ÿþ<html> <head> <title> WHKMLA : History of the Early Cold War : IMF </title> <!-- copyright Alexander Ganse, 2001 --> </head> <body bgcolor = "lightgreen"> <div align = "center"> <TABLE border = "0" cellspace="0" cellpadding="0" align="center"> <TR> <TD align = "center" valign = "center"> <A HREF = "../../index.html"> <img src = "../../banner.jpg" border = "0"> </A></TD></TR></TABLE> <TABLE border = "0" cellspace="0" cellpadding="0" align="center"> <TR> <TD width = "150" height = "36" align = "center" valign = "center"> <font size = "2" face = "arial"><B> United Nations </B></font></TD> <TD width = "36" height = "36" align = "center" valign = "center"> <A HREF = "un.html"> <img src = "../../region/arrowleft.gif" width = "36" height = "36" border = "0"> </A></TD> <TD align = "center" valign = "center"> <A HREF = "xecw.html"> <img src = "../banners/banecw.jpg" border = "0"> </A></TD> <TD width = "36" height = "36" align = "center" valign = "center"> <A HREF = "../../region/europe/nato.html"> <img src = "../../region/arrowright.gif" width = "36" height = "36" border = "0"></A> </TD> <TD width = "150" height = "36" align = "center" valign = "center"> <font size = "2" face = "arial"><B> NATO </B></font></TD></TR></TABLE> <BR><BR><BR> <script language="JavaScript"> <!-- function SymError() { return true; } window.onerror = SymError; //--> </script> <script type="text/javascript"><!-- google_ad_client = "pub-0213752126925919"; google_alternate_color = "FFFFE1"; google_ad_width = 728; google_ad_height = 90; google_ad_format = "728x90_as"; google_ad_channel ="4814426207"; google_ad_type = "text"; google_page_url = document.location; google_color_border = "FF3300"; google_color_bg = "FFFFE1"; google_color_link = "0000CC"; google_color_url = "008000"; google_color_text = "6F6F6F"; //--></script> <script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js"> </script> <BR><BR><BR> </div> <TABLE border = "0" cellspace="0" cellpadding="0" align="center"> <TR> <TD width = "900" align = "center" valign = "center"> <font size = "6" face = "arial"><B> International Monetary Fund (IMF) </B></font> </TD></TR></TABLE><BR> <BR><BR> <font size = "4" face = "Times Roman"> In July 1944, the representatives of 44 nations met at BRETTON WOODS and decided on the establishment of the INTERNATIONAL BANK OF RESEARCH AND DEVELOPMENT (IBRD) and the INTERNATIONAL MONETARY FUND (IMF), in an attempt to, which stabilize the excange rates of the currencies existing or to be set up. The IMF was founded in 1945 and began operations in May 1946. Its headquarters is Washington D.C. <BR> The IMF operates a fund with which it can come to the aid of member countries; the contribution to that fund is fixed in quotas, the lions' share of 18.25 % being carried by the US, 5.67 % each by Japan and Germany etc. The contributors' nations have a say within the IMF corresponding to their contribution. <BR><BR> The steps taken at the Bretton Woods Conference of 1944 were intended to stabilize the exchange rates between major currencies; it functioned more or less until 1971, when it collapsed. The Bretton Woods system was based on the US DOLLAR as leading currency, and on the member nations' GOLD RESERVES. <BR><BR><BR><BR> <TABLE border = "3" cellspace="5" cellpadding="5" align="center"> <TR> <TD width = "150" valign = "top" align = "center" bgcolor="#FFFACD"> <font size = "3" face = "Times Roman" color = "#000000"> EXTERNAL <BR> FILES </font></TD> <TD width = "700" valign = "top" align = "left" bgcolor = "#FFFACD"> <font size = "2" face = "Times Roman" color = "#000000"> Links to Bretton Woods, from <A HREF = "http://ps.ucdavis.edu/classes/pol129/SWE/bretton.htm"><B>Global Economy</B></A> <BR> Origins of the IMF, from <A HREF = "http://www.imf.org/external/pubs/ft/exrp/what.htm#1"><B>imf.org</B></A> <BR> Bretton Woods, from <A HREF = "http://www.econ.iastate.edu/classes/econ355/choi/bre.htm"><B>Iowa State</B></A>, an article explaining the Bretton Woods system and how it functioned <BR> World Bank Group Historical Chronology 1960-1969, from <A HREF = "http://wbln0018.worldbank.org/archives/Exhibits.nsf/ 047273a37e85a9cb85256629001595e6/ba4265eaf55ad70e852569ae0079373f?OpenDocument"><B>World Bank Group Archives</B></A> </font></TD> </TR></TABLE> <TABLE border = "3" cellspace="5" cellpadding="5" align="center"> <TR> <TD width = "150" valign = "top" align = "center" bgcolor="#FFFACD"> <font size = "3" face = "Times Roman" color = "#000000"> DOCUMENTS </font></TD> <TD width = "700" valign = "top" align = "left" bgcolor = "#FFFACD"> <font size = "2" face = "Times Roman" color = "#000000"> The Bretton Woods Agreements, 1944, from <A HREF = "http://www.yale.edu/lawweb/avalon/decade/decad047.htm"><B>Avalon Project</B></A> at Yale Law School <BR> United Nations Monetary and Financial Conference at Bretton Woods. Summary of Agreements. July 22, 1944, from <A HREF = "http://www.ibiblio.org/pha/policy/1944/440722a.html"><B>Pillars of Peace</B></A>, pamphlet published in 1946 </font></TD> </TR></TABLE> <TABLE border = "3" cellspace="5" cellpadding="5" align="center"> <TR> <TD width = "150" valign = "top" align = "center" bgcolor="#FFFACD"> <font size = "2" face = "Times Roman" color = "#000000"> REFERENCE </font></TD> <TD width = "700" valign = "top" align = "left" bgcolor = "#FFFACD"> <font size = "2" face = "Times Roman" color = "#000000"> </font></TD> </TR></TABLE> <BR><BR><BR> <TABLE border="5" cellspace="10" cellpadding="10" align="center" bgcolor="#FFFFFF"><TR> <TD width="480" valign="top" align="center"> <font size = "3" face = "Times Roman" color = "#000000"><i>This page is part of <B>World History at KMLA</b></i></font><BR> <font size = "2" face = "Times Roman" color = "#000000"><i>First posted on July 22st 2001, last revised on November 14th 2004</i></font> <BR><BR> <font size = "2" face = "Times Roman"> Click here to go <A HREF = "../../index.html">Home</A> <BR> Click here to go to <A HREF = "../../about.html">Information about KMLA, WHKMLA, the author and webmaster</A> <BR> Click here to go to <A HREF = "../../links.html">Statistics</A><BR> </TD></TR></TABLE><BR><BR><BR> </DIV> <DIV align="center"> <A href="mailto:aganse@hotmail.com"> <IMG src="../../email.gif" border="0"></a><BR> <BR><BR><BR><BR><BR> <!-- Start of CH Counter --> <script type="text/javascript"> //<!-- // chCounter v2.0.0 // settings: cstatus = "active"; visible = "0"; path_to_counterfile = "http://www.zum.de/whkmla/counter/counter.php"; urlhp = "http://www.zum.de"; //////////////// url = unescape(location.href); file = url.substring(url.lastIndexOf(urlhp) + urlhp.length, url.length); file = (file.charAt(0) != "/") ? 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