A system where countries stabilize their exchange rates around par values with the right to change these values when necessary.
An international financial institution established in 1946 to promote economic recovery and development, particularly in least developed countries (LDCs).
A set of proposals for international monetary institutions by John Maynard Keynes during the Bretton Woods negotiations in 1944.
An agreement reached in 1971 attempting to restore a Bretton Woods-style system of pegged exchange rates.
New parities for the world’s major currencies agreed at the Smithsonian conference in 1971 to replace the Bretton Woods system.
