The Bretton Woods Conference was held in the year ____.

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Detailed Solution

The Bretton Woods Conference was held in the year 1944. The developed countries agreed to form a family of institutions to address important concerns in the global financial system in the post-World War II era in the Bretton Woods Conference. The World Bank and the International Monetary Fund(IMF) are the Bretton Woods Institutions, sometimes known as the Bretton Woods twins. By harmonising its members' monetary policies and ensuring exchange stability, the IMF would promote a stable environment for international trade. It would be able to provide short-term financial support to countries experiencing balance-of-payments challenges. The World Bank, on the other side, would help countries improve their trading capability by lending money to war-torn countries.

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