Bretton Woods

Bretton Woods

1. Main objectives

   • Facilitate trade growth
   • Encourage international monetary cooperation
   • Create a reserve base
   • Establish a multilateral system of payments
   • Promote exchange rate stability

2. Agreement made in 1944, the representatives of 44 countries attended a Monetary and Financial Conference in Bretton Woods, New Hampshire (USA), to establish the bases for the creation of a new economic order. An international monetary system that would tend to full employment and price stability to make it easier for to achieve external balance without imposing restrictions on international trade

3. Institutions

   • World Bank
     • 1944
     • -increase shared prosperity -promote sustainable development -helps finance developing countries
     • 189 member countries
     • Washington
   • World Trade Organization
     • -administers trade rules -forum for the negotiation of trade agreements -opens trade for the benefit of all
     • 1995
     • 160 member countries
     • Geneva, Switzerland
   • International Monetary Fund
     • -financial stability -international monetary cooperation and trade -promote employment and reduce poverty
     • 1944
     • 190 member countries
     • Washington

4. Has Mexico benefited from the work of any of these institutions?

   • Yes, Mexico has received 12,117 million dollars from the SDR, there is already greater macro-financial strength, it is also about facing imbalances in external accounts, there is access to broader markets, with a greater diversity of products and services

5. References: El Grupo Banco Mundial y el Fondo Monetario Internacional (FMI). (n. d.). Retrieved from https://www.bancomundial.org/es/about/history/the-world-bank-group-and-the-imf El FMI: Datos básicos. (2021). Retrieved from https://www.imf.org/es/About/Factsheets/IMF-at-a-Glance La OMC. (n. d.). Retrieved from https://www.wto.org/spanish/thewto_s/thewto_s.htm Reyes Konings, Luís S. (2010). La Conferencia de Bretton Woods. Estados Unidos y el dólar como Centro de la Economía Mundial. Procesos Históricos, (18), 72-81. Retrieved from https://www.redalyc.org/articulo.oa?id=20016326007 QUIÉNES SOMOS. (n. d.). Retrieved from https://www.bancomundial.org/es/who-we-are

6. Members: Cassandra Bolaños A01639007, Fernanda Díaz A01640040, Natalia Espinoza A0163919 & Samantha del Toro A01638991

7. Conclusion / Difference

   • Although the three institutions focus on the economic sphere of the member countries, the main difference is that the World Bank focuses on promoting economic development, the International Monetary Fund focuses on the economic and financial system, while the World Trade Organization focuses the international trading system