Conference and entered into force later that year. The Bank for International Settlements was founded in 1930. Neither institution originated at Bretton Woods.
Option B
The IMF and the IBRD originated at the Bretton Woods conference in July 1944. The IBRD was the original World Bank and is now part of the World Bank Group.
Option C
Incorrect. The World Trade Organization (WTO) was established in 1995 under the 1994 Marrakesh Agreement, not at Bretton Woods.
Option D
The 1948 Havana Charter proposed an International Trade Organization, but it never entered into force. The Bretton Woods pairing is the IMF and the original World Bank, the IBRD.
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