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Formation of IMF and ____ took place after the Great Depression.


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Detailed Solution

The International Monetary Fund (IMF) and the World Bank were created after the Great Depression at an international conference held in Bretton Woods, New Hampshire, the United States, in July 1944. The IMF functioned to stabilize the international monetary system, and the World Bank was created to reduce poverty and increase shared prosperity by working with developing countries. The Great Depression, also known as the greatest and longest economic downturn in modern history, began in October 1929 when the USA stock market crashed and ripped the U.S. economy. It lasted until about 1939.
 
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