In which year the IMF and the resulting UN organisation started conducting financial transactions.

see full answer

Your Exam Success, Personally Taken Care Of

1:1 expert mentors customize learning to your strength and weaknesses – so you score higher in school , IIT JEE and NEET entrance exams.

An Intiative by Sri Chaitanya

1947

1978

1914

1987

answer is A.

(Unlock A.I Detailed Solution for FREE)

Best Courses for You

JEE

NEET

Foundation JEE

Foundation NEET

CBSE

Detailed Solution

In 1947, the IMF and the World Bank started conducting financial transactions.
The Bretton Woods Conference founded the International Monetary Fund (IMF) to manage its member countries' external surpluses and deficits. Meanwhile, the International Bank for Reconstruction and Development (World Bank) was established to fund post-war rebuilding. It was called Bretton Woods institutions, or occasionally the Bretton Woods twins, and was formed to deal with the post-World War II international financial system. In 1947, the IMF and the World Bank started conducting financial transactions. However, the Western industrial powers regulate decision-making in these institutions. Thus the US can effectively reject important IMF and World Bank decisions.

Watch 3-min video & get full concept clarity