Question

The Bretton Woods Conference took place in 1944, with the leaders of forty-four countries in attendance. What was the central reason for this meeting?

1) To bring WWII to an immediate end, with the hopes of stabilizing many economies
2) To avoid another significant, global depression like the Great Depression
3) To argue either for or against a return to the gold standard
4) To create the International Monetary Fund

Answer 1

The Bretton Woods Conference of 1944 aimed to prevent another economic crisis similar to the Great Depression and establish a new international financial order, resulting in the creation of the IMF and the World Bank.

Step-by-step explanation:

The central reason for the Bretton Woods Conference in 1944, attended by leaders of forty-four countries, was to establish a new international financial framework to prevent another economic crisis like the Great Depression and to reconstruct war-torn nations.

At Bretton Woods, the delegates aimed to create an economic system that could promote monetary cooperation, fixed exchange rates, and economic stability post-World War II. The agreement reached at Bretton Woods fixed the United States dollar as the monetary reserve and made it convertible to gold, which helped stabilize the international economy and facilitate post-war reconstruction.