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Bretton Woods Institutions Within the International Financial Architecture for Development

In: The Governance Structures of the Bretton Woods Financial Institutions

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  • Ahmed Naciri

    (University of Quebec at Montreal)

Abstract

The Bretton Woods Financial Institutions (BWFI), established by the 1944 Bretton Woods Agreement (BWA), form a complementary web of international financial organizations composed of the International Monetary Fund (IMF), the World Bank Group (WBG) and regional development banks (RDB). They have the collective aim of the carrying of Bretton Woods spirit, by actualizing the promotion of economic development of their respective membership and the fight against poverty in suffering environments. They play a strategic global financial intermediation role within the international financial architecture. Despite their close links with the United Nations (UN) system, BWFIs are independent from the UN in terms of decision-making processes, sources of funding, and administration and budget. All Bretton Woods institutions are, however, submitted to the United Nations Security Council’s agreed-upon guidelines, but they are not subjected to the United Nations General Assembly nor to one of its agencies’ decisions.

Suggested Citation

  • Ahmed Naciri, 2018. "Bretton Woods Institutions Within the International Financial Architecture for Development," SpringerBriefs in Economics, in: The Governance Structures of the Bretton Woods Financial Institutions, chapter 0, pages 27-46, Springer.
    • Handle: RePEc:spr:spbchp:978-3-319-97906-9_3
    DOI: 10.1007/978-3-319-97906-9_3
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