Bretton Woods Institutions (IMF and World Bank): history and modern situation

Type :

Presentation

Pages :

12 pages

Format :

.doc

Published date :

01/16/2009

Category :

Economics & finance

Sub category :

Economics

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Summary :

Bretton-Woods: The settlement of the two main economic institutions.
1. Economic contexts.
2. The conference of Bretton Woods.
3. The creation of the IMF and of the IBRD.
The World Bank and IMF, two economical institutions.
1. The IMF institution.
2. What is the World Bank today?
Legitimacy of the Institutions in financial crisis.
1. The World Bank and the IMF in the debt's crisis of the third world.
2. Internal crisis: How to lean the lack of credibility of the WB?
3. Consequence of crises: Questioning of their actions.
Conclusion.
Bibliography.

Abstract

To go out of the chaos caused by world War 2, countries had to set up new institutions liable to restore a stable and durable international order. This reconstruction was led by the United States of America and its allies. From 1941, in the Atlantic chart, the allies wanted to affirm again the freedom principles concerning navigation, international transactions and the access to raw materials. Thanks to these principles, they subscribed to liberalism thesis and they underlined their opinions against protectionism. In 1945, this liberalist thought benefited from the dominant influence of the USA and it also coincided with the well know interest of America. In fact, the huge national production in the USA needed huge exterior open markets. Moreover, very conscious of its economic position linked to the war, the American bankers wanted to be reimbursed in non devaluated money. That is why, USA desired to elaborate a new economic and international system.