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Definition

Bretton Woods Institutions are a pair of financial entities created in 1944, consisting of the International Monetary Fund (IMF) and the World Bank, aimed at overseeing the international monetary system and promoting economic stability and cooperation. They were established to rebuild economies after World War II and prevent future financial crises by providing financial support, policy advice, and technical assistance.

Related terms

International Monetary Fund (IMF):

An international organization that works to secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.

World Bank:

An international financial institution that provides loans and grants to the governments of poorer countries for the purpose of pursuing capital projects.

Economic Stability: A state in which an economy experiences constant growth, low inflation rates, and low unemployment rates, indicating overall health in its financial conditions