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Q.

When did the Bretton Woods institutions commence action?


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a

1931

b

1945

c

1939

d

1947 

answer is D.

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Detailed Solution

The Bretton Woods institutions commenced actions in 1947.
The International Monetary Fund (IMF) was formed to deal with the deficits and surpluses of its member nations. The International Bank for Reconstruction and Development, commonly known as the World Bank, dealt with post-war reconstruction. Key powers in these institutions went to the western industrial powers. The IMF and the World Bank began financial operations in 1947. This new economic system came to be known as the Bretton Woods system.
 
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