ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Fifty Years After

Fifty Years After THE 50th anniversary of the Bretton Woods Conference of July 1944 at which negotiations were completed for the establishment of the International Monetary Fund (IMF) and the World Bank (which began operations in early 1945) may be an accasion for governments of the developed and developing countries alike to celebrate and rejoice, but to discerning observers of the present world economic order, it is a sombre occasion. These institutions have long lost sight of the objectives which shaped their creation and have become instruments used to presssurise third world governments to impose inappropriate, undemocratic and unjust policies on their own people. The distortions that have appeared in the world economy, are in a way, a reflection of the twists and turns of the Bretton Woods institutions.

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