International Institutions Flashcards
0
Q
Why did Bretton Woods system collapse?
A
President Johnson financed Vietnam war by printing money
High inflation through imports
1
Q
What is the Bretton Woods system?
A
- fixed exchange rates
- Dollar was the reference for all currencies
- only currency to be converted to gold
2
Q
What is the role of the international monetary fond?
A
Public development institution
- Africa, fragile countries
- public institutions, infrastructure, disease
- money comes from member countries
- lots of gold
