Bretton Woods Timeline

A Turning Piont in Ecenomic Development

Bretton Woods Pre-Meeting, also known as the Atlantic Charter.

November, 1941

The Bretton Woods Founding Fathers agree to the lead the Conference.

March, 1943

Bretton Woods is approved by the U.S. congress.

December, 1943

Other countries accept to join the Bretton Woods conference.

December 1, 1943

Bretton Woods Conference commences.

July, 1944

The gold standard is established. All dollars can be exchanged for gold.

July 1, 1944

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

Countries accept the agreement and begin to prepare for international trade.

July 22, 1944

The Bretton Woods Conference draws to a conclusion.

July 22, 1944

The Marshal Plan is approved aiding in the reconstruction of Europe.

1945 - 1958

World War II ends.

September, 1945

France receives the first loan from the IMF for post WW II reconstruction.

November, 1945

The United states can no longer back up the dollar with gold.

1962

The value of the dollar begins to decline.

1965

The U.S. officially abandons dollar convertibility to gold. (The Nixon Shock)

August, 1971

The Smithsonian agreement establishes the post Bretton Woods monetary system.

December, 1971