In July 1944, United Nations Monetary and Finance ...

In July 1944, United Nations Monetary and Finance Conference was held at Bretton Woods, New Hampshire, USA. It was decided to create two organizations at the conference: International Bank or World Bank for IMF & Reconstruction and Development Although there are many other countries represented in this conference, the United Kingdom and the United States have a clear prevalence of bargaining.

Traditionally, IMF chief was elected from the European countries and was elected chief of the World Bank from the United States.