A Turning Piont in Ecenomic Development
Bretton Woods Pre-Meeting, also known as the Atlantic Charter.
The Bretton Woods Founding Fathers agree to the lead the Conference.
Other countries accept to join the Bretton Woods conference.
December 1, 1943
Bretton Woods is approved by the U.S. congress.
The gold standard is established. All dollars can be exchanged for gold.
July 1, 1944
Bretton Woods Conference commences.
The dollar is established as the international currency.
July 2, 1944
Fixed exchange rates are established.
July 3, 1944
International currencies are pegged to the dollar.
July 4, 1944
The International Monetary Fund is established.
July 5, 1944
The International Bank for Reconstruction and Development is established.
July 6, 1944
The World Bank is established.
July 7, 1944
The Bretton Woods Conference draws to a conclusion.
July 22, 1944
Countries accept the agreement and begin to prepare for international trade.
July 22, 1944
The Marshal Plan is approved aiding in the reconstruction of Europe.
1945 - 1958
World War II ends.
France receives the first loan from the IMF for post WW II reconstruction.
The United states can no longer back up the dollar with gold.
The value of the dollar begins to decline.
The U.S. officially abandons dollar convertibility to gold. (The Nixon Shock)
The Smithsonian agreement establishes the post Bretton Woods monetary system.