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In which of the following years, the Bretton Woods Agreement was signed by the delegates from 44 nations which led to the establishment of the IMF? 1. 1940 2. 1952 3. 1944 4. 1957

In which of the following years, the Bretton Woods Agreement was signed by the delegates from 44 nations which led to the establishment of the IMF? 1. 1940 2. 1952 3. 1944 4. 1957 Correct Answer 3

Bretton Woods Agreement and System:

  1. Approximately 730 delegates representing 44 countries met in Bretton Woods in July 1944 with the principal goals of creating an efficient foreign exchange system, preventing competitive devaluations of currencies, and promoting international economic growth.
  2. The Bretton Woods Agreement and System were central to these goals.
  3. The Bretton Woods Agreement also created two important organizations—the International Monetary Fund (IMF) and the World Bank. 
  4. While the Bretton Woods System was dissolved in the 1970s, both the IMF and World Bank have remained strong pillars for the exchange of international currencies.

Therefore, in 1944 the Bretton Woods Agreement was signed by the delegates from 44 nations which led to the establishment of the IMF.

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