State whether the given statement is True/False.

The World Bank and IMF were created after the Bretton Woods conference.

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True

False

answer is A.

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Detailed Solution

The above statement is true.
The World Bank and IMF were created after the Bretton Woods conference. After the 1944 Bretton Woods Agreement, the United States, Canada, Australia, and Japan formed monetary connections through the Bretton Woods System. All the nations that were allies in World War II met in New Hampshire in 1944 to adopt the Bretton Woods Agreement. A new system of international money was formed under the agreement. Hence the U.S. dollar became the primary world currency, replacing the gold standard. The new pact helped America solidify its position as the leading economic force in the world. The Bretton Woods System also led to the World Bank and the International Monetary Fund (IMF).

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