Origins – Hoover Institution Public Policy Inquiry: International Monetary Fund

HISTORICAL CONTEXT
The first half of the twentieth century experienced two world wars and a global depression. From these conditions arose a desire to create a new international monetary system. Learn about the historical framework of the IMF.

BRETTON WOODS CONFERENCE
Discussions of the forty-four nations that gathered in Bretton Woods, New Hampshire in 1944 shaped the course of history. Engage in the dialogue surrounding the drafting of the Articles of Agreement for the International Monetary Fund and the International Bank for Reconstruction and Development (the World Bank).

RATIFICATION DEBATES
Study an analysis of the negotiations leading to the establishment of the Bretton Woods institutions and an appraisal of their significance in light of the subsequent histories of the Fund and Bank.

ORIGINAL ARTICLES OF AGREEMENT
The Bretton Woods conference created an institutional structure to address the concerns of the time — one that the framers hoped would lead to global prosperity. Grasp the designed intent of the International Monetary Fund by reading the Articles of Agreement.

CURRENT ARTICLES OF AGREEMENT
The original Articles of Agreement have been amended three times, once in 1969, once in 1978, and most recently in 1992. Read the revised Articles of Agreement to understand the current actions of the International Monetary Fund. Also, compare and contrast the shift in purpose and nature of the present-day IMF with its original article’s intentions.

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