International Relations : International Organisations

Q 44 / 59

UPSC CSE Prelims 2008

How is the United Nations Monetary and Financial Conference where agreements were signed to set up IBRD, GATT and IMF, commonly known?

EXPLANATION

Correct Option

The United Nations Monetary and Financial Conference, held in July 1944 at Bretton Woods, New Hampshire, USA, is commonly known as the Bretton Woods Conference. This conference established the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development (IBRD), which later became a part of the World Bank Group. It also laid the groundwork for the General Agreement on Tariffs and Trade (GATT), signed in 1947, which was the precursor to the World Trade Organization (WTO).

Incorrect Options

  • Bandung Conference (1955): This conference was held in Indonesia and marked a significant step in promoting Asian-African solidarity and the Non-Aligned Movement during the Cold War era.

  • Versailles Conference (1919): This conference was held in Paris, France, at the end of World War I and resulted in the Treaty of Versailles, which formally ended the war between the Allied Powers and Germany.

  • Yalta Conference (1945): This was a meeting of the heads of government of the United States, the United Kingdom, and the Soviet Union (the "Big Three") in February 1945 to discuss the post-World War II reorganization of Europe and the defeat of Nazi Germany.

SOURCEInternational Relations, Chapter 1: Evolution of International Organisations