Bretton Woods institutions and newly independent/developing states (1950–1973)

1. IMF and World Bank agreements finalized at Bretton Woods

   Jul 22, 1944Labels: Bretton Woods, IMF, World Bank

   • IMF Articles
   • Britannica GATT

2. IMF Articles of Agreement enter into force

   Dec 27, 1945Labels: IMF Articles, International Monetary

   • IMF Articles

3. World Bank makes its first loan (to France)

   May 9, 1947Labels: World Bank, IBRD, France

   • World Bank PR

4. GATT takes effect, expanding trade rules beyond finance

   Jan 1, 1948Labels: GATT, trade framework

   • UN Audiovisual
   • WTO Chrono

5. IMF creates the Stand-By Arrangement lending tool

   Jun 1, 1952Labels: Stand-By Arrangement, IMF

   • IMF SBA

6. World Bank launches the International Finance Corporation

   Jul 20, 1956Labels: International Finance, World Bank

   • WB Timeline

7. World Bank creates IDA for concessional development finance

   Sep 24, 1960Labels: IDA, World Bank

   • IDA History
   • WB Timeline

8. UN adopts decolonization declaration (Resolution 1514)

   Dec 14, 1960Labels: UN Resolution, United Nations

   • UN Audiovisual

9. UN affirms permanent sovereignty over natural resources

   Dec 14, 1962Labels: UN Resolution, natural resources

   • UN Audiovisual

10. IMF creates export-shock support via Compensatory Financing

    Jan 1, 1963Labels: Compensatory Financing, IMF

    • IMF PIN
    • IMF Review

11. UNCTAD founded, amplifying developing-country economic demands

    Jan 1, 1964Labels: UNCTAD, United Nations

    • Britannica UNCTAD
    • UNCTAD About

12. Group of 77 forms to coordinate developing-country negotiations

    Jun 15, 1964Labels: Group of, G-77

    • G77 About
    • UN Chronicle

13. IMF creates Special Drawing Rights to supplement reserves

    Jan 1, 1969Labels: Special Drawing, IMF

    • IMF SDR
    • Britannica SDR

14. G-24 established to represent developing countries at Bretton Woods bodies

    Jan 1, 1971Labels: G-24, developing countries

    • IMF Guide
    • G24 History

15. Nixon suspends dollar-gold convertibility (the “Nixon Shock”)

    Aug 15, 1971Labels: Nixon Shock, United States

    • Springer Ch
    • Time Mag

16. Smithsonian Agreement attempts to restore fixed parities

    Dec 18, 1971Labels: Smithsonian Agreement, major economies

    • IMF Guide
    • Smithsonian

17. Committee of Twenty begins formal Bretton Woods reform work

    Feb 1, 1972Labels: Committee of, IMF

    • WB Archives

18. Generalized floating spreads, weakening Bretton Woods fixed rates

    Mar 19, 1973Labels: Floating Exchange, currency markets

    • Brookings 1973

19. Bretton Woods era closes as reform stalls and crises deepen

    Jun 13, 1974Labels: Bretton Woods, international monetary

    • UK Hansard
    • WB Archives