The Bretton Woods Institutions

A Commonwealth Perspective

image of The Bretton Woods Institutions

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.



Executive Summary

Against the background of changes that have occurred since their creation 50 years ago, this paper surveys issues concerning the future of the Bretton Woods Institutions (BWIs). Much has happened to the world economy in this time and there are doubts whether the Fund and Bank have adapted adequately. We concentrate on two subject-areas: Part II examines systemic issues of international exchange rate and policy co-ordination; the shifting finance-adjustment balance; and the changing roles of the BWIs in the international system.


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