Question

The Bretton Woods agreement created the ________, which was given the task of promoting the growth of world trade by setting rules for the maintenance of fixed exchange rates and by making loans to countries that were experiencing balance of payments difficulties.

A) IMF
B) World Bank
C) Central Settlements Bank
D) Bank of International Settlements

Answer 1

Answer: The Bretton Woods agreement created the IMF.

Explanation: The Bretton Woods agreement established the rules for commercial and financial relations among the United States, Canada, Western European countries, Australia, and Japan after the 1944 Bretton Woods Agreement. It created a system of rules, institutions, and procedures to regulate the international monetary system, which in turn lead to the establishment of the International Monetary Fund (IMF).