Bretton Woods

57 %
43 %
Information about Bretton Woods
Business-Finance

Published on February 10, 2011

Author: rubyjac

Source: authorstream.com

Slide 1: United Nations Monetary and Financial Conference Ruby Jacob Important facts: Important facts Who ??? 730 delegates from 44 Allied nations Where ??? At the Mount Washington Hotel, situated in Bretton Woods, New Hampshire Why ??? To regulate the international monetary and financial order after the conclusion of World War II. Slide 3: When ??? 1 July to 22 July 1944 Achievements: Agreements were signed to set up 1. The International Bank for Reconstruction and Development (IBRD), 2. The General Agreement on Tariffs and Trade (GATT), 3. The International Monetary Fund (IMF). The Bretton Woods system of exchange rate management was set up . Slide 4: Mount Washington Hotel Purposes and goals : Purposes and goals The summary of agreements: "The nations should consult and agree on international monetary changes which affect each other. They should outlaw practices which are agreed to be harmful to world prosperity, and they should assist each other to overcome short-term exchange difficulties." The main terms of this agreement : The main terms of this agreement Formation of the IMF and the IBRD (presently part of the World Bank). Adjustably pegged foreign exchange market rate system: The exchange rates were fixed, with the provision of changing them if necessary. Currencies were required to be convertible for trade related and other current account transactions. The governments, however, had the power to regulate ostentatious capital flows. As it was possible that exchange rates thus established might not be favorable to a country's balance of payments position, the governments had the power to revise them by up to 10%. All member countries were required to subscribe to the IMF's capital. Encouraging open markets : Encouraging open markets The establishment of the IMF and the World Bank marked the end of economic nationalism. Joint management of the Western political-economic order. Failed proposals : Failed proposals International Trade Organization The ITO charter was agreed on at the U.N. Conference on Trade and Employment (held in Havana, Cuba, in March 1948), but was not ratified by the U.S. Senate. As a result, the ITO never came into existence. International Clearing Union John Maynard Keynes proposed the ICU as a way to regulate the balance of trade. The ICU would effectively be a bank with its own currency (the "bancor"), exchangeable with national currencies at a fixed rate. Nations would be the unit for accounting between nations, so their trade deficits or surpluses could be measured by it. John Maynard Keynes (right) represented the UK at the conference, and Harry Dexter White represented the US.: John Maynard Keynes (right) represented the UK at the conference, and Harry Dexter White represented the US. The Bretton Woods system  : The Bretton Woods system Chief features Obligation for each country to adopt a monetary policy that maintained the exchange rate of its currency within a fixed value—plus or minus one percent—in terms of gold. The ability of the IMF to bridge temporary imbalances of payments. It’s collapse The United States on August 15, 1971 unilaterally terminated convertibility of the dollar to gold. This action created the situation whereby the United States dollar became the sole backing of currencies and a reserve currency for the member states. In the face of increasing financial strain, the system collapsed in 1971. Slide 11: Thank You

Add a comment

Related presentations

Related pages

Bretton-Woods-System – Wikipedia

Als Bretton-Woods-System wird die nach dem Zweiten Weltkrieg neu geschaffene internationale Währungsordnung mit Wechselkursbandbreiten bezeichnet, die vom ...
Read more

Definition » Bretton-Woods-System « | Gabler ...

Bretton-Woods-System: Gold-Devisen-Standard. 1. Begriff: Internationales Währungssystem nach dem Zweiten Weltkrieg bis Anfang der 1970er-Jahre. Benannt ...
Read more

Mount Washington Resort - Bretton Woods, NH

Mount Washington Resort - Bretton Woods, NH - a four season resort featuring alpine and nordic skiing, golf, canopy tours and zip lines, and much more.
Read more

Bretton Woods system - Wikipedia, the free encyclopedia

The Bretton Woods system of monetary management established the rules for commercial and financial relations among the United States, Canada, Western ...
Read more

Bretton Woods – Wikipedia

Bretton Woods bezeichnet: Bretton Woods (New Hampshire), einen Stadtteil von Carroll in New Hampshire, Vereinigte Staaten; Bretton-Woods-System, ein ...
Read more

Das Bretton-Woods-System | bpb

Die Konferenz von Bretton-Woods Im Juli 1944 fand im amerikanischen Ferienort Bretton Woods eine Konferenz statt, auf der ein multilaterales ...
Read more

Bretton-Woods-Abkommen - Wirtschaftslexikon

In Bretton Woods, einem Ort im US-Bundesstaat New Hamshire, fand 1944 eine Konferenz der Vereinten Nationen zu internationalen Fragen der Finanzen und der ...
Read more

Alpine Skiing at Bretton Woods | NH's Largest Ski Area

Mountain stats and general information for Bretton Woods New Hampshire ski area. Lift schedule, lift tickets, snow report, ski/snowboard school, and more.
Read more

The Bretton Woods Committee

On Thursday April 23rd, 2015 the Bretton Woods Committee and the Institute for International Economic Policy at GW’s Elliot School of International ...
Read more

Bretton-Woods-System | bpb

Bretton-Woods-System Bezeichnung für das nach Ende des Zweiten Weltkriegs in Kraft getretene internationale Währungssystem fester Wechselkurse, in dem ...
Read more