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Bretton Woods Agreement


An international agreement entered into at Bretton Woods, New Hampshire, by the U.K. and its western allies towards the end of, and as a direct result of, the Second World War. It was signed in 1944 and was to give birth to various international agencies aimed at establishing peaceful trade between nations and keeping a watchful eye on the conduct of that trade. The principal remaining legacies of the Agreement are the International Monetary Fund and the International Bank for Reconstruction and Development.

Reference: The Penguin Business Dictionary, 3rd edt.