BretTon Woods Institutions CONCEPT

Bretton Woods institutions are based on the concept of financial security of all nations and equal opportunity for free and fair trade to all countries irrespective of their political and military dynamics with each other. Also, this means that all countries have equal opportunity to grow economically and financially by following uniform rules for financial dealings and standards. The concept came into light after World War I when some nations suffered a major setback because of absence of any standard for value of currency and thus depletion of resources to buy basic necessities from the richer nations.

There was a need for a system by which monetary and financial institutions in any country will have to be run along with valuation of currency in...