How is the United Nations Monetary and Financial Conference wherein the agreements were signed to set up IBRD, GATT and IMF, commonly known?
A
Bandung Conference
B
Bretton Woods Conference
C
Versailles Conference
D
Yalta Conference
Correct Answer: Option B
Explanation
1. The United Nations Monetary and Financial Conference was held in July 1944.
2. At this conference, delegates from 44 nations signed agreements establishing the International Bank for Reconstruction and Development (IBRD, part of the World Bank Group) and the International Monetary Fund (IMF). Discussions also laid groundwork for the General Agreement on Tariffs and Trade (GATT).
3. This historic conference took place at the Mount Washington Hotel in Bretton Woods, New Hampshire, USA, and is therefore commonly known as the Bretton Woods Conference.