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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.

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Foreword

Commonwealth Finance Ministers, representing 51 countries, which include members of the G-7, some of the poorest countries and a number of small states, had a very useful exchange of views on the role of the International Monetary Fund (IMF) and World Bank, at their last annual meeting in Valletta, Malta (26-28 September 1994). This paper by Prof Bird and Mr Killick on 'the Bretton Woods Institutions (BWIs) and the Commonwealth Perspective' was prepared for the Commonwealth Secretariat as a background document on the subject and contained a number of proposals which enriched Ministers' discussions. Given the proximity in time of the two meetings, many of the ideas in the report were also carried forward to the Special Seminar, in Madrid, 29-30 September, to help celebrate the 50th Anniversary of the Bretton Woods Conference.

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