The Bretton Woods Institutions

A Commonwealth Perspective

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This paper was prepared as a background document on the subject of the Bretton Woods Institutions for the Commonwealth Finance Ministers’ Meeting, 2728 September 1994, and contained a number of proposals which enriched Ministers’ discussion.




To the extent that there can be said to be an international financial system, the IMF and World Bank are at its centre, siblings of the creation at the 1944 Bretton Woods conference of a new international economic order, to avoid repetition of the self-destructive policies of the inter-war years.


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