Economics · Economy
Which of the following statements is NOT correct regarding the Bretton Woods system?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1It led to the establishment of the International Bank for Reconstruction and Development (World Bank) and the International Monetary Fund (IMF).
- 2The system was underpinned by the strength of the US dollar, which was exchangeable for gold, and by the economic power of the US.
- 3If a nation suffered from temporary balance of payments difficulties, the IMF would provide currency loans to facilitate multilateral trade.
- 4The Bretton Woods agreements were endorsed by 48 nations in 1944.✓
Correct answer
The Bretton Woods agreements were endorsed by 48 nations in 1944.
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