The Task Of The International Monetary Fund Was Established By The Bretton Woods Agreement Is To

As part of the agreement, countries promised that their central banks would maintain fixed exchange rates between their currencies and the dollar. If a country`s monetary value became too low against the dollar, the bank would buy back its currency on the foreign exchange markets. Below is a brief summary of why the world`s economies became part of the Bretton Woods system. how the system worked, why it failed, and the impact of the agreement on the development of the international monetary system. Modern economists can gain insights and insights by revealing the past of their profession. Post-war global capitalism suffered from a huge shortage of dollars. The U.S. had huge trade surpluses, and U.S. reserves were huge and growing.

It was necessary to reverse this river. Even if all nations wanted to buy the United States…