Bretton Woods and the World Debt Crisis

1. The Bretton Woods institutions were developed near the end of W.W. II to help countries that were greatly affected by the war. The three institutions that were created in New Hampshire by the economic leaders of various countries were: The International Monetary Fund, The World Bank, and The General Agreement on Tariffs and Trade, which later developed into the World Trade Organization. The I.M.F was created so that countries could exchange their …

…solution that helps poor countries reduce their debt is by making their debt disappear. By having their debt eliminated, poorer countries could spend their money on things like health care and education. People would be healthier and smarter. This would mean that the economy of these poor countries would get better. A better economy for one country means a better economy for the world. Consequently, the wealthy countries would also benefit from eliminating the debts.